Virginia Life Accident & Sickness Insurance Guaranty Association
501(c)(6)
100% goes to programs Strong reserves Growing revenue
Virginia Life Accident & Sickness Insurance Guaranty Association is a 501(c)(6) organization based in Hampden, Massachusetts, registered in 1997, with $19,075,748 in FY2025 revenue. CharityIndex grades it A+, and it directs about 100% of spending to programs.
Po Box 606, Hampden, MA, 01036 EIN 54-1642659 Since 1997
Revenue (FY2025)
$19.1M
▼ 8.1% vs prior year
Expenses (FY2025)
$4.8M
Net assets
$23.3M
Employees
0
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A+
A+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 Virginia Life Accident & Sickness Insurance Guaranty Association: 100% to programs earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating59 mo reserves · +75% 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 Virginia Life Accident & Sickness Insurance Guaranty Association: 59 mo reserves · +75% 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 Virginia Life Accident & Sickness Insurance Guaranty Association: 6 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 Virginia Life Accident & Sickness Insurance Guaranty Association: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Primary exempt purpose: the association is a virginia statutory association formed pursuant to chapter 17 of title 38.2 of the code of virginia to pay obligations of insolvent insurance companies under the supervision of the virginia state corporation commission. "member insurer" means an insurer or health maintenance organization licensed to transact in the commonwealth any class of insurance or health maintenance organization business to which this chapter 17 applies under section 38.2-1700, but does not include cooperative nonprofit life benefit companies, mutual assessment life, accident and sickness insurance companies, burial societies, fraternal benefit societies, dental and optometric services plans, and health services plans not subject to this chapter 17 pursuant to section 38.2-4213. chapter 17 also applies to dental benefit contracts entered into with a dental plan organization as provided in chapter 61. with respect to contracts issued by insurers licensed to transact busi
Contact & location
- Address
- Po Box 606, Hampden, MA, 01036
- City
- Hampden
- State
- Massachusetts
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $5.0M (FY2013) to $19.1M (FY2025) across 13 reported years.
Financial snapshot
Financial health & position (FY2025)
Liabilities $0Net assets $23.3M
Operating margin
75.1%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$23.3M
Total liabilities
$0
Net assets
$23.3M
Salaries & benefits
$0
0% of expenses
Board members
13
13 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2025 | $19,075,748▼8.1% | $4,751,409▼79.3% | $23,336,183▲159% | $23,336,183▲159% | 990 |
| 2024 | $20,749,086▲101% | $22,907,038▲1191% | $9,011,844▼19.3% | $9,011,844▼19.3% | 990 |
| 2023 | $10,302,133▲565% | $1,774,120▼81.5% | $11,169,796▲323% | $11,169,796▲323% | 990 |
| 2022 | $1,548,889▼84.4% | $9,595,130▲111% | $2,641,783▼75.3% | $2,641,783▼75.3% | 990 |
| 2021 | $9,945,534▲636% | $4,556,689▼68.7% | $10,688,024▲102% | $10,714,403▲102% | 990 |
| 2020 | $1,352,194▼90.8% | $14,558,330▼50.1% | $5,299,179▼71.4% | $5,299,179▼71.4% | 990 |
| 2019 | $14,658,063▼66.0% | $29,154,782▼23.2% | $18,505,315▼43.9% | $18,505,315▼43.9% | 990 |
| 2018 | $43,084,125▼61.8% | $37,947,105▼56.3% | $33,002,034▲18.4% | $33,002,034▲18.4% | 990 |
| 2017 | $112,782,764▲20248% | $86,886,606▲9030% | $27,865,014▲1315% | $27,865,014▲1315% | 990 |
| 2016 | $554,265▼66.3% | $951,668▼18.4% | $1,968,856▼16.8% | $1,968,856▼16.8% | 990 |
| 2015 | $1,644,495▼56.1% | $1,166,884▼56.8% | $2,366,259▲25.3% | $2,366,259▲25.3% | 990 |
| 2014 | $3,744,156▼25.4% | $2,701,415▼57.9% | $1,888,648▲123% | $1,888,648▲123% | 990 |
| 2013 | $5,021,297 | $6,422,754▲198% | $845,907▼62.4% | $845,907▼62.8% | 990 |
| 2012 | — | $2,153,623▼70.4% | $2,247,364▲164% | $2,271,177▲167% | 990 |
| 2010 | — | $7,272,421 | $850,087 | $850,087 | 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 (FY2025)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Anthem Health Plans of Va | Director | 1 | — |
| Brighthouse Life Insurance Co | Director | 1 | — |
| Coventry Health Care of Va Inc | Director | 1 | — |
| Dennis S Herchel | Exec. Direct | 30 | — |
| Genworth Life Annuity Ins Co | Director | 1 | — |
| Kaiser Foundation Health Plan | Director | 1 | — |
| Lincoln National Life Insurance Co | Director | 1 | — |
| Mary Y Sisson | Chief Accoun | 30 | — |
| Metropolitan Life Insurance Co | Director | 1 | — |
| New York Life Insurance Company | Chair | 2 | — |
| Settlers Life Insurance Company | Director | 1 | — |
| Shenandoah Life Insurance Company | Director | 1 | — |
| Teachers Insurance and Annuity | Secretary | 2 | — |
| Unitedhealthcare Insurance Co | Treasurer | 2 | — |
| Voya Retirement Insurance | Director | 1 | — |
Frequently asked questions
- Is Virginia Life Accident & Sickness Insurance Guaranty Association a legitimate nonprofit?
- Yes. Virginia Life Accident & Sickness Insurance Guaranty Association is a 501(c)(6) organization registered with the U.S. Internal Revenue Service under EIN 54-1642659, based in Hampden, Massachusetts.
- What is Virginia Life Accident & Sickness Insurance Guaranty Association's EIN?
- Virginia Life Accident & Sickness Insurance Guaranty Association's Employer Identification Number (EIN) is 54-1642659.
- How much revenue does Virginia Life Accident & Sickness Insurance Guaranty Association report?
- Virginia Life Accident & Sickness Insurance Guaranty Association reported $19,075,748 in total revenue on its fiscal year 2025 IRS Form 990 filing.
- How much of Virginia Life Accident & Sickness Insurance Guaranty Association's spending goes to programs?
- Virginia Life Accident & Sickness Insurance Guaranty Association spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Virginia Life Accident & Sickness Insurance Guaranty Association have?
- CharityIndex grades Virginia Life Accident & Sickness Insurance Guaranty Association A+, based on program efficiency and fundraising cost.
- How much does Virginia Life Accident & Sickness Insurance Guaranty Association's highest-paid employee make?
- The highest reported compensation on Virginia Life Accident & Sickness Insurance Guaranty Association's latest Form 990 is $0, paid to Anthem Health Plans of Va (Director).
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Data for Virginia Life Accident & Sickness Insurance Guaranty Association (EIN 54-1642659) 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.