Civic Intelligence

Montana Insurance Guaranty Association

990 • Fiscal year 2013 • EIN 23-7334849

Jan 01, 2013 to Dec 31, 2013 • Filed on Jun 30, 2014

Organization Profilewww.mtiga.org
1720 South Bellaire StreetSuite 40880222

(303) 759-5066

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$20,701,910

Up $258,501 (+1.3%) from 2012

Net Assets

Up

$20,701,910

Up $258,501 (+1.3%) from 2012

Liabilities

Flat

$0

Flat from 2012

Revenue And Expenses

Revenue

$3,681,663

No earlier filing loaded for comparison.

Expenses

Down

$3,423,162

Down $760,243 (-18%) from 2012

Net Income

$258,501

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2010: $15,766,444Liabilities 2010: $0Net Assets 2010: $15,766,4442010Assets 2011: $15,560,249Liabilities 2011: $0Net Assets 2011: $15,560,2492011Assets 2012: $20,443,409Liabilities 2012: $0Net Assets 2012: $20,443,4092012Assets 2013: $20,701,910Liabilities 2013: $0Net Assets 2013: $20,701,9102013Assets 2014: $20,966,815Liabilities 2014: $0Net Assets 2014: $20,966,8152014Assets 2015: $19,604,439Liabilities 2015: $0Net Assets 2015: $19,604,4392015Assets 2016: $17,434,382Liabilities 2016: $0Net Assets 2016: $17,434,3822016Assets 2017: $16,620,368Liabilities 2017: $0Net Assets 2017: $16,620,3682017Assets 2018: $16,128,564Liabilities 2018: $0Net Assets 2018: $16,128,5642018Assets 2019: $17,531,388Liabilities 2019: $0Net Assets 2019: $17,531,3882019Assets 2020: $16,745,514Liabilities 2020: $0Net Assets 2020: $16,745,5142020Assets 2021: $15,767,716Liabilities 2021: $0Net Assets 2021: $15,767,7162021Assets 2022: $15,086,577Liabilities 2022: $0Net Assets 2022: $15,086,5772022Assets 2023: $15,902,849Liabilities 2023: $0Net Assets 2023: $15,902,8492023Assets 2024: $14,368,972Liabilities 2024: $0Net Assets 2024: $14,368,9722024

Highlighted filing

2013

Assets$20,701,910
Liabilities$0
Net Assets$20,701,910
Open 2013 Filing

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MExpenses 2010: $3,754,3672010Expenses 2011: $3,207,9022011Expenses 2012: $4,183,4052012Revenue 2013: $3,681,663Expenses 2013: $3,423,162Net Income 2013: $258,5012013Revenue 2014: $2,418,012Expenses 2014: $2,153,107Net Income 2014: $264,9052014Revenue 2015: $1,115,567Expenses 2015: $2,477,943Net Income 2015: -$1,362,3762015Revenue 2016: $979,928Expenses 2016: $3,149,985Net Income 2016: -$2,170,0572016Revenue 2017: $949,055Expenses 2017: $1,763,069Net Income 2017: -$814,0142017Revenue 2018: $1,361,481Expenses 2018: $1,853,285Net Income 2018: -$491,8042018Revenue 2019: $3,413,974Expenses 2019: $2,011,150Net Income 2019: $1,402,8242019Revenue 2020: $568,344Expenses 2020: $1,354,218Net Income 2020: -$785,8742020Revenue 2021: $332,437Expenses 2021: $1,310,235Net Income 2021: -$977,7982021Revenue 2022: $427,346Expenses 2022: $1,108,485Net Income 2022: -$681,1392022Revenue 2023: $2,837,205Expenses 2023: $2,020,933Net Income 2023: $816,2722023Revenue 2024: $2,089,156Expenses 2024: $3,623,033Net Income 2024: -$1,533,8772024

Highlighted filing

2013

Revenue$3,681,663
Expenses$3,423,162
Net Income$258,501
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Jun 30, 2014
Return Version
2013v3.0
Gross Receipts
$3,681,663
Mission and Program Overview

Mission

Protect citizens of Montana by paying policy holder claims of insolvent property and casualty insurance companies which wrote business in Montana.

Paying Montana policy holder claims of insolvent property and casualty insurance companies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$19,833,409$18,781,910▼ $1,051,499
Cash and Non-Interest-Bearing Accounts$560,000$1,870,000▲ $1,310,000
Accounts Receivable$50,000$50,000→ $0
Total Assets$20,443,409$20,701,910▲ $258,501
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$20,443,409$20,701,910▲ $258,501
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$20,443,409$20,701,910▲ $258,501
Total Liabilities and Net Assets / Fund Balance$20,443,409$20,701,910▲ $258,501
Compensation and Service Providers

Board Members and Trustees

NameTitle
Terry L HuntBoard Chair
Carey BertschBoard Member
Larry BittermanBoard Member
Matthew B Thiel Public RepBoard Member
Robert L FieldsBoard Member
Steve KalgaardBoard Member
Wanda Grinde Public RepBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Cypress Care IncMedical-$506,936
Murphy Law FirmSettlement-$170,000
Joyce Johnston & MacDonald PLLPSettlement-$138,727
Corporate Pharmacy Services IncMedical-$127,131
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,560,527
Investment Income
$121,136
Other Revenue
$0
Change in Net Assets
$258,501
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,423,162
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$1,014,448$0$0$1,014,448
Total Functional Expenses$3,423,162$0$0$3,423,162
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Montana Insurance Guaranty Association's management duties are conducted by Western Guaranty Fund Services, a 501(c)6 organization created to provide accounting, administration and management for six property and casualty insurance guaranty associations.”

Form 990, Part VI, Section A, Line 6

“Montana Insurance Guaranty Association's members are insurance companies which write insurance covered in the state.”

Form 990, Part VI, Section A, Line 7A

“Members of the governing board of directors are elected by Montana Insurance Guaranty Association members (insurance companies).”

Form 990, Part VI, Section B, Line 11B

“Montana Insurance Guaranty Association's form 990 was prepared by Western Guaranty Fund Services and was emailed to the board of directors prior to filing.”

Form 990, Part VI, Section B, Line 12C

“At the beginning of every board meeting, members of the board are reminded of the potential for conflicts of interest and given the opportunity to discuss any conflicts.”

Form 990, Part VI, Section C, Line 19

“Montana Insurance Guaranty Association was created by Montana code ann 33-10-100 Et Esq. Governing documentation and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

EIN
23-7334849
Phone
3037595066

Signing Officer

Name
David C Edwards
Title
President-WGFS
Phone
3037595066
Signed
2014-06-30

Organization Details

Principal Officer
David C Edwards
Formed
1971
Legal Domicile
Mt
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0
Raw XML Appendix357 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Montana Insurance Guaranty Association's management duties are conducted by Western Guaranty Fund Services, a 501(c)6 organization created to provide accounting, administration and management for six property and casualty insurance guaranty associations.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Montana Insurance Guaranty Association's members are insurance companies which write insurance covered in the state.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Members of the governing board of directors are elected by Montana Insurance Guaranty Association members (insurance companies).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Montana Insurance Guaranty Association's form 990 was prepared by Western Guaranty Fund Services and was emailed to the board of directors prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4At the beginning of every board meeting, members of the board are reminded of the potential for conflicts of interest and given the opportunity to discuss any conflicts.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Montana Insurance Guaranty Association was created by Montana code ann 33-10-100 Et Esq. Governing documentation and financial statements are available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, Line 19
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IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03423162
IRS990/TotalFunctionalExpensesGrp/TotalAmt03423162
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt020443409
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt020701910
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt03423162
IRS990/TotalProgramServiceRevenueAmt03560527
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03681663
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03681663
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt020443409
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt020701910
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt020443409
IRS990/UnrestrictedNetAssetsGrp/EOYAmt020701910
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine101720 South Bellaire Street
IRS990/USAddress/AddressLine20Suite 408
IRS990/USAddress/City0Denver
IRS990/USAddress/State0CO
IRS990/USAddress/ZIPCode080222
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0www.mtiga.org
IRS990/WhistleblowerPolicyInd01
ReasonableCauseExplanation/ExplanationTxt0Needed more time and timely filed an extension on form 8868.
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/PersonNm0David C Edwards
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President-WGFS
ReturnHeader/BusinessOfficerGrp/PhoneNum03037595066
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-06-30
ReturnHeader/Filer/BusinessName/BusinessNameLine10MONTANA INSURANCE GUARANTY ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0MONT
ReturnHeader/Filer/EIN0237334849
ReturnHeader/Filer/PhoneNum03037595066
ReturnHeader/Filer/USAddress/AddressLine101720 South Bellaire Street
ReturnHeader/Filer/USAddress/AddressLine20Suite 408
ReturnHeader/Filer/USAddress/City0Denver
ReturnHeader/Filer/USAddress/State0CO
ReturnHeader/Filer/USAddress/ZIPCode080222
ReturnHeader/ReturnTs02014-06-24T15:04:49-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$20,701,910
Liabilities
$0
Net assets
$20,701,910
Revenue
$3,681,663
Expenses
$3,423,162
Net income
$258,501
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$14.4$0.00$14.4$2.09$3.62$1.53
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.9$0.00$15.9$2.84$2.02$0.82
2022Detailed filing. Detailed filing data is available for this year.$15.1$0.00$15.1$0.43$1.11$0.68
2021Detailed filing. Detailed filing data is available for this year.$15.8$0.00$15.8$0.33$1.31$0.98
2020Detailed filing. Detailed filing data is available for this year.$16.7$0.00$16.7$0.57$1.35$0.79
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.5$0.00$17.5$3.41$2.01$1.40
2018Detailed filing. Detailed filing data is available for this year.$16.1$0.00$16.1$1.36$1.85$0.49
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.6$0.00$16.6$0.95$1.76$0.81
2016Detailed filing. Detailed filing data is available for this year.$17.4$0.00$17.4$0.98$3.15$2.17
2015Detailed filing. Detailed filing data is available for this year.$19.6$0.00$19.6$1.12$2.48$1.36
2014Detailed filing. Detailed filing data is available for this year.$21.0$0.00$21.0$2.42$2.15$0.26
2013Detailed filing. Detailed filing data is available for this year.$20.7$0.00$20.7$3.68$3.42$0.26
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.4$0.00$20.4$4.18
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.6$0.00$15.6$3.21
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.8$0.00$15.8$3.75