Civic Intelligence

Washington Life & Disability Insurance Guaranty Association

990 • Fiscal year 2017 • EIN 91-6159504

Jan 01, 2017 to Dec 31, 2017 • Filed on Aug 15, 2018

PO Box 2292Shelton, WA 98584

(360) 426-6744

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

9th percentile

0.01x

Higher debt load relative to assets than 9% of similar nonprofits.

2017 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

8th percentile

0.02x

Higher debt load relative to revenue than 8% of similar nonprofits.

2017 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2017

Net Margin

98th percentile

76%

Higher net margin than 98% of similar nonprofits.

2017 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

14th percentile

$141,975

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2017 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2017

Asset Growth

98th percentile

99%

Faster asset growth than 98% of similar nonprofits.

2017 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

99th percentile

1106%

Faster revenue growth than 99% of similar nonprofits.

2017 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Up

$15,662,120

Up $7,781,601 (+99%) from 2016

Net Assets

Up

$15,505,912

Up $7,728,844 (+99%) from 2016

Liabilities

Up

$156,208

Up $52,757 (+51%) from 2016

Revenue

Up

$10,143,765

Up $9,302,383 (+1106%) from 2016

Expenses

Up

$2,414,921

Up $1,583,621 (+190%) from 2016

Net Income

Up

$7,728,844

Up $7,718,762 (+76560%) from 2016

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $15,651,828Liabilities 2010: $62,856Net Assets 2010: $15,588,9722010Assets 2011: $19,779,073Liabilities 2011: $68,500Net Assets 2011: $19,710,5732011Assets 2012: $17,371,455Liabilities 2012: $80,735Net Assets 2012: $17,290,7202012Assets 2013: $22,382,791Liabilities 2013: $79,844Net Assets 2013: $22,302,9472013Assets 2014: $8,140,556Liabilities 2014: $47,877Net Assets 2014: $8,092,6792014Assets 2015: $7,816,450Liabilities 2015: $49,464Net Assets 2015: $7,766,9862015Assets 2016: $7,880,519Liabilities 2016: $103,451Net Assets 2016: $7,777,0682016Assets 2017: $15,662,120Liabilities 2017: $156,208Net Assets 2017: $15,505,9122017Assets 2018: $20,301,905Liabilities 2018: $112,773Net Assets 2018: $20,189,1322018Assets 2019: $18,557,738Liabilities 2019: $49,832Net Assets 2019: $18,507,9062019Assets 2020: $18,128,157Liabilities 2020: $59,748Net Assets 2020: $18,068,4092020Assets 2021: $17,623,213Liabilities 2021: $41,663Net Assets 2021: $17,581,5502021Assets 2022: $17,170,547Liabilities 2022: $38,297Net Assets 2022: $17,132,2502022Assets 2023: $16,958,419Liabilities 2023: $27,595Net Assets 2023: $16,930,8242023Assets 2024: $52,536,317Liabilities 2024: $84,897Net Assets 2024: $52,451,4202024

Highlighted filing

2017

Assets$15,662,120
Liabilities$156,208
Net Assets$15,505,912

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2010: $2,888,7392010Expenses 2011: $2,568,1502011Revenue 2012: $300,642Expenses 2012: $2,720,495Net Income 2012: -$2,419,8532012Revenue 2013: $12,919,406Expenses 2013: $7,907,179Net Income 2013: $5,012,2272013Revenue 2014: $519,372Expenses 2014: $14,729,640Net Income 2014: -$14,210,2682014Revenue 2015: $283,140Expenses 2015: $608,833Net Income 2015: -$325,6932015Revenue 2016: $841,382Expenses 2016: $831,300Net Income 2016: $10,0822016Revenue 2017: $10,143,765Expenses 2017: $2,414,921Net Income 2017: $7,728,8442017Revenue 2018: $10,527,649Expenses 2018: $5,844,429Net Income 2018: $4,683,2202018Revenue 2019: $10,550,527Expenses 2019: $12,231,753Net Income 2019: -$1,681,2262019Revenue 2020: $10,404,082Expenses 2020: $10,843,579Net Income 2020: -$439,4972020Revenue 2021: $10,170,457Expenses 2021: $10,657,316Net Income 2021: -$486,8592021Revenue 2022: $10,178,767Expenses 2022: $10,628,067Net Income 2022: -$449,3002022Revenue 2023: $10,419,474Expenses 2023: $10,620,900Net Income 2023: -$201,4262023Revenue 2024: $46,266,046Expenses 2024: $10,745,450Net Income 2024: $35,520,5962024

Highlighted filing

2017

Revenue$10,143,765
Expenses$2,414,921
Net Income$7,728,844
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Aug 15, 2018
Return Version
2017v2.3
Gross Receipts
$10,143,765
Mission and Program Overview

Mission

The washington life and disability insurance guaranty association was established to provide certain protections to policyholders of impaired or insolvent insurers in accordance with chapter 48.32a of the revised code of washington.

See schedule o the washington life and disability insurance guaranty association was established to provide certain protections to policyholders of impaired or insolvent insurers in accordance with chapter 48.32a of the revised code of washington.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,288,032$10,445,899▲ $9,157,867
Investments Other Securities$6,592,487$5,216,221▼ $1,376,266
Total Assets$7,880,519$15,662,120▲ $7,781,601
Liabilities
Accounts Payable and Accrued Expenses$103,451$156,208▲ $52,757
Total Liabilities$103,451$156,208▲ $52,757
Net Assets / Fund Balance
Unrestricted Net Assets$7,777,068$15,505,912▲ $7,728,844
Total Net Assets Fund Balance$7,777,068$15,505,912▲ $7,728,844
Total Liabilities and Net Assets / Fund Balance$7,880,519$15,662,120▲ $7,781,601

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$222,879--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
-Executive DirectorPT$141,975$141,975

Board Members and Trustees

NameTitle
MICHAEL N O'DAYKathy Englund, Rep./ Chair
-Doug Hartz, Rep.
-Elizabeth Sloan, Rep.
-Garrett Paddor, Rep./ Vice
-Gerrie Marks, Rep.
-Laura Carreau, Rep.
-Robert Ogden, Rep. / Secre
-Ted Kennedy, Rep.
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$10,088,141
Investment Income
$55,624
Other Revenue
$0
Change in Net Assets
$7,728,844

Audited Revenue Reconciliation

Revenue per Audited Statements
$10,143,765
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$10,143,765
Total Revenue per Form 990
$10,143,765
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,272,946
Salaries, Compensation, and Employee Benefits$141,975
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$141,975
Travel---$24,777
Fees for Services Accounting---$20,887
Conferences and Meetings---$10,112
Other Expenses---$8,980
All Other Expenses---$7,749
Fees for Services Legal---$5,646
Insurance---$5,070
Occupancy---$1,359
Total Functional Expenses$0$0$0$2,414,921

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,414,921
Total Expenses per Audited Statements$2,414,921
Total Expenses per Form 990$2,414,921
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

In accordance with chapter 48.32a of the revised code of washington, all insurance companies authorized to sell life insurance, annuity contracts or health insurance in washington state are automatically members of the association.

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

The members of the association select the board of directors of the association, subject to the approval of the office of the insurance commissioner of washington state.

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

The members of the association are only responsible for the election of the board of directors. All other powers of the association are exercised by the board of directors.

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

Return is reviewed by board of directors before being finalized by accountants.

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

Each year all board members, officers and consultants of the association are required to complete a conflicts of interest questionnaire. The conflicts of interest policy is enforced by the board of directors of the association in accordance with the policy.

Form 990, Part VI, Section B, Line 15A

Each year the board of directors reviews the compensation of the executive director and makes a decision based on current insurance industry information regarding the compensation level for the following year.

Form 990, Part VI, Section C, Line 19

Other documents publicly available the annual audited financial satements are provided to member insurers, the office of the insurance commissioner of washington state, and others upon request.

Filing and Contact Details

Filer

Filer Name
Washington Life & Disability Insurance
EIN
91-6159504
Phone
3604266744
Address
PO BOX 2292, SHELTON, WA 98584

Signing Officer

Name
MICHAEL N O'DAY
Title
Executive Director
Phone
4255623128
Signed
2018-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
MICHAEL N O'DAY
Formed
1975
Legal Domicile
Wa
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
0

Preparer

Firm
Sweeney Conrad Ps
Address
2606 116TH AVENUE NE SUITE 200, BELLEVUE, WA 98004-1422
Preparer
Kristina Morrissette
Phone
4256291990
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 1

The organization uses the modified cash method

Raw XML Appendix341 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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IRS990/Form990PartVIISectionAGrp/TitleTxt6LAURA CARREAU, REP.
IRS990/Form990PartVIISectionAGrp/TitleTxt7GERRIE MARKS, REP.
IRS990/Form990PartVIISectionAGrp/TitleTxt8EXECUTIVE DIRECTOR
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IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IN ACCORDANCE WITH CHAPTER 48.32A OF THE REVISED CODE OF WASHINGTON, ALL INSURANCE COMPANIES AUTHORIZED TO SELL LIFE INSURANCE, ANNUITY CONTRACTS OR HEALTH INSURANCE IN WASHINGTON STATE ARE AUTOMATICALLY MEMBERS OF THE ASSOCIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERS OF THE ASSOCIATION SELECT THE BOARD OF DIRECTORS OF THE ASSOCIATION, SUBJECT TO THE APPROVAL OF THE OFFICE OF THE INSURANCE COMMISSIONER OF WASHINGTON STATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE MEMBERS OF THE ASSOCIATION ARE ONLY RESPONSIBLE FOR THE ELECTION OF THE BOARD OF DIRECTORS. ALL OTHER POWERS OF THE ASSOCIATION ARE EXERCISED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3RETURN IS REVIEWED BY BOARD OF DIRECTORS BEFORE BEING FINALIZED BY ACCOUNTANTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4EACH YEAR ALL BOARD MEMBERS, OFFICERS AND CONSULTANTS OF THE ASSOCIATION ARE REQUIRED TO COMPLETE A CONFLICTS OF INTEREST QUESTIONNAIRE. THE CONFLICTS OF INTEREST POLICY IS ENFORCED BY THE BOARD OF DIRECTORS OF THE ASSOCIATION IN ACCORDANCE WITH THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5EACH YEAR THE BOARD OF DIRECTORS REVIEWS THE COMPENSATION OF THE EXECUTIVE DIRECTOR AND MAKES A DECISION BASED ON CURRENT INSURANCE INDUSTRY INFORMATION REGARDING THE COMPENSATION LEVEL FOR THE FOLLOWING YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6OTHER DOCUMENTS PUBLICLY AVAILABLE THE ANNUAL AUDITED FINANCIAL SATEMENTS ARE PROVIDED TO MEMBER INSURERS, THE OFFICE OF THE INSURANCE COMMISSIONER OF WASHINGTON STATE, AND OTHERS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE ORGANIZATION USES THE MODIFIED CASH METHOD
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
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 B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XII, LINE 1
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt07880519
IRS990/TotalAssetsEOYAmt015662120
IRS990/TotalAssetsGrp/BOYAmt07880519
IRS990/TotalAssetsGrp/EOYAmt015662120
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt02414921
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0103451
IRS990/TotalLiabilitiesEOYAmt0156208
IRS990/TotalLiabilitiesGrp/BOYAmt0103451
IRS990/TotalLiabilitiesGrp/EOYAmt0156208
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07777068
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt015505912
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt010088141
IRS990/TotalReportableCompFromOrgAmt0141975
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt010143765
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt010143765
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt07880519
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt015662120
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt024777
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt07777068
IRS990/UnrestrictedNetAssetsGrp/EOYAmt015505912
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 2292
IRS990/USAddress/CityNm0SHELTON
IRS990/USAddress/StateAbbreviationCd0WA
IRS990/USAddress/ZIPCd098584
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.WALIFEGA.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL N O'DAY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04255623128
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-08-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WASHINGTON LIFE & DISABILITY INSURANCE
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0GUARANTY ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0WASH
ReturnHeader/Filer/EIN0916159504
ReturnHeader/Filer/PhoneNum03604266744
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 2292
ReturnHeader/Filer/USAddress/CityNm0SHELTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WA
ReturnHeader/Filer/USAddress/ZIPCd098584
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId09C3E559027F3F00F616D1ACB58F5DF4251BEC237
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0FD6EFFB0EE0EBF1F3FD79A454DED6C2E1AE91ACD
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0206.169.227.26
ReturnHeader/FilingSecurityInformation/IPDt02018-08-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm012:30:03
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0911301672
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SWEENEY CONRAD PS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02606 116TH AVENUE NE SUITE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BELLEVUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0980041422
ReturnHeader/PreparerPersonGrp/PhoneNum04256291990
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KRISTINA MORRISSETTE
ReturnHeader/ReturnTs02018-09-06T13:25:11-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.5$0.08$52.5$46.3$10.7$35.5
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.0$0.03$16.9$10.4$10.6$0.20
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.2$0.04$17.1$10.2$10.6$0.45
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.6$0.04$17.6$10.2$10.7$0.49
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.1$0.06$18.1$10.4$10.8$0.44
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.6$0.05$18.5$10.6$12.2$1.68
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.3$0.11$20.2$10.5$5.84$4.68
2017Detailed filing. Detailed filing data is available for this year.$15.7$0.16$15.5$10.1$2.41$7.73
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.88$0.10$7.78$0.84$0.83$0.01
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.82$0.05$7.77$0.28$0.61$0.33
2014Detailed filing. Detailed filing data is available for this year.$8.14$0.05$8.09$0.52$14.7$14.2
2013Detailed filing. Detailed filing data is available for this year.$22.4$0.08$22.3$12.9$7.91$5.01
2012Summary only. Only limited summary data is available for this year.$17.4$0.08$17.3$0.30$2.72$2.42
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.8$0.07$19.7$2.57
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.7$0.06$15.6$2.89