Tennessee Insurance Guaranty Association

Nonprofit profile at a glance

EIN
237182287
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Brentwood, TN, USA
Phone
6152426839
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$9,728,651
Expenses
$6,497,131
Assets
$180,066,652
Liabilities
$74,625,968

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

Leadership & pay

8 people listed

Highest reported compensation

  • LORRIE BROUSE (EXEC. SECRETARY): $175,680 total reported compensation
  • KERRY NATIONS (ADMINISTRATOR): $152,431 total reported compensation
  • BETH ANN DUFUR (CLAIM MANAGER): $117,226 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To operate a property and casualty self assessment guaranty fund as directed under Tennessee statute (see t.c.a. 56-12-101 et seq.).

What it reported doing in 2025

The sole activity is to operate a property and casualty self assessment guaranty fund which involves making assessments of member companies and the payment of claims arising from member insolvency as directed under Tennessee statute (see t.c.a. 56-12-101 et seq.).

Operating model

Revenue model
Investment-supported. 66% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - 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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 46
  • Transparency & Controls: 60
  • Accountability: 100
  • Sustainability: 75
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 41%; rating input score 41
  • Program expense ratio: 69.5%; rating input score 69
  • 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: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 33.2%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 27.71; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.41; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 6.9%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: -5.9% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -3.4% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 2.2% per year; rating input score 100; 18th percentile among comparable filings

Details

  • Where the money goes: 41% of revenue deployed · 69.5% of spending went to programs
  • Governance: 5 of 5 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4.5M in reported program spending
  • Leadership: top reported pay $176K · 8 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2M reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 3 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 41/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.