MISSISSIPPI INSURANCE GUARANTY ASSOCIATION FOUNDATION (EIN 237366411) - Form 990 Financial Analysis & Trantor Score

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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

1970

Legal Domicile

Principal Officer

ARTHUR RUSSELL

Phone

6019570072

Tax Period

2023-01-01 to 2023-12-31

MISSISSIPPI INSURANCE GUARANTY ASSOCIATION FOUNDATION, founded in 1970, is a community nonprofit that reported $2.7M in total revenue in fiscal year 2023. Revenue fell 45% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $11.1M, a strong 411% operating margin.

Mission

MANAGE IN A PROFESSIONAL AND TIMELY MANNER THE PROPERTY-CASUALTY INSOLVENCIES FOR WHICH MIGA IS RESPONSIBLE BY DISCHARGING ASSOCIATION DUTIES IN ACCORDANCE WITH GOVERNING STATUTES AND PLAN OF OPERATING PROVISIONS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $1,420,269

Other Revenue $1,270,769

TOTAL REVENUE $2,691,038

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $-8,362,360

TOTAL EXPENSES $-8,362,360

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,691,038	$4,863,584	-0.4%
Expenses	$-8,362,360	$-2,377,967	+2.5%
Net Income	$11,053,398	$7,241,551	+0.5%

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

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

$152,922

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BECKY HILLHOUSE AMFED NATIONAL INSU	CLAIM COMM	3.00	Director	$0	$0	$0
BRYAN HUBBARD ALFA INSURANCE CO	SECRETARY/EXEC COMM	3.00	Officer Director	$0	$0	$0
CAREY BREEDLOVE TRAVELERS INS CO	INVESTMENT COMM	3.00	Director	$0	$0	$0
JEFFREY CARVER BERKLEY SOUTHEAST GR	PERSONNEL COMM	3.00	Director	$0	$0	$0
JIM ROWLES MS FARM BUREAU	VICE CHAIRMAN/EXECUTIVE CO	3.00	Officer Director	$0	$0	$0
LISA PIERCE ALLSTATE INSURANCE CO	TREASURER/LEGISLATIVE COMM	3.00	Officer Director	$0	$0	$0
LISA WATSON EMC	CLAIM COMM	3.00	Director	$0	$0	$0
MATT WILSON TRAVELERS INS CO	CLAIM COMM	3.00	Director	$0	$0	$0
MIKE RICHARDSON AMFED NAT'L INS CO	CHAIRMAN/EXECUTIVE COMM	3.00	Officer Director	$0	$0	$0
RAY WAUGH NATIONWIDE INSURANCE CO	LEGISLATIVE COMM	3.00	Director	$0	$0	$0
RON PAYNE STATE FARM INSURANCE CO	LEGISLATIVE COMM	3.00	Director	$0	$0	$0
TIFFANY HAWKINS FCCI INSURANCE GROU	INVESTMENT COMM-CHAIR	3.00	Director	$0	$0	$0
ARTHUR RUSSELL	EXECUTIVE DIRECTOR	40.00	Key Emp	$152,922	$0	$152,922

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	$2,691,038	$-8,362,360	$110,291,450	$11,053,398
2022	$4,863,584	$-2,377,967	$109,515,379	$7,241,551
2021	$4,014,467	$-3,205,227	$121,988,001	$7,219,694
2020	$3,927,073	$-6,890,889	$127,632,628	$10,817,962
2019	$23,041,194	$31,043,008	$124,470,738	$-8,001,814
2018	$19,736,015	$15,276,144	$105,626,557	$4,459,871

MISSISSIPPI INSURANCE GUARANTY ASSOCIATION FOUNDATION