Kansas Insurance Guaranty Association
- Assets
- $37.5m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Denver, CO
- Founding
- 04/1973
- Data as of
- 12/2021
- EIN
- 23-7166555
Organization Overview
Kansas Insurance Guaranty Association is located in Denver, CO. The organization was established in 1973. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kansas 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 12/2021, Kansas Insurance Guaranty Association generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.1%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (9.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EFFICIENTLY PAY COVERED CLAIMS OF POLICYHOLDERS AND CLAIMANTS OF INSOLVENT PROPERTY AND CASUALTY INSURERS ACCORDING TO THE KANSAS INSURANCE GUARANTY ASSOCIATION ACT IN COOPERATION WITH REGULATORS AND RECEIVERS, WHILE RESPONSIBLY MANAGING THE FUNDS OF THE ASSOCIATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KANSAS INSURANCE GUARANTY ASSOCIATION REVIEWED OVER 80 CLAIM FILES IN 2021 AND HAD 73 CLAIMS PENDING AT YEAR END. OVER 1,600 CHECKS WERE ISSUED TO CLAIMANTS AND PROVIDERS DURING 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Pechar Rep The Travelers Board Vice Chair | Trustee | 1 | $0 |
Chris Brown Rep Upland Mutual Board Chair | Trustee | 1 | $0 |
Ricky Keaton Rep The Hartford Board Member | Trustee | 1 | $0 |
Kim Decker Rep Farmers Ins Board Member | Trustee | 1 | $0 |
Andy Edwardson Rep Farmers Alliance Board Member | Trustee | 1 | $0 |
Dave Allsop Rep State Farm Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wellness Way Inc Dba Ami Wellness Home Health Svs Medical | 12/30/21 | $240,704 |
Corvel Corporation Medical | 12/30/21 | $110,308 |
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 | $284,625 |
| Investment income | $999,830 |
| 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 | $1,284,455 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,504,697 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250,000 |
| Savings and temporary cash investments | $37,226,939 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $50,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $37,526,939 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $37,526,939 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $37,526,939 |
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|---|---|---|
Dolese Bros Co Veba Trust Oklahoma City, OK | $445,170 | $18,567,104 |
Security Benefit Voluntary Employee Benefits Trust Topeka, KS | $8,971,647 | $18,230,736 |
Worldatwork Scottsdale, AZ | $26,461,650 | $14,061,947 |
Balls Price Chopper Employee Benefit Plan & Trust Kansas City, KS | $0 | $12,111,807 |
National Crop Insurance Services Incorporated Overland Park, KS | $14,876,300 | $11,753,443 |
Ag Processing Inc Welfare Benefits Funds Omaha, NE | $532,385 | $8,388,903 |
Utah Automobile Dealers Association Insurance Trust Murray, UT | $2,618,814 | $8,161,346 |
Kaiser-Francis Employees Benefit Tr Tulsa, OK | $1,100,579 | $8,088,672 |
Whitney Benefits Inc Sheridan, WY | $0 | $8,065,168 |
City Of Hope Self Ins Trust 1-08243-00-2 Union Bank Ttee Phoenix, AZ | $2,960,993 | $6,033,607 |
New Mexico Property Insurance Program Albuquerque, NM | $10,306,888 | $4,751,492 |
Arizona Childrens Risk Solutions Phoenix, AZ | $42,245,805 | $7,064,411 |