Overview
What is National Conference Of Insurance Guaranty Funds Inc?
National Conference of Insurance Guaranty Funds Inc, located in Indianapolis, Indiana, is a business association recognized under Internal Revenue Code Section 501(C)(6). Its primary mission is to support the collective objectives of its member property and casualty guaranty funds, offering national assistance in various capacities. The organization plays a significant role in coordinating interactions between liquidators and property and casualty guaranty funds during multi-state insolvencies. Additionally, NCIGF monitors legislative and litigation matters affecting guaranty funds, conducts educational and training programs, and provides information on the property and casualty guaranty fund system. The organization serves as a forum for discussing guaranty fund-related issues, with a mission to maximize value for its member state property and casualty guaranty funds and the overall guaranty fund system. With a workforce of 21 individuals, NCIGF supports its members in operational support, communication, and public policy development.
Official website here: www.ncigf.org
Is National Conference Of Insurance Guaranty Funds Inc legitimate?
National Conference Of Insurance Guaranty Funds Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. National Conference Of Insurance Guaranty Funds Inc 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: $1,016,057
Professional Fundraising Fees: $0
Other Salaries and Wages: $730,037
For more financial information, click here
Official website here: www.ncigf.org
What is the mission statement of National Conference Of Insurance Guaranty Funds Inc?
The National Conference of Insurance Guaranty Funds Inc, functioning as a business association under Internal Revenue Code Section 501(C)(6), serves to maximize value for its member state property and casualty guarantee funds and the broader state-based guarantee fund system. This is achieved through operational support, communication, and policy development. The organization provides assistance in various areas, including coordination between liquidators and guarantee funds during multi-state insolvencies, monitoring legislation and litigation affecting guarantee funds, conducting educational and training programs, disseminating information about the property and casualty guarantee fund system, and serving as a platform for discussing guarantee fund-related issues.
Official website here: www.ncigf.org
Who is the CEO of National Conference Of Insurance Guaranty Funds Inc?
Roger H Schmelzer is the CEO of National Conference Of Insurance Guaranty Funds Inc The CEO's salary of National Conference Of Insurance Guaranty Funds Inc is $502,284 and their total compensation is $533,113.
Official website here: www.ncigf.org
What is the revenue of National Conference Of Insurance Guaranty Funds Inc?
National Conference Of Insurance Guaranty Funds Inc's revenue in 2023 was $4,761,918.
Official website here: www.ncigf.org
Who are the executives of National Conference Of Insurance Guaranty Funds Inc and what are their salaries?
The average compensation at National Conference Of Insurance Guaranty Funds Inc during 2023 was $97,005. There are 18 employees and 21 volunteers at National Conference Of Insurance Guaranty Funds Inc.
Here are 27 key members and their salaries (National Conference Of Insurance Guaranty Funds Inc's CEO's salary is $502,284 and their total compensation is $533,113):
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- Compensation: $147,296
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- Other: $22,895
Official website here: www.ncigf.org
Where can I find the form 990 for National Conference Of Insurance Guaranty Funds Inc?
National Conference Of Insurance Guaranty Funds Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.ncigf.org
Learn more at the official website: www.ncigf.org
Mission Statement of National Conference Of Insurance Guaranty Funds Inc
The National Conference of Insurance Guaranty Funds Inc, a business association operating under Internal Revenue Code Section 501(C)(6), is committed to maximizing value for its member state property and casualty guarantee funds and the broader state-based guarantee fund system. Its mission is threefold: to offer operational support, facilitate communication, and engage in public policy development. In the realm of operational support, the National Conference of Insurance Guaranty Funds Inc aids its members by coordinating efforts between liquidators and guarantee funds during multi-state insolvencies. It also monitors legislative and litigation matters affecting guarantee funds, ensuring that they remain informed and equipped to navigate these challenges.
Furthermore, the National Conference of Insurance Guaranty Funds Inc is dedicated to providing education and training programs for guarantee funds. These programs equip participants with the necessary skills and knowledge to effectively carry out their duties. The organization also serves as a platform for discussing guarantee fund-related issues, fostering a collaborative environment where members can share insights and best practices. By fulfilling these roles, the National Conference of Insurance Guaranty Funds Inc plays a crucial part in strengthening the property and casualty guarantee fund system, ultimately safeguarding policyholders and insurers in the event of insolvency.
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Impact
October, 2024
The National Conference of Insurance Guaranty Funds Inc (NCIGF) significantly impacts the landscape of property and casualty insurance by enhancing the effectiveness and operational capacity of state guaranty funds. By providing critical assistance in coordinating multi-state insolvencies, NCIGF ensures that policyholders receive the necessary support and resources during insurance company liquidations.
Their efforts in monitoring litigation and legislation help safeguard the interests of state-based guaranty funds, allowing them to navigate complex legal and regulatory environments effectively. Through educational and training programs, NCIGF empowers its members with essential knowledge and best practices, thereby improving their operational efficiency and responsiveness.
Moreover, by fostering a collaborative environment for discussion among guaranty fund stakeholders, NCIGF facilitates the exchange of ideas and solutions related to industry challenges. Overall, the NCIGF's commitment to enhancing operational support and public policy development brings significant value to the member state guaranty funds, ultimately benefiting consumers and the broader community.
This information is meant to be a general summary of National Conference Of Insurance Guaranty Funds Inc. 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 2023.
- Investment Income: $156,711
- Program Service Revenue: $4,605,207
- Gross Receipts: $4,761,918
Assets and Liabilities:
- Total Assets: $5,497,220
- Total Liabilities: $1,235,224
- Net Assets: $4,261,996
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP DUES
Revenue
$4,432,347
WORKSHOP REGISTRATION
Revenue
$172,860
Organization Details
Founding Year
1989
Principal Officer
Roger H Schmelzer
Website
www.ncigf.orgNTEE Category
Code: S40 - Community improvement
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