New Jersey Life And Health Insurance Guaranty Association

Organization Overview

New Jersey Life And Health Insurance Guaranty Association is located in Lincroft, NJ. The organization was established in 1994. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2023, New Jersey Life And Health Insurance Guaranty Association employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Jersey Life And Health Insurance Guaranty Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 12/2023, New Jersey Life And Health Insurance Guaranty Association generated $23.9m in total revenue. All expenses for the organization totaled $947.0k during the year ending 12/2023.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

THE NJ LIFE HEALTH INSURANCE GUARANTY ASSOCIATION WAS ESTABLISHED BY STATUTE TO PROVIDE CERTAIN PROTECTIONS TO POLICYHOLDERS OF IMPAIRED OR INSOLVENT INSURERS IN ACCORDANCE WITH NJ STATUTE 17B32A-1, ET SEQ.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ASSOCIATION MADE PAYMENTS TO PROVIDE CERTAIN PROTECTIONS TO POLICYHOLDERS OF IMPAIRED OR INSOLVENT INSURERS IN ACCORDANCE WITH NJ STATUTE 17B32A-1, ET SEQ.


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Board, Officers & Key Employees

Name (title)Compensation
Felix Schirripa
Executive Director
$140,000
Ny Life Insurance D Wheeler
Chair
$0
United Healthcare Ins Co K Ericson
Vice-Chair
$0
Lincoln Life Annuity Co R Sheppard
Secretary
$0
Massmutual E Weinstein
Treasurer
$0
Prudential Financail B Quigley
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$0
Investment income $607,682
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $23,862,082

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