Delaware Life And Health Insurance Guaranty Assn

Organization Overview

Delaware Life And Health Insurance Guaranty Assn is located in Newark, DE. The organization was established in 1983. According to its NTEE Classification (Y03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Delaware Life And Health Insurance Guaranty Assn 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, Delaware Life And Health Insurance Guaranty Assn generated $464.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $838.6k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROTECT PERSONS SPECIFIED IN THE DELAWARE INSURANCE CODE AGAINST FAILURE IN THE PERFORMANCE OF CONTRACTURAL OBLIGATIONS, UNDER CERTAIN INSURANCE POLICIES AND ANNUITY CONTRACTS BECAUSE OF THE IMPAIRMENT OR INSOLVENCY

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE PURPOSE OF THE LARGEST PROGRAM OF THE DELAWARE LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION IS TO PROTECT SUBJECT TO CERTAIN LIMITATIONS, THE PERSONS SPECIFIED IN CHAPTER 44 OF THE DELAWARE INSURANCE CODE AGAINST FAILURE IN THE PERFORMANCE OF CONTRACTURAL OBLIGATIONS, UNDER LIFE AND HEALTH INSURANCE POLICIES AND ANNUITY CONTRACTS SPECIFIED IN CHAPTER 44 OF THE DELAWARE INSURANCE CODE, BECAUSE OF THE IMPAIRMENT OR INSOLVENCY OF THE MEMBER INSURER THAT ISSUED THE POLICIES OR CONTRACTS.


THE PURPOSE OF THE OTHER PROGRAM OF THE DELAWARE LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION IS TO PROVIDE FUNDING FOR THE SOLVENCY OVERSIGHT OF THE MEMBER COMPANIES BTY THE DELAWARE INSURANCE COMMISSIONER, THEREBY MINIMIZING THE EXPENSE OF THE PROGRAM LISTED IN 4A PER CHANTER 44 OF THE DELAWARE INSURANCE CODE.


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Board, Officers & Key Employees

Name (title)Compensation
Jack J Falkenbach See Schedule O
Executive Di
$100,923
Richard Bowman
Chairman
$0
Barry Miller
Executive Di
$0
Nancy Davenport
Vice-Chairma
$0
Richard M Dunlevy
Secretary
$0
Name Not Listed
Director
$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$433,793
Investment income $31,057
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 $464,850

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