Illinois Life & Health Insurance Guaranty Association
- Assets
- $105.0m
- Revenue
- $45.0m
- Investments
- $2.5m
- Employees
- 9
- Location
- Lisle, IL
- Founding
- 05/1981
- Data as of
- 12/2021
- EIN
- 36-3117539
Organization Overview
Illinois Life & Health Insurance Guaranty Association is located in Lisle, IL. The organization was established in 1981. 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 12/2021, Illinois Life & Health Insurance Guaranty Association employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois Life & Health 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, Illinois Life & Health Insurance Guaranty Association generated $45.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.5% each year . All expenses for the organization totaled $10.8m during the year ending 12/2021. While expenses have increased by 4.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
THE ASSOCIATION WAS ORGANIZED IN 1980 UNDER CHAPTER 215, ARTICLE XXXIII-I12 OF THE ILLINOIS INSURANCE CODE (THE "ACT") TO ASSURE THE FULFILLMENT OF COVERED POLICY OBLIGATIONS OF MEMBER INSURERS THAT ARE DETERMINED TO BE INSOLVENT BY A STATE DIRECTOR OF INSURANCE OR OTHER APPROPRIATE AUTHORITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE EXPENSES DURING 2021 WERE $11 MILLION OF WHICH $8 MILLION WAS PAID TO OR ON BEHALF OF POLICYHOLDERS. REVENUE DURING 2021 TOTALED $45 MILLION WHICH WAS COMPRISED OF $22 MILLION IN ESTATE DISTRIBUTIONS; $15 MILLION IN RESERVE TRANSFER ACTIVITY; $4 MILLION IN PREMIUM COLLECTIONS; $3 MILLION IN NET INVESTMENT INCOME AND $1 MILLION IN ASSESSMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janis Potter Executive Director | Officer | 40 | $436,954 |
Lillian Cilano Controller | 40 | $187,028 | |
Kelvin Schill Secretary-Treasurer | OfficerTrustee | 1 | $0 |
Jill Wolowitz Chair | OfficerTrustee | 1 | $0 |
David Hill Vice Chair | OfficerTrustee | 1 | $0 |
Daniel Rodgers Doi Appointee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lewis Roca Rothgerber Christie Llp Legal Services | 12/30/18 | $1,078,387 |
Evolent Health Llc Tpa Services | 12/30/18 | $151,750 |
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 | $42,763,147 |
| Investment income | $2,279,322 |
| 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 | $45,042,469 |
| 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. | $485,467 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $433,067 |
| Pension plan accruals and contributions | $61,397 |
| Other employee benefits | $203,471 |
| Payroll taxes | $56,897 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $414,930 |
| Fees for services: Accounting | $33,321 |
| Fees for services: Lobbying | $110,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $93,808 |
| Fees for services: Other | $81,691 |
| Advertising and promotion | $0 |
| Office expenses | $109,593 |
| Information technology | $172,949 |
| Royalties | $0 |
| Occupancy | $185,127 |
| Travel | $8,058 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,257 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $46,211 |
| Insurance | $5,131 |
| All other expenses | $0 |
| Total functional expenses | $10,777,914 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $477,764 |
| Savings and temporary cash investments | $3,180,017 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $82 |
| 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 | $6,564 |
| Net Land, buildings, and equipment | $49,480 |
| Investments—publicly traded securities | $98,700,108 |
| Investments—other securities | $2,547,626 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $55,779 |
| Total assets | $105,017,420 |
| Accounts payable and accrued expenses | $98,603 |
| 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 | $13,080,164 |
| Total liabilities | $13,178,767 |
| Net assets without donor restrictions | $1,038,875 |
| Net assets with donor restrictions | $90,799,778 |
| 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 | $105,017,420 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Heritage Group Employee Benefit Trust Indianapolis, IN | $5,252,708 | $48,474,958 |
Ssmhcs Liability Trust Mercantile Bank Ttee St Louis, MO | $216,786,212 | $51,161,074 |
Rush University Medical Centers Self-Insurance Trust For Healthcar Chicago, IL | $184,033,612 | $58,498,218 |
American United Life Insurance Company Welfare Benefits Trust Indianapolis, IN | $8,410,756 | $27,962,029 |
Hills Insurance Company Inc Mishawaka, IN | $233,016,594 | $7,136,194 |
Pohlad Group Veba Trust Milwaukee, WI | $1,880,360 | $21,238,879 |
Automatic Sprinkler-281 U A Welfare Fund Alsip, IL | $43,182,482 | $25,386,372 |
Learfield Communications Group Benefit Trust Inc Jefferson City, MO | $2,893,573 | $17,688,532 |
St Anthony's Med Cnt Prof & Gen Liab Milwaukee, WI | $0 | $2,384,132 |
Illinois Insurance Guaranty Fund Chicago, IL | $161,417,885 | $26,320,531 |
Healthalliance Benefit Plan Urbandale, IA | $4,354,956 | $14,851,406 |
Clara Abbott Foundation Abbott Park, IL | $224,191,754 | $3,270,470 |