Rhode Island Life & Health Insuran… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1986

Legal Domicile

Phone

4014903422

Tax Period

2024-10-01 to 2025-09-30

Rhode Island Life & Health Insurance Guaranty Assoc co Pierce Atwood LLP, founded in 1986, is a mid-sized nonprofit that reported $73.7M in total revenue in fiscal year 2024. Revenue surged 78801% from the prior year, signaling strong growth momentum. Expenses of $67.6M left a modest 8% surplus.

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

Program Service Accomplishments

Program 1

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

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $72,959,295

Investment Income $728,723

Other Revenue $0

TOTAL REVENUE $73,688,018

Expense Breakdown

Grants Paid $0

Salaries & Benefits $95,332

Fundraising Expenses $0

Other Expenses $67,472,715

TOTAL EXPENSES $67,568,047

Year-over-Year Comparison

	2024	2023	Change
Revenue	$73,688,018	$93,393	+788.0%
Expenses	$67,568,047	$292,113	+230.3%
Net Income	$6,119,971	$-198,720	-31.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$99,583

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Margarett Sperry Esq	Executive Direc	20.00	Officer	$79,583	$0	$79,583
Brooks R Magratten	Executive Direc	20.00	Officer	$20,000	$0	$20,000

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$73,688,018	$67,568,047	$8,709,237	$6,119,971
2024	$93,393	$292,113	$2,589,266	$-198,720
2023	$397,111	$191,394	$2,774,768	$205,717
2022	$359,286	$289,050	$2,569,051	$70,236
2021	$350,599	$256,654	$2,498,815	$93,945
2020	$334,993	$250,836	$2,404,870	$84,157
2019	$354,730	$227,333	$2,320,713	$127,397

Rhode Island Life & Health Insurance Guaranty Assoc co Pierce Atwood LLP