Overview
What is Oregon Insurance Guaranty Association?
The Oregon Insurance Guaranty Association is a local nonprofit organization based in Beaverton, Oregon. Its primary mission is to provide financial assistance to policyholders when their insurance company becomes insolvent. The Association ensures that claims, including claims expenses and unearned premiums, are paid to policyholders during such situations. By doing so, the Oregon Insurance Guaranty Association plays a crucial role in maintaining financial security and peace of mind for policyholders when their insurance companies face financial instability.
Official website here: www.oregon.ncigf.org
What are the reviews and ratings of this charity?
The Oregon Insurance Guaranty Association is not currently rated by Charity Navigator due to its status as a non-501(c)(3) organization, which excludes it from evaluations typically applied by Charity Navigator. This absence of a rating should not be construed positively or negatively, as certain beacons such as Accountability, Finance, Impact, and Measurement are not applicable in this context.
The organization lacks available data on revenue, expenses, and key person salaries, which are generally vital metrics for evaluating nonprofit efficacy and transparency. Historically, ratings derived from what is now akin to the Accountability & Finance measures would not have included modern criteria such as Leadership & Adaptability.
Given the absence of user reviews on GreatNonprofits, there is no additional community feedback to consider, leaving only the structural limitations noted by Charity Navigator's criteria for evaluation.
This AI summary has been generated from information found on Charity Navigator.
Is Oregon Insurance Guaranty Association legitimate?
Oregon Insurance Guaranty Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. Oregon 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $98,411
Professional Fundraising Fees: $0
Other Salaries and Wages: $140,245
For more financial information, click here
Official website here: www.oregon.ncigf.org
What is the mission statement of Oregon Insurance Guaranty Association?
The Oregon Insurance Guaranty Association is dedicated to providing financial security for policyholders when their insurance companies face insolvency. By assuming the obligations of failed insurance companies, the organization ensures that claims, both expenses and unearned premiums, are paid out to policyholders. This crucial role safeguards the financial well-being of individuals who may be left vulnerable in the wake of an insurer's collapse. In essence, the Oregon Insurance Guaranty Association acts as a safety net, ensuring peace of mind and financial stability for policyholders during uncertain times.
Official website here: www.oregon.ncigf.org
Who is the CEO of Oregon Insurance Guaranty Association?
Catherine S Braughton-Ba is the Principal Officer of Oregon Insurance Guaranty Association.
Official website here: www.oregon.ncigf.org
What is the revenue of Oregon Insurance Guaranty Association?
Oregon Insurance Guaranty Association's revenue in 2022 was $20,811,033.
Official website here: www.oregon.ncigf.org
Who are the executives of Oregon Insurance Guaranty Association and what are their salaries?
The average compensation at Oregon Insurance Guaranty Association during 2022 was $79,552. There are 3 employees and 9 volunteers at Oregon Insurance Guaranty Association.
Here are 10 key members and their salaries:
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- Compensation: $78,515
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- Other: $19,896
Official website here: www.oregon.ncigf.org
Where can I find the form 990 for Oregon Insurance Guaranty Association?
Oregon Insurance Guaranty Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.oregon.ncigf.org
Learn more at the official website: www.oregon.ncigf.org
Mission Statement of Oregon Insurance Guaranty Association
The Oregon Insurance Guaranty Association, a critical nonprofit organization, assumes the responsibility of settling claims and paying out unearned premiums to policyholders when their insolvent insurance companies are unable to do so. This association ensures financial security and peace of mind for individuals and businesses who have been left in a precarious position due to the insolvency of their insurance providers. By stepping in to cover the unpaid claims and expenses, the Oregon Insurance Guaranty Association provides a safety net, shielding policyholders from potential financial hardship. In doing so, the organization plays a pivotal role in maintaining trust within the insurance industry and upholding the integrity of the financial system.
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Impact
October, 2024
The Oregon Insurance Guaranty Association plays a crucial role in protecting policyholders by ensuring they receive compensation for claims when their insurance companies become insolvent. By covering claims expenses and unearned premiums, the association mitigates financial losses for individuals and businesses that would otherwise be left without recourse. This safety net fosters trust in the insurance system, encouraging consumers to purchase policies with confidence, knowing there is a mechanism in place to safeguard their interests in cases of company failure. Operating out of Beaverton, Oregon, the association contributes to the overall stability of the insurance market by providing a structured, reliable means for managing insolvencies.
This information is meant to be a general summary of Oregon 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: $1,163,819
- Program Service Revenue: $19,647,214
- Gross Receipts: $34,203,036
Assets and Liabilities:
- Total Assets: $65,632,220
- Total Liabilities: $56,397,369
- Net Assets: $9,234,851
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REIMBURSEMENTS
Revenue
$19,616,498
SECURITY DEPOSITS
Revenue
$30,716
Organization Details
Founding Year
1971
Phone
(503) 641-7132Principal Officer
Catherine S Braughton-Ba
Main Address
10700 SW BEAVERTON HWY 426, BEAVERTON, OR, 97005
Website
www.oregon.ncigf.orgNTEE Category
Code: Y20 - Mutual benefit
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