Ltc Reinsurance Pcc
- Assets
- $2.2b
- Revenue
- $98.5m
- Investments
- $289.0k
- Employees
- 0
- Location
- Washington, DC
- Founding
- 03/2017
- Data as of
- 12/2021
- EIN
- 82-0648671
Organization Overview
Ltc Reinsurance Pcc is located in Washington, DC. The organization was established in 2017. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Ltc Reinsurance Pcc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
LTC RE IS A PROTECTED CELL CAPTIVE INSURANCE COMPANY FORMED BY THE NATIONAL ORGANIZATION OF LIFE AND HEALTH GUARANTY ASSOCIATIONS, WHOSE MEMBERS ARE LIFE AND HEALTH INSURANCE STATE GUARANTY ASSOCIATIONS AFFECTED BY THE INSOLVENCY OF PENN TREATY NETWORK AMERICA INSURANCE COMPANY AND/OR ITS WHOLLY OWNED SUBSIDIARY, AMERICAN NETWORK INSURANCE COMPANY. THE MEMBERS REINSURE THEIR OBLIGATIONS TO LTC RE TO SERVICE THE COVERED POLICYHOLDERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GUARANTY ASSOCIATIONS PROVIDE THE INSURANCE INDUSTRY AND ITS CONSUMERS WITH A SAFETY NET IN THE EVENT A LIFE AND HEALTH INSURANCE COMPANY BECOMES INSOLVENT AND UNABLE TO PAY CLAIMS
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 |
|---|---|---|---|
Eric Rangen President | OfficerTrustee | 2 | $0 |
Peter Gallanis Secretary | OfficerTrustee | 1 | $0 |
Russell Smith Treasurer | OfficerTrustee | 1 | $0 |
Brenda Cushing Chief Financial Officer | Officer | 13.5 | $0 |
Jodi Anatole Chief Operating Officer | Officer | 12 | $0 |
Aaron Ball Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wellington Management Company Llp Investment Management | 12/30/21 | $1,430,884 |
Triplus Services Inc Third Party Admin/accounting | 12/30/21 | $9,936,582 |
Faegre Drinker Biddle & Reath Llp Legal/compliance Services | 12/30/21 | $988,038 |
Bc Consulting Llc Cfo Management Services | 12/30/21 | $210,805 |
Long Term Care Group Actuarial Services | 12/30/21 | $642,898 |
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 | $10,404,817 |
| Investment income | $56,984,922 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $31,062,194 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $98,451,933 |
| 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 | $128,864 |
| Fees for services: Legal | $970,238 |
| Fees for services: Accounting | $683,655 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,678,783 |
| Fees for services: Other | $663,192 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $26,008 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $414,084 |
| All other expenses | $92,382 |
| Total functional expenses | $61,711,715 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,237,491 |
| 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 | $31,707,920 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $69,425 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,541,906,574 |
| Investments—other securities | $288,958 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $621,247,807 |
| Total assets | $2,201,458,175 |
| Accounts payable and accrued expenses | $1,364,894 |
| Grants payable | $0 |
| Deferred revenue | $15,420,727 |
| 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 | $2,162,985,142 |
| Total liabilities | $2,179,770,763 |
| Net assets without donor restrictions | $0 |
| 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 | $21,687,412 |
| Total liabilities and net assets/fund balances | $2,201,458,175 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Soundexchange Inc Washington, DC | $739,346,856 | $68,696,516 |
Ltc Reinsurance Pcc Washington, DC | $2,201,458,175 | $98,451,933 |
Green Business Certification Inc Washington, DC | $85,505,548 | $44,270,395 |
Council Of Better Business Bureaus Inc Arlington, VA | $12,407,236 | $29,190,679 |
Alliance For Lifetime Income Washington, DC | $7,619,918 | $19,897,111 |
Ltc Reinsurance Pcc Washington, DC | $361,855,078 | $23,669,640 |
Urac Washington, DC | $81,439,201 | $26,248,621 |
Virginia Equine Alliance Warrenton, VA | $24,647,483 | $20,710,903 |
North American Meat Institute Washington, DC | $15,669,601 | $11,771,364 |
Yaplus Arlington, VA | $14,080,198 | $11,268,285 |
Structured Finance Industry Group Inc Washington, DC | $15,991,884 | $10,124,152 |
Virginia Utility Protection Service Inc Roanoke, VA | $16,444,690 | $8,907,059 |