Overview
What is Virginia Property And Casualty Insurance Luaranty Association?
Virginia Property and Casualty Insurance Guaranty Association is a nonprofit organization situated in Boston, Massachusetts. Its primary mission is to safeguard the interests of policyholders and claimants affected by insolvent insurance companies, in compliance with Virginia's state statute, specifically Chapter 16 of Title 38.2 of the Code of Virginia. Throughout the year, the association ensures that policyholders and claimants receive necessary protection and financial assistance when their insurers face insolvency.
Official website here: www.gfms.org
Is Virginia Property And Casualty Insurance Luaranty Association legitimate?
Virginia Property And Casualty Insurance Luaranty Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. Virginia Property And Casualty Insurance Luaranty Association submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.gfms.org
What is the mission statement of Virginia Property And Casualty Insurance Luaranty Association?
The Virginia Property and Casualty Insurance Guaranty Association's mission is to safeguard the interests of policyholders and claimants affected by insolvent insurance companies. This is carried out in compliance with the provisions outlined in Chapter 16 of Title 38.2 of the Code of Virginia. The Association's primary role is to ensure that these individuals receive the protection they are entitled to under the state statute, during times when their original insurers are unable to fulfill their obligations. This is a crucial service that helps maintain financial security for numerous policyholders and claimants in Virginia.
Official website here: www.gfms.org
Who is the CEO of Virginia Property And Casualty Insurance Luaranty Association?
Barbara Petersen Law is the Principal Officer of Virginia Property And Casualty Insurance Luaranty Association.
Official website here: www.gfms.org
What is the revenue of Virginia Property And Casualty Insurance Luaranty Association?
Virginia Property And Casualty Insurance Luaranty Association's revenue in 2022 was $3,063,188.
Official website here: www.gfms.org
Who are the executives of Virginia Property And Casualty Insurance Luaranty Association and what are their salaries?
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.gfms.org
Where can I find the form 990 for Virginia Property And Casualty Insurance Luaranty Association?
Virginia Property And Casualty Insurance Luaranty Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.gfms.org
Learn more at the official website: www.gfms.org
Mission Statement of Virginia Property And Casualty Insurance Luaranty Association
Virginia Property and Casualty Insurance Guaranty Association is committed to safeguarding the interests of policyholders and claimants whose insurers have become insolvent. In line with the guidelines outlined in Chapter 16 of Title 38.2 of the Virginia state statute, this organization provides necessary protection to these individuals. By adhering to this mission, the Association ensures that policyholders and claimants continue to receive coverage and benefits, even when their original insurance providers are no longer in operation.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The Virginia Property and Casualty Insurance Guaranty Association plays a crucial role in safeguarding policyholders and claimants from the financial fallout of insurance company insolvencies. By ensuring that individuals and businesses maintain access to their insurance benefits, the Association upholds the integrity of the insurance market in Virginia, providing a safety net for those impacted by the failure of an insurer. Its operations, grounded in state statute, demonstrate a commitment to consumer protection and contribute to the overall stability of the insurance landscape. This support fosters confidence among consumers and encourages responsible insurance practices, ultimately benefiting the community as a whole.
This information is meant to be a general summary of Virginia Property And Casualty Insurance Luaranty Association. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $93,351
- Program Service Revenue: $2,969,837
- Gross Receipts: $94,861,961
Assets and Liabilities:
- Total Assets: $159,558,895
- Total Liabilities: $0
- Net Assets: $159,558,895
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Member Assessment
Revenue
$2,351,115
Recovery
Revenue
$541,933
Member Assessment Administrative
Revenue
$76,789
Organization Details
Founding Year
1972
Phone
(617) 227-7020Principal Officer
Barbara Petersen Law
Main Address
One Bowdoin Square Second Floor, Boston, MA, 021142916
Website
www.gfms.orgNTEE Category
Code: S40 - Community improvement
If you are a representative of Virginia Property And Casualty Insurance Luaranty Association and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.