Iowa Life and Health Insurance Guaranty Association

Nonprofit profile at a glance

EIN
421305718
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Des Moines, IA, USA
Phone
5152833126
Rating confidence
Limited

Official website

Reported finances

Revenue
$20,634,341
Expenses
$16,877,347
Assets
$24,418,657
Liabilities
$4,801,796

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

Leadership & pay

10 people listed

Executive titles in this filing

  • G THOMAS SULLIVAN (EXECUTIVE DIRECTOR)

People named in this filing

  • MATTHEW AHMANN (CHAIR)
  • SARAH S JAMES (VICE CHAIR)
  • CHRISTA D KUENNEN (TREASURER)

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

To provide funds for the settlement of covered claims against impaired or insolvent member insurers as directed under the Iowa life and health insurance guaranty association act, code of Iowa, chapter 508c.

What it reported doing in 2024

The organization has only one activity and that is to provide funds for and settlement of covered claims of life, health & annuity policies, plans, or contracts of insolvent insurance companies and health maintenance organizations made by Iowa residents as directed under the Iowa life and health insurance guaranty association act, chapter 508c, code of Iowa.

Operating model

Revenue model
Earned-program. 97% of the money available for current operations came from fees and other program revenue.
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: 90
  • Accountability: 94
  • Sustainability: 71
  • Growth: 20

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; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 66th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: 18.2%; rating input score 80; 80th percentile among comparable filings
  • Total-asset coverage ratio: 1.45; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -8.9% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 0.7% per year; rating input score 100; 12th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 9 of 9 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 10 people listed
  • Highest-paid contractors: 1 contractor listed · $564K reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • 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 — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.