MISSISSIPPI LIFE & HEALTH INSURANCE GUARANTY ASSOCIATION

EIN: 587149036

JACKSON, MS

Total Revenue
$2,991,941
Total Expenses
$1,900,606
Total Assets
$35,010,290
Net Assets
$35,010,290
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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
1985
Legal Domicile
MS
Principal Officer
BRYAN LAGG
Phone
6019813471
Tax Period
2023-01-01 to 2023-12-31

MISSISSIPPI LIFE & HEALTH INSURANCE GUARANTY ASSOCIATION, founded in 1985, is a community nonprofit that reported $3.0M in total revenue in fiscal year 2023. Revenue surged 36% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.1M, a strong 36% operating margin.

Mission

THE ORGANIZATION IS A NONPROFIT ENTITY ORGANIZED TO PROTECT POLICYHOLDERS, BENEFICIARIES, ANNUITANTS, PAYEES AND ASSIGNEES OF LIFE INSURANCE POLICIES, HEALTH INSURANCE POLICIES, IMMEDIATE OR DEFERRED ANNUITY CONTRACTS AND SUPPLEMENTAL CONTRACTS AGAINST FAILURE IN THE PERFORMANCE OF CONTRACTUAL OBLIGATIONS DUE TO THE IMPAIRMENT OR INSOLVENCY OF A MEMBER INSURER ISSUING SUCH POLICIES OR CONTRACTS.

Program Service Accomplishments

Program 1

THE ASSOCIATION PROTECTS POLICYHOLDERS, BENEFICIARIES, ANNUITANTS, ETC. AGAINST FAILURE IN THE PERFORMANCE OF CONTRACTUAL OBLIGATIONS OF AN INSOLVENT MEMBER INSURER.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $2,129,261
Investment Income $862,380
Other Revenue $300
TOTAL REVENUE $2,991,941

Expense Breakdown

Grants Paid $0
Salaries & Benefits $258,380
Fundraising Expenses $0
Other Expenses $527,165
TOTAL EXPENSES $1,900,606

Year-over-Year Comparison

2023 2022 Change
Revenue $2,991,941 $2,194,755 +0.4%
Expenses $1,900,606 $1,283,167 +0.5%
Net Income $1,091,335 $911,588 +0.2%
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

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Governance

Voting Members
7
Independent Members
7
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
3
$257,341
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BCBS OF MS - BRYAN LAGG CHAIRMAN 2.00
Officer Director
$0 $0 $0
AM BNKRS LF - CHARLES SHAMBURGER SECRETARY/TREASURER 0.50
Officer Director
$0 $0 $0
STHN FRM BUR LF - JEFFERY STYRES DIRECTOR 0.50
Director
$0 $0 $0
AM CONT INS - MICHAEL COLLIFLOWER DIRECTOR 0.50
Director
$0 $0 $0
PRUDENTIAL INSURANCE - KYLE SMITH DIRECTOR 0.50
Director
$0 $0 $0
AMERICAN GENERAL - SEEMA TANEJA DIRECTOR 0.50
Director
$0 $0 $0
AMBETTER OF MAGNOLIA - AARON SISK DIRECTOR 0.50
Director
$0 $0 $0
GORDON B HAYDEL EXECUTIVE DIRECTOR 40.00
Officer
$252,328 $5,013 $257,341
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 $2,991,941 $1,900,606 $35,010,290 $1,091,335
2022 $2,194,755 $1,283,167 $33,918,955 $911,588
2021 $1,692,715 $2,175,344 $33,007,367 $-482,629
2020 $5,956,221 $1,852,346 $33,489,996 $4,103,875
2019 $6,319,281 $953,016 $29,386,121 $5,366,265
2018 $2,473,893 $613,746 $24,019,856 $1,860,147
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