TEXAS PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION

EIN: 741956695

AUSTIN, TX

Total Revenue
$94,063,696
Total Expenses
$62,618,047
Total Assets
$546,786,939
Net Assets
$237,487,500
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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
1971
Legal Domicile
TX
Principal Officer
MARK TSUTSUI
Phone
5123459335
Tax Period
2024-01-01 to 2024-12-31

TEXAS PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION, founded in 1971, is a mid-sized nonprofit that reported $94.1M in total revenue in fiscal year 2024. Revenue fell 43% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $31.4M, a strong 33% operating margin.

Mission

We are an insurance safety net and partner in the insolvency system, fairly and promptly serving the people of Texas.

Program Service Accomplishments

Program 1
Expenses: $54,938,938 Revenue: $77,082,069

Payment of covered claims of Texas policyholders.

Program 2

We are an insurance safety net and partner in the insolvency system, fairly and promptly serving the people of Texas.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $77,082,069
Investment Income $16,981,627
Other Revenue $0
TOTAL REVENUE $94,063,696

Expense Breakdown

Grants Paid $0
Salaries & Benefits $5,347,891
Fundraising Expenses $0
Program Expenses $54,938,938
Other Expenses $57,270,156
TOTAL EXPENSES $62,618,047

Year-over-Year Comparison

2024 2023 Change
Revenue $94,063,696 $163,821,338 -0.4%
Expenses $62,618,047 $110,921,520 -0.4%
Net Income $31,445,649 $52,899,818 -0.4%
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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
7
Employees
47
Volunteers
7

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
2
$333,721
Total Directors
7
$0
Key Employees
4
$702,194
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
John J D'Amato Chief Financial Officer 40
Key Emp
$255,651 $0 $255,651
Gary Vieira Director of Information Technology 40
Key Emp
$214,405 $0 $214,405
Annette Evans Claims Director 40
Key Emp
$208,075 $0 $208,075
Amber Walker Claims Attorney 40
Highest
$186,992 $0 $186,992
Makoto Tsutsui Executive Director 40
Officer
$181,357 $0 $181,357
David W Nardecchia Executive Director 40
Officer
$152,364 $0 $152,364
Thathiana Bermudez HR Director 40
Highest
$137,439 $0 $137,439
Adnan Yasin IT Director 40
Key Emp
$24,063 $0 $24,063
Ty Collin Simmons Board Chair 1
Director
$0 $0 $0
Michael F Gerik Vice Chair 1
Director
$0 $0 $0
Levi Steve Holt Board Member 1
Director
$0 $0 $0
Norma Garcia Board member 1
Director
$0 $0 $0
Angela Doss Board Member 1
Director
$0 $0 $0
Chris Merideth Board Member 1
Director
$0 $0 $0
Karen Phillips Board Member 1
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 $94,063,696 $62,618,047 $546,786,939 $31,445,649
2023 $163,821,338 $110,921,520 $517,988,699 $52,899,818
2022 $112,788,856 $84,237,559 $464,302,453 $28,551,297
2021 $73,403,567 $152,009,501 $528,394,738 $-78,605,934
2020 $21,639,787 $24,991,542 $516,175,428 $-3,351,755
2019 $62,109,274 $27,385,645 $499,052,388 $34,723,629
2018 $27,906,236 $36,364,341 $418,761,913 $-8,458,105
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