Nonprofit · EIN 23-7204066
CONNECTICUT INSURANCE GUARANTY ASSOCIATION
Tax-exempt · BOSTON, MA 02114
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $6,350,285 | $9,655,338 | -$3,305,053 | $97,581,985 | $0 | $97,581,985 |
| December 31, 2023 | 990 | $5,648,164 | $9,857,251 | -$4,209,087 | $100,887,038 | $0 | $100,887,038 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $3,209,760
- Investment income
- $3,140,525
- Net gain from sales of assets
- -$382,964
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $7,728,362
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $39,143
- Accounting fees
- $37,292
- Travel
- $3,551
Balance sheet and other
- Total assets, start of year
- $100,887,038
- Total assets, end of year
- $97,581,985
- Total liabilities, end of year
- $0
- Net assets, end of year
- $97,581,985
- Publicly traded securities
- $90,500,252
- Gross receipts
- $65,625,874
- Employees
- 0
- Volunteers
- 0
- Year formed
- 1971
- State of legal domicile
- MA
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.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Joseph Torti Chair | representing United States Fire Insurance Co. Trustee or director | 1 | $0 |
| Jennifer A Morrison Vice Chair | representing Amica Mutual Indemnity Company Trustee or director | 1 | $0 |
| John Cerrone Board Member | representing Nationwide Mutual Insurance Co. Trustee or director | 1 | $0 |
| Eileen Fongemie Board Member | representing MEMIC Indemnity Company Trustee or director | 1 | $0 |
| Joanne Garvin Board Member | representing Travelers Indemnity Company Trustee or director | 1 | $0 |
| Adam Robitaille Board Member | representing Farmers P&C Insurance Co Trustee or director | 1 | $0 |
| Andrew J Schneider Board Member | representing Hartford Fire Insurance Company Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Joseph Torti Chair | representing United States Fire Insurance Co. Trustee or director | 1 | $0 |
| Jennifer A Morrison Vice Chair | representing Amica Mutual Indemnity Company Trustee or director | 1 | $0 |
| John Cerrone Board Member | representing Nationwide Mutual Insurance Co. Trustee or director | 1 | $0 |
| Eileen Fongemie Board Member | representing MEMIC Indemnity Company Trustee or director | 1 | $0 |
| Joanne Garvin Board Member | representing Travelers Indemnity Company Trustee or director | 1 | $0 |
| Adam Robitaille Board Member | representing Farmers P&C Insurance Co Trustee or director | 1 | $0 |
| Andrew J Schneider Board Member | representing Hartford Fire Insurance Company Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- ONE BOWDOIN SQUARE 2ND FL, BOSTON, MA 02114-2927
- In care of
- % GUARANTY FUND MANAGEMENT SERVICES
- Principal officer (990 for 2024)
- Barbara Petersen Law, One Bowdoin Square, Second Floor, Boston, MA 021142916
- Signed the 990
- Heather Holland, Treasurer
- Phone
- (617) 227-7020
- Website
- www.gfms.org
Mission
During the year the Association paid covered claims on behalf of insolvent insurers in accordance with the Connecticut state statute, Chapter 704a, Section 38a-842 of the Connecticut Insurance Laws.
Program accomplishments
- During the year the Association paid covered claims on behalf of insolvent insurers in accordance with the Connecticut state statute, Chapter 704a, Section 38a-842 of the Connecticut Insurance Laws.Expenses $7,728,362
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 23-7204066
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1973
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $97,581,985
- Income (IRS master file)
- $65,625,874
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $6,350,285 | $9,655,338 | $97,581,985 | XML |
| 990 | December 2023 | $5,648,164 | $9,857,251 | $100,887,038 | XML |
| 990 | December 2022 | $10,278,713 | $19,221,547 | $105,096,125 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 23-7204066).
Questions about CONNECTICUT INSURANCE GUARANTY ASSOCIATION
- What is the EIN of CONNECTICUT INSURANCE GUARANTY ASSOCIATION?
- The employer identification number (EIN) of CONNECTICUT INSURANCE GUARANTY ASSOCIATION is 23-7204066.
- Is CONNECTICUT INSURANCE GUARANTY ASSOCIATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1973.
- Are donations to CONNECTICUT INSURANCE GUARANTY ASSOCIATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does CONNECTICUT 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 CONNECTICUT 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 CONNECTICUT 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 CONNECTICUT INSURANCE GUARANTY ASSOCIATION?
- The 990 for the year ended December 31, 2024 names Barbara Petersen Law.
- Who are the officers and directors of CONNECTICUT INSURANCE GUARANTY ASSOCIATION?
- The 990 for the year ended December 31, 2024 lists 7 people; 0 received compensation from the organization.
- How much revenue does CONNECTICUT INSURANCE GUARANTY ASSOCIATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $6,350,285, expenses of $9,655,338 and total assets of $97,581,985 at year end.
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