Form 990 for tax year 2024
Filed by FLORIDA INSURANCE GUARANTY ASSOCIATION INC.
Totals
- Total revenue
- $825,613,312
- Total expenses
- $542,743,873
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $27,520,193
- Other revenue
- $798,093,119
- Total assets, end of year
- $827,340,191
- Total liabilities, end of year
- $560,366,818
- Net assets or fund balances, end of year
- $266,973,373
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
3 · Investment income
total $27,520,174 · excluded $27,520,174
-
7a · Gross sales of assets other than inventory
securities $4,377,203,212
-
7b · Less cost or other basis and sales expenses
securities $4,377,203,193
-
7c · Gain or loss
securities $19
-
7d · Net gain or loss
total $19 · excluded $19
-
11a · Other revenue: ASSESSMENTS
total $370,370,277 · related or exempt $370,370,277
-
11b · Other revenue: REIMBURSEMENT FOR HANDLING EXP
total $265,615,592 · related or exempt $265,615,592
-
11c · Other revenue: REIMBURSEMENT FOR CLAIMS
total $162,107,250 · related or exempt $162,107,250
-
11e · Other revenue, total
$798,093,119
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $404,312
-
7 · Other salaries and wages
total $2,068,842
-
8 · Pension plan contributions
total $3,688,628
-
9 · Other employee benefits
total $231,647
-
10 · Payroll taxes
total $136,625
-
11b · Fees: legal
total $383,447
-
11c · Fees: accounting
total $79,874
-
11d · Fees: lobbying
total $8,100
-
11f · Fees: investment management
total $123,862
-
11g · Fees: other
total $90,405
-
13 · Office expenses
total $161,002
-
14 · Information technology
total $615,142
-
16 · Occupancy
total $56,809
-
17 · Travel
total $51,611
-
20 · Interest
total $24,050,976
-
22 · Depreciation, depletion and amortization
total $58,994
-
23 · Insurance
total $116,941
-
24a · Other expenses: CLAIMS PAID
total $510,208,065
-
24b · Other expenses: DUES & SUBSCRIPTIONS
total $191,622
-
24c · Other expenses: TAXES & LICENSES
total $16,969
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $293,585,908 · end of year $364,230,716
-
4 · Accounts receivable
beginning of year $291,789,437 · end of year $280,280,000
-
10a · Land, buildings and equipment: cost or other basis
$2,180,121
-
10b · Land, buildings and equipment: accumulated depreciation
$1,321,067
-
10c · Land, buildings and equipment, net
beginning of year $878,257 · end of year $859,054
-
11 · Investments: publicly traded securities
beginning of year $29,396,626 · end of year $179,293,529
-
15 · Other assets
beginning of year $2,126,003 · end of year $2,676,892
-
17 · Accounts payable and accrued expenses
beginning of year $10,006 · end of year $0
-
20 · Tax-exempt bond liabilities
beginning of year $607,212,362 · end of year $553,063,642
-
23 · Secured mortgages and notes payable
beginning of year $15,000,000
-
25 · Other liabilities
beginning of year $11,449,931 · end of year $7,303,176
-
27 · Net assets without donor restrictions
beginning of year -$15,896,068 · end of year $266,973,373
Mission and programs · 2024
Mission
TO PROVIDE A MECHANISM FOR THE PAYMENT OF COVERED CLAIMS OF INSOLVENT INSURERS AND TO ASSIST IN THE DETECTION AND PREVENTION OF INSURER INSOLVENCIES.
-
THE ASSOCIATION PAYS THE COVERED CLAIMS OF INSOLVENT INSURERS AND ASSISTS IN THE DETECTION AND PREVENTION OF INSURER INSOLVENCIES. IN 2024, THERE WERE 12,340 CLAIMS. THERE ARE APPROXIMATELY 728 MEMBERS.
As filed on the 2024 return.
Listed in Part VII
-
Kimberly BlackburnKIMBERLY BLACKBURN
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 2
-
Brent BrummerBRENT BRUMMER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Benjamin TreuilBENJAMIN TREUIL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jon RitchieJON RITCHIE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Michael DobsonMICHAEL DOBSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Ryan WestRYAN WEST
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Charles LydeckerCHARLES LYDECKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Tom GallagherTOM GALLAGHER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Tasha CarterTASHA CARTER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Steven BrownSTEVEN BROWN
CHIEF OPERATING OFFICER
- Total calculated
- $190,452
- From this org
- $166,991
- From related orgs
- $0
- Other
- $23,461
- Hours/week
- 20
Schedule J breakdown matched by us
- Base
- $146,991
- Bonus
- $20,000
- Other
- $0
- Deferred
- $9,384
- Nontaxable benefits
- $14,077
- Filer's total
- $190,452
-
William HughesWILLIAM HUGHES
VICE PRESIDENT OF CLAIMS
- Total calculated
- $213,860
- From this org
- $183,371
- From related orgs
- $0
- Other
- $30,489
- Hours/week
- 30
Schedule J breakdown matched by us
- Base
- $170,621
- Bonus
- $12,750
- Other
- $0
- Deferred
- $14,670
- Nontaxable benefits
- $15,819
- Filer's total
- $213,860
-
Corey NealCOREY NEAL
EXECUTIVE DIRECTOR
- Total calculated
- $150,457
- From this org
- $129,917
- From related orgs
- $0
- Other
- $20,540
- Hours/week
- 20
Schedule J breakdown matched by us
- Base
- $129,917
- Bonus
- $0
- Other
- $0
- Deferred
- $10,393
- Nontaxable benefits
- $10,147
- Filer's total
- $150,457
-
Elizabeth FrisbieELIZABETH FRISBIE
CONTROLLER
- Total calculated
- $162,576
- From this org
- $135,886
- From related orgs
- $0
- Other
- $26,690
- Hours/week
- 30
Schedule J breakdown matched by us
- Base
- $127,136
- Bonus
- $8,750
- Other
- $0
- Deferred
- $10,871
- Nontaxable benefits
- $15,819
- Filer's total
- $162,576
-
Andrew HarrisANDREW HARRIS
IT MANAGER
- Total calculated
- $144,070
- From this org
- $134,311
- From related orgs
- $0
- Other
- $9,759
- Hours/week
- 30
-
Veronica DegraffVERONICA DEGRAFF
HR DIRECTOR
- Total calculated
- $169,329
- From this org
- $142,138
- From related orgs
- $0
- Other
- $27,191
- Hours/week
- 30
Schedule J breakdown matched by us
- Base
- $132,388
- Bonus
- $9,750
- Other
- $0
- Deferred
- $11,372
- Nontaxable benefits
- $15,819
- Filer's total
- $169,329
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Form 990 of other organizations
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 7 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202513169349303446
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