RALEIGH, NC
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)NORTH CAROLINA INSURANCE GUARANTY ASSOCI, founded in 1971, is a mid-sized nonprofit that reported $16.0M in total revenue in fiscal year 2024. Revenue fell 49% from the prior year — a significant decline worth monitoring. Expenses of $24.3M exceeded revenue, resulting in a 52% operating deficit.
THE PURPOSE OF THE NORTH CAROLINA INSURANCE GUARANTY ASSOCIATION IS TO PROVIDE A MECHANISM FOR THE PAYMENT OF COVERED CLAIMS UNDER CERTAIN INSURANCE POLICIES, TO AVOID EXCESSIVE DELAY IN PAYMENT, AND TO AVOID FINANCIAL LOSS TO CLAIMANTS OF POLICYHOLDERS BECAUSE OF THE INSOLVENCY OF AN INSURER, TO ASSIST IN THE DETECTION AND PREVENTION OF INSURER INSOLVENCIES, AND TO PROVIDE AN ASSOCIATION TO ASSESS THE LOSS OF SUCH PROTECTION AMONG INSURERS.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $15,993,250 | $31,484,715 | -0.5% |
| Expenses | $24,259,876 | $16,499,358 | +0.5% |
| Net Income | $-8,266,626 | $14,985,357 | -1.6% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| JOANNA BILIOURIS | GENERAL MANAGER | 7.50 |
Officer
|
$0 | $36,409 | $384,443 |
| EDITH DAVIS | CHIEF FINANCIAL OFFICER | 12.38 |
Officer
|
$0 | $101,600 | $374,257 |
| DONNA KALLIANOS | CHIEF OPERATING OFFICER | 36.00 |
Key Emp
|
$230,997 | $90,137 | $321,134 |
| TAMMY CHOBOY | TECHNICAL & ADMINISTRATIVE MANAGER | 37.50 |
Highest
|
$138,969 | $42,927 | $181,896 |
| KIM POWELL | CLAIMS MANAGER | 37.50 |
Highest
|
$135,283 | $65,753 | $201,036 |
| KATHLYN GORMAN | LITIGATION MANAGER | 37.50 |
Highest
|
$115,573 | $21,500 | $137,073 |
| ROBIN WOODARD | MULTI-LINE CLAIMS COORDINATOR | 37.50 |
Highest
|
$112,217 | $16,211 | $128,428 |
| N/A | BOARD CHAIRMAN | 1.00 |
|
$0 | $0 | $0 |
| N/A | VICE CHAIRMAN | 1.00 |
|
$0 | $0 | $0 |
| N/A | DIRECTOR | 1.00 |
|
$0 | $0 | $0 |
| N/A | DIRECTOR | 1.00 |
|
$0 | $0 | $0 |
| N/A | DIRECTOR (INCOMING 2024) | 1.00 |
|
$0 | $0 | $0 |
| N/A | DIRECTOR | 1.00 |
|
$0 | $0 | $0 |
| N/A | DIRECTOR | 1.00 |
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $15,993,250 | $24,259,876 | $123,336,163 | $-8,266,626 |
| 2023 | $31,484,715 | $16,499,358 | $131,600,660 | $14,985,357 |
| 2022 | $25,291,670 | $29,171,088 | $116,615,303 | $-3,879,418 |
| 2021 | $22,094,183 | $12,411,907 | $120,494,721 | $9,682,276 |
| 2020 | $27,957,673 | $19,370,315 | $110,812,445 | $8,587,358 |
| 2019 | $18,890,891 | $21,331,434 | $102,225,087 | $-2,440,543 |
| 2018 | $45,498,675 | $16,710,283 | $104,665,630 | $28,788,392 |
Compare NORTH CAROLINA INSURANCE GUARANTY ASSOCI with other nonprofits in North Carolina and across the country.