Overview
What is District Of Columbia Insurance Guaranty Association?
The District of Columbia Insurance Guaranty Association is a nonprofit organization, established in Boston, Massachusetts. Its primary mission is to safeguard the interests of policyholders and claimants affected by the insolvency of insurance companies. In accordance with the District of Columbia's state statute, Title 31, Subtitle IX, Chapter 55, Section 31-5501, the Association provides necessary protection to these individuals during such financial difficulties.
Official website here: www.gfms.org
Is District Of Columbia Insurance Guaranty Association legitimate?
District Of Columbia Insurance Guaranty Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. District Of Columbia Insurance Guaranty 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.
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Official website here: www.gfms.org
What is the mission statement of District Of Columbia Insurance Guaranty Association?
The District of Columbia Insurance Guaranty Association's mission, as outlined in its statute, is centered around providing protection to policyholders and claimants of insolvent insurers. In accordance with the District of Columbia state law, specifically Title 31, Subtitle IX, Chapter 55, Section 31-5501, the association carries out this mission during the year, ensuring financial security and support for those impacted by the failure of insurance companies.
Official website here: www.gfms.org
Who is the CEO of District Of Columbia Insurance Guaranty Association?
Barbara Petersen Law is the Principal Officer of District Of Columbia Insurance Guaranty Association.
Official website here: www.gfms.org
What is the revenue of District Of Columbia Insurance Guaranty Association?
District Of Columbia Insurance Guaranty Association's revenue in 2022 was $772,773.
Official website here: www.gfms.org
Who are the executives of District Of Columbia Insurance Guaranty Association and what are their salaries?
Here are 7 key members and their salaries:
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Official website here: www.gfms.org
Where can I find the form 990 for District Of Columbia Insurance Guaranty Association?
District Of Columbia Insurance Guaranty 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 District Of Columbia Insurance Guaranty Association
The District of Columbia Insurance Guaranty Association, in line with its mission, works diligently to safeguard the interests of policyholders and claimants of insolvent insurers. Operating under the District of Columbia state statute, Title 31, Subtitle IX, Chapter 55, Section 31-5501, this organization is committed to providing the necessary protection required by law. Its primary objective is to ensure that policyholders and claimants are not left financially vulnerable when their insurance companies become insolvent, thereby upholding the integrity of the insurance industry.
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Impact
October, 2024
The District of Columbia Insurance Guaranty Association plays a crucial role in safeguarding the interests of policyholders and claimants when insurance companies become insolvent. By providing protection in accordance with District of Columbia state statute, the Association ensures that individuals who have coverage through these insurers can still access their benefits and claims. This helps to maintain confidence in the insurance system and mitigates the financial impact on consumers affected by the insolvency of an insurer. Through its activities, the Association serves as a safety net for those relying on insurance for their financial security, ultimately promoting stability within the insurance market in the District of Columbia.
This information is meant to be a general summary of District Of Columbia Insurance Guaranty 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: -$16,789
- Program Service Revenue: $789,562
- Gross Receipts: $61,723,037
Assets and Liabilities:
- Total Assets: $45,582,829
- Total Liabilities: $0
- Net Assets: $45,582,829
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Recovery
Revenue
$789,118
Member Assessment Administrative
Revenue
$444
Organization Details
Founding Year
1973
Phone
(617) 227-7020Principal Officer
Barbara Petersen Law
Main Address
One Bowdoin Square Second Floor, Boston, MA, 021142916
Website
www.gfms.orgNTEE Category
Code: Y20 - Mutual benefit
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