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Nonprofit · EIN 23-7366411

MISSISSIPPI INSURANCE GUARANTY ASSOCIATION

Tax-exempt · FLOWOOD, MS 39232

Financials

$2.7M−$8.4M2023$3.6M−$17.8M2024$4.3M−$437K2025
Revenue Expenses · by fiscal year end
Financials of MISSISSIPPI INSURANCE GUARANTY ASSOCIATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2025990$4,256,813-$437,137$4,693,950$114,951,443$41,550,940$73,400,503
December 31, 2024990$3,630,256-$17,767,935$21,398,191$111,066,398$46,291,682$64,774,716
December 31, 2023990$2,691,038-$8,362,360$11,053,398$110,291,450$67,266,807$43,024,643
Financial details: 990 for the year ended December 31, 2025

Revenue

Contributions, gifts and grants
$0
Program service revenue
$0
Investment income
$2,965,364
Net gain from sales of assets
-$655,684
Other revenue
$1,291,449

Expenses

Grants and similar amounts paid
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Depreciation
$13,063

Balance sheet and other

Total assets, start of year
$111,066,398
Total assets, end of year
$114,951,443
Total liabilities, end of year
$41,550,940
Net assets, end of year
$73,400,503
Land, buildings and equipment
$52,503
Publicly traded securities
$111,920,296
Net assets without donor restrictions
$73,400,503
Gross receipts
$27,818,468
Employees
6
Volunteers
0
Year formed
1970
State of legal domicile
MS

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, 2025, highest compensation first.

NameTitleHours / weekCompensation
ARTHUR RUSSELLEXECUTIVE DIRECTOR
Key employee
40$172,114
BECKY HILLHOUSE AMFED NATIONALCLAIM COMM
Trustee or director
3$0
BRYAN HUBBARD ALFA INSURANCE COSECRETARY/TREASURER/EXEC C
Trustee or director, Officer
3$0
CAREY BREEDLOVE TRAVELERS INS COINVESTMENT COMM
Trustee or director
3$0
CARLY HERMANSON ALLSTATE INSURANCELEGISLATIVE COMM
Trustee or director
3$0
CLINT FISHER MS FARM BUREAU INSCLAIM COMM
Trustee or director
3$0
GREG MCLEMORE ASCOT GROUPINVESTMENT COMM
Trustee or director
3$0
JEFFREY CARVER BERKLEY SOUTHEAST INVICE CHAIRMAN/PERSONNEL CO
Trustee or director, Officer
3$0
JIM ROWLES MS FARM BUREAUCHAIRMAN/EXECUTIVE COMM
Trustee or director, Officer
3$0
LISA WATSON EMCCLAIM COMM
Trustee or director
3$0
RAY WAUGH NATIONWIDE INSURANCE COLEGISLATIVE COMM
Trustee or director
3$0
TIFFANY HAWKINS FCCI INSURANCE GROUINVESTMENT COMM-CHAIR
Trustee or director
3$0
990 for the year ended December 31, 2024: 12 people
NameTitleHours / weekCompensation
ARTHUR RUSSELLEXECUTIVE DIRECTOR
Key employee
40$163,918
BECKY HILLHOUSE AMFED NATIONALCLAIM COMM
Trustee or director
3$0
BRYAN HUBBARD ALFA INSURANCE COSECRETARY/TREASURER/EXEC COMM
Trustee or director, Officer
3$0
CAREY BREEDLOVE TRAVELERS INS COINVESTMENT COMM
Trustee or director
3$0
CARLY HERMANSON ALLSTATE INSURANCELEGISLATIVE COMM
Trustee or director
3$0
CLINT FISHER MS FARM BUREAU INSCLAIM COMM
Trustee or director
3$0
GREG MCLEMORE ASCOT GROUPINVESTMENT COMM
Trustee or director
3$0
JEFFREY CARVER BERKLEY SOUTHEAST INVICE CHAIRMAN/PERSONNEL COMM
Trustee or director, Officer
3$0
JIM ROWLES MS FARM BUREAUCHAIRMAN/EXECUTIVE COMM
Trustee or director, Officer
3$0
LISA WATSON EMCCLAIM COMM
Trustee or director
3$0
RAY WAUGH NATIONWIDE INSURANCE COLEGISLATIVE COMM
Trustee or director
3$0
TIFFANY HAWKINS FCCI INSURANCE GROUINVESTMENT COMM-CHAIR
Trustee or director
3$0
990 for the year ended December 31, 2023: 13 people
NameTitleHours / weekCompensation
ARTHUR RUSSELLEXECUTIVE DIRECTOR
Key employee
40$152,922
BECKY HILLHOUSE AMFED NATIONAL INSUCLAIM COMM
Trustee or director
3$0
BRYAN HUBBARD ALFA INSURANCE COSECRETARY/EXEC COMM
Trustee or director, Officer
3$0
CAREY BREEDLOVE TRAVELERS INS COINVESTMENT COMM
Trustee or director
3$0
JEFFREY CARVER BERKLEY SOUTHEAST GRPERSONNEL COMM
Trustee or director
3$0
JIM ROWLES MS FARM BUREAUVICE CHAIRMAN/EXECUTIVE CO
Trustee or director, Officer
3$0
LISA PIERCE ALLSTATE INSURANCE COTREASURER/LEGISLATIVE COMM
Trustee or director, Officer
3$0
LISA WATSON EMCCLAIM COMM
Trustee or director
3$0
MATT WILSON TRAVELERS INS COCLAIM COMM
Trustee or director
3$0
MIKE RICHARDSON AMFED NAT'L INS COCHAIRMAN/EXECUTIVE COMM
Trustee or director, Officer
3$0
RAY WAUGH NATIONWIDE INSURANCE COLEGISLATIVE COMM
Trustee or director
3$0
RON PAYNE STATE FARM INSURANCE COLEGISLATIVE COMM
Trustee or director
3$0
TIFFANY HAWKINS FCCI INSURANCE GROUINVESTMENT COMM-CHAIR
Trustee or director
3$0

Address and contacts

Address (IRS master file)
1905 COMMUNITY BANK WAY STE 120, FLOWOOD, MS 39232-1249
Principal officer (990 for 2025)
ARTHUR RUSSELL, 1905 COMMUNITY BANK WAY SUITE 120, FLOWOOD, MS 39232
Signed the 990
ARTHUR RUSSELL, EXECUTIVE DIRECTOR
Phone
(601) 957-0072
Return prepared by
MATTHEWS CUTRER & LINDSAY PA

Mission

OUR MISSION IS TO MANAGE IN A PROFESSIONAL AND TIMELY MANNER THE PROPERTY-CASUALTY INSOLVENCIES FOR WHICH MIGA IS RESPONSIBLE BY DISCHARGING ASSOCIATION DUTIES IN ACCORDANCE WITH GOVERNING STATUTES AND PLAN OF OPERATING PROVISIONS.

990 for the year ended December 31, 2025

Program accomplishments

  • THE MISSISSIPPI INSURANCE GUARANTY ASSOCIATION IS A NON-PROFIT ENTITY AUTHORIZED UNDER THE MISSISSIPPI INSURANCE GUARANTY ASSOCIATION LAW AS OF APRIL 6, 1970. THE ASSOCIATION PROVIDES A MECHANISM FOR THE PAYMENT OF COVERED CLAIMS UNDER CERTAIN INSURANCE POLICIES TO AVOID EXCESSIVE DELAY IN PAYMENT AND AVOID FINANCIAL LOSS TO CLAIMANTS OR POLICYHOLDERS BECAUSE OF THE INSOLVENCY OF AN INSURER. THE ACT REQUIRES ALL INSURERS WHO WRITE DIRECT INSURANCE EXCEPT LIFE, TITLE, SURETY, DISABILITY, CREDIT, MORTGAGE GUARANTY, AND OCEAN MARINE INSURANCE TO BE MEMBERS OF THE ASSOCIATION AS A CONDITION OF THEIR AUTHORITY TO TRANSACT INSURANCE BUSINESS IN MISSISSIPPI.THE ACT GRANTS THE ASSOCIATION THE POWERS TO ASSESS INSURERS AMOUNTS NECESSARY TO PAY CLAIMS AND OTHER EXPENSES OF THE ASSOCIATION. THE ASSESSMENT OF EACH MEMBER INSURER IS IN THE PROPORTION THAT THE NET DIRECT WRITTEN PREMIUMS FOR THE MEMBER INSURER FOR THE PRECEDING CALENDER YEAR BEARS TO THE NET DIRECT WRITTEN PREMIUMS OF ALL MEMBER INSURERS FOR THE PRECEDING CALENDER YEAR. THE ASSESSMENT FOR ANY YEAR IS LIMITED TO ONE PERCENT OF THAT MEMBER'S DIRECT WRITTEN PREMIUMS FOR THE PRECEEDING CALENDER YEAR.RECOVERIES, IF ANY, FROM THE RECEIVER OR LIQUIDATOR OF INSOLVENT INSURERS ARE TO BE REFUNDED TO THE MEMBER INSURERS IN PROPORTION TO THE CONTRIBUTIONS OF EACH MEMBER INSURER TO THE ASSOCIATION.

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, 2026990 on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
23-7366411
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)
$114,951,443
Income (IRS master file)
$27,818,468

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2025$4,256,813-$437,137$114,951,443XML
990December 2024$3,630,256-$17,767,935$111,066,398IRS
990December 2023$2,691,038-$8,362,360$110,291,450XML
990December 2022$4,863,584-$2,377,967$109,515,379IRS
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 23-7366411).

Questions about MISSISSIPPI INSURANCE GUARANTY ASSOCIATION

What is the EIN of MISSISSIPPI INSURANCE GUARANTY ASSOCIATION?
The employer identification number (EIN) of MISSISSIPPI INSURANCE GUARANTY ASSOCIATION is 23-7366411.
Is MISSISSIPPI INSURANCE GUARANTY ASSOCIATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1974.
Are donations to MISSISSIPPI INSURANCE GUARANTY ASSOCIATION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does MISSISSIPPI 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 MISSISSIPPI INSURANCE GUARANTY ASSOCIATION due?
The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did MISSISSIPPI INSURANCE GUARANTY ASSOCIATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2025.
Who is the principal officer of MISSISSIPPI INSURANCE GUARANTY ASSOCIATION?
The 990 for the year ended December 31, 2025 names ARTHUR RUSSELL.
Who are the officers and directors of MISSISSIPPI INSURANCE GUARANTY ASSOCIATION?
The 990 for the year ended December 31, 2025 lists 12 people; 1 received compensation from the organization, the highest $172,114 (ARTHUR RUSSELL, EXECUTIVE DIRECTOR).
How much revenue does MISSISSIPPI INSURANCE GUARANTY ASSOCIATION have?
On its 990 for the year ended December 31, 2025 it reported revenue of $4,256,813, expenses of -$437,137 and total assets of $114,951,443 at year end.

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