NonprofitsGuaranty Fund Management Services Inc

Guaranty Fund Management Services Inc

BOSTON, MA

Total revenue

$7.5M

Total expenses

$8.5M

Net assets

Grants received

EIN

042712442

Tax year

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.

Financials

FY 2024

Revenue

Contributions & grants
Program service revenue$7.5M
Investment income$4K
Other revenue
Total revenue$7.5M

Expenses

Grants paid
Salaries & benefits$6.9M
Fundraising
Other expenses$1.5M
Total expenses$8.5M
Total assets$8.1M
Net assets

People

19 listed

NameRoleCompensation

Barbara Law

President & CEO

Board

$581K

37.5 hrs/wk

Jeffrey Scott

Vice President Claims

Board

$294K

37.5 hrs/wk

Linda Angelone

Senior Vice President HR and Compliance

Board

$258K

37.5 hrs/wk

Dimitar Kotzev

Vice President IT

Board

$202K

37.5 hrs/wk

Andrea Rossi

Vice President Operations

Board

$153K

37.5 hrs/wk

Heather Holland

Treasurer and VP Accounting and Finance

Board

$123K

30 hrs/wk

Donald Baldini

Director

Board

1 hrs/wk

Harris E Berenson

Director

Board

1 hrs/wk

William Cahill

Director

Board

1 hrs/wk

Earl Cottam

Director

Board

1 hrs/wk

Lincoln Merrill Jr

Director

Board

1 hrs/wk

L Noel Patterson Jr

Director

Board

1 hrs/wk

Joseph Torti III

Director

Board

1 hrs/wk

Theresa Lewis

Director

Board

1 hrs/wk

Ramzi Ballout

Senior Applications Architect

Staff

$169K

37.5 hrs/wk

Sergey Dmitriev

Lead Applications Developer

Staff

$147K

37.5 hrs/wk

Marjorie Corbet

Claims Manager

Staff

$144K

37.5 hrs/wk

Craig Cote

Senior Systems Administrator

Staff

$139K

37.5 hrs/wk

Keith Legget

Claims Manager

Staff

$131K

37.5 hrs/wk

Details

EIN042712442
Subsection06
Ruling date0000-00
Formed1981
Employees33
Volunteers0
GUARANTY FUND MANAGEMENT SERVICES INC — Mission, Financials & Grants Received | Grantivo