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EIN 41-1333903

Minnesota Life and Health Insurance Guaranty Association

IRS 501(c) type
501(c)(6)
Num. employees
0
City
Minneapolis
State
Minnesota
Year formed
1977
Most recent tax filings
2023-12-01
NTEE code, primary
Y20: Insurance Providers, Services
Description
The Minnesota Life and Health Insurance Guaranty Association protects resident policyholders when they need it the most, especially during insurance company insolvencies. It serves policyowners, beneficiaries, and annuitants by taking over the servicing of life and health insurance policies and individual annuities when a member insurer faces liquidation. The association ensures that its operations comply with Minnesota statutes while fulfilling its mission to safeguard individuals against failures in contractual obligations.
Total revenues
$618,123
2023
Total expenses
$361,098
2023
Total assets
$16,370,798
2023
Num. employees
0
2023

Program areas at Minnesota Life and Health Insurance Guaranty Association

The Association's purpose is to protect policy owners, death benefit certificate holders, insureds, beneficiaries, annuitants, payees and assignees of Life and Health Insurance policies and annuity and supplemental contracts against failure in the performance of contractual obligations due to the impairment of an insurer authorized to transact business in Minnesota. The protection is subject to certain limits and conditions set forth in Minnesota statutes. The Association assesses its member insurers, subject to certain limitations, to obtain the funds necessary to carry out its purpose and duties.

Personnel at Minnesota Life and Health Insurance Guaranty Association

NameTitleCompensation
Pamela OlsenExecutive Director$129,647
Elizabeth ByrneChair and Director$0
Andie ChristophersonSecretary and Treasurer and Director$0
Andrea ChristophersonSecretary and Treasurer$0
Gerald C BackhausPast Former Executive Director$59,500
...and 5 more key personnel

Financials for Minnesota Life and Health Insurance Guaranty Association

RevenuesFYE 12/2023
Total grants, contributions, etc.$0
Program services$287,977
Investment income and dividends$328,386
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$1,760
Total revenues$618,123

Form 990s for Minnesota Life and Health Insurance Guaranty Association

Fiscal year endingDate received by IRSFormPDF link
2023-122024-04-03990View PDF
2022-122023-04-06990View PDF
2021-122022-05-06990View PDF
2020-122021-05-02990View PDF
2019-122020-08-21990View PDF
...and 9 more Form 990s
Data update history
May 24, 2024
Posted financials
Added Form 990 for fiscal year 2023
May 20, 2024
Updated personnel
Identified 3 new personnel
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
June 15, 2023
Posted financials
Added Form 990 for fiscal year 2022
June 9, 2023
Used new vendors
Identified 1 new vendor, including
Nonprofit Types
Mutual assistance organizationsInsurance companies
Issues
Health
Characteristics
State / local levelNo full-time employees
General information
Address
225 S 6th St 2900
Minneapolis, MN 55402
Metro area
Minneapolis-St. Paul-Bloomington, MN-WI
County
Hennepin County, MN
Website URL
mnlifega.org/ 
Phone
(612) 322-8713
IRS details
EIN
41-1333903
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1977
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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