DELAWARE LIFE & HEALTH INSURANCE G… - 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

1983

Legal Domicile

Principal Officer

BARRY MILLER

Phone

3024563656

Tax Period

2024-01-01 to 2024-12-31

DELAWARE LIFE & HEALTH INSURANCE GUARANTY ASSOCIATION, founded in 1983, is a mid-sized nonprofit that reported $13.2M in total revenue in fiscal year 2024. Revenue surged 847% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.1M, a strong 16% operating margin.

Mission

THE PURPOSE OF THE ASSOCIATION IS IS TO PROTECT POLICY OWNERS, INSUREDS, BENEFICIARIES, ANNUIANTS, PAYEES AND ASSIGNEES OF LIFE INSURANCE POLICIES, HEALTH INSURANCE POLICIES, ANNUITY CONTRACTS, SUBJECT TO CETTAIN LIMITATIONS, AGAINST FAILURE IN THE PERFORMANCE OF CONTRACTIONAL OBLIGATIONS DUE TO IMPAIRMENT OF INSOLVANCY.

Program Service Accomplishments

Program 1

Expenses: $4,527 Revenue: $12,994,734

THE PURPOSE OF THE LARGEST PROGRAM OF THE DELAWARE LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION IS TO PROTECT SUBJECT TO CERTAIN LIMITATIONS, THE PERSONS SPECIFIED IN CHAPTER 44 OF THE DELAWARE...

THE PURPOSE OF THE LARGEST PROGRAM OF THE DELAWARE LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION IS TO PROTECT SUBJECT TO CERTAIN LIMITATIONS, THE PERSONS SPECIFIED IN CHAPTER 44 OF THE DELAWARE INSURANCE CODE AGAINST FAILURE IN THE PERFORMANCE OF CONTRACTURAL OBLIGATIONS, UNDER LIFE AND HEALTH INSURANCE POLICIES AND ANNUITY CONTRACTS SPECIFIED IN CHAPTER 44 OF THE DELAWARE INSURANCE CODE, BECAUSE OF THE IMPAIRMENT OR INSOLVENCY OF THE MEMBER INSURER THAT ISSUED THE POLICIES OR CONTRACTS.

Program 2

Expenses: $600,000

THE PURPOSE OF THE OTHER PROGRAM OF THE DELAWARE LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION IS TO PROVIDE FUNDING FOR THE SOLVENCY OVERSIGHT OF THE MEMBER COMPANIES BTY THE DELAWARE INSURANCE...

THE PURPOSE OF THE OTHER PROGRAM OF THE DELAWARE LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION IS TO PROVIDE FUNDING FOR THE SOLVENCY OVERSIGHT OF THE MEMBER COMPANIES BTY THE DELAWARE INSURANCE COMMISSIONER, THEREBY MINIMIZING THE EXPENSE OF THE PROGRAM LISTED IN 4A PER CHANTER 44 OF THE DELAWARE INSURANCE CODE.

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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 $12,994,734

Investment Income $163,969

Other Revenue $0

TOTAL REVENUE $13,158,703

Expense Breakdown

Grants Paid $600,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $10,875,686

Other Expenses $319,153

TOTAL EXPENSES $11,029,664

Year-over-Year Comparison

	2024	2023	Change
Revenue	$13,158,703	$1,389,192	+8.5%
Expenses	$11,029,664	$1,165,417	+8.5%
Net Income	$2,129,039	$223,775	+8.5%

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

Governance

Voting Members

Independent Members

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BARRY MILLER	EXECUTIVE DI	N/A	Officer	$0	$0	$0
N/A	DIRECTOR	N/A	Director	$0	$0	$0
N/A	DIRECTOR	N/A	Director	$0	$0	$0
N/A	DIRECTOR	N/A	Director	$0	$0	$0
N/A	DIRECTOR	N/A	Director	$0	$0	$0
N/A	DIRECTOR	N/A	Director	$0	$0	$0
N/A	DIRECTOR	N/A	Director	$0	$0	$0
N/A	DIRECTOR	N/A	Director	$0	$0	$0
N/A	DIRECTOR	N/A	Director	$0	$0	$0
GUARDIAN LIFE INS CO OF AMERICA	DIRECTOR	N/A	Director	$0	$0	$0
JONATHAN W RENFREW	SECRETARY -	N/A	Officer	$0	$0	$0
JOHN DEITELBAUM	CHAIRMAN	N/A	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	$13,158,703	$11,029,664	$5,483,608	$2,129,039
2023	$1,389,192	$1,165,417	$3,354,569	$223,775
2022	$128,985	$1,132,410	$3,130,794	$-1,003,425
2021	$464,850	$838,583	$4,166,177	$-373,733
2020	$323,873	$810,586	$4,507,952	$-486,713
2019	$619,390	$829,916	$4,994,665	$-210,526
2018	$628,000	$2,980,654	$5,202,336	$-2,352,654

DELAWARE LIFE & HEALTH INSURANCE GUARANTY ASSOCIATION