WASHINGTON LIFE & DISABILITY INSURANCE GUARANTY ASSOCIATION

EIN: 916159504

SHELTON, WA

Total Revenue
$10,419,474
Total Expenses
$10,620,900
Total Assets
$16,958,419
Net Assets
$16,930,824
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1975
Legal Domicile
WA
Principal Officer
MICHAEL N O'DAY
Phone
3604266744
Tax Period
2023-01-01 to 2023-12-31

WASHINGTON LIFE & DISABILITY INSURANCE GUARANTY ASSOCIATION, founded in 1975, is a mid-sized nonprofit that reported $10.4M in total revenue in fiscal year 2023.

Mission

THE WASHINGTON LIFE AND DISABILITY INSURANCE GUARANTY ASSOCIATION WAS ESTABLISHED TO PROVIDE CERTAIN PROTECTIONS TO POLICYHOLDERS OF IMPAIRED OR INSOLVENT INSURERS IN ACCORDANCE WITH CHAPTER 48.32A OF THE REVISED CODE OF WASHINGTON.

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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 $10,032,399
Investment Income $387,075
Other Revenue $0
TOTAL REVENUE $10,419,474

Expense Breakdown

Grants Paid $0
Salaries & Benefits $174,972
Fundraising Expenses $0
Other Expenses $10,445,928
TOTAL EXPENSES $10,620,900

Year-over-Year Comparison

2023 2022 Change
Revenue $10,419,474 $10,178,767 +0.0%
Expenses $10,620,900 $10,628,067 0.0%
Net Income $-201,426 $-449,300 -0.6%
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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Governance

Voting Members
10
Independent Members
10
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
5
$174,972
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL N O'DAY EXECUTIVE DIRECTOR 25.00
Officer
$174,972 $0 $174,972
N/A CHARA BRADSTREET, REP./ VICE-CHAIR 0.00
Officer
$0 $0 $0
N/A JANE DOUTHIT, REP 0.00
$0 $0 $0
N/A JOHN HAWORTH, REP. 0.00
$0 $0 $0
N/A CHARLOTTE SANDERS, REP. 0.00
$0 $0 $0
N/A JEFFREY TINDALL, REP. 0.00
$0 $0 $0
N/A TINA DE JONG, REP. 0.00
Officer
$0 $0 $0
N/A CHRISTINE GALAMB, REP. 0.00
$0 $0 $0
N/A JOY HIGA, REP. 0.00
$0 $0 $0
N/A ELIZABETH SLOAN, CHAIR 0.00
Officer
$0 $0 $0
N/A SCOTT WILKINSON, REP./ SEC 0.00
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 $10,419,474 $10,620,900 $16,958,419 $-201,426
2022 $10,178,767 $10,628,067 $17,170,547 $-449,300
2021 $10,170,457 $10,657,316 $17,623,213 $-486,859
2020 $10,404,082 $10,843,579 $18,128,157 $-439,497
2019 $10,550,527 $12,231,753 $18,557,738 $-1,681,226
2018 $10,527,649 $5,844,429 $20,301,905 $4,683,220
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