Oregon Life And Health Insurance Guaranty Association

Organization Overview

Oregon Life And Health Insurance Guaranty Association is located in Meridian, ID. The organization was established in 1995. 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. Oregon Life And 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 12/2022, Oregon Life And Health Insurance Guaranty Association generated $319.9k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $254.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE PROTECTION TO OREGON RESIDENT POLICYHOLDERS AND THEIR BENEFICIARIES IN THE EVENT OF THE INSOLVENCY OF THE INSURANCE COMPANY THAT ISSUED THEIR LIFE, HEALTH, OR ANNUITY INSURANCE POLICY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE OREGON LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION'S PURPOSE IS TO PROVIDE PROTECTION TO OREGON RESIDENT POLICYHOLDERS AND THEIR BENEFICIARIES IN THE EVENT OF THE FAILURE OF THE INSURANCE COMPANY THAT ISSUED THEIR LIFE, HEALTH OR ANNUITY INSURANCE POLICY. THIS ACTIVITY IS THE ASSOCIATION'S ONLY PROGRAM SERVICE AND CONSTITUTES 100% OF THE ASSOCIATION'S TIME. IN 2022 THE ASSOCIATION PROVIDED POLICYHOLDER BENEFITS TO OREGON RESIDENT INSUREDS OF SIX INSOLVENT INSURERS. THE ASSOCIATION ALSO PROVIDED SUPPORT TO INSURANCE COMPANY RECEIVERS, FORMER INSUREDS, ETC., OF 11 OPEN INSOLVENCY ESTATES AND MANY CLOSED ESTATES.


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Board, Officers & Key Employees

Name (title)Compensation
Candie Kinch
Executive Director
$96,000
Justin Delaney
Chairman Of The Board Of Directors
$0
Garrett Paddor
Secretary/treasurer Of The Board Of Directors
$0
Name Not Listed
Director
$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$234,145
Investment income $85,792
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 $319,937

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