North Carolina Joint Underwriting Association
501(c)(6)
Growing revenue
North Carolina Joint Underwriting Association is a 501(c)(6) organization based in Raleigh, North Carolina, registered in 1971, with $232,772,463 in FY2024 revenue.
751 Corporate Center Dr, Raleigh, NC, 27607 EIN 56-1222676 Since 1971
Revenue (FY2024)
$232.8M
▲ 40.6% vs prior year
Expenses (FY2024)
$234.1M
Net assets
$25.9M
Employees
210
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
—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 North Carolina Joint Underwriting Association— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
C+Financial health25% of the rating1 mo reserves · -1% 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 North Carolina Joint Underwriting Association: 1 mo reserves · -1% 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 North Carolina Joint Underwriting 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 North Carolina Joint Underwriting Association: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
In 1969, the north carolina general assembly established the association as a market of last resort to provide property insurance for individuals and businesses who are unable to buy it in the standard insurance market. all property and casualty insurance companies doing business in north carolina are required by statute to participate in funding the operations of the association, and they share in its losses on pro rata basis. the association is not an agency of the state government, but its regulated by the north carolina commissioner of insurance.
Contact & location
- Address
- 751 Corporate Center Dr, Raleigh, NC, 27607
- City
- Raleigh
- State
- North Carolina
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $36.5M (FY2013) to $232.8M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $200.6MNet assets $25.9M
Operating margin
-0.6%
Spent more than it raised in the latest fiscal year.
Total assets
$226.5M
Total liabilities
$200.6M
Net assets
$25.9M
Salaries & benefits
$9.6M
4% of expenses
Board members
14
12 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $232,772,463▲40.6% | $234,114,213▲48.0% | $25,908,414▼6.8% | $226,493,783▲27.5% | 990 |
| 2023 | $165,509,271▲26.7% | $158,154,651▲17.9% | $27,785,798▲25.8% | $177,588,155▲28.3% | 990 |
| 2022 | $130,581,422▲17.3% | $134,189,979▲22.1% | $22,086,066▲2.6% | $138,408,796▲15.1% | 990 |
| 2021 | $111,313,450▲12.9% | $109,911,248▼3.2% | $21,532,242▲12.3% | $120,203,040▲13.9% | 990 |
| 2020 | $98,575,626▲10.4% | $113,567,817▲14.6% | $19,176,923▼20.3% | $105,543,148▲0.5% | 990 |
| 2019 | $89,250,714▲6.7% | $99,132,317▼51.5% | $24,067,794▲234% | $105,034,313▲27.4% | 990 |
| 2018 | $83,659,520▲10.7% | $204,319,889▲225% | $7,215,168▼62.1% | $82,450,648▼0.6% | 990 |
| 2017 | $75,546,965▲9.4% | $62,816,718▼35.0% | $19,013,475▼26.6% | $82,952,135▼3.6% | 990 |
| 2016 | $69,082,953▲14.9% | $96,705,188▲86.3% | $25,905,707▲12.8% | $86,064,283▲15.4% | 990 |
| 2015 | $60,140,249▲31.0% | $51,911,888▲6.9% | $22,960,121▲46.7% | $74,551,718▲22.1% | 990 |
| 2014 | $45,912,149▲25.6% | $48,544,451▲43.9% | $15,647,692▼18.8% | $61,043,793▲12.0% | 990 |
| 2013 | $36,545,545 | $33,744,350▲95.1% | $19,271,467▲471% | $54,496,263▲131% | 990 |
| 2011 | — | $17,298,426▼63.8% | -$5,189,581▼9.5% | $23,597,718▼27.1% | 990 |
| 2010 | — | $47,848,627▲169% | -$4,739,074▼118% | $32,349,283▼32.2% | 990 |
| 2009 | — | $17,793,386 | $26,840,733 | $47,711,369 | 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: Dianne Hardy — $568,283 (0.24% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Dianne Hardy | Chief Executive Officer | 18.75 | $568,283 |
| Alvin Ashworth | Chief Operating Officer | 18.75 | $422,335 |
| Robert Eades | Chief Claims Officer | 18.75 | $319,337 |
| Tekeela Barnes | Chief Information Officer | 18.75 | $282,847 |
| Sonya Champion | Chief Human Resources Officer | 18.75 | $278,925 |
| Mick Quinlan | Director of It | 18.75 | $259,849 |
| Vicki Fisher | Director of Claims | 18.75 | $247,759 |
| Sarah Moore | Chief Financial Officer | 18.75 | $230,158 |
| Vita Wooten | Director of Underwriting | 18.75 | $211,255 |
| Charles Wigley | Claims Manager | 18.75 | $191,248 |
| Nicole Pepicello | Claims Manager | 18.75 | $188,177 |
| Alex Garate | Board Member | 1 | — |
| Allen Houck | Chair | 1 | — |
| Brad Lovin | Board Member | 1 | — |
| Chris Frisbie | Board Member (to Jan '24) | 1 | — |
| Eric Hammons | Vice Chair | 1 | — |
| Eric Vaith | Board Member (to Nov '24) | 1 | — |
| Hope Kornegay | Board Member | 1 | — |
| Jarette Sampson | Board Member | 1 | — |
| Jerry Achatz | Board Member (from Nov '24) | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Creative Adjusting Inc | Claims Services | $2,970,625 |
| Ogon Consulting LLC | Software Development | $1,051,863 |
| Young Moore & Henderson PA | Legal Services | $787,311 |
| Adams & Edge Claims Service LLC | Claims Services | $629,129 |
| Mcgriff Insurance Services Inc | Producer Commissions | $613,779 |
Frequently asked questions
- Is North Carolina Joint Underwriting Association a legitimate nonprofit?
- Yes. North Carolina Joint Underwriting Association is a 501(c)(6) organization registered with the U.S. Internal Revenue Service under EIN 56-1222676, based in Raleigh, North Carolina.
- What is North Carolina Joint Underwriting Association's EIN?
- North Carolina Joint Underwriting Association's Employer Identification Number (EIN) is 56-1222676.
- How much revenue does North Carolina Joint Underwriting Association report?
- North Carolina Joint Underwriting Association reported $232,772,463 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much does North Carolina Joint Underwriting Association's highest-paid employee make?
- The highest reported compensation on North Carolina Joint Underwriting Association's latest Form 990 is $568,283, paid to Dianne Hardy (Chief Executive Officer).
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Data for North Carolina Joint Underwriting Association (EIN 56-1222676) 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.