Florida Self-Insurers Guaranty Association Incorporated
- Assets
- $81.2m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 6
- Location
- Tallahassee, FL
- Founding
- 03/1984
- Data as of
- 12/2022
- 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 12/2022, Florida Self-Insurers Guaranty Association Incorporated employed 6 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 12/2022, Florida Self-Insurers Guaranty Association Incorporated generated $2.4m 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 (4.2%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (4.1%) per year over the past 8 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
2022
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 106 CURRENT SELF-INSURERS AND 134 FORMER SELF-INSURERS, AS WELL AS, ADMINISTRATION AND PAYMENT OF WORKERS' COMPENSATION CLAIMS OF 15 ACTIVE INSOLVENCIES WITH 34 CLAIMANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Claude D Revels Chairman | OfficerTrustee | 1 | $0 |
Charles A Bowden Vice-Chairman | OfficerTrustee | 1 | $0 |
Michele Adams Secretary | OfficerTrustee | 1 | $0 |
Travis Camp Treasurer | OfficerTrustee | 1 | $0 |
Alan Bender Director | Trustee | 1 | $0 |
Charles E Bailes IV Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $161,944 |
| 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 | $161,944 |
| Total Program Service Revenue | $1,492,707 |
| Investment income | $725,999 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $60 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,380,710 |
| 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. | $333,260 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $407,372 |
| Pension plan accruals and contributions | $81,475 |
| Other employee benefits | $42,684 |
| Payroll taxes | $44,838 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,975 |
| Fees for services: Accounting | $40,946 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,043 |
| Advertising and promotion | $0 |
| Office expenses | $30,921 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,650 |
| Travel | $6,254 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,226 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,545 |
| Insurance | $38,835 |
| All other expenses | $76 |
| Total functional expenses | $1,186,398 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $150,005 |
| Savings and temporary cash investments | $50,430,878 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,565,014 |
| 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 | $59,949 |
| Net Land, buildings, and equipment | $16,521 |
| Investments—publicly traded securities | $16,823,691 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $169,863 |
| Total assets | $81,215,921 |
| Accounts payable and accrued expenses | $447,601 |
| Grants payable | $0 |
| Deferred revenue | $3,391 |
| 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 | $18,152,285 |
| Total liabilities | $18,603,277 |
| Net assets without donor restrictions | $62,612,644 |
| 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 | $81,215,921 |