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Nonprofit · EIN 05-0420932

RHODE ISLAND LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION

Tax-exempt · PROVIDENCE, RI 02903

Financials

$397K$191K2022$93K$292K2023$73.7M$67.6M2024
Revenue Expenses · by fiscal year end
Financials of RHODE ISLAND LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
September 30, 2025990$73,688,018$67,568,047$6,119,971$8,709,237$0$8,709,237
September 30, 2024990$93,393$292,113-$198,720$2,589,266$0$2,589,266
September 30, 2023990$397,111$191,394$205,717$2,774,768$0$2,774,768
Financial details: 990 for the year ended September 30, 2025

Revenue

Contributions, gifts and grants
$0
Program service revenue
$72,959,295
Investment income
$728,723
Net gain from sales of assets
$391,632
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$79,583
Other salaries and wages
$8,500
Salaries, compensation and benefits (total)
$95,332
Professional fundraising fees
$0
Legal fees
$29,000
Accounting fees
$36,238
Occupancy
$20,029
Travel
$12,673

Balance sheet and other

Total assets, start of year
$2,589,266
Total assets, end of year
$8,709,237
Total liabilities, end of year
$0
Net assets, end of year
$8,709,237
Publicly traded securities
$1,889,614
Net assets without donor restrictions
$8,709,237
Gross receipts
$195,378,933
Employees
2
Year formed
1986
State of legal domicile
RI

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended September 30, 2025, highest compensation first.

NameTitleHours / weekCompensation
Margarett Sperry EsqExecutive Direc
Officer
20$79,583
Brooks R MagrattenExecutive Direc
Officer
20$20,000
990 for the year ended September 30, 2024: 1 people
NameTitleHours / weekCompensation
Margaret Sperry EsqExecutive Direc
Officer
20$95,500
990 for the year ended September 30, 2023: 1 people
NameTitleHours / weekCompensation
Margaret Sperry EsqExecutive Direc
Officer
20$112,000

Address and contacts

Address (IRS master file)
ONE CITIZENS PLZ 10TH FLR, PROVIDENCE, RI 02903-1344
In care of
% PIERCE ATWOOD
Signed the 990
Brooks R Magratten, Executive Direc
Phone
(401) 490-3422
Return prepared by
Ward Fisher & Company LLP

Mission

Maintain public confidence in the promises of insurers by paying claims of insolvent insurance companies licensed to write life, annuity and health insurance in Rhode Island

990 for the year ended September 30, 2025

Program accomplishments

  • Claims paid to beneficiaries of insolvent insurance companies and reimbursements received of previously paid claims totaling a net of $66,964,940.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025September 30, 2026February 16, 2027Not due yet
2024September 30, 2025February 17, 2026990 on file
2023September 30, 2024February 18, 2025990 on file

IRS record

EIN
05-0420932
Tax-exempt status
501(c)(6): Business league or chamber of commerce
Donations deductible
No
Exempt since
1994
Accounting year ends
September
Files
Form 990 or 990-EZ
Assets (IRS master file)
$8,709,237
Income (IRS master file)
$195,378,933

Filing history

FormYear endedRevenueExpensesAssetsReturn
990September 2025$73,688,018$67,568,047$8,709,237XML
990September 2024$93,393$292,113$2,589,266XML
990September 2023$397,111$191,394$2,774,768XML
990September 2022$359,286$289,050$2,569,051IRS
990September 2021–––IRS
990September 2020–––IRS
990September 2019–––IRS
990September 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 05-0420932).

Questions about RHODE ISLAND LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION

What is the EIN of RHODE ISLAND LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION?
The employer identification number (EIN) of RHODE ISLAND LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION is 05-0420932.
Is RHODE ISLAND LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1994.
Are donations to RHODE ISLAND LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does RHODE ISLAND LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of RHODE ISLAND LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION due?
The return for tax year 2025 (the year ending September 30, 2026) is due February 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did RHODE ISLAND LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended September 2025.
Who are the officers and directors of RHODE ISLAND LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION?
The 990 for the year ended September 30, 2025 lists 2 people; 2 received compensation from the organization, the highest $79,583 (Margarett Sperry Esq, Executive Direc).
How much revenue does RHODE ISLAND LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION have?
On its 990 for the year ended September 30, 2025 it reported revenue of $73,688,018, expenses of $67,568,047 and total assets of $8,709,237 at year end.

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