SOUTH DAKOTA LIFE AND HEALTH INSUR… - 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

1989

Legal Domicile

Principal Officer

CHARLES GULLICKSON

Phone

6053362880

Tax Period

2024-01-01 to 2024-12-31

SOUTH DAKOTA LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION, founded in 1989, is a community nonprofit that reported $6.1M in total revenue in fiscal year 2024. Revenue surged 118% from the prior year, signaling strong growth momentum. The organization ran a surplus of $5.6M, a strong 91% operating margin.

Mission

THE PURPOSE OF THE ASSOCIATION IS TO PROTECT RESIDENTS OF SOUTH DAKOTA, AND OTHERS UNDER CERTAIN CIRCUMSTANCES, AGAINST FAILURE IN THE PERFORMANCE OF CONTRACTUAL OBLIGATIONS UNDER LIFE AND HEALTH INSURANCE POLICIES AND ANNUITY CONTRACTS BECAUSE OF THE IMPAIRMENT OR INSOLVENCY OF A MEMBER INSURER THAT ISSUED SUCH POLICIES OR CONTRACTS.

Program Service Accomplishments

Program 1

THE SOUTH DAKOTA LIFE & HEALTH INSURANCE GUARANTY ASSOCIATION (THE "ASSOCIATION") WAS CREATED IN SEPTEMBER 1989 AS A NON-PROFIT LEGAL ENTITY UNDER SDCL CHAPTER 58-29C OF THE SOUTH DAKOTA CODE. THE...

THE SOUTH DAKOTA LIFE & HEALTH INSURANCE GUARANTY ASSOCIATION (THE "ASSOCIATION") WAS CREATED IN SEPTEMBER 1989 AS A NON-PROFIT LEGAL ENTITY UNDER SDCL CHAPTER 58-29C OF THE SOUTH DAKOTA CODE. THE ASSOCIATION PERFORMS ITS FUNCTIONS UNDER A PLAN OF OPERATION ESTABLISHED AND APPROVED UNDER SDCL 58-29C-53 AND EXERCISES ITS POWERS THROUGH A BOARD OF DIRECTORS. THE ASSOCIATION CONSISTS OF MEMBER INSURERS THAT ARE AUTHORIZED TO TRANSACT LIFE, ANNUITY, OR ACCIDENT AND HEALTH INSURANCE IN THE STATE OF SOUTH DAKOTA. ALL MEMBER INSURERS SHALL BE AND REMAIN MEMBERS OF THE ASSOCIATION AS A CONDITION OF THE INSURERS' AUTHORITY TO TRANSACT INSURANCE IN SOUTH DAKOTA. THE ASSOCIATION WAS ESTABLISHED TO PROVIDE BENEFITS TO POLICY OWNERS OF ANNUITY, LIFE, ACCIDENT AND HEALTH, AND SUPPLEMENTAL POLICIES OR CONTRACTS OF IMPAIRED OR INSOLVENT INSURER MEMBERS.

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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 $5,986,157

Investment Income $155,868

Other Revenue $0

TOTAL REVENUE $6,142,025

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $541,185

TOTAL EXPENSES $541,185

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,142,025	$2,821,369	+1.2%
Expenses	$541,185	$501,111	+0.1%
Net Income	$5,600,840	$2,320,258	+1.4%

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

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
ROBERT CORN - MUTUAL OF OMAHA	CHAIRPERSON	2.00	Officer Director	$0	$0	$0
JAMES HARRISON - PRINCIPAL LIFE	VICE CHAIR	1.00	Officer Director	$0	$0	$0
CHRISTA KUENNEN - WELLMARK OF SD	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
ALEX D'AGOSTINO - NEW YORK LIFE	DIRECTOR	1.00	Director	$0	$0	$0
EDWARD DONAHUE - AMER FAMILY LIFE	ASSURANCE CO. OF COLUMBUS DIRECTOR	1.00	Director	$0	$0	$0
PAULA MINELLA - RIVERSOURCE LIFE	DIRECTOR	1.00	Director	$0	$0	$0
ERIC DUPONT - THE GUARDIAN LIFE	DIRECTOR	1.00	Director	$0	$0	$0
JESSICA DEWALD-SEVER - AMER MEMORIA	LIFE INSURANCE CO. DIRECTOR	1.00	Director	$0	$0	$0
CHARLES D GULLICKSON	EXECUTIVE DIRECTOR	17.00	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	$6,142,025	$541,185	$9,139,033	$5,600,840
2023	$2,821,369	$501,111	$3,538,193	$2,320,258
2022	$7,789,068	$7,310,599	$1,217,935	$478,469
2021	$7,515,713	$7,331,459	$739,466	$184,254
2020	$7,676,791	$7,425,911	$555,212	$250,880
2019	$7,683,062	$7,571,869	$304,332	$111,193
2018	$7,064,106	$7,552,810	$193,139	$-488,704

SOUTH DAKOTA LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION