North Carolina Life And Accident And Health Insurance Guaranty Asso

Organization Overview

North Carolina Life And Accident And Health Insurance Guaranty Asso is located in Raleigh, NC. The organization was established in 1979. According to its NTEE Classification (E80) the organization is classified as: Health (General & Financing), under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina Life And Accident And Health Insurance Guaranty Asso 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, North Carolina Life And Accident And Health Insurance Guaranty Asso generated $2.3m 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 (7.9%) 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 (10.4%) 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

THE GUARANTY ASSOCIATION WAS ESTABLISHED TO PROVIDE CERTAIN PROTECTIONS TO NORTH CAROLINA POLICYHOLDERS OF IMPAIRED OR INSOLVENT INSURERS IN ACCORDANCE WITH NORTH CAROLINA GENERAL STATUTE 58-62

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE GUARANTY ASSOCIATION WAS ESTABLISHED TO PROVIDE CERTAIN PROTECTIONS TO NORTH CAROLINA POLICYHOLDERS OF IMPAIRED OR INSOLVENT INSURERS.


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Board, Officers & Key Employees

Name (title)Compensation
Name Not Listed
Board Member
$0
Bradley E Taman
Executive Di
$0
Mathias Bishop
Director
$0
Sandra Johnson
Director
$0
Bcbs Of North Carolina
Board Member
$0
United Healthcare Ins Co Of Nc
Board Member
$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$2,129,752
Investment income $115,184
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 $2,298,655

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