Massachusetts Life and Health Insurance Guaranty Association
100% goes to programs Thin reserves Growing revenue
Massachusetts Life and Health Insurance Guaranty Association is a 501(c)(6) organization based in Springfield, Massachusetts, with $120,684,233 in FY2024 revenue. CharityIndex grades it B, and it directs about 100% of spending to programs.
Po Box 3171, Springfield, MA, 01101 EIN 22-2994116
Revenue (FY2024)
$120.7M
▲ 704.5% vs prior year
Membership median: $185K
Expenses (FY2024)
$133.0M
Net assets
$5.9M
Employees
0
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B
C+Program efficiency40% of the rating100% to programs
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. For Massachusetts Life and Health Insurance Guaranty Association: 100% to programs earns a C+ on this criterion. See the exact thresholds →
C+Financial health25% of the rating1 mo reserves · -10% 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 Massachusetts Life and Health Insurance Guaranty Association: 1 mo reserves · -10% margin earns a C+ on this criterion. See the exact thresholds →
AGovernance25% of the rating5 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 Massachusetts Life and Health Insurance Guaranty Association: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
ATransparency10% of the rating4 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 Massachusetts Life and Health Insurance Guaranty Association: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
To pay claims against insolvent insurance companies licensed to transact life and health insurance in the commonwealth of massachusetts.
Contact & location
- Address
- Po Box 3171, Springfield, MA, 01101
- City
- Springfield
- State
- Massachusetts
- Category
- Mutual & Membership Benefit
- Subcategory
- Insurance Providers
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $11.0M (FY2013) to $120.7M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $132.8MNet assets $5.9M
Operating margin
-10.2%
Spent more than it raised in the latest fiscal year.
Total assets
$138.7M
Total liabilities
$132.8M
Net assets
$5.9M
Salaries & benefits
$121K
0% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $120,684,233▲704% | $132,976,201▲28748% | $5,913,726▼67.5% | $138,737,098▲655% | 990 |
| 2023 | $15,001,926▲39087% | $460,952▲14.8% | $18,201,197▲401% | $18,372,444▲386% | 990 |
| 2022 | $38,283▼94.9% | $401,527▲13.2% | $3,634,774▼9.1% | $3,778,679▼7.9% | 990 |
| 2021 | $749,754▲1181% | $354,614▼9.2% | $3,998,018▲11.0% | $4,101,790▲10.1% | 990 |
| 2020 | $58,536▼91.3% | $390,422▲9.5% | $3,602,878▼8.4% | $3,725,351▼8.3% | 990 |
| 2019 | $671,207▲10.2% | $356,532▲14.9% | $3,934,764▲8.7% | $4,061,524▲7.4% | 990 |
| 2018 | $609,165▼81.7% | $310,183▼89.3% | $3,620,089▲9.0% | $3,783,336▼9.2% | 990 |
| 2017 | $3,324,414▲713% | $2,890,119▲823% | $3,321,107▲15.0% | $4,164,774▲41.8% | 990 |
| 2016 | $408,729▼8.9% | $313,261▲4.4% | $2,886,812▲3.4% | $2,936,463▲3.7% | 990 |
| 2015 | $448,609▲113% | $299,982▼4.9% | $2,791,344▲5.6% | $2,832,479▲5.5% | 990 |
| 2014 | $210,727▼98.1% | $315,291▼97.7% | $2,642,717▼3.8% | $2,684,468▼4.2% | 990 |
| 2013 | $11,046,806 | $13,735,273▲729% | $2,747,281▼49.5% | $2,802,534▼48.8% | 990 |
| 2012 | — | $1,656,742▼1.6% | $5,435,748▲45.7% | $5,478,674▲45.1% | 990 |
| 2011 | — | $1,684,144▼9.6% | $3,730,307▼17.9% | $3,775,195▼17.6% | 990 |
| 2010 | — | $1,862,495 | $4,543,653 | $4,581,900 | 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 B Fisher Esquire — $120,750 (0.09% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| William B Fisher Esquire | Executive Director | 15 | $120,750 |
| Boston Mutual Life Insurance Co | Director | 1 | — |
| Grant Ward | Vice Chair | 1 | — |
| John Deitelbaum | Chair | 1 | — |
| John Hancock Life Insurance Co | Director | 1 | — |
| Mass Mutual Life Ins Co | Director | 1 | — |
| Metropolitan Life Insurance Co | Director | 1 | — |
| New York Life Insurance Company | Director | 1 | — |
| Paul Revere Life Insurance Co | Director | 1 | — |
| Principal Life Insurance Co | Director | 1 | — |
| Richard P Bowman Esquire | Secretary/treasurer | 1 | — |
| Sarah James | Assistant Secretary | 1 | — |
| Savings Bank Mutual Life Ins Co | Director | 1 | — |
| Unitedhealthcare Insurance Co | Director | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| William B Fisher | Executive Director | $120,750 |
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Compare Massachusetts Life and Health Insurance Guaranty Association
Frequently asked questions
- Is Massachusetts Life and Health Insurance Guaranty Association a legitimate nonprofit?
- Yes. Massachusetts Life and Health Insurance Guaranty Association is a 501(c)(6) organization registered with the U.S. Internal Revenue Service under EIN 22-2994116, based in Springfield, Massachusetts.
- What is Massachusetts Life and Health Insurance Guaranty Association's EIN?
- Massachusetts Life and Health Insurance Guaranty Association's Employer Identification Number (EIN) is 22-2994116.
- How much revenue does Massachusetts Life and Health Insurance Guaranty Association report?
- Massachusetts Life and Health Insurance Guaranty Association reported $120,684,233 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Massachusetts Life and Health Insurance Guaranty Association's spending goes to programs?
- Massachusetts Life and Health Insurance Guaranty Association spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Massachusetts Life and Health Insurance Guaranty Association have?
- CharityIndex grades Massachusetts Life and Health Insurance Guaranty Association B, based on program efficiency and fundraising cost.
- How much does Massachusetts Life and Health Insurance Guaranty Association's highest-paid employee make?
- The highest reported compensation on Massachusetts Life and Health Insurance Guaranty Association's latest Form 990 is $120,750, paid to William B Fisher Esquire (Executive Director).
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Data for Massachusetts Life and Health Insurance Guaranty Association (EIN 22-2994116) 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.