New Hampshire Insurance Guaranty Association
New Hampshire Insurance Guaranty Association maintains substantial assets with zero liabilities and no officer compensation amidst volatile revenue.
EIN: 20346955 · Boston, MA · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $34.3M |
| Total Expenses | $1.3M |
| Program Spending | 80% |
| Net Assets | $53.8M |
| Transparency Score | 75/100 |
Is New Hampshire 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 →
New Hampshire Insurance Guaranty Association directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New Hampshire Insurance Guaranty Association
New Hampshire Insurance Guaranty Association (EIN: 20346955) is a nonprofit organization based in Boston, MA. The organization reported total revenue of $34.3M and total assets of $53.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Hampshire Insurance Guaranty Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Hampshire Insurance Guaranty Association is a large nonprofit that has been operating for 44 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -6.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $611K |
| Total Expenses | $1.3M |
| Surplus / Deficit | $-715,682 |
| Total Assets | $53.8M |
| Net Assets | $53.8M |
| Operating Margin | -117.1% |
| Months of Reserves | 486.5 months |
Financial Health Grade: B
In 2023, New Hampshire Insurance Guaranty Association reported a deficit of $716K with expenses exceeding revenue, holds 486.5 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), New Hampshire Insurance Guaranty Association's revenue has declined at a compound annual growth rate (CAGR) of -6.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +612.4% | +3.5% | -1.3% |
| 2022 | -89.0% | +11.5% | -2.1% |
| 2021 | -76.5% | +5.7% | -0.7% |
| 2020 | -64.4% | -91.7% | +4.2% |
| 2019 | +127.5% | +893.9% | -6.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1982 |
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 New Hampshire 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: 20%
- programs: 80%
- fundraising: 0%
According to IRS 990 filings, New Hampshire Insurance Guaranty Association allocates its expenses as follows: admin: 20%, programs: 80%, fundraising: 0%. With 80% 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 deficit of $716K, with expenses exceeding revenue.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or benefits are paid to its officers, which is highly unusual for an organization of its size and asset base.
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 New Hampshire Insurance Guaranty Association's IRS 990 filings:
- 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
The following positive indicators were identified for New Hampshire Insurance Guaranty Association:
- 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)
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) some concerns. Mission Score: 75/100. 3 red flags identified, 4 strengths noted.
How does New Hampshire Insurance Guaranty Association spend its money?
New Hampshire Insurance Guaranty Association directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to New Hampshire Insurance Guaranty Association tax-deductible?
New Hampshire Insurance Guaranty Association is registered as a tax-exempt nonprofit (EIN: 20346955). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is New Hampshire Insurance Guaranty Association located?
New Hampshire Insurance Guaranty Association is headquartered in Boston, Massachusetts and files with the IRS under EIN 20346955.
How many years of IRS 990 filings does New Hampshire Insurance Guaranty Association have?
New Hampshire Insurance Guaranty Association has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $34.3M in total revenue.
How does the New Hampshire Insurance Guaranty Association manage its significant assets?
The organization consistently holds over $50 million in assets, with zero reported liabilities, suggesting a strong focus on maintaining reserves to fulfill its guaranty obligations. The specific investment strategies are not detailed in the provided data.
Why is there no officer compensation reported?
The IRS 990 filings consistently show 0% officer compensation. This could indicate that executive functions are performed by volunteers, by staff whose compensation is categorized differently (e.g., as general administrative expenses), or by employees of a managing entity, rather than directly by the organization itself.
What caused the significant expense spike in 2019?
In 2019, expenses reached $13,147,294, significantly higher than other years. This could be due to a major claim payout or a substantial assessment related to an insurer insolvency, which is a core function of an insurance guaranty association.
How does the organization generate its revenue?
The revenue fluctuates significantly, from $85,808 in 2022 to $9,339,074 in 2019. As an insurance guaranty association, revenue typically comes from assessments on member insurance companies and investment income. The variability suggests reliance on assessments that may not be levied annually or consistently.
Filing History
IRS 990 filing history for New Hampshire Insurance Guaranty Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), New Hampshire Insurance Guaranty Association's revenue has declined by 53.2%, moving from $1.3M to $611K. Total assets increased by 39.7% over the same period, from $38.5M to $53.8M. Total functional expenses fell by 67%, from $4.0M to $1.3M. In its most recent filing year (2023), New Hampshire Insurance Guaranty Association reported a deficit of $716K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $611K | $1.3M | $53.8M | $0 | — | — |
| 2022 | $86K | $1.3M | $54.5M | $0 | — | View 990 |
| 2021 | $781K | $1.1M | $55.7M | $0 | — | View 990 |
| 2020 | $3.3M | $1.1M | $56.1M | $0 | — | View 990 |
| 2019 | $9.3M | $13.1M | $53.8M | $0 | — | View 990 |
| 2018 | $4.1M | $1.3M | $57.6M | $0 | — | View 990 |
| 2017 | $7.2M | $2.1M | $54.9M | $0 | — | View 990 |
| 2016 | $1.4M | $2.0M | $49.8M | $0 | — | View 990 |
| 2015 | $5.7M | $2.0M | $50.3M | $0 | — | View 990 |
| 2014 | $6.3M | $2.1M | $46.5M | $0 | — | View 990 |
| 2013 | $2.9M | $1.9M | $42.4M | $0 | — | View 990 |
| 2012 | $5.7M | $2.6M | $41.6M | $0 | — | View 990 |
| 2011 | $1.3M | $4.0M | $38.5M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $611K, expenses of $1.3M, and assets of $53.8M (revenue +612.4% year-over-year).
- 2022: Revenue of $86K, expenses of $1.3M, and assets of $54.5M (revenue -89.0% year-over-year).
- 2021: Revenue of $781K, expenses of $1.1M, and assets of $55.7M (revenue -76.5% year-over-year).
- 2020: Revenue of $3.3M, expenses of $1.1M, and assets of $56.1M (revenue -64.4% year-over-year).
- 2019: Revenue of $9.3M, expenses of $13.1M, and assets of $53.8M (revenue +127.5% year-over-year).
- 2018: Revenue of $4.1M, expenses of $1.3M, and assets of $57.6M (revenue -42.9% year-over-year).
- 2017: Revenue of $7.2M, expenses of $2.1M, and assets of $54.9M (revenue +400.8% year-over-year).
- 2016: Revenue of $1.4M, expenses of $2.0M, and assets of $49.8M (revenue -75.0% year-over-year).
- 2015: Revenue of $5.7M, expenses of $2.0M, and assets of $50.3M (revenue -8.4% year-over-year).
- 2014: Revenue of $6.3M, expenses of $2.1M, and assets of $46.5M (revenue +114.9% year-over-year).
- 2013: Revenue of $2.9M, expenses of $1.9M, and assets of $42.4M (revenue -48.5% year-over-year).
- 2012: Revenue of $5.7M, expenses of $2.6M, and assets of $41.6M (revenue +333.5% year-over-year).
- 2011: Revenue of $1.3M, expenses of $4.0M, and assets of $38.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Hampshire Insurance Guaranty Association:
Data Sources and Methodology
This transparency report for New Hampshire 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.