Overview
What is Western Guaranty Fund Services?
Western Guaranty Fund Services is a nonprofit organization situated in Denver, Colorado. Their primary role involves offering accounting, administration, and management services to seven property and casualty insurance guaranty associations. In 2022, they issued over 9,400 checks totaling over $10 million to claimants and providers. At the end of the year, they had 447 open claims with an estimated $105 million in future claim obligations. Their mission is to deliver exceptional administrative and management services to these associations, ensuring they fulfill their statutory duties while managing their financial and operational risks. This commitment extends to Western Guaranty Fund Services itself, indicating a dedication to maintaining sound operations within the organization.
Official website here: www.wgfs.org
Is Western Guaranty Fund Services legitimate?
Western Guaranty Fund Services is a legitimate nonprofit organization registered as a 501(c)(6) entity. Western Guaranty Fund Services 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: $416,969
Professional Fundraising Fees: $0
Other Salaries and Wages: $819,986
For more financial information, click here
Official website here: www.wgfs.org
What is the mission statement of Western Guaranty Fund Services?
Western Guaranty Fund Services' mission is to offer exceptional management and administrative services to its member guaranty associations. Their primary goal is to ensure these associations fulfill their statutory and operational duties efficiently. Additionally, they manage the financial and operational risks associated with these member associations and Western Guaranty Fund Services itself. By providing accounting, administration, and management services, they aim to support the member guaranty associations in their operations. In 2022, they issued over 9,400 checks totaling over $10 million to claimants and providers and had 447 open claims with an estimated $105 million in future claim obligations.
Official website here: www.wgfs.org
Who is the CEO of Western Guaranty Fund Services?
Chad Anderson is the President of Western Guaranty Fund Services.
Official website here: www.wgfs.org
What is the revenue of Western Guaranty Fund Services?
Western Guaranty Fund Services's revenue in 2022 was $2,129,649.
Official website here: www.wgfs.org
Who are the executives of Western Guaranty Fund Services and what are their salaries?
The average compensation at Western Guaranty Fund Services during 2022 was $88,354. There are 14 employees at Western Guaranty Fund Services.
Here are 11 key members and their salaries:
- Compensation: $195,785
- Related: $0
- Other: $42,305
- Compensation: $151,641
- Related: $0
- Other: $27,239
- Compensation: $134,811
- Related: $0
- Other: $15,352
- Compensation: $112,975
- Related: $0
- Other: $23,359
- 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.wgfs.org
Where can I find the form 990 for Western Guaranty Fund Services?
Western Guaranty Fund Services's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wgfs.org
Learn more at the official website: www.wgfs.org
Mission Statement of Western Guaranty Fund Services
Western Guaranty Fund Services, abbreviated as WGFS, is committed to delivering exceptional management and administrative services to its member guaranty associations. Their primary objective is to ensure these associations fulfill their statutory and operational duties effectively, while simultaneously managing the financial and operational risks associated with their operations. WGFS plays a crucial role in supporting these associations, providing them with necessary accounting, administration, and management services. During the year 2022, WGFS issued over 9,400 checks, totaling over $10 million, to claimants and providers. At the end of the year, there were 447 open claims, with an estimated future claim obligation of over $105 million. WGFS's mission is to provide unwavering support to its member associations, enabling them to carry out their duties efficiently and mitigate potential risks effectively.
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
Western Guaranty Fund Services plays a crucial role in supporting the stability and functionality of property and casualty insurance guaranty associations. By offering exceptional management and administrative services, WGFS ensures that these associations can effectively meet their statutory and operational responsibilities. This enhances the overall reliability of the insurance framework within the community.
In 2022, WGFS facilitated the issuance of over 9,400 checks totaling more than $10 million to claimants and service providers, directly benefiting individuals and businesses impacted by insurance claims. The management of over 447 open claims, with estimated future obligations exceeding $105 million, underscores the significant financial responsibilities they handle, ensuring that obligations to policyholders are met.
Through effective risk management and operational oversight, WGFS not only supports the member associations but also fosters confidence in the insurance system, thereby contributing to community improvement and economic stability. Their work ultimately reinforces trust in the insurance industry, ensuring that individuals and businesses receive the support they need during challenging times.
This information is meant to be a general summary of Western Guaranty Fund Services. 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.
- Program Service Revenue: $2,129,649
- Gross Receipts: $2,129,649
Assets and Liabilities:
- Total Assets: $1,198,570
- Total Liabilities: $1,198,570
- Net Assets: $0
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 Assessments
Revenue
$2,129,649
Organization Details
Founding Year
1986
Phone
(303) 759-5066Principal Officer
Chad Anderson
Main Address
1873 So Bellaire St Ste 920, Denver, CO, 80222
Website
www.wgfs.orgNTEE Category
Code: S41 - Community improvement
If you are a representative of Western Guaranty Fund Services 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.