North Carolina Insurance Guaranty Association
Raleigh, NC 27612 · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $15,993,250 | $24,259,876 | $123,336,163 |
| FY2023 | $31,484,715 | $16,499,358 | $131,600,660 |
| FY2022 | $25,291,670 | $29,171,088 | $116,615,303 |
| FY2021 | $22,094,183 | $12,411,907 | $120,494,721 |
| FY2020 | $27,957,673 | $19,370,315 | $110,812,445 |
| FY2019 | $18,890,891 | $21,331,434 | $102,225,087 |
| FY2018 | $45,498,675 | $16,710,283 | $104,665,630 |
| FY2017 | $11,705,017 | $16,400,249 | $3,698,062 |
| FY2016 | $18,759,923 | $19,400,666 | $15,340,899 |
| FY2015 | $25,160,139 | $18,851,992 | $9,510,530 |
| FY2014 | $18,002,830 | $15,323,354 | $3,027,645 |
| FY2013 | $25,233,514 | $17,302,938 | $3,236,301 |
| FY2012 | $11,887,989 | $22,073,625 | $9,378,516 |
| FY2011 | $22,623,246 | $26,722,158 | $14,515,116 |
Form 990 filings
The returns filed by North Carolina Insurance Guaranty Association (EIN 23-7355707), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $0 | 0% |
| Program service revenue | $13,319,738 | 83% |
| Other revenue | $2,673,512 | 17% |
What the numbers show
- Program service revenue made up 83% of total revenue in FY2024.
- Net assets covered about 61 months of expenses at the end of the reporting year.
- Total revenue fell from $22,623,246 in FY2011 to $15,993,250 in FY2024. Revenue increased in 6 and decreased in 7 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 7 of 14 reported years (FY2011, FY2012, FY2016, FY2017, FY2019, FY2022, FY2024).
- The highest revenue on record here is $45,498,675 in FY2018.
- Net assets grew from $14,515,116 to $123,336,163 between FY2011 and FY2024.
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
THE PURPOSE OF THE NORTH CAROLINA INSURANCE GUARANTY ASSOCIATION IS TO PROVIDE A MECHANISM FOR THE PAYMENT OF COVERED CLAIMS UNDER CERTAIN INSURANCE POLICIES, TO AVOID EXCESSIVE DELAY IN PAYMENT, AND TO AVOID FINANCIAL LOSS TO CLAIMANTS OF POLICYHOLDERS BECAUSE OF THE INSOLVENCY OF AN INSURER, TO
IRS status
| Ruling year | 1974 |
| Subsection | 501(c)(6) |
Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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