Georgia Life & Health Insurance Guaranty Association (EIN 581737531) - 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

1981

Legal Domicile

Principal Officer

Frank Knighton Jr

Phone

7706219835

Tax Period

2024-01-01 to 2024-12-31

Georgia Life & Health Insurance Guaranty Association, founded in 1981, is a community nonprofit that reported $3.0M in total revenue in fiscal year 2024. Revenue fell 64% from the prior year — a significant decline worth monitoring. Expenses of $13.5M exceeded revenue, resulting in a 347% operating deficit.

Mission

Association was established to provide certain protections to policyholders of insolvent insurers in accordance with OCGA 33-38-1 ET SEQ.

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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 $1,123,105

Investment Income $1,888,129

Other Revenue $0

TOTAL REVENUE $3,011,234

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $705,179

TOTAL EXPENSES $13,453,320

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,011,234	$8,427,614	-0.6%
Expenses	$13,453,320	$3,118,415	+3.3%
Net Income	$-10,442,086	$5,309,199	-3.0%

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
D Harley Yancey IV	Chairman	0.10	Officer Director	$0	$0	$0
Ted Kennedy	Vice Chairman	0.10	Officer Director	$0	$0	$0
Eugene Choate	Secretary/Treasurer	0.10	Officer Director	$0	$0	$0
Raymond Waugh	Director	0.10	Director	$0	$0	$0
Norah B Jones	Director	0.10	Director	$0	$0	$0
Steve Beaver	Director	0.10	Director	$0	$0	$0
Kirkland McGhee	Director	0.10	Director	$0	$0	$0
Nick DeJong	Director	0.10	Director	$0	$0	$0
Gary Henning	Director	0.10	Director	$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	$3,011,234	$13,453,320	$94,646,344	$-10,442,086
2023	$8,427,614	$3,118,415	$105,088,430	$5,309,199
2022	$2,442,191	$1,538,053	$99,779,231	$904,138
2021	$2,500,219	$1,560,842	$98,875,093	$939,377
2020	$1,977,941	$1,731,920	$97,935,716	$246,021
2019	$1,980,690	$1,798,679	$97,689,695	$182,011
2018	$3,384,384	$49,096,614	$97,507,684	$-45,712,230

Georgia Life & Health Insurance Guaranty Association