Nevada Life & Health Insurance Guaranty Association

Nonprofit profile at a glance

EIN
942428532
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Roseville, CA, USA
Phone
9166311581
Rating
50
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$4,886,523
Expenses
$4,941,388
Assets
$17,642,464
Liabilities
$137,198

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

Leadership & pay

13 people listed

Executive titles in this filing

  • Todd Thakar The Thakar Group (Executive Director)

Highest reported compensation

  • Todd Thakar The Thakar Group (Executive Director): $144,000 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 purpose of the Nevada Life and Health Insurance Guaranty Association is to protect policyholders against the failure in the performance of contractual obligations under life, health and annuity policies because of the impairment or insolvency of insurer that issued their policy.

What it reported doing in 2025

The Nevada Life and Health Insurance Guaranty Association's purpose is to protect policy owners, insureds, beneficiaries, annuitants, payees and assignees of life insurance policies, health insurance policies, annuity contracts and supplemental contracts, subject to limitations provided by Nevada state law, in the event of the failure of the issuing insurance company. This activity is the Association's only program service and constitutes 100% of the Association's time. In 2025 the Association provided policyholder benefits to Nevada resident insureds of five insolvent insurers. The Association also provided support to insurance company receivers, former insureds, etc., of a number of other insolvencies.

Operating model

Revenue model
Other-operating. 88% 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 - 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: 90
  • Accountability: 90
  • Sustainability: 50
  • 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: 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; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -1.1%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 3.57; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 2.9%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: -30% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: 12.3% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 8.4% per year; rating input score 100; 51st percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 10 of 10 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $144K · 13 people listed
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 23/100.