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EIN 41-6140766

Minnesota Insurance Guaranty Association

IRS 501(c) type
501(c)(6)
Num. employees
6
City
Edina
State
Minnesota
Year formed
1971
Most recent tax filings
2022-12-01
NTEE code, primary
Y20: Insurance Providers, Services
Description
The Minnesota Insurance Guaranty Association is a nonprofit, unincorporated legal entity located in Edina, MN with the mission to provide a method of payment for certain claims against insolvent insurance companies.
Total revenues
$7,219,133
2022
Total expenses
$10,507,373
2022
Total assets
$184,125,017
2022
Num. employees
6
2022

Program areas at Minnesota Insurance Guaranty Association

Minnesota Insurance Guaranty Association (the Association) was organized on november 24, 1971, by state statute as a nonprofit, unincorporated legal entity. The purpose of the Association is to provide a method of payment for certain claims against insolvent Insurance companies, to avoid financial loss to claimants or to policyholders, to assist in the detection and prevention of insurer insolvencies, and to provide an Association of insurers against which the cost of such protection may be assessed in an equitable manner.

Personnel at Minnesota Insurance Guaranty Association

NameTitleCompensation
Robert A FarberExecutive Director$158,986
Michael F McGovernChair$0
Kathleen BrayVice Chair$0
Paul SteffenPast Executive Director$128,365
Lee SmiertelnySecretary and Treasurer$0

Financials for Minnesota Insurance Guaranty Association

RevenuesFYE 12/2022
Total grants, contributions, etc.$0
Program services$1,449,823
Investment income and dividends$5,769,310
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$7,219,133

Form 990s for Minnesota Insurance Guaranty Association

Fiscal year endingDate received by IRSFormPDF link
2022-122023-08-28990View PDF
2021-122022-11-15990View PDF
2020-122021-11-15990View PDF
2019-122021-06-24990View PDF
2018-122020-01-31990View PDF
...and 9 more Form 990s
Data update history
November 9, 2023
Posted financials
Added Form 990 for fiscal year 2022
November 9, 2023
Updated personnel
Identified 2 new personnel
October 26, 2023
Used new vendors
Identified 4 new vendors, including , , , and
July 18, 2023
Posted financials
Added Form 990 for fiscal year 2021
June 29, 2023
Posted financials
Added Form 990 for fiscal year 2020
Nonprofit Types
Mutual assistance organizationsInsurance companies
Issues
No issues found
Characteristics
State / local level
General information
Address
7600 Parklawn Ave 329
Edina, MN 55435
Metro area
Minneapolis-St. Paul-Bloomington, MN-WI
Website URL
minnesota.ncigf.org/ 
Phone
(952) 831-1908
IRS details
EIN
41-6140766
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1971
Eligible to receive tax-deductible contributions (Pub 78)
No
Categorization
NTEE code, primary
Y20: Insurance Providers, Services
NAICS code, primary
52411: Direct Life, Health, and Medical Insurance Carriers
Parent/child status
Independent
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