2024-02-16T15:54:01-06:00 2022-12-31 923320348 EAG GULF COAST LLC ONE GALLERIA BLVD STE 2100 METAIRIE LA 70001 990 2022-01-01 720889235 LOUISIANA INSURANCE GUARANTY ASSOCIATION LOUI 2252914775 2142 QUAIL RUN DRIVE BATON ROUGE LA 708084126 JOHN WELLS EXECUTIVE DIRECTOR 2252914775 2024-02-15 1 JOHN WELLS 999009999 0 GINA RACHEL P01216293 5048375990 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z JOHN WELLS 2142 QUAIL RUN DRIVE BATON ROUGE LA 708084126 349440642 0 X WWW.LAIGA.ORG X 1971 LA LIGA IS AN ORGANIZATION CREATED BY THE INSURANCE GUARANTY ACT (LA. R.S. 1375-1394) TO PAY FOR THE CLAIMS OF INSOLVENT MEMBER INSURANCE COMPANIES. 9 8 19 9 0 0 0 0 9888782 262492882 4652115 1800947 0 22468025 14540897 286761854 0 0 75087748 424173722 1412742 1853879 0 0 0 1711941 36442524 78212431 462470125 -63671534 -175708271 107866753 508430962 23726854 600000709 84139899 -91569747 X LIGA IS AN ORGANIZATION CREATED BY THE INSURANCE GUARANTY ACT (LA. R.S. 1375-1394) TO PAY FOR THE CLAIMS OF INSOLVENT MEMBER INSURANCE COMPANIES. FUNDS ARE PROVIDED FOR THE PAYMENT OF THE CLAIMS BY THE ASSESSMENT OF THE REMAINING MEMBER INSURANCE COMPANIES. ALL ADMITTED INSURANCE COMPANIES DOING BUSINESS IN LOUISIANA ARE REQUIRED TO BE MEMBERS OF THE ASSOCIATION (EXCLUDING CERTAIN LINES OF BUSINESS EXCLUDED BY STATUTE). 0 0 LIGA SERVES AS A SAFETY NET FOR LOUISIANA INSURANCE POLICYHOLDERS. IN 2022, LIGA PAID APPROXIMATELY $430 MILLION TO POLICYHOLDERS AND THIRD PARTY CLAIMANTS. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 368 0 1 19 1 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X JOHN WELLS 2257571688 2142 QUAIL RUN BATON ROUGE LA 70808 CINDY BETZ DIRECTOR 1.00 X 0 0 0 CULLEN CLARK DIRECTOR 1.00 X 0 0 0 DENIS HUSERS DIRECTOR 1.00 X 0 0 0 JENNIFER WISE DIRECTOR 1.00 X 0 0 0 JOHN HAWIE TREASURER 1.00 X X 0 0 0 MARKHAM R MCKNIGHT DIRECTOR 1.00 X 0 0 0 MICHAEL T GRAY CHAIR 1.00 X X 0 0 0 NOEL J BUNOL IV DIRECTOR 1.00 X 0 0 0 STEPHEN SCHREMPP SECRETARY 1.00 X X 0 0 0 JOHN WELLS LIGA DIRECTOR 40.00 X 269675 0 25808 DEIDRE ARCENEAUX CLAIMS MANAGER 40.00 X 183683 0 10994 MALCOLM TWINER SR. CLAIM EXAMINER 40.00 X 111135 0 22932 KEN MANN SR. CLAIM EXAMINER 40.00 X 110431 0 6181 674924 0 65915 4 0 1 0 SIMON PERAGINE SMITH & REDFEARN 1100 POYDRAS ST 30TH FLOOR NEW ORLEANS LA 70163 LEGAL SERVICES 5097103 RAY A COLLINS 11872 LA-308 LAROSE LA 70373 LEGAL SERVICES 4583116 MD CLAIMS GROUP LLC PO BOX 2337 MANDEVILLE LA 70470 CLAIMS MANAGEMENT & ADJUSTING SERVICES 3946099 KANDELL KANDELL & PETRIE PA 829 BARONNE ST NEW ORLEANS LA 70113 LEGAL SERVICES 2026469 MID-AMERICA CATASTROPHE SERVICES 5550 COMMERCE BLVD EAST MOBILE AL 36619 CLAIMS MANAGEMENT & ADJUSTING SERVICES 1732878 85 ASSESSMENTS 524298 205653379 205653379 LIQUIDATION DISTRIBUTION 524298 56839303 56839303 RESTITUTION 524298 200 200 262492882 1260799 1260799 63218936 62678788 540148 540148 540148 BOND PREMIUM INCOME 900099 22466650 22466650 K-1 ORDINARY BUSINESS INCOME 524298 1375 1375 22468025 286761854 284960907 0 1800947 424173722 295483 1305425 143227 109744 144961 21500 62878 271266 10937 228470 428680 302188 29686 5077 28631 OUTSIDE CLAIMS 31070456 BOND ISSUANCE COSTS 3042884 OTHER CLAIMS HANDLING 679393 DUES & SUBSCRIPTIONS 97652 17865 462470125 1632675 503289540 107866753 3508747 107866753 508430962 23726854 709 600000000 23726854 600000709 X 84139899 -91569747 84139899 -91569747 107866753 508430962 X -175708271 -1375 X X 0 1 X 1 0 0 X 286697601 0 286697601 62878 1375 64253 286761854 462407247 0 462407247 62878 62878 462470125 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO THE PROVISIONS OF SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(6) OF THE CODE. GAAP PRESCRIBES RULES FOR THE RECOGNITION, MEASUREMENT, CLASSIFICATION, AND DISCLOSURE IN THE FINANCIAL STATEMENTS OF UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON THE TAX RETURNS. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS OR ASSOCIATED UNRECOGNIZED BENEFITS THAT MATERIALLY IMPACT THE FINANCIAL STATEMENTS OR RELATED DISCLOSURES. SINCE TAX MATTERS ARE SUBJECT TO SOME DEGREE OF UNCERTAINTY, THERE CAN BE NO ASSURANCE THAT THE TAX RETURN WILL NOT BE CHALLEGED BY THE TAXING AUTHORITIES AND THAT THE ORGANIZATION WILL NOT BE SUBJECT TO ADDITIONAL TAX, PENALTIES, AND INTEREST AS A RESULT OF SUCH CHALLENGE. PART XI, LINE 4B - OTHER ADJUSTMENTS: K-1 ORDINARY BUSINESS INCOME 1,375. X X X X 0 0 0 JOHN WELLS LIGA DIRECTOR 219325 0 50350 0 0 0 13484 0 12324 0 295483 0 0 0 DEIDRE ARCENEAUX CLAIMS MANAGER 142983 0 40700 0 0 0 9184 0 1810 0 194677 0 0 0 A LA LOCAL GOVERNMENT ENVIRONMENTAL FACILITIES AND COMMUNITY DEVELOPMENT AUTH 741416168 NONEAVAIL 2022-08-31 142000000 SEE SUPPLEMENTAL INFORMATION 0 0 0 B LA LOCAL GOVERNMENT ENVIRONMENTAL FACILITIES AND COMMUNITY DEVELOPMENT AUTH 741416168 NONEAVAIL 2022-11-30 480466650 SEE SUPPLEMENTAL INFORMATION 0 0 0 A 142000000 755385 128000000 14000000 0 0 0 1 B 458000000 2377499 458000000 0 0 0 1 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 A 1 B 1 SCHEDULE K, PART I, BOND ISSUES: (F) DESCRIPTION OF PURPOSE: FOR ASSESSMENT INSURANCE REVENUE NOTE, SERIES 2022A AND INSURANCE ASSESSMENT REVENUE BONDS, SERIES 2022B - (I) TO PAY COVERED CLAIMS AS DEFINED BY STATUTE, (II) TO FUND A RESERVE FUND AT THE RESERVE REQUIREMENT, IF NECESSARY, AND (III) TO PAY THE COSTS OF ISSUANCE SCHEDULE K, PART II, PROCEEDS, COLUMN B: (3) TOTAL PROCEEDS OF ISSUE: THE BONDS WERE ISSUED INCLUDING AN ORIGINAL ISSUE PREMIUM OF $22,466,650 WHICH WAS RECOGNIZED AS RECEIPTS IN THE STATEMENTS OF ACTIVITIES, AND NOT A DEBT OBLIGATION LIABILITY, DURING 2022 PURSUANT TO THE CASH BASIS OF ACCOUNTING. FORM 990, PART VI, SECTION A, LINE 6 THE ASSOCIATION HAS MEMBER INSURANCE COMPANIES AS DEFINED BY LA STATUTE. FORM 990, PART VI, SECTION A, LINE 7A THERE ARE NINE BOARD MEMBERS: FOUR VOTED BY MEMBER ELECTIONS STAGGERED OVER THREE YEARS, ONE MEMBER COMPANY REPRESENTATIVE APPOINTED BY A LOCAL TRADE ORGANIZATION, AND FOUR APPOINTED BY ELECTED GOVERNMENT OFFICIALS. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD IS GIVEN AUDITED STATEMENTS AND THE ANNUAL REPORT WHICH ARE THE BASIS FOR AND USED IN THE FILING OF THE 990. FORM 990, PART VI, SECTION B, LINE 12C THEY ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST TWICE ANNUALLY. THE COMMISSIONER DEMANDS A STATEMENT ANNUALLY AS DOES THE LOUISIANA BOARD OF ETHICS/LOUISIANA ETHICS COMMISSION. FORM 990, PART VI, SECTION B, LINE 15A PERSONNEL COMMITTEE OF THE BOARD OF DIRECTORS DETERMINES THE OFFICER'S SALARY. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE PUBLISHED ON THE THE ORGANIZATION'S WEBSITE AS PART OF THE ANNUAL REPORT. ALL OTHER INFORMATION IS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: K-1 ORDINARY BUSINESS INCOME -1,375. FORM 990, PART XII, LINE 2: THERE HAVE BEEN NO CHANGES FROM THE PRIOR YEAR IN THE OVERSIGHT OR SELECTION PROCESSES FOR THE AUDIT THAT THE ORGANIZATION'S COMMITTEE USES.