Nonprofit · EIN 23-7270137
VIRGINIA PROPERTY AND CASUALTY INSURANCE LUARANTY ASSOCIATION
Tax-exempt · BOSTON, MA 02114
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $7,954,257 | $8,612,349 | -$658,092 | $152,058,348 | $0 | $152,058,348 |
| December 31, 2023 | 990 | $3,018,278 | $9,860,733 | -$6,842,455 | $152,716,440 | $0 | $152,716,440 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $2,807,469
- Investment income
- $5,146,788
- Net gain from sales of assets
- -$801,845
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $5,924,299
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $29,599
- Accounting fees
- $57,662
- Travel
- $4,470
Balance sheet and other
- Total assets, start of year
- $152,716,440
- Total assets, end of year
- $152,058,348
- Total liabilities, end of year
- $0
- Net assets, end of year
- $152,058,348
- Publicly traded securities
- $146,285,653
- Gross receipts
- $119,714,578
- Employees
- 0
- Volunteers
- 0
- Year formed
- 1972
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Theresa C Lewis Chair | representing Mutual Assurance Society of VA Trustee or director | 1 | $0 |
| Beth Murphy Vice Chair | representing Grange Insurance Company Trustee or director | 1 | $0 |
| Tom Brown Board Member | representing State Farm Mutual Auto. Ins. Co. Trustee or director | 1 | $0 |
| Michael Catina Board Member | representing Zurich American Ins. Co. Trustee or director | 1 | $0 |
| Samantha Freedman Board Member | representing Government Employees Ins Co Trustee or director | 1 | $0 |
| Douglas Morrissey Board Member | representing Continental Casualty Company Trustee or director | 1 | $0 |
| David Priddy Board Member | representing Virginia Farm Bureau Mutual Ins Co Trustee or director | 1 | $0 |
| Tinna Damaso Quigley Board Member | representing Allstate Insurance Company Trustee or director | 1 | $0 |
| Joe Torti Board Member | representing United States Fire Insurance Co Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Theresa C Lewis Chair | representing Mutual Assurance Society of VA Trustee or director | 1 | $0 |
| Beth Murphy Vice Chair | representing Grange Insurance Company Trustee or director | 1 | $0 |
| Tom Brown Board Member | representing State Farm Mutual Auto. Ins. Co. Trustee or director | 1 | $0 |
| Michael Catina Board Member | representing Zurich American Ins. Co. Trustee or director | 1 | $0 |
| Ryan Conway Board Member | representing Northern Neck Insurance Company Trustee or director | 1 | $0 |
| Douglas Morrissey Board Member | representing Continental Casualty Company Trustee or director | 1 | $0 |
| David Priddy Board Member | representing Virginia Farm Bureau Mutual Ins Co Trustee or director | 1 | $0 |
| Tinna Damaso Quigley Board Member | representing Allstate Insurance Company Trustee or director | 1 | $0 |
| Joe Torti Board Member | representing United States Fire Insurance Co Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- ONE BOWDOIN SQUARE SECOND FLOOR, BOSTON, MA 02114-2916
- In care of
- % GUARANTY FUND MANAGEMENT SERVICES
- Principal officer (990 for 2024)
- Barbara Petersen Law, One Bowdoin Square, Second Floor, Boston, MA 021142916
- Signed the 990
- Heather Holland, Treasurer
- Phone
- (617) 227-7020
- Website
- www.gfms.org
Mission
During the year the Association paid covered claims on behalf of insolvent insurers in accordance with the state statute, Chapter 16 of Title 38.2 of the Code of Virginia.
Program accomplishments
- During the year the Association paid covered claims on behalf of insolvent insurers in accordance with the state statute, Chapter 16 of Title 38.2 of the Code of Virginia.Expenses $5,924,299
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 23-7270137
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1974
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $152,058,348
- Income (IRS master file)
- $119,714,578
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $7,954,257 | $8,612,349 | $152,058,348 | XML |
| 990 | December 2023 | $3,018,278 | $9,860,733 | $152,716,440 | XML |
| 990 | December 2022 | $3,063,188 | $7,960,632 | $159,558,895 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-7270137).
Questions about VIRGINIA PROPERTY AND CASUALTY INSURANCE LUARANTY ASSOCIATION
- What is the EIN of VIRGINIA PROPERTY AND CASUALTY INSURANCE LUARANTY ASSOCIATION?
- The employer identification number (EIN) of VIRGINIA PROPERTY AND CASUALTY INSURANCE LUARANTY ASSOCIATION is 23-7270137.
- Is VIRGINIA PROPERTY AND CASUALTY INSURANCE LUARANTY ASSOCIATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1974.
- Are donations to VIRGINIA PROPERTY AND CASUALTY INSURANCE LUARANTY ASSOCIATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does VIRGINIA PROPERTY AND CASUALTY INSURANCE LUARANTY ASSOCIATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of VIRGINIA PROPERTY AND CASUALTY INSURANCE LUARANTY ASSOCIATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did VIRGINIA PROPERTY AND CASUALTY INSURANCE LUARANTY ASSOCIATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of VIRGINIA PROPERTY AND CASUALTY INSURANCE LUARANTY ASSOCIATION?
- The 990 for the year ended December 31, 2024 names Barbara Petersen Law.
- Who are the officers and directors of VIRGINIA PROPERTY AND CASUALTY INSURANCE LUARANTY ASSOCIATION?
- The 990 for the year ended December 31, 2024 lists 9 people; 0 received compensation from the organization.
- How much revenue does VIRGINIA PROPERTY AND CASUALTY INSURANCE LUARANTY ASSOCIATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $7,954,257, expenses of $8,612,349 and total assets of $152,058,348 at year end.
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