South Dakota Life And Health Insurance Guaranty Association
- Assets
- $3.5m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Sioux Falls, SD
- Founding
- 09/1997
- Data as of
- 12/2023
- EIN
- 46-0418983
Organization Overview
South Dakota Life And Health Insurance Guaranty Association is located in Sioux Falls, SD. The organization was established in 1997. 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. South Dakota 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, South Dakota Life And Health Insurance Guaranty Association generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 50.0% each year . All expenses for the organization totaled $501.1k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE BENEFITS TO POLICY OWNERS OF ANNUITY, LIFE, ACCIDENT AND HEALTH, AND SUPPLEMENTAL POLICIES OR CONTRACTS OF IMPAIRED OR INSOLVENT INSURER MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SOUTH DAKOTA LIFE & HEALTH INSURANCE GUARANTY ASSOCIATION (THE "ASSOCIATION") WAS CREATED IN SEPTEMBER 1989 AS A NON-PROFIT LEGAL ENTITY UNDER SDCL CHAPTER 58-29C OF THE SOUTH DAKOTA CODE. THE ASSOCIATION PERFORMS ITS FUNCTIONS UNDER A PLAN OF OPERATION ESTABLISHED AND APPROVED UNDER SDCL 58-29C-53 AND EXERCISES ITS POWERS THROUGH A BOARD OF DIRECTORS. THE ASSOCIATION CONSISTS OF MEMBER INSURERS THAT ARE AUTHORIZED TO TRANSACT LIFE, ANNUITY, OR ACCIDENT AND HEALTH INSURANCE IN THE STATE OF SOUTH DAKOTA. ALL MEMBER INSURERS SHALL BE AND REMAIN MEMBERS OF THE ASSOCIATION AS A CONDITION OF THE INSURERS' AUTHORITY TO TRANSACT INSURANCE IN SOUTH DAKOTA. THE ASSOCIATION WAS ESTABLISHED TO PROVIDE BENEFITS TO POLICY OWNERS OF ANNUITY, LIFE, ACCIDENT AND HEALTH, AND SUPPLEMENTAL POLICIES OR CONTRACTS OF IMPAIRED OR INSOLVENT INSURER MEMBERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Corn - Mutual Of Omaha Chairperson | OfficerTrustee | 2 | $0 |
James Harrison - Principal Life Vice Chair | OfficerTrustee | 1 | $0 |
Christa Kuennen - Wellmark Of Sd Secretary/treasurer | OfficerTrustee | 1 | $0 |
Alex D'agostino - New York Life Director | Trustee | 1 | $0 |
Edward Donahue - American Family Director | Trustee | 1 | $0 |
Paula Minella - Riversource Life Director | Trustee | 1 | $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 | $2,768,537 |
| Investment income | $52,832 |
| 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 | $2,821,369 |
| 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 | $263,152 |
| Fees for services: Accounting | $20,599 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $74,879 |
| Advertising and promotion | $0 |
| Office expenses | $8,030 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $13,152 |
| 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 | $53,803 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $67,496 |
| Total functional expenses | $501,111 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,066,319 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $471,874 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,538,193 |
| 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 | $3,538,193 |
| 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 | $3,538,193 |