Kansas Insurance Guaranty Association

Organization Overview

Kansas Insurance Guaranty Association is located in Denver, CO. The organization was established in 1973. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, 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. Kansas Insurance Guaranty Association 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, Kansas Insurance Guaranty Association generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.1%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (9.2%) per year over the past 7 years. 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 EFFICIENTLY PAY COVERED CLAIMS OF POLICYHOLDERS AND CLAIMANTS OF INSOLVENT PROPERTY AND CASUALTY INSURERS ACCORDING TO THE KANSAS INSURANCE GUARANTY ASSOCIATION ACT IN COOPERATION WITH REGULATORS AND RECEIVERS, WHILE RESPONSIBLY MANAGING THE FUNDS OF THE ASSOCIATION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

KANSAS INSURANCE GUARANTY ASSOCIATION REVIEWED OVER 80 CLAIM FILES IN 2021 AND HAD 73 CLAIMS PENDING AT YEAR END. OVER 1,600 CHECKS WERE ISSUED TO CLAIMANTS AND PROVIDERS DURING 2021.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Wellness Way Inc Dba Ami Wellness Home Health Svs
Medical
$240,704
Corvel Corporation
Medical
$110,308
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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$284,625
Investment income $999,830
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 $1,284,455

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