THE LIFE AND HEALTH INSURANCE COMPANY GUARANTY CORPORATION OF NEW YORK

EIN: 133528849

Kew Gardens Hills, NY

Total Revenue
$897,134
Total Expenses
$452,910
Total Assets
$6,000,046
Net Assets
$6,000,046
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
NY
Principal Officer
James F Donellan
Phone
2122024243
Tax Period
2023-01-01 to 2023-12-31

THE LIFE AND HEALTH INSURANCE COMPANY GUARANTY CORPORATION OF NEW YORK, founded in 1985, is a small nonprofit that reported $897K in total revenue in fiscal year 2023. Revenue surged 230% from the prior year, signaling strong growth momentum. The organization ran a surplus of $444K, a strong 50% operating margin.

Mission

The purpose of the Corporation is to provide New York State residents with protection from failure in the performance of contractual obligations due to the impairment or insolvency of life and health insurance companies authorized to do business in New York State.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $632,200
Program Service Revenue $0
Investment Income $264,934
Other Revenue $0
TOTAL REVENUE $897,134

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $0
Other Expenses $452,910
TOTAL EXPENSES $452,910

Year-over-Year Comparison

2023 2022 Change
Revenue $897,134 $271,743 +2.3%
Expenses $452,910 $251,057 +0.8%
Net Income $444,224 $20,686 +20.5%
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

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Governance

Voting Members
13
Independent Members
13
Employees
N/A
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
4
$0
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A Director 0.10
Director
$0 $0 $0
N/A Director 0.10
Director
$0 $0 $0
James Donellan Vice-Chairman and Director 2
Officer Director
$0 $0 $0
N/A Director 0.10
Director
$0 $0 $0
N/A Director 0.1
Director
$0 $0 $0
N/A Director 0.1
Director
$0 $0 $0
N/A Treasurer and Director 2
Officer Director
$0 $0 $0
N/A Director 0.1
Director
$0 $0 $0
N/A Director 0.1
Director
$0 $0 $0
N/A Director 0.1
Director
$0 $0 $0
N/A Secretary and Director 2
Officer Director
$0 $0 $0
N/A Director 0.1
Director
$0 $0 $0
N/A Director 0.1
Director
$0 $0 $0
Adrienne Harris Chairman, Ex Officio 0.1
Officer
$0 $0 $0
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
2024 No data No data No data No data
2023 $897,134 $452,910 $6,000,046 $444,224
2022 $271,743 $251,057 $5,555,822 $20,686
2021 $192,989 $228,080 $5,535,136 $-35,091
2020 $244,485 $238,239 $5,570,227 $6,246
2019 $307,890 $227,567 $5,563,981 $80,323
2018 $261,578 $223,154 $5,483,658 $38,424
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