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Nonprofit · EIN 23-1965995

PENNSYLVANIA PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION

Also known as SUBURBAN STATION BLDG STE 1620

Tax-exempt · PHILADELPHIA, PA 19103

Financials

$9.1M$12.1M2023$19.8M$6.2M2024
Revenue Expenses · by fiscal year end
Financials of PENNSYLVANIA PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$19,774,867$6,244,048$13,530,819$186,610,163$777,769,799-$591,159,636
December 31, 2023990$9,116,019$12,057,201-$2,941,182$161,962,262$773,132,183-$611,169,921
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$13,463,099
Investment income
$6,311,768
Net gain from sales of assets
$1,320,295
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$315,207
Other salaries and wages
$1,354,348
Salaries, compensation and benefits (total)
$2,097,105
Professional fundraising fees
$0
Legal fees
$44,884
Accounting fees
$32,575
Occupancy
$229,206
Depreciation
$100,026
Program services (functional)
$6,244,048

Balance sheet and other

Total assets, start of year
$161,962,262
Total assets, end of year
$186,610,163
Total liabilities, end of year
$777,769,799
Net assets, end of year
-$591,159,636
Land, buildings and equipment
$439,170
Publicly traded securities
$110,235,502
Gross receipts
$230,706,966
Employees
14
Volunteers
7
Year formed
1970
State of legal domicile
PA

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 December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
RAYMOND M BAUSOEXECUTIVE DIRECTOR
Officer
40$315,207
DOUGLAS R FAHRINGERGENERAL COUNSEL
Highest-paid employee
40$237,973
LISA A PRATTCLAIM MANAGER
Highest-paid employee
40$225,219
CHRISTOHER SHERMERDIRECTOR OF ACCOUNTING
Highest-paid employee
40$224,444
FRANCIS E KINGCLAIM SUPERVISOR
Highest-paid employee
40$170,455
JANNETTE FRAUSTODIRECTOR
Trustee or director
3$0
CAROL CINGRANELLICHAIRMAN
Trustee or director, Officer
3$0
MARK SCHLOEMERDIRECTOR
Trustee or director, Officer
3$0
BRAD CORSOTREASURER
Trustee or director, Officer
3$0
NICOLE BOWDENDIRECTOR
Trustee or director
3$0
JOHN CERRONEDIRECTOR
Trustee or director
3$0
MEGHAN MCCORMICK-HOERNERSECRETARY
Trustee or director, Officer
3$0
990 for the year ended December 31, 2023: 12 people
NameTitleHours / weekCompensation
RAYMOND M BAUSOEXECUTIVE DIRECTOR
Officer
40$311,035
DOUGLAS R FAHRINGERGENERAL COUNSEL
Highest-paid employee
40$230,460
LISA A PRATTCLAIM MANAGER
Highest-paid employee
40$218,192
CHRISTOHER SHERMERDIRECTOR OF ACCOUNTING
Highest-paid employee
40$217,704
FRANCIS E KINGCLAIM SUPERVISOR
Highest-paid employee
40$166,210
JENNY ANZALONE ACKLEYCHAIRMAN
Trustee or director, Officer
3$0
CAROL CINGRANELLIVICE CHAIRMAN
Trustee or director, Officer
3$0
SEAN WEIRSECRETARY
Trustee or director, Officer
3$0
BRAD CORSOTREASURER
Trustee or director, Officer
3$0
ADRIAN GUTIERREZDIRECTOR
Trustee or director
3$0
JOHN CERRONEDIRECTOR
Trustee or director
3$0
JEREMY EISMANNDIRECTOR
Trustee or director
3$0

Address and contacts

Address (IRS master file)
1617 JOHN F KENNEDY BLVD STE 1850, PHILADELPHIA, PA 19103-1832
In care of
% ONE PENN CTR AT 1850 SUBURBAN STA
Principal officer (990 for 2024)
CHRISTOPHER SHERMER, 1617 JOHN F KENNEDY BLVD 1850, PHILADELPHIA, PA 19103
Signed the 990
CHRISTOPHER SHERMER, DIRECTOR OF ACCOUNTING
Phone
(215) 568-1007
Website
PPCIGA.ORG
Return prepared by
KREISCHER MILLER

Mission

TO PROVIDE A MEANS FOR THE PAYMENT OF COVERED CLAIMS UNDER CERTAIN PROPERTY AND CASUALTY INSURANCE POLICIES, TO AVOID EXCESSIVE DELAY IN THE PAYMENT OF SUCH CLAIMS, AND TO AVOID FINANCIAL LOSS TO CLAIMANTS OR POLICYHOLDERS AS A RESULT OF THE INSOLVENCY OF AN INSURER.

990 for the year ended December 31, 2024

Program accomplishments

  • DURING THE YEAR, THE PENNSYLVANIA PROPERTY & CASUALTY INSURANCE GUARANTY ASSOCIATION PROVIDED PAYMENT OF COVERED CLAIMS UNDER CERTAIN PROPERTY AND CASUALTY INSURANCE POLICIES TO AVOID EXCESSIVE DELAY IN PAYMENT OF SUCH CLAIMS AND TO AVOID FINANCIAL LOSS TO CLAIMANTS OR POLICY HOLDERS AS A RESULT OF THE INSOLVENCY OF AN INSURER IN ACCORDANCE WITH TITLE 40 - INSURANCE P.S. 991.1801 ET SEQ OF THE PENNSYLVANIA STATUTE.
    Expenses $6,244,048 · revenue $14,783,394

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 December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
23-1965995
Tax-exempt status
501(c)(6): Business league or chamber of commerce
Donations deductible
No
Exempt since
1974
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$186,610,163
Income (IRS master file)
$230,706,966

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$19,774,867$6,244,048$186,610,163IRS
990December 2023$9,116,019$12,057,201$161,962,262XML
990December 2022$17,374,884$8,648,962$161,229,955IRS
990December 2021–––IRS
990December 2020–––IRS
990December 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 23-1965995).

Questions about PENNSYLVANIA PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION

What is the EIN of PENNSYLVANIA PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION?
The employer identification number (EIN) of PENNSYLVANIA PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION is 23-1965995.
Is PENNSYLVANIA PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1974.
Are donations to PENNSYLVANIA PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does PENNSYLVANIA PROPERTY AND CASUALTY 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 PENNSYLVANIA PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did PENNSYLVANIA PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of PENNSYLVANIA PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION?
The 990 for the year ended December 31, 2024 names CHRISTOPHER SHERMER.
Who are the officers and directors of PENNSYLVANIA PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION?
The 990 for the year ended December 31, 2024 lists 12 people; 5 received compensation from the organization, the highest $315,207 (RAYMOND M BAUSO, EXECUTIVE DIRECTOR).
How much revenue does PENNSYLVANIA PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $19,774,867, expenses of $6,244,048 and total assets of $186,610,163 at year end.

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