Nevada Insurance Guaranty Association
- Assets
- $26.6m
- Revenue
- $10.4m
- Investments
- $0.0
- Employees
- 4
- Location
- Las Vegas, NV
- Founding
- 10/1973
- Data as of
- 12/2023
- EIN
- 88-0134332
Organization Overview
Nevada Insurance Guaranty Association is located in Las Vegas, NV. The organization was established in 1973. According to its NTEE Classification (Y01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2023, Nevada Insurance Guaranty Association employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nevada 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 12/2023, Nevada Insurance Guaranty Association generated $10.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $3.4m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PAY CLAIMS OF INSOLVENT INSURANCE COMPANIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION ADMINISTERED AND PAID CLAIMS AND RELATED EXPENSES OF 2,566,927 TO POLICYHOLDERS ON BEHALF OF INSOLVENT INSURANCE COMPANIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joel Fierro Executive Di | Officer | 40 | $127,655 |
Joe Hernandez Secretary/tr | OfficerTrustee | 0.5 | $3,000 |
Peter M Cazzolla Chairperson | OfficerTrustee | 1 | $1,000 |
Cecil Autry Director | Trustee | 0.3 | $0 |
Michele Balady Director | Trustee | 0.3 | $0 |
Randi Cigelnik Director | Trustee | 0.5 | $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 | $0 |
| Investment income | $0 |
| 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 | $10,357,258 |
| 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. | $148,841 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $104,334 |
| Pension plan accruals and contributions | $11,419 |
| Other employee benefits | $32,786 |
| Payroll taxes | $20,448 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,618 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,051 |
| Advertising and promotion | $0 |
| Office expenses | $15,941 |
| Information technology | $217,432 |
| Royalties | $0 |
| Occupancy | $43,934 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,735 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $163,320 |
| All other expenses | $0 |
| Total functional expenses | $3,390,039 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,402,232 |
| Savings and temporary cash investments | $25,172,080 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $4,666 |
| 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 | $26,578,978 |
| 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 | $20,971,446 |
| Total liabilities | $20,971,446 |
| Net assets without donor restrictions | $5,607,533 |
| 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 | $26,578,979 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Receivables Management Association International Inc Sacramento, CA | $6,377,710 | $3,698,000 |
Nevada Insurance Guaranty Association Las Vegas, NV | $26,578,978 | $10,357,258 |
Idaho Surveying And Rating Bureau Inc Meridian, ID | $2,755,865 | $2,379,946 |
San Leandro Improvement Association San Leandro, CA | $617,308 | $909,925 |
California Clean Gas Association Sacramento, CA | $9,400 | $250,000 |
Holy Family Convent Alumni Association Of California Altadena, CA | $34,464 | $179,884 |
Brothers Of The Desert Corporation Palm Springs, CA | $65,078 | $132,104 |
Herencia Hispana San Diego San Diego, CA | $0 | $0 |
Youthbuild Collaborative Of Southern California Compton, CA | $34,233 | $0 |
Idaho Orthopaedic Society Boise, ID | $14,507 | $0 |
Marin Residents Fairfax, CA | $1,481 | $0 |
Thai American Samakkee Coalition Los Angeles, CA | $7,688 | $0 |
Anaheim Fire Family Anaheim, CA | $4,619 | $0 |