Massachusetts Life And Health Insurance Guaranty Association

Is Massachusetts Life And Health Insurance Guaranty Association Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Massachusetts Life And Health Insurance Guaranty Association directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Massachusetts Life And Health Insurance Guaranty Association

Massachusetts Life And Health Insurance Guaranty Association (EIN: 222994116) is a nonprofit organization based in Springfield, MA, classified under NTEE code Y20Z. The organization reported total revenue of $120.7M and total assets of $138.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Massachusetts Life And Health Insurance Guaranty Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Massachusetts Life And Health Insurance Guaranty Association is a major nonprofit, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 26.8%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2023, Massachusetts Life And Health Insurance Guaranty Association reported a surplus of $14.5M with revenue exceeding expenses, holds 478.3 months of operating reserves (strong position), has a debt-to-asset ratio of 0.9% (very low leverage).

Financial Trends

Over 13 years of filings (2011–2023), Massachusetts Life And Health Insurance Guaranty Association's revenue has grown at a compound annual growth rate (CAGR) of 26.8%.

IRS Tax-Exempt Classification

Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.

AI Transparency Report

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Massachusetts Life And Health Insurance Guaranty Association with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

• admin: 5%
• programs: 90%
• fundraising: 5%

According to IRS 990 filings, Massachusetts Life And Health Insurance Guaranty Association allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

• The organization reported a surplus of $14.5M, with revenue exceeding expenses.
• Debt-to-asset ratio: 0.9%.

Executive Compensation Analysis

Executive compensation is consistently reported as $0 across all available filings, which is highly unusual for an organization managing assets of $18,372,444 in 2023 and suggests a volunteer-led or externally managed operational model.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Massachusetts Life And Health Insurance Guaranty Association's IRS 990 filings:

• The sudden and massive increase in revenue from $38,283 in 2022 to $15,001,926 in 2023 without a corresponding increase in expenses or assets raises questions about the nature of these funds.
• Consistent reporting of $0 for compensation across all years, despite significant revenue and assets, could indicate that compensation is being paid through an undisclosed related entity or that the organization is entirely volunteer-run at the executive level.
• The 'x' value (expenses) of $460,952 in 2023 is disproportionately low compared to the $15,001,926 revenue, suggesting that most of the revenue is not being spent on operational activities or programs in the same year.

Strengths

The following positive indicators were identified for Massachusetts Life And Health Insurance Guaranty Association:

• The organization maintains a strong asset base, with assets growing from $3,778,679 in 2022 to $18,372,444 in 2023, indicating financial stability.
• The consistent reporting of $0 in compensation could be a strength if it genuinely reflects a highly efficient, volunteer-driven model, maximizing resources for its mission.

Frequently Asked Questions about Massachusetts Life And Health Insurance Guaranty Association

Filing History

IRS 990 filing history for Massachusetts Life And Health Insurance Guaranty Association showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Massachusetts Life And Health Insurance Guaranty Association's revenue has grown by 1622.8%, moving from $871K to $15.0M. Total assets increased by 386.7% over the same period, from $3.8M to $18.4M. Total functional expenses fell by 72.6%, from $1.7M to $461K. In its most recent filing year (2023), Massachusetts Life And Health Insurance Guaranty Association reported a surplus of $14.5M, with revenue exceeding expenses. The organization holds $171K in liabilities against $18.4M in assets (debt-to-asset ratio: 0.9%), resulting in net assets of $18.2M.

Year-by-Year Financial Summary

• 2023: Revenue of $15.0M, expenses of $461K, and assets of $18.4M (revenue +39086.9% year-over-year).
• 2022: Revenue of $38K, expenses of $402K, and assets of $3.8M (revenue -94.9% year-over-year).
• 2021: Revenue of $750K, expenses of $355K, and assets of $4.1M (revenue +1180.8% year-over-year).
• 2020: Revenue of $59K, expenses of $390K, and assets of $3.7M (revenue -91.3% year-over-year).
• 2019: Revenue of $671K, expenses of $357K, and assets of $4.1M (revenue +10.2% year-over-year).
• 2018: Revenue of $609K, expenses of $310K, and assets of $3.8M (revenue -81.7% year-over-year).
• 2017: Revenue of $3.3M, expenses of $2.9M, and assets of $4.2M (revenue +713.4% year-over-year).
• 2016: Revenue of $409K, expenses of $313K, and assets of $2.9M (revenue -8.9% year-over-year).
• 2015: Revenue of $449K, expenses of $300K, and assets of $2.8M (revenue +112.9% year-over-year).
• 2014: Revenue of $211K, expenses of $315K, and assets of $2.7M (revenue -98.1% year-over-year).
• 2013: Revenue of $11.0M, expenses of $13.7M, and assets of $2.8M (revenue +228.9% year-over-year).
• 2012: Revenue of $3.4M, expenses of $1.7M, and assets of $5.5M (revenue +285.8% year-over-year).
• 2011: Revenue of $871K, expenses of $1.7M, and assets of $3.8M.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Massachusetts Life And Health Insurance Guaranty Association:

Data Sources and Methodology

This transparency report for Massachusetts Life And Health Insurance Guaranty Association is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.