OKLAHOMA LIFE & HEALTH INSURANCE G… - Form 990 Financial Data

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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

1982

Legal Domicile

Principal Officer

GARY R PETERSON

Phone

4052729221

Tax Period

2023-01-01 to 2023-12-31

OKLAHOMA LIFE & HEALTH INSURANCE GUARANTY ASSOCIATION, founded in 1982, is a small nonprofit that reported $977K in total revenue in fiscal year 2023. Revenue fell 70% from the prior year — a significant decline worth monitoring. Net assets of $10.2M represent 125 months of operating reserves.

Mission

TO PROTECT POLICY HOLDERS, BENEFICIARIES, PAYEES, AND ASSIGNEES OF INSURANCE POLICIES AGAINST THE NONPERFORMANCE OF A MEMBER INSURER'S CONTRACTUAL OBLIGATIONS DUE TO IMPAIRMENT OR INSOLVENCY.

Program Service Accomplishments

Program 1

Expenses: $915,228 Revenue: $917,077

TO PROTECT POLICY HOLDERS, BENEFICIARIES, PAYEES, AND ASSIGNEES OF LIFE INSURANCE POLICIES, HEALTH INSURANCE POLICIES, ANNUITY CONTRACTS AND SUPPLEMENTAL CONTRACTS SUBJECT TO CERTAIN LIMITATIONS...

TO PROTECT POLICY HOLDERS, BENEFICIARIES, PAYEES, AND ASSIGNEES OF LIFE INSURANCE POLICIES, HEALTH INSURANCE POLICIES, ANNUITY CONTRACTS AND SUPPLEMENTAL CONTRACTS SUBJECT TO CERTAIN LIMITATIONS AGAINST FAILURE IN THE PERFORMANCE OF OBLIGATIONS DUE TO THE IMPAIRMENT OR INSOLVENCY OF THE ISSUER OF POLICIES. (PURSUANT TO TITLE 36 OF THE OKLAHOMA STATUTES SECTION 2021-2043)

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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 $917,077

Investment Income $60,249

Other Revenue $0

TOTAL REVENUE $977,326

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $915,228

Other Expenses $953,343

TOTAL EXPENSES $953,343

Year-over-Year Comparison

	2023	2022	Change
Revenue	$977,326	$3,222,942	-0.7%
Expenses	$953,343	$704,594	+0.4%
Net Income	$23,983	$2,518,348	-1.0%

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
GARY R PETERSON	CHAIRMAN	1.00	Officer Director	$0	$0	$0
CHRIS T KENNEY	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
BRIAN MITCHELL	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
DARANELL JORDAN	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT M DORRELL	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT SNIDER	DIRECTOR	1.00	Director	$0	$0	$0
HARLEY YANCEY IV	DIRECTOR	1.00	Director	$0	$0	$0
BRENT HAGGARD	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL B HICKEY ESQ	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW G HILL	DIRECTOR	1.00	Director	$0	$0	$0
JAMES W RHODES ESQ	EXECUTIVE VICE PRESIDENT/G	1.00	Officer	$0	$0	$0
SHARI J MOUNCE	ASSISTANT ADMIN/SECRETARY	1.00	Officer	$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	No data	No data	No data	No data
2023	$977,326	$953,343	$10,163,458	$23,983
2022	$3,222,942	$704,594	$10,139,475	$2,518,348
2021	$3,833,823	$704,173	$7,621,127	$3,129,650
2020	$118,069	$763,273	$4,491,477	$-645,204
2019	$1,594,685	$1,935,380	$5,136,681	$-340,695
2018	$580,412	$4,884,176	$5,477,376	$-4,303,764

OKLAHOMA LIFE & HEALTH INSURANCE GUARANTY ASSOCIATION