ALABAMA INSURANCE GUARANTY ASSOCIATION (EIN 630810507) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1980

Legal Domicile

Principal Officer

ANDREA LENTINE

Phone

2058234042

Tax Period

2023-01-01 to 2023-12-31

ALABAMA INSURANCE GUARANTY ASSOCIATION, founded in 1980, is a mid-sized nonprofit that reported $17.8M in total revenue in fiscal year 2018. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $17.0M left a modest 5% surplus.

Mission

THE PURPOSE OF THE ASSOCIATION IS TO PROVIDE A MECHANISM FOR THE PAYMENT OF COVERED CLAIMS UNDER CERTAIN INSURANCE POLICIES, TO AVOID EXCESSIVE DELAY IN PAYMENT AND TO AVOID FINANCIAL LOSS TO CLAIMANTS OR POLICYHOLDERS BECAUSE OF THE INSOLVENCY OF AN INSURER, TO ASSIST IN THE DETECTION AND PREVENTION OF INSURER INSOLVENCIES, AND TO PROVIDE AN ASSOCIATION TO ALLOCATE THE COST OF SUCH PROTECTION AMONG INSURERS. THE ASSOCIATION HAS ACTED IN THIS CAPACITY SINCE ITS INCEPTION.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $3,741,502

Other Revenue $2,545,205

TOTAL REVENUE $6,286,707

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,441,301

Fundraising Expenses $0

Other Expenses $7,505,311

TOTAL EXPENSES $8,946,612

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,286,707	$7,260,591	-0.1%
Expenses	$8,946,612	$9,744,695	-0.1%
Net Income	$-2,659,905	$-2,484,104	+0.1%

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

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

$235,228

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALFA BRYAN HUBBARD	DIRECTOR, SEE SCHEDULE O	2.00	Officer Director	$0	$0	$0
NATIONWIDE KIM ADAMS	DIRECTOR, SEE SCHEDULE O	2.00	Officer Director	$0	$0	$0
CHUBB JENNY ANZALONE-ACKLEY	DIRECTOR, SEE SCHEDULE O	1.00	Officer Director	$0	$0	$0
STATE FARM ERIC HARTILL	DIRECTOR, SEE SCHEDULE O	1.00	Director	$0	$0	$0
ALLSTATE MIKE BORYSEK	DIRECTOR, SEE SCHEDULE O	1.00	Director	$0	$0	$0
BERKLEY INDUSTRIAL GREG PIERRE	DIRECTOR, SEE SCHEDULE O	1.00	Director	$0	$0	$0
TRAVELERS DAVID DOVE	DIRECTOR, SEE SCHEDULE O	1.00	Director	$0	$0	$0
NATIONWIDE JACOB SCHMIDT	DIRECTOR, SEE SCHEDULE O	1.00	Director	$0	$0	$0
ANDREA LENTINE	EXECUTIVE DIRECTOR	40.00	Officer	$204,189	$31,039	$235,228
TORREY CRENSHAW	CLAIMS MANAGER	40.00	Highest	$105,377	$31,849	$137,226

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	$6,286,707	$8,946,612	$156,559,261	$-2,659,905
2022	$7,260,591	$9,744,695	$155,685,622	$-2,484,104
2021	$6,611,625	$10,416,705	$168,293,024	$-3,805,080
2020	$19,646,962	$9,698,962	$175,439,181	$9,948,000
2019	$81,416,496	$9,550,674	$164,888,489	$71,865,822
2018	$17,775,217	$16,954,854	$91,768,313	$820,363

ALABAMA INSURANCE GUARANTY ASSOCIATION