New Hampshire Life And Health Insurance Guaranty Association
- Assets
- $1.5m
- Revenue
- $566.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Bedford, NH
- Founding
- 10/1975
- Data as of
- 12/2021
- EIN
- 51-0138977
Organization Overview
New Hampshire Life And Health Insurance Guaranty Association is located in Bedford, NH. The organization was established in 1975. 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. New Hampshire 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 12/2021, New Hampshire Life And Health Insurance Guaranty Association generated $566.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $281.2k during the year ending 12/2021. While expenses have increased by 2.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
NEW HAMPSHIRE LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION WAS ESTABLISHED TO PROVIDE CERTAIN PROTECTIONS TO POLICYHOLDERS OF INSOLVENT INSURERS IN ACCORDANCE WITH THE STATE GUARANTY ASSOCIATION ACT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE YEAR, NEW HAMPSHIRE LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION PROVIDED CERTAIN PROTECTIONS TO POLICYHOLDERS OF INSOLVENT INSURERS IN ACCORDANCE WITH THE STATE GUARANTY ASSOCIATION ACT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura A Condon Administrator | Officer | 40 | $112,002 |
John Hancock Life Ins Co Usa Rep- James C. Hoodlet | OfficerTrustee | 1 | $0 |
The Lincoln National Life Ins Rep- Robert O. Sheppard | OfficerTrustee | 1 | $0 |
Protective Life Ins Co Rep- Gregory M. Redmond | Trustee | 1 | $0 |
National Life Insurance Co Rep- Keith M. Jones | Trustee | 1 | $0 |
Fidelity Investments Life Ins Rep- Robert K. Leach | 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 | $548,921 |
| Investment income | $4,746 |
| 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 | $566,509 |
| 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. | $112,002 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $11,200 |
| Other employee benefits | $15,974 |
| Payroll taxes | $8,680 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,737 |
| Fees for services: Accounting | $13,326 |
| 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 | $3,335 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,164 |
| 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 | $329 |
| Insurance | $2,784 |
| All other expenses | $0 |
| Total functional expenses | $281,174 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,508,672 |
| 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 | $1,070 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,509,742 |
| Accounts payable and accrued expenses | $3,782 |
| 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 | $11,200 |
| Total liabilities | $14,982 |
| Net assets without donor restrictions | $1,494,760 |
| 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 | $1,509,742 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Massachusetts Mutual Employee Health Benefit Tr Springfield, MA | $6,593,525 | $93,603,894 |
Delta Dental Plan Of Vermont Inc Concord, NH | $39,409,288 | $93,240,875 |
Maine Guaranteed Access Reinsurance Association Portland, ME | $111,387,710 | $103,548,873 |
Carepartners Of Connecticut Inc Canton, MA | $21,597,096 | $24,446,230 |
T1d Exchange Inc Boston, MA | $15,898,353 | $12,562,518 |
Western Reserve Health Education Inc Westwood, MA | $3,591,710 | $7,850,757 |
Massachusetts Association Of Health Boards Inc Wellesley Hills, MA | $872,591 | $3,657,088 |
Fishing Partnership Health Plan Corporation New Bedford, MA | $1,468,347 | $3,394,426 |
New England Telehealth Consortium Bangor, ME | $1,337,342 | $3,057,335 |
New Hampshire Health Information Organization Corporation Concord, NH | $99,559 | $1,471,668 |
Pharos Global Health Advisors Ltd Newton, MA | $994,555 | $1,267,855 |
Gst Health Benefit Trust Weare, NH | $5,000 | $1,018,394 |