Public Charity

GUARANTY FUND MANAGEMENT SERVICES INC

Based in Boston, MA, GUARANTY FUND MANAGEMENT SERVICES INC operates as a Public Charity. The organization reported $7.5M in revenue, $8.5M in expenses, $8.1M in total assets for fiscal year 2024.

EIN: 042712442 Boston, MA Latest filing: 2024
Total Revenue$7.5M
Total Expenses$8.5M
Total Assets$8.1M
Grant Records0
Filing Years2022–2024

Mission

Provides management and claims supervisory services to its member associations to assist them in the discharge of their respective statutory responsibilities to handle promptly and efficiently covered claims against insolvent property and casualty insurers. The Corporation has been formed to establish and maintain a single efficient management and claims service organization for its member guaranty associations. The objectives of the Corporation include, but are not limited to: (1) Providing management and claims supervisory services to insurance guaranty funds or associations created by statute; (2) Assisting guaranty associations in the discharge of their statutory responsibility to handle promptly and efficiently covered claims against insolvent insurers; (3) Furnishing related or compatible services to insurers and insurer organizations; and (4) Doing any and all things appropriate to accomplish the foregoing purposes.

Where $100 goes at Guaranty Fund Management Services Inc

How Guaranty Fund Management Services Inc divides every $100 it spends, from its own Form 990 filings, averaged across 3 years.

$100 Programs the work itself
<$1 Management running the organization
$0 Fundraising none reported

No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.

Inside the $100 for programs

$100
Provides management and claims supervisory services to its member associations to assist them in the discharge of their respective statutory responsibilities to handle promptly and efficiently covered claims…
All program spending
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Source: Form 990 filings with the IRS, latest fiscal year 2024. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.

Officers & Directors

Vice President Operations Andrea Rossi
President & CEO Barbara Law
Senior Systems Administrator Craig Cote
Vice President IT Dimitar Kotzev
Director Donald Baldini
Director Earl Cottam

Officer compensation and complete director data available with membership.

Financial Trends

Year Revenue Expenses Assets
2024 $7.5M $8.5M $8.1M
2023 $7.6M $6.8M $6.4M
2022 $6.8M $4.6M $6.8M

Between 2022 and 2024, reported annual revenue grew from $6.8M to $7.5M (+11%), with total assets most recently reported at $8.1M.

Interactive year-over-year charts and full filing details available with membership.

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