Guaranty Association Benefits Company

Nonprofit profile at a glance

EIN
453635388
IRS 990 coverage
2014–2025
Official website data refreshed
Sep 2026
Forms available
Form 990 2025, Form 990-N 2013
Location
Washington, D.C., United States
Phone
2028021917
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$54,747,905
Expenses
$36,556,211
Assets
$1,152,263,247
Liabilities
$976,562,295

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • KATHARINE L WADE (DIRECTOR, PRESIDENT)
  • LYNDA G LOOMIS (VICE PRESIDENT OPERATIONS)

Highest reported compensation

  • LYNDA G LOOMIS (VICE PRESIDENT OPERATIONS): $462,954 total reported compensation
  • KATHARINE L WADE (DIRECTOR, PRESIDENT): $17,314 total reported compensation
  • MICHAEL MCDONALD (SPECIAL COUNSEL): $10,063 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization operates to protect, in accordance with a court-approved liquidation plan, individuals relying upon annuities issued by insolvent executive life insurance company of New York, in furtherance of the common interests of the state guaranty associations and their members.

What it reported doing in 2025

The organization operates to protect, in accordance with a court-approved liquidation plan, individuals relying upon annuities issued by insolvent executive life insurance company of New York ("elny"), in furtherance of the common interests of the state guaranty associations and their members. The organization's obligations commenced on august 8, 2013, when the order of liquidation against elny became effective. The organization met its obligations in 2025 by providing annuity benefit payments in the amounts set forth above.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 60
  • Accountability: 100
  • Sustainability: 81
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 66th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 65th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 33.2%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 31.52; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.85; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 1.3%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -6.7% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -1.7% per year; rating input score 0; 4th percentile among comparable filings

Details

  • What they do: 2 programs and campaigns described on the official site
  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $88.9M in reported program spending
  • Leadership: top reported pay $463K · 11 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $5M reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 12 filing years from 2014 to 2025
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.