National Org of Life and Health Ins Guaranty Assoc
Nonprofit profile at a glance
- EIN
- 541827452
- IRS 990 coverage
- 2020–2025
- Forms available
- Form 990 2025
- Location
- Reston, VA, USA
- Phone
- 7037874114
- Rating
- 42
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $7,471,374
- Expenses
- $7,421,225
- Assets
- $668,759,378
- Liabilities
- $662,632,538
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
22 people listed
Executive titles in this filing
- William O'Sullivan (Senior Vice President General Counsel)
- Keith Sheridan (Vice President Accounting and Finance)
- Katharine Wade (President)
Highest reported compensation
- Katharine Wade (President): $843,884 total reported compensation
- William O'Sullivan (Senior Vice President General Counsel): $637,783 total reported compensation
- Keith Sheridan (Vice President Accounting and Finance): $377,769 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
NOLHGA is a voluntary organization of the life and health insurance guaranty associations of all 50 states and the District of Columbia. It was principally formed for the purpose of coordinating and representing its member guaranty associations interests in multi-state insurer insolvencies.
What it reported doing in 2025
During the year NOLHGA collected and disseminated information related to life and health insurance company impairments and insolvencies. It served as a national clearinghouse for the transfer of funds and the resolution of issues and problems facing life and health insurance companies. It provided a forum for analysis of operational issues for members. NOLHGA acted on behalf of its member state guaranty associations to arrange claims processing collect and analyze reinsurance bids and coordinate audits of impaired or insolvent companies financial status performed by outside firms. NOLHGA provided publications such as the NOLHGA Wire the NOLHGA Journal GA Update the NOLHGA Year-End Report to the Membership insolvency updates assessment information insolvency statistics membership directories and the like.
Operating model
- Revenue model
- Other-operating. 98% of the money available for current operations came from other operating 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 - Most voting board members are independent and the filed numbers largely add up. 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: 60
- Accountability: 95
- Sustainability: 43
- Growth: 60
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: 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; 63rd percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- 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: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 0.7%; rating input score 29; 29th percentile among comparable filings
- Total-asset coverage ratio: 90.11; rating input score 99; 99th percentile among comparable filings
- Liabilities to assets ratio: 0.99; rating input score 3; 3rd percentile among comparable filings
- Officer compensation ratio: 49.1%; rating input score 1; 1st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 4.8% per year; rating input score 100; 36th percentile among comparable filings
- Asset growth: 55.6% per year; rating input score 100; 98th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 15 of 15 board members independent · 8 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $844K · 22 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $10.7M reported
- Consistency: 29 of 44 current checks pass · 15 findings to review
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 5 filing years from 2020 to 2025
- Contacts: How to reach this organization
- Money network: 9 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
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.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Sustainability: Operating margin scored 29/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Officer compensation ratio scored 1/100.
- High — Sustainability: Liabilities to assets ratio scored 3/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX CompCurrentOfficersDirectors column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX ConferencesMeetings column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX DepreciationDepletion column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesAccounting column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesLegal column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesOther column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX InformationTechnology column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Insurance column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Occupancy column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX OfficeExpenses column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX OtherEmployeeBenefits column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX OtherSalariesAndWages column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX PayrollTaxes column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX PensionPlanContributions column sum did not reconcile in the filed values.