Nonprofit · EIN 56-1566179
NORTH CAROLINA SELF INSURANCE GUARANTY ASSOCIATION
Tax-exempt · RALEIGH, NC 27605
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $4,083,621 | $932,039 | $3,151,582 | $51,180,282 | $11,298,832 | $39,881,450 |
| December 31, 2023 | 990 | $5,855,428 | $9,526,619 | -$3,671,191 | $49,828,194 | $14,369,028 | $35,459,166 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $1,773,039
- Investment income
- $2,310,582
- Net gain from sales of assets
- $880,593
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $281,120
- Accounting fees
- $45,589
Balance sheet and other
- Total assets, start of year
- $49,828,194
- Total assets, end of year
- $51,180,282
- Total liabilities, end of year
- $11,298,832
- Net assets, end of year
- $39,881,450
- Publicly traded securities
- $47,191,031
- Net assets without donor restrictions
- $39,881,450
- Gross receipts
- $8,093,006
- Employees
- 0
- Volunteers
- 0
- Year formed
- 1986
- State of legal domicile
- NC
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 |
|---|---|---|---|
| THOMAS R YARBORO | CHAIRMAN, BOARD OF DIRECTO Trustee or director, Officer | 3 | $0 |
| SCOTT MYERS | DIRECTOR Trustee or director | 1 | $0 |
| TIA SCHWEIKERT | DIRECTOR Trustee or director | 1 | $0 |
| PATRICK EGLINTON | VICE CHAIRMAN, BOARD OF DI Trustee or director, Officer | 2 | $0 |
| JULIE GROVES | DIRECTOR Trustee or director | 1 | $0 |
| MELISSA CULBRETH | SECRETARY-TREASURER, BOARD Trustee or director, Officer | 2 | $0 |
| NEAL COPE | DIRECTOR Trustee or director | 1 | $0 |
| LEIGH HICKMAN | DIRECTOR Trustee or director | 1 | $0 |
| CHARLES C KYLES | DIRECTOR Trustee or director | 1 | $0 |
| STEPHANIE ROGERS | DIRECTOR Trustee or director | 1 | $0 |
| GILL FRAZIER | DIRECTOR Trustee or director | 1 | $0 |
| AMANDA CULTER | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 11 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| THOMAS R YARBORO | CHAIRMAN, BOARD OF DIRECTORS Trustee or director, Officer | 3 | $0 |
| SCOTT MYERS | DIRECTOR Trustee or director | 1 | $0 |
| TIA SCHWEIKERT | DIRECTOR Trustee or director | 1 | $0 |
| PATRICK EGLINTON | VICE CHAIRMAN, BOARD OF DIRECTORS Trustee or director, Officer | 2 | $0 |
| JULIE GROVES | DIRECTOR Trustee or director | 1 | $0 |
| MELISSA CULBRETH | SECRETARY-TREASURER, BOARD OF DIRECTORS Trustee or director, Officer | 2 | $0 |
| NEAL COPE | DIRECTOR Trustee or director | 1 | $0 |
| LEIGH HICKMAN | DIRECTOR Trustee or director | 1 | $0 |
| CHARLES C KYLES | DIRECTOR Trustee or director | 1 | $0 |
| STEPHANIE ROGERS | DIRECTOR Trustee or director | 1 | $0 |
| GILL FRAZIER | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 12442, RALEIGH, NC 27605-2442
- In care of
- % FRANKLIN T ROBERTS SR
- Principal officer (990 for 2024)
- THOMAS R YARBORO, PO BOX 12442, RALEIGH, NC 276052442
- Signed the 990
- THOMAS R YARBORO, CHAIRMAN
- Phone
- (919) 475-3451
- Website
- WWW.NCSISA.ORG
- Return prepared by
- BATCHELOR TILLERY & ROBERTS LLP
Mission
SEE SCHEDULE O
Program accomplishments
- PURSUANT TO THE 2006 AND 2011 STATUTORY AMENDMENTS, THE ASSOCIATION EXPANDED ITS PROGRAM SERVICES TO INCLUDE THE PURCHASE OF FINANCIAL GUARANTEES, INSURANCE, REINSURANCE OR OTHER INSTRUMENTS TO COLLECTIVELY SECURE ALL OUTSTANDING INDIVIDUAL MEMBER SELF-INSURER WORKERS' COMPENSATION LIABILITIES BASED UPON ACTUARIAL REPORTS PROVIDED BY EACH MEMBER SELF-INSURER. IN ACCORDANCE WITH ITS STATUTORY MANDATE, THE ASSOCIATION MAY ANNUALLY IMPLEMENT AN ALTERNATIVE SECURITY PROGRAM KNOWN AS THE ASSOCIATION AGGREGATE SECURITY SYSTEM (AASS) THE AASS PROVIDES FOR A PORTFOLIO BASED PROGRAM WHICH REPLACED INDIVIDUAL STATUTORY DEPOSITS POSTED BY MEMBER SELF-INSURERS BASED ON THEIR WORKERS' COMPENSATION LIABILITIES,WHICH WAS ALSO REQUIRED AS A CONDITION OF RECEIVING A NORTH CAROLINA LICENSE TO SELF-INSURE BY THE NORTH CAROLINA DEPARTMENT OF INSURANCE.. FOR THE PORTFOLIO BASED PROGRAM IN ORDER TO PROTECT ALL MEMBER SELF-INSURERS,THE AASS MAY USE A COMBINATION OF THE SECURITY FUND, FINANCIAL GUARANTEES, INSURANCE POLICIES OR OTHER INSTRUMENTS WHICH ARE PURCHASED BY THE ASSOCIATION.AS OF DECEMBER 31, 2024, THE ASSOCIATION HAD COVERAGE THROUGH A THREE-YEAR INSURANCE POLICY WHICH COVERED ALL PARTICIPATING MEMBER SELF-INSURERS IN THE AASS AS OF DECEMBER 1, 2022, AND WILL REMAIN IN EFFECT THROUGH NOVEMBER 30, 2025. THE ANNUAL COSTS OF THE AASS INCLUDE THE INSURANCE POLICY AS WELL AS DESIGN AND IMPLEMENTATION WHICH ARE PAID FROM THE AASS ASSESSMENTS OF PARTICIPATING SELF INSURERS AS DETERMINED BY THE ASSOCIATION BOARD OF DIRECTORS. AASS ASSESSMENTS ARE BASED ON THE CREDIT WORTHINESS OF PARTICIPATING SELF INSURERS AND THEIR PRO-RATA SHARE OF THE AGGREGATE OUTSTANDING WORKERS' COMPENSATION CLAIMS LIABILITIES. THE ASSOCIATION IS AUTHORIZED TO MONITOR THE CREDIT WORTHINESS OF EACH PARTICIPATING MEMBER SELF-INSURER AND ENGAGES IN FINANCIAL EVALUATION OF EACH PARTICIPANT IN THE 2024-2025 AASS. ALTHOUGH MEMBER GROUP SELF-INSURERS DO NOT PARTICIPATE IN THE AASS, THE ASSOCIATION IS REQUIRED TO PAY COVERED CLAIMS INCURRED AGAINST INSOLVENT GROUP SELF-INSURERS IN ACCORDANCE WITH ITS STATUTORY MANDATE THEREFORE, THE ASSOCIATION HAS DISCRETION TO CONDUCT A SEPARATE ASSESSMENT OF GROUP SELF INSURERS.
- UPON THE INSOLVENCY OF A MEMBER SELF-INSURER, THE ASSOCIATION COLLABORATES WITH THE NORTH CAROLINA DEPARTMENT OF INSURANCE, INVESTIGATES AND PARTICIPATES IN BANKRUPTCY PROCEEDINGS, AND WORKS WITH CORPORATE REPRESENTATIVES FROM THE INSOLVENT SELF-INSURER TO DETERMINE THE ACTION PLAN FOR THE PAYMENT OF OUTSTANDING MEMBER WORKERS' COMPENSATION CLAIMS. THE ASSOCIATION INVESTIGATES ALL RELEVANT INSURANCE CARRIERS TO DETERMINE WHAT IF ANY RECOVERIES MAY BE AVAILABLE FOR THE PAYMENT OF WORKERS' COMPENSATION CLAIMS. IN ACCORDANCE WITH ITS STATUTORY MANDATE, UPON DEFAULT ON THE PAYMENT OF WORKERS' COMPENSATION CLAIMS BY A FORMER MEMBER SELF-INSURER, THE ASSOCIATION PAYS COVERED CLAIMS AND PURSUES RECOVERIES IN THE BANKRUPTCY COURT OR LIQUIDATION PROCEEDING AND PURSUES RECOVERIES FROM ALL RELEVANT INSURANCE CARRIERS OR FINANCIAL INSTITUTIONS.
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
- 56-1566179
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1987
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $51,180,282
- Income (IRS master file)
- $8,093,006
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $4,083,621 | $932,039 | $51,180,282 | XML |
| 990 | December 2023 | $5,855,428 | $9,526,619 | $49,828,194 | XML |
| 990 | December 2022 | $1,919,399 | $1,536,342 | $42,811,926 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 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 56-1566179).
Questions about NORTH CAROLINA SELF INSURANCE GUARANTY ASSOCIATION
- What is the EIN of NORTH CAROLINA SELF INSURANCE GUARANTY ASSOCIATION?
- The employer identification number (EIN) of NORTH CAROLINA SELF INSURANCE GUARANTY ASSOCIATION is 56-1566179.
- Is NORTH CAROLINA SELF INSURANCE GUARANTY ASSOCIATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1987.
- Are donations to NORTH CAROLINA SELF INSURANCE GUARANTY ASSOCIATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does NORTH CAROLINA SELF 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 NORTH CAROLINA SELF 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 NORTH CAROLINA SELF 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 NORTH CAROLINA SELF INSURANCE GUARANTY ASSOCIATION?
- The 990 for the year ended December 31, 2024 names THOMAS R YARBORO.
- Who are the officers and directors of NORTH CAROLINA SELF INSURANCE GUARANTY ASSOCIATION?
- The 990 for the year ended December 31, 2024 lists 12 people; 0 received compensation from the organization.
- How much revenue does NORTH CAROLINA SELF INSURANCE GUARANTY ASSOCIATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $4,083,621, expenses of $932,039 and total assets of $51,180,282 at year end.
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