Is New Hampshire Insurance Guaranty Association Legit?
Quick charity verification for New Hampshire Insurance Guaranty Association (EIN: 20346955)
Verdict: New Hampshire Insurance Guaranty Association appears trustworthy
75/100Mission Score
$34.3MRevenue
$53.4MAssets
3Red Flags
4Strengths
Red Flags
Lack of detailed expense breakdown to assess program efficiency
Highly volatile revenue and expense figures without clear explanation in provided data
NTEE Code is unknown, hindering classification and comparative analysis
Strengths
Consistently reports zero liabilities, indicating strong financial solvency
Reports 0% officer compensation, suggesting low overhead in executive pay
Maintains substantial assets (over $50 million) to fulfill its mission
Strong asset-to-liability ratio (infinite, due to zero liabilities)
Spending Breakdown
How New Hampshire Insurance Guaranty Association allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
20%
Admin Costs
Reasonable — admin costs in check
0%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about New Hampshire Insurance Guaranty Association
Is New Hampshire Insurance Guaranty Association a legitimate charity?
Based on AI analysis of IRS 990 filings, New Hampshire Insurance Guaranty Association (EIN: 20346955) appears trustworthy. Mission Score: 75/100. 3 red flags identified, 4 strengths noted.
Is New Hampshire Insurance Guaranty Association a good charity to donate to?
New Hampshire Insurance Guaranty Association has a Mission Score of 75/100. Revenue: $34.3M. Assets: $53.4M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for New Hampshire Insurance Guaranty Association?
The Employer Identification Number (EIN) for New Hampshire Insurance Guaranty Association is 20346955. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does New Hampshire Insurance Guaranty Association spend its money?
New Hampshire Insurance Guaranty Association allocates 80% to programs, 20% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify New Hampshire Insurance Guaranty Association's tax-exempt status?
You can verify New Hampshire Insurance Guaranty Association's tax-exempt status using EIN 20346955 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
The New Hampshire Insurance Guaranty Association exhibits a unique financial profile, operating with significant assets but fluctuating revenue and expenses. Over the past five years, revenue has varied wildly, from a high of $9,339,074 in 2019 to a low of $85,808 in 2022. Expenses have generally been much lower than revenue in most years, with the notable exception of 2019 where expenses of $13,147,294 significantly exceeded revenue. The organization consistently reports zero liabilities and zero officer compensation, which suggests a lean operational structure and strong financial solvency in terms of debt. However, the lack of detailed expense breakdowns in the provided data makes a precise assessment of spending efficiency challenging.
The organization's financial health appears stable given its substantial assets, consistently above $50 million in recent years, and zero liabilities. The primary function of an insurance guaranty association is to protect policyholders in the event of an insurer's insolvency, which often involves holding significant reserves. The absence of officer compensation and liabilities points to a fiscally conservative approach. However, without a breakdown of program, administrative, and fundraising expenses, it's difficult to fully evaluate how efficiently funds are being utilized towards its mission. The wide swings in revenue and expenses could be indicative of the nature of its operations, which may involve large, infrequent payouts or assessments.