Montana Insurance Guaranty Association
- Assets
- $15.8m
- Revenue
- $332.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Denver, CO
- Founding
- 01/1974
- Data as of
- 12/2021
- EIN
- 23-7334849
Organization Overview
Montana Insurance Guaranty Association is located in Denver, CO. The organization was established in 1974. According to its NTEE Classification (Y01) the organization is classified as: Alliances & Advocacy, 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. Montana 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, Montana Insurance Guaranty Association generated $332.4k 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 (15.9%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (8.7%) 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 EFFICIENTLY PAY COVERED CLAIMS OF POLICYHOLDERS AND CLAIMANTS OF INSOLVENT PROPERTY AND CASUALTY INSURERS ACCORDING TO MONTANA'S GUARANTY 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
MONTANA INSURANCE GUARANTY ASSOCIATION REVIEWED OVER 105 CLAIM FILES IN 2021 AND HAD 94 CLAIMS PENDING AT YEAR END. OVER 2,300 CHECKS WERE ISSUED TO CLAIMANTS AND PROVIDERS DURING 2021.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kim Decker Rep Farmers Insurance Board Member | Trustee | 1 | $0 |
Andrew Brekke Public Rep Board Member | Trustee | 1 | $0 |
Jaime Anderson Rep State Farm Ins Board Member | Trustee | 1 | $0 |
Melanie Thurlow Rep For Liberty Mut Board Member | Trustee | 1 | $0 |
Ruben Dominguez Rep Mtn West Farm Board Vice Chair | Trustee | 1 | $0 |
Kerri Bekker Rep Farmers Union Mut Board Chair | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Community Hospital Of Anaconda Medical | 12/30/20 | $114,064 |
Corvel Corporation Medical | 12/30/20 | $227,677 |
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 | $207,589 |
| Investment income | $124,848 |
| 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 | $332,437 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,310,235 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250,000 |
| Savings and temporary cash investments | $15,467,716 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $50,000 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,767,716 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $15,767,716 |
| 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 | $15,767,716 |
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San Mateo Hotel Employees And Restaurant Employees Welfare Fund San Jose, CA | $18,338,515 | $16,656,805 |
California Charter Schools Association Employee Welfare Benef Folsom, CA | $4,751,972 | $19,167,610 |
Hbg Flatiron Inc Broomfield, CO | $11,095,153 | $20,130,998 |
Electrical Medical Trust Houston, TX | $15,218,618 | $26,989,714 |
South Dakota Bankers Benefit Plan Trust Pierre, SD | $10,846,248 | $20,987,346 |
Usaa Employee Benefit Association Medical Acctive Lives Trust San Antonio, TX | $1,542,084 | $18,530,439 |
Dignity Health Hosp & Professional Liability Self-Insurance Trust San Francisco, CA | $0 | $32,275,072 |
Robert F Kennedy Farm Workers Medical Plan Keene, CA | $9,804,484 | $21,710,625 |
Unitypoint Rural Health Alliance Benefits Trust West Des Moines, IA | $3,657,607 | $21,953,031 |
Plumbers Welfare Fund-68 Houston, TX | $14,578,428 | $15,954,972 |
Dolese Bros Co Veba Trust Oklahoma City, OK | $445,170 | $18,567,104 |