Massachusetts Insurers Insolvency Fund

Organization Overview

Massachusetts Insurers Insolvency Fund is located in Boston, MA. The organization was established in 1974. 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. Massachusetts Insurers Insolvency Fund 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, Massachusetts Insurers Insolvency Fund generated $27.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.1% each year . All expenses for the organization totaled $9.5m 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 MASSACHUSETTS STATE STATUTE, CHAPTER 1 75 D, G. L. MASS., ENACTED AS CHAPTER 261, LAWS 1970.

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 MASSACHUSETTS STATE STATUTE.


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Tmesys Llc
Rx Drug Service
$1,059,505
Nixon Peabody Llp
Legal
$318,710
Mccarthy Kenney & Reidy Pc
Legal
$140,168
Matrix Home Care Llc
Home Health Care Services
$198,095
View All Vendors

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$25,368,918
Investment income $2,181,787
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $212,134
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $27,762,839

Create an account to unlock the data you need.

or