HAMPDEN, MA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)VIRGINIA LIFE ACCIDENT AND SICKNESS INSURANCE GUARANTY ASSOCIATION, founded in 1976, is a mid-sized nonprofit that reported $43.1M in total revenue in fiscal year 2018. Revenue fell 62% from the prior year — a significant decline worth monitoring. Expenses of $37.9M left a modest 12% surplus.
PRIMARY EXEMPT PURPOSE: THE ASSOCIATION IS A VIRGINIA STATUTORY ASSOCIATION FORMED PURSUANT TO CHAPTER 17 OF TITLE 38.2 OF THE CODE OF VIRGINIA TO PAY OBLIGATIONS OF INSOLVENT INSURANCE COMPANIES UNDER THE SUPERVISION OF THE VIRGINIA STATE CORPORATION COMMISSION. "MEMBER INSURER" MEANS AN INSURER OR HEALTH MAINTENANCE ORGANIZATION LICENSED TO TRANSACT IN THE COMMONWEALTH ANY CLASS OF INSURANCE OR HEALTH MAINTENANCE ORGANIZATION BUSINESS TO WHICH THIS CHAPTER 17 APPLIES UNDER SECTION 38.2-1700, BUT DOES NOT INCLUDE COOPERATIVE NONPROFIT LIFE BENEFIT COMPANIES, MUTUAL ASSESSMENT LIFE, ACCIDENT AND SICKNESS INSURANCE COMPANIES, BURIAL SOCIETIES, FRATERNAL BENEFIT SOCIETIES, DENTAL AND OPTOMETRIC SERVICES PLANS, AND HEALTH SERVICES PLANS NOT SUBJECT TO THIS CHAPTER 17 PURSUANT TO SECTION 38.2-4213. CHAPTER 17 ALSO APPLIES TO DENTAL BENEFIT CONTRACTS ENTERED INTO WITH A DENTAL PLAN ORGANIZATION AS PROVIDED IN CHAPTER 61. WITH RESPECT TO CONTRACTS ISSUED BY INSURERS LICENSED TO TRANSACT BUSI
Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2025 | 2024 | Change | |
|---|---|---|---|
| Revenue | $19,075,748 | $20,749,086 | -0.1% |
| Expenses | $4,751,409 | $22,907,038 | -0.8% |
| Net Income | $14,324,339 | $-2,157,952 | -7.6% |
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 |
|---|---|---|---|---|---|---|
| NEW YORK LIFE INSURANCE COMPANY | CHAIR | 2.00 |
|
$0 | $0 | $0 |
| TEACHERS INSURANCE AND ANNUITY | SECRETARY | 2.00 |
|
$0 | $0 | $0 |
| UNITEDHEALTHCARE INSURANCE CO | TREASURER | 2.00 |
|
$0 | $0 | $0 |
| ANTHEM HEALTH PLANS OF VA | DIRECTOR | 1.00 |
|
$0 | $0 | $0 |
| BRIGHTHOUSE LIFE INSURANCE CO | DIRECTOR | 1.00 |
|
$0 | $0 | $0 |
| COVENTRY HEALTH CARE OF VA INC | DIRECTOR | 1.00 |
|
$0 | $0 | $0 |
| GENWORTH LIFE ANNUITY INS CO | DIRECTOR | 1.00 |
|
$0 | $0 | $0 |
| KAISER FOUNDATION HEALTH PLAN | DIRECTOR | 1.00 |
|
$0 | $0 | $0 |
| LINCOLN NATIONAL LIFE INSURANCE CO | DIRECTOR | 1.00 |
|
$0 | $0 | $0 |
| METROPOLITAN LIFE INSURANCE CO | DIRECTOR | 1.00 |
|
$0 | $0 | $0 |
| SETTLERS LIFE INSURANCE COMPANY | DIRECTOR | 1.00 |
|
$0 | $0 | $0 |
| SHENANDOAH LIFE INSURANCE COMPANY | DIRECTOR | 1.00 |
|
$0 | $0 | $0 |
| VOYA RETIREMENT INSURANCE | DIRECTOR | 1.00 |
|
$0 | $0 | $0 |
| DENNIS S HERCHEL | EXEC. DIRECT | 30.00 |
Officer
|
$0 | $0 | $0 |
| MARY Y SISSON | CHIEF ACCOUN | 30.00 |
Officer
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | $19,075,748 | $4,751,409 | $23,336,183 | $14,324,339 |
| 2024 | $20,749,086 | $22,907,038 | $9,011,844 | $-2,157,952 |
| 2023 | $10,302,133 | $1,774,120 | $11,169,796 | $8,528,013 |
| 2022 | $1,548,889 | $9,595,130 | $2,641,783 | $-8,046,241 |
| 2021 | $9,945,534 | $4,556,689 | $10,714,403 | $5,388,845 |
| 2020 | $1,352,194 | $14,558,330 | $5,299,179 | $-13,206,136 |
| 2019 | $14,658,063 | $29,154,782 | $18,505,315 | $-14,496,719 |
| 2018 | $43,084,125 | $37,947,105 | $33,002,034 | $5,137,020 |
Compare VIRGINIA LIFE ACCIDENT AND SICKNESS INSURANCE GUARANTY ASSOCIATION with other nonprofits in Virginia and across the country.