Iowa Life And Health Insurance Guaranty Association

Organization Overview

Iowa Life And Health Insurance Guaranty Association is located in Des Moines, IA. The organization was established in 1988. According to its NTEE Classification (E80) the organization is classified as: Health (General & Financing), under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa 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 06/2023, Iowa Life And Health Insurance Guaranty Association generated $5.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (17.3%) each year. All expenses for the organization totaled $944.5k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (10.2%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE FUNDS FOR THE SETTLEMENT OF COVERED CLAIMS AGAINST IMPAIRED OR INSOLVENT MEMBER INSURERS AS DIRECTED UNDER THE IOWA LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION ACT, CODE OF IOWA, CHAPTER 508C.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION HAS ONLY ONE ACTIVITY AND THAT IS TO PROVIDE FUNDS FOR AND SETTLEMENT OF COVERED CLAIMS OF LIFE, HEALTH & ANNUITY POLICIES, PLANS, OR CONTRACTS OF INSOLVENT INSURANCE COMPANIES AND HEALTH MAINTENANCE ORGANIZATIONS MADE BY IOWA RESIDENTS AS DIRECTED UNDER THE IOWA LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION ACT, CHAPTER 508C, CODE OF IOWA.


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Board, Officers & Key Employees

Name (title)Compensation
Name Not Listed
Director
$0
Name Not Listed
Director
$0
Name Not Listed
Director
$0
Name Not Listed
Director
$0
Name Not Listed
Director
$0
Lori K Geadelmann
Chair
$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$4,882,041
Investment income $222,834
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 $5,104,875

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