National Organization Of Life And Health Insurance Guaranty Assocs
- Assets
- $15.4m
- Revenue
- $6.9m
- Investments
- $0.0
- Employees
- 17
- Location
- Herndon, VA
- Founding
- 07/1997
- Data as of
- 12/2022
- EIN
- 54-1827452
Organization Overview
National Organization Of Life And Health Insurance Guaranty Assocs, operating under the name Nolhga, is located in Herndon, VA. 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. As of 12/2022, Nolhga employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nolhga 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 12/2022, Nolhga generated $6.9m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $7.2m during the year ending 12/2022. While expenses have increased by 3.4% per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
NOLHGA IS A VOLUNTARY ORGANIZATION OF THE LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATIONS OF ALL 50 STATES AND THE DISTRICT OF COLUMBIA. IT WAS PRINCIPALLY FORMED FOR THE PURPOSE OF COORDINATING AND REPRESENTING ITS MEMBER GUARANTY ASSOCIATIONS' INTERESTS IN MULTI-STATE INSURER INSOLVENCIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE YEAR NOLHGA COLLECTED AND DISSEMINATED INFORMATION RELATED TO LIFE AND HEALTH INSURANCE COMPANY IMPAIRMENTS AND INSOLVENCIES. IT SERVED AS A NATIONAL CLEARINGHOUSE FOR THE TRANSFER OF FUNDS AND THE RESOLUTION OF ISSUES AND PROBLEMS FACING LIFE AND HEALTH INSURANCE COMPANIES. IT PROVIDED A FORUM FOR ANALYSIS OF OPERATIONAL ISSUES FOR MEMBERS. NOLHGA ACTED ON BEHALF OF ITS MEMBER STATE GUARANTY ASSOCIATIONS TO ARRANGE CLAIMS PROCESSING COLLECT AND ANALYZE REINSURANCE BIDS AND COORDINATE AUDITS OF IMPAIRED OR INSOLVENT COMPANIES' FINANCIAL STATUS PERFORMED BY OUTSIDE FIRMS. NOLHGA PROVIDED PUBLICATIONS SUCH AS THE NOLHGA WIRE THE NOLHGA JOURNAL GA UPDATE THE NOLHGA YEAR-END REPORT TO THE MEMBERSHIP INSOLVENCY UPDATES ASSESSMENT INFORMATION INSOLVENCY STATISTICS MEMBERSHIP DIRECTORIES AND THE LIKE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kermitt Brooks Chair Board Of Directors | Trustee | 4 | $0 |
Nancy Davenport Vice Chair Board Of Directors | Trustee | 4 | $0 |
Ted Lewis Secretary Board Of Directors | Trustee | 4 | $0 |
Germaine Marks Treasurer Board Of Directors | Trustee | 4 | $0 |
Robert Corn Immediate Past Chair Board Of Directors | Trustee | 4 | $0 |
Margaret Sperry Mpc Chair Board Of Directors | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Faegre Drinker Biddle & Reath Llp Legal | 12/30/22 | $3,196,686 |
Strohm Ballweg Llp Financial | 12/30/22 | $698,310 |
Actuarial Management Resources Inc Third Party Claims Administration | 12/30/22 | $402,509 |
Long Term Care Group Inc Actuarial | 12/30/22 | $384,535 |
Davies Life & Health Inc Third Party Claims Administration | 12/30/22 | $376,039 |
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 | $6,801,101 |
| Investment income | $88,213 |
| 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 | $6,898,114 |
| 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. | $2,496,274 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,702,466 |
| Pension plan accruals and contributions | $318,722 |
| Other employee benefits | $377,524 |
| Payroll taxes | $191,637 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,419 |
| Fees for services: Accounting | $50,447 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $137,471 |
| Advertising and promotion | $0 |
| Office expenses | $110,697 |
| Information technology | $153,068 |
| Royalties | $0 |
| Occupancy | $279,270 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,291,973 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,931 |
| Insurance | $111,000 |
| All other expenses | $0 |
| Total functional expenses | $7,237,159 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,835,026 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,423,019 |
| 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 | $163,183 |
| Net Land, buildings, and equipment | $27,944 |
| Investments—publicly traded securities | $4,007,266 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,956,888 |
| Total assets | $15,413,326 |
| Accounts payable and accrued expenses | $1,371,435 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $4,255,712 |
| 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 | $3,136,265 |
| Total liabilities | $8,763,412 |
| Net assets without donor restrictions | $6,649,914 |
| 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 | $15,413,326 |