WEST VIRGINIA INSURANCE GUARANTY ASSOCIATION (EIN 510138344) - 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

1976

Legal Domicile

Principal Officer

SONNI PETERSON

Phone

6144426601

Tax Period

2023-01-01 to 2023-12-31

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.

Mission

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.

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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 $4,892,193

Investment Income $528,189

Other Revenue $0

TOTAL REVENUE $5,420,382

Expense Breakdown

Grants Paid $0

Salaries & Benefits $169,935

Fundraising Expenses $0

Other Expenses $757,910

TOTAL EXPENSES $927,845

Year-over-Year Comparison

	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%

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

$265,612

Total Directors

Key Employees

Highest Compensated

reported

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

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	$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

WEST VIRGINIA INSURANCE GUARANTY ASSOCIATION