DUBLIN, OH
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)WEST VIRGINIA INSURANCE GUARANTY ASSOCIATION, founded in 1976, is a community nonprofit that reported $5.4M in total revenue in fiscal year 2023. Revenue surged 819% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.5M, a strong 83% operating margin.
THE MISSION OF THE WEST VIRGINIA INSURANCE GUARANTY ASSOCIATION IS TO PROVIDE SOME LEVEL OF PROTECTION FOR CERTAIN POLICY HOLDERS AND CLAIMANTS AGAINST THE INSOLVENCY OF THE INSURANCE COMPANY LICENSED TO SELL THOSE TYPES OF POLICIES IN WEST VIRGINIA WHEN THE COMPANY IS PLACED INTO LIQUIDATION.
WEST VIRGINIA INSURANCE GUARANTY ASSOCIATION (WVIGA) IS A NOT-FOR-PROFIT, UNINCORPORATED LEGAL ENTITY. IT PROVIDES A MECHANISM FOR THE PAYMENT OF COVERED CLAIMS, INCLUDING REFUNDS OF UNEARNED...
WEST VIRGINIA INSURANCE GUARANTY ASSOCIATION (WVIGA) IS A NOT-FOR-PROFIT, UNINCORPORATED LEGAL ENTITY. IT PROVIDES A MECHANISM FOR THE PAYMENT OF COVERED CLAIMS, INCLUDING REFUNDS OF UNEARNED PREMIUMS, TO AVOID FINANCIAL LOSS TO WEST VIRGINIA CLAIMANTS OR POLICYHOLDERS BECAUSE OF THE INSOLVENCY OF DIRECT INSURERS(EXCLUDING LIFE, TITLE SURETY, DISABILITY, CREDIT, MORTGAGE GUARANTY AND OCEAN MARINE). INSURANCE COMPANIES ARE MEMBERS OF THE ASSOCIATION IF THEY WRITE INSURANCE COVERED BY THE ASSOCIATION AND IF THEY ARE LICENSED TO WRITE INSURANCE IN WEST VIRGINIA. WHEN AN INSURANCE COMPANY BECOMES INSOLVENT, THE ASSOCIATION ESTIMATES THE AMOUNT OF COVERED CLAIMS OF WEST VIRGINIA CLAIMANTS AND POLICYHOLDERS, AND BASED ON CERTAIN PRESCRIBED PROCEDURES, ASSESSES THE MEMBER INSURANCE COMPANIES FOR THEIR PORTION OF SUCH COVERED LOSSES. A SEPARATE FUND IS MAINTAINED FOR EACH INSOLVENCY AND RECEIPTS AND DISBURSEMENTS ALLOCABLE TO A SPECIFIC INSOLVENCY ARE ACCOUNTED FOR IN THAT FUND.
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)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $5,420,382 | $589,752 | +8.2% |
| Expenses | $927,845 | $1,206,179 | -0.2% |
| Net Income | $4,492,537 | $-616,427 | -8.3% |
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 |
|---|---|---|---|---|---|---|
| JEFFREY S GILLENTINE | CHAIRMAN | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| WILLIAM MCGEE JR ESQ | SECRETARY/TREASURER | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| R LINDSEY MCCUTCHAN | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| DAMIEN JOSEFIAK | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| LAURA E HAYES | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| KIRK H LARSEN | VICE CHAIR | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| JULIAN F ARBUCKLE | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| FOSTER L SIRBURGH JR | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| SONNI PETERSON | PRESIDENT | 16.00 |
Officer
|
$0 | $25,630 | $265,612 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $5,420,382 | $927,845 | $18,590,879 | $4,492,537 |
| 2022 | $589,752 | $1,206,179 | $14,081,861 | $-616,427 |
| 2021 | $1,152,293 | $1,166,352 | $15,082,769 | $-14,059 |
| 2020 | $4,067,891 | $1,094,182 | $15,004,512 | $2,973,709 |
| 2019 | $862,335 | $1,213,180 | $11,925,734 | $-350,845 |
| 2018 | $3,495,721 | $933,152 | $12,238,766 | $2,562,569 |
Compare WEST VIRGINIA INSURANCE GUARANTY ASSOCIATION with other nonprofits in Ohio and across the country.