Delaware Life & Health Insurance Guaranty Association

Nonprofit profile at a glance

EIN
222451259
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Newark, DE, USA
Phone
3024563656
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$13,158,703
Expenses
$11,029,664
Assets
$5,483,608
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

People named in this filing

  • BARRY MILLER (EXECUTIVE DI)
  • GUARDIAN LIFE INS CO OF AMERICA (DIRECTOR)
  • JONATHAN W RENFREW (SECRETARY -)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose of the association is is to protect policy owners, insureds, beneficiaries, annuiants, payees and assignees of life insurance policies, health insurance policies, annuity contracts, subject to cettain limitations, against failure in the performance of contractional obligations due to impairment of insolvancy.

What it reported doing in 2024

The purpose of the largest program of the Delaware life and health insurance guaranty association is to protect subject to certain limitations, the persons specified in chapter 44 of the Delaware insurance code against failure in the performance of contractural obligations, under life and health insurance policies and annuity contracts specified in chapter 44 of the Delaware insurance code, because of the impairment or insolvency of the member insurer that issued the policies or contracts.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 93% of its reported program spending for member benefits.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 93
  • Accountability: 88
  • Sustainability: 64
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.6%; rating input score 82
  • Program expense ratio: 98.6%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 16.2%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 0.5; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 99; 99th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 14.8% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 12.2% per year; rating input score 100; 81st percentile among comparable filings
  • Asset growth: -1.8% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 81.6% of revenue deployed · 98.6% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $10.9M in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • High — Growth: Asset growth scored 0/100.