Connecticut Insurance Guaranty Association

Organization Overview

Connecticut Insurance Guaranty Association is located in Boston, MA. 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. Connecticut 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, Connecticut Insurance Guaranty Association generated $6.3m 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 (21.5%) each year. All expenses for the organization totaled $22.4m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

DURING THE YEAR THE ASSOCIATION PROVIDED PROTECTION TO POLICYHOLDERS & CLAIMANTS OF INSOLVENT INSURERS IN ACCORDANCE WITH THE CONNECTICUT STATE STATURE, CHAPTER 704A, SECTION 38A-842 OF THE CONNECTICUT INSURANCE LAWS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

DURING THE YEAR THE ASSOCIATION PROVIDED PROTECTION TO POLICYHOLDERS AND CLAIMANTS OF INSOLVENT INSURERS IN ACCORDANCE WITH THE CONNECTICUT STATE STATUTE.


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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$5,080,891
Investment income $1,221,690
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$2,859
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $6,299,722

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