The Life and Health Insurance Company Guaranty Corporation of New York

Legal name: The Life and Health Insurance Company Guaranty Corporation of Ne

Nonprofit profile at a glance

EIN
133528849
IRS 990 coverage
2010–2025
Official website data refreshed
Aug 2026
Forms available
Form 990 2025
Location
Ossining, NY, US
Phone
212-202-4243
Rating
48
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$4,324,749
Expenses
$4,937,322
Assets
$30,918,941
Liabilities
$0

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

Leadership & pay

14 people listed

People named in this filing

  • James Donellan (Vice-Chairman and Director)
  • Kaitlin Asrow (Chairman, Ex Officio)

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 protect New York resident policyholders of life and health insurance policies, annuity contracts, and funding agreements in the event of a member insurer insolvency.

What it reported doing in 2025

The Corporation assumed the ownership of all long-term care insurance contracts issued by American Independent Network Insurance Company of New York ("AINIC") upon its dissolution. At December 31, 2025, the Corporation was responsible for approximately $36 million of potential benefits payable under the AINIC contracts. To cover the initial cost of these obligations, the Corporation assessed its member companies a total of $25 million, of which $24.1 million was collected in 2024 and $884 thousand was collected in 2025.

Operating model

Revenue model
Other-operating. 90% 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: 88
  • Sustainability: 50
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: -14.2%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 6.26; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 96; 96th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 90; 90th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -24.2% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 14.1% per year; rating input score 100; 72nd percentile among comparable filings

Details

  • What they do: 3 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 13 of 13 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $4.9M in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Highest-paid contractors: 1 contractor listed · $195K reported
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 14 filing years from 2010 to 2025
  • 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.

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 — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 7/100.