Florida Insurance Guaranty Association Inc
501(c)(6)
Only null% goes to programs Growing revenue
Florida Insurance Guaranty Association Inc is a 501(c)(6) organization based in Tallahassee, Florida, registered in 1973, with $825,613,312 in FY2024 revenue. CharityIndex grades it A.
Po Box 14249, Tallahassee, FL, 32317 EIN 59-1378046 Since 1973
Revenue (FY2024)
$825.6M
▲ 72.6% vs prior year
Expenses (FY2024)
$542.7M
Net assets
$267.0M
Employees
24
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Florida Insurance Guaranty Association Inc— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating6 mo reserves · +34% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Florida Insurance Guaranty Association Inc: 6 mo reserves · +34% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Florida Insurance Guaranty Association Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
BTransparency10% of the rating3 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Florida Insurance Guaranty Association Inc: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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Mission
To provide a mechanism for the payment of covered claims of insolvent insurers and to assist in the detection and prevention of insurer insolvencies.
Contact & location
- Address
- Po Box 14249, Tallahassee, FL, 32317
- City
- Tallahassee
- State
- Florida
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $57.1M (FY2013) to $825.6M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $560.4MNet assets $267.0M
Operating margin
34.3%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$827.3M
Total liabilities
$560.4M
Net assets
$267.0M
Salaries & benefits
$6.5M
1% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $825,613,312▲72.6% | $542,743,873▼29.9% | $266,973,373▲1779% | $827,340,191▲33.9% | 990 |
| 2023 | $478,366,102▼26.0% | $773,886,119▲14.3% | -$15,896,068▼106% | $617,776,231▼2.3% | 990 |
| 2022 | $646,169,972▲826% | $677,050,862▲332% | $279,623,949▲96.2% | $632,385,089▲344% | 990 |
| 2021 | $69,775,108▲127% | $156,884,908▲99.5% | $142,504,839▼37.9% | $142,504,839▼37.9% | 990 |
| 2020 | $30,726,205▼7.2% | $78,648,502▲73.0% | $229,614,639▼17.3% | $229,614,639▼17.3% | 990 |
| 2019 | $33,099,802▼9.1% | $45,470,004▲220% | $277,536,936▼4.3% | $277,536,936▼4.3% | 990 |
| 2018 | $36,407,539▼0.8% | $14,225,337▲2.0% | $289,907,138▲8.3% | $289,907,138▲8.3% | 990 |
| 2017 | $36,700,432▼20.7% | $13,952,541▼25.8% | $267,724,936▲9.3% | $267,724,936▲9.3% | 990 |
| 2016 | $46,298,129▲53.4% | $18,805,392▼38.9% | $244,977,045▲12.6% | $244,977,045▲12.6% | 990 |
| 2015 | $30,182,992▼44.6% | $30,757,229▼49.8% | $217,484,308▼0.3% | $217,484,308▼0.3% | 990 |
| 2014 | $54,450,070▼4.6% | $61,286,140▲3.2% | $218,058,545▼3.0% | $218,058,545▼3.0% | 990 |
| 2013 | $57,074,469 | $59,369,850▼38.5% | $224,894,615▼1.0% | $224,894,615▼1.0% | 990 |
| 2012 | — | $96,555,092▼44.7% | $227,189,996▲55.8% | $227,189,996▲55.8% | 990 |
| 2011 | — | $174,708,365▲68.0% | $145,866,647▼31.6% | $145,866,647▼31.6% | 990 |
| 2010 | — | $103,965,554 | $213,290,748 | $213,290,748 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: William Hughes — $183,371 (0.03% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| William Hughes | Vice President of Claims | 30 | $183,371 |
| Steven Brown | Chief Operating Officer | 20 | $166,991 |
| Veronica Degraff | Hr Director | 30 | $142,138 |
| Elizabeth Frisbie | Controller | 30 | $135,886 |
| Andrew Harris | It Manager | 30 | $134,311 |
| Corey Neal | Executive Director | 20 | $129,917 |
| Benjamin Treuil | Director | 2 | — |
| Brent Brummer | Director | 2 | — |
| Charles Lydecker | Director | 2 | — |
| Jon Ritchie | Director | 2 | — |
| Kimberly Blackburn | Chairman | 2 | — |
| Michael Dobson | Director | 2 | — |
| Ryan West | Director | 2 | — |
| Tasha Carter | Director | 2 | — |
| Tom Gallagher | Director | 2 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Riverwood Claims Management | Claim Handling Services | $2,155,446 |
| Fks Insurance Services | Claim Handling Services | $1,746,860 |
| Pacesetter Claims Services | Claim Handling Services | $1,305,500 |
| Alacrity Solutions Group | Claim Handling Services | $981,935 |
| Mid America Catastrophe Services | Claim Handling Services | $741,935 |
Frequently asked questions
- Is Florida Insurance Guaranty Association Inc a legitimate nonprofit?
- Yes. Florida Insurance Guaranty Association Inc is a 501(c)(6) organization registered with the U.S. Internal Revenue Service under EIN 59-1378046, based in Tallahassee, Florida.
- What is Florida Insurance Guaranty Association Inc's EIN?
- Florida Insurance Guaranty Association Inc's Employer Identification Number (EIN) is 59-1378046.
- How much revenue does Florida Insurance Guaranty Association Inc report?
- Florida Insurance Guaranty Association Inc reported $825,613,312 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Florida Insurance Guaranty Association Inc have?
- CharityIndex grades Florida Insurance Guaranty Association Inc A, based on financial health (reserves and operating margin).
- How much does Florida Insurance Guaranty Association Inc's highest-paid employee make?
- The highest reported compensation on Florida Insurance Guaranty Association Inc's latest Form 990 is $183,371, paid to William Hughes (Vice President of Claims).
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Data for Florida Insurance Guaranty Association Inc (EIN 59-1378046) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.