Michigan Life & Health Insurance Guaranty Association

Legal name: Michigan Life and Health Insurance Guaranty Association

Nonprofit profile at a glance

EIN
382602142
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Haslett, MI, USA
Phone
5173394500
Rating confidence
Limited

Official website

Reported finances

Revenue
$94,898,169
Expenses
$4,135,673
Assets
$102,182,337
Liabilities
$0

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

Leadership & pay

10 people listed

People named in this filing

  • KEVIN M HEIL CPA CGMA (DIRECTOR)
  • MOLLIE K ZITO (DIRECTOR)
  • LORRI RISHAR (DIRECTOR)

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 Michigan Life & Health Insurance Guaranty Association was created by the Michigan legislature to protect Michigan residents who are policyholders of life or health policies issued by an insolvent insurance company, up to specified limits.

What it reported doing in 2024

856 members of the association are subject to assessment, within certain limits, to provide funds to guarantee certain payments and coverage in the event of impairment or insolvency of member insurance companies. Claims were paid to policyholders or their beneficiaries for 4 insolvent companies during the year.

Operating model

Revenue model
Earned-program. 100% 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: 100
  • Sustainability: 99
  • Growth: 60

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; 68th 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; 77th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: 95.6%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 24.71; rating input score 98; 98th 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 98; 98th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 19% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 16.7% per year; rating input score 100; 89th percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 9 of 9 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 10 people listed
  • Highest-paid contractors: 1 contractor listed · $468K reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 15 filing years from 2010 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.