Florida Self-Insurers Guaranty Association Incorporated
- Assets
- $88.7m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 7
- Location
- Tallahassee, FL
- Founding
- 03/1984
- Data as of
- 12/2021
- EIN
- 59-2225004
Organization Overview
Florida Self-Insurers Guaranty Association Incorporated is located in Tallahassee, FL. The organization was established in 1984. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Florida Self-Insurers Guaranty Association Incorporated employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida Self-Insurers Guaranty Association Incorporated 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, Florida Self-Insurers Guaranty Association Incorporated generated $3.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.5%) per year over the past 7 years. 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
TO PROVIDE FUNDS FOR THE SETTLEMENT OF COVERED WORKERS' COMPENSATION CLAIMS OF INDIVIDUAL INSOLVENT SELF-INSURERS OTHER THAN PUBLIC UTILITIES OR GOVERNMENTAL ENTITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ADMINISTRATIVE AND PROFESSIONAL SERVICES TO SUPPORT THE REGULATION OF 112 CURRENT SELF-INSURERS AND 132 FORMER SELF-INSURERS, AS WELL AS, ADMINISTRATION AND PAYMENT OF WORKERS' COMPENSATION CLAIMS OF 16 ACTIVE INSOLVENCIES WITH 41 CLAIMANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Gee Executive Director | Officer | 40 | $241,553 |
Renn R Vickers Asst Exec Director/operati | 40 | $130,200 | |
Claude D Revels Chairman | OfficerTrustee | 1 | $0 |
Charles A Bowden Vice-Chairman | OfficerTrustee | 1 | $0 |
Dean Painter Treasurer | OfficerTrustee | 1 | $0 |
Michele Adams Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $192,656 |
| 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 | $192,656 |
| Total Program Service Revenue | $873,792 |
| Investment income | $764,627 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,299,047 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,130,122 |
| 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. | $322,297 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $399,270 |
| Pension plan accruals and contributions | $96,356 |
| Other employee benefits | $42,109 |
| Payroll taxes | $43,917 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,626 |
| Fees for services: Accounting | $39,151 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,400 |
| Advertising and promotion | $0 |
| Office expenses | $42,576 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $61,004 |
| Travel | $3,143 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $807 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,759 |
| Insurance | $36,170 |
| All other expenses | $57 |
| Total functional expenses | $1,197,981 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $183,290 |
| Savings and temporary cash investments | $52,424,426 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,573,760 |
| 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 | $64,151 |
| Net Land, buildings, and equipment | $17,554 |
| Investments—publicly traded securities | $18,176,943 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $216,065 |
| Total assets | $88,656,189 |
| Accounts payable and accrued expenses | $440,695 |
| Grants payable | $0 |
| Deferred revenue | $582 |
| 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 | $24,514,115 |
| Total liabilities | $24,955,392 |
| Net assets without donor restrictions | $63,700,797 |
| 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 | $88,656,189 |
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|---|---|---|
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Alabama Farmers Cooperative Employees Welfare Benefit Plan Decatur, AL | $562,417 | $15,709,334 |
Thompson Tractor Co Inc Employee Benefit Trust Birmingham, AL | $5,674,629 | $15,989,582 |
Cwm Employee Benefit Trust Marietta, GA | $2,913,278 | $11,844,381 |
Alabama Insurance Guaranty Association Birmingham, AL | $168,293,024 | $6,611,625 |
Georgia Insurers Insolvency Pool Duluth, GA | $145,962,190 | $6,621,081 |
The University Of South Alabama Professional Liability Trust Fund Mobile, AL | $52,169,275 | $10,546,535 |
Florida Surplus Lines Service Office Tallahassee, FL | $53,775,536 | $9,728,040 |
Mcelroy Truck Lines Inc Medical Benefit Plan Cuba, AL | $1,269 | $5,259,792 |
Caspers Inc Employees Benefit Trust Tampa, FL | $605,541 | $4,723,581 |
Mssa Ila Supplemental Benefit Fund Mobile, AL | $9,271,097 | $4,632,071 |
Plumbers And Pipefitters Local 123 Welfare Fund Jacksonville, FL | $13,848,686 | $6,651,358 |