Life Insurance Settlement Association Inc

Nonprofit profile at a glance

EIN
521912672
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Washington, DC, USA
Phone
2025806188
Rating
46
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$1,171,838
Expenses
$1,023,758
Assets
$667,545
Liabilities
$193,781

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

Leadership & pay

13 people listed

People named in this filing

  • Rob Haynie (CHAIR)
  • Nate McCormick (Vice Chair)
  • Christopher Conway (Secretary/Treas)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To advance the highest standards of practice and professional development for the industry, and to educate consumers and advisors about a life settlement as an alternative to lapse or surrender of a life insurance policy.

What it reported doing in 2025

Meetings, legislative updates, and publications to keep members educated and informed with regard to new laws and regulations.

Operating model

Revenue model
Earned-program. 88% 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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 49
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 12.6%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 0.65; rating input score 31; 31st percentile among comparable filings
  • Liabilities to assets ratio: 0.29; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -0.7% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: 10.8% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 12 of 12 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 13 people listed
  • Highest-paid contractors: 2 contractors listed · $582K reported
  • Consistency: 10 of 11 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.