2014-05-12T12:32:45-07:00 2013-12-31 990 2013-01-01 362737437 ILLINOIS INSURANCE GUARANTY FUND ILLI 3124229700 120 South La Salle Street Suite 1910 Chicago IL 60603 Anne Sharp Executive Director 3124229700 2014-05-12 2013 2015-11-30 17:44:51Z X Anne A Sharp 120 S La Salle Street Suite 1910 Chicago IL 60603 53367671 0 X http://iigf.ncigf.org/home X State Insurance Guaranty Association 1971 IL Protect policyholders of insurance companies doing business in Illinois against loss in the event of insolvency of the insurance company. 9 9 15 0 0 0 0 0 21773641 53221508 917904 146163 0 0 22691545 53367671 0 0 0 0 2092743 2000839 0 0 0 27320550 38743626 29413293 40744465 -6721748 12623206 117513595 116280261 19408793 5317985 98104802 110962276 To protect against loss, due to insolvency of insurance companies, of the coverage and unearned premiums of policyholders of insurance companies writing business in the State of Illinois. 0 0 36887644 0 53221508 The Illinois Insurance Guaranty Fund is a statutorily mandated organization which paid, when legally due, all covered claims as defined by statute, and otherwise fully discharged its statutory obligation in accordance with Illinois law. 0 0 0 36887644 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 298 0 1 15 1 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X Timothy Schotke 3124229700 120 South La Salle Street Suite 1910 Chicago IL 60603 Brad Roeber Chairman 0 0 X 0 0 0 John Mathews Director 0 0 X 0 0 0 Stacie Graham Director 0 0 X 0 0 0 Joyce Hall Mellinger Director 0 0 X 0 0 0 Cathy Wallace Director 0 0 X 0 0 0 John Washburn Director 0 0 X 0 0 0 Randy Seiner Director 0 0 X 0 0 0 Michelle Miller Director 0 0 X 0 0 0 Miles Kilcoin Director 0 0 X 0 0 0 Anne A Sharp Executive Director 40 0 X X X 246366 0 46999 Timothy Schotke Controller 40 0 X X 105644 0 35979 Gregory Jankowski Claims Director 40 0 X 127346 0 41370 Raymond L Fleming Claims Director 40 0 X 158168 0 44317 Gerald Gorak Claims Examiner 40 0 X 104047 0 25334 741571 0 193999 5 0 1 0 Locke Lord LLP 111 South Wacker Drive Chicago IL 60606 Legal Services 1164029 Lightspeed Data Solutions Inc 6330 San Vicente Boulevard Suite 245 Los Angeles CA 90048 Technology consulting 242032 JP Morgan Chase Bank NA 21591 Network Place Chicago IL 60673 Financial services 134972 National Conference of Insurance Guaranty Funds 300 N Meridian St Suite 1020 Indianapolis IN 46204 Industry Association 117407 Professional Staffing Services PO Box 82 West Dundee IL 60118 Temporary Staffing 112803 6 0 0 0 0 0 0 0 0 Membership Assessments 524298 43300000 43300000 0 0 Advances from Liquidators 524298 9921508 9921508 0 0 0 0 0 0 53221508 146163 146163 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 53367671 53367671 0 0 0 0 0 0 0 0 0 0 930461 0 930461 0 0 0 0 0 641846 0 641846 0 95820 0 95820 0 231419 0 231419 0 101293 0 101293 0 0 0 0 0 1199761 629607 570154 0 106175 0 106175 0 0 0 0 0 0 0 232403 0 232403 0 117985 0 117985 0 0 0 0 0 79705 2224 77481 0 266226 0 266226 0 0 0 0 0 265926 0 265926 0 34909 0 34909 0 0 0 0 0 3949 0 3949 0 0 0 0 0 0 0 0 0 12322 0 12322 0 32382 0 32382 0 Refund Member Assessments 22872511 22872511 0 0 Claims Payments to Policy Holders 13375949 13375949 0 0 Unearned Premium Payments 7353 7353 0 0 Membership Dues and Misc Expenses 136070 0 136070 0 0 0 0 0 40744465 36887644 3856821 0 0 2097677 74449533 5142391 0 0 153440 20000000 0 0 0 0 0 0 0 0 25745 39401 456860 417955 37299 38905 0 0 0 0 42442115 88634653 0 0 405463 327234 117513595 116280261 2460330 2588176 0 0 0 0 0 0 0 0 0 0 0 0 0 0 16948463 2729809 19408793 5317985 X 0 0 0 0 98104802 110962276 98104802 110962276 117513595 116280261 X 12623206 0 0 0 234268 0 X 0 1 X 1 0 0 0 0 0 0 0 0 0 34384 34384 0 0 422476 383571 38905 0 0 0 0 38905 U.S. Government Obligations 26433320 F Non-U.S. Government Obligations 2912832 F Mortage-backed Securities 44478329 F Asset-backed Securities 3853707 F Corporate Obligations 10956465 F 88634653 0 Return Assessment Payable - Other Account 1981899 Return Assessment Payable - Auto Account 264234 Outstanding Checks Payable 483676 2729809 53795160 0 0 0 427489 427489 53367671 0 0 0 53367671 41171954 0 0 0 0 0 41171954 0 -427489 -427489 40744465 Schedule D, Part X, Line 1 The Guaranty Fund is exempt from federal income taxes under Internal Revenue Code Section 501(c)(6) and from state income taxes under the provision of Illinois statute, except for taxes applied to unrelated business income. The Guaranty Fund has no unrelated business income and has therefore made no provision for federal or state income taxes in its financial statements. Schedule D, Part XI, Line 2d This amount represents expense recoveries. Schedule D, Part XII, Line 4b This amount represents expense recoveries. X X X 0 0 0 Anne A Sharp Executive Director 242294 0 0 0 4072 0 37257 0 9742 0 293365 0 285198 0 Raymond L Fleming Claims Director 155800 0 0 0 2368 0 23966 0 20351 0 202485 0 188499 0 Gregory Jankowski Claims Director 126262 0 0 0 1084 0 19719 0 21651 0 168716 0 154512 0 Timothy Schotke Controller 105483 0 0 0 161 0 16308 0 6904 0 128856 0 102419 0 Gerald Gorak Claims Examiner 103221 0 0 0 826 0 15904 0 9430 0 129381 0 122058 0 Form 990, Part VI, Section A, Line 6 Members are the 1076 insurance companies licensed to write Property/Casualty insurance in the State of Illinois. Form 990, Part VI, Section A, Line 7a Member companies elect directors at the annual meeting to serve three-year non-concurrent terms. The election is conducted on the basis of one vote for each member company. Vacancies on the Board are filled by a person elected by the remaining directors for the balance of the term of the vacating director. All directors are subject to the approval of the Director of Insurance of the State of Illinois. Form 990, Part VI, Section A, Line 7b This applies only to the approval of directors. Upon election to the Board of Directors and upon filling a vacancy on the Board, the organization notifies the Director of Insurance and requests his written approval. If within ten days following such notification and request, the Director does not approve or disapprove the directors elected, the directors shall be deemed approved. Form 990, Part VI, Section A, Line 8b All committee meetings have counsel in attendance to advise on antitrust matters, but no formal minutes are maintained unless matters of significance are discussed. Committee deliberations and recommendations are fully reported to the Board at the next meeting as appropriate. Form 990, Part VI, Section B, Line 11b Form 990 is reviewed by the General Counsel and outside counsel. After this legal review, the Form 990 is provided for review to each Board member not less than seven days prior to filing. A special teleconference meeting of the Board is then convened to deliberate and resolve any questions, if necessary. Form 990, Part VI, Section B, Line 12c Directors, officers and key employees are required to submit compliance statements at the time of the annual meeting. The Legal Committee of the Board reviews these statements to ensure compliance with the policy. Form 990, Part VI, Section B, Line 15 The administration Committee of the Board reviews salary increase recommendations for all staff. These recommendations are based on statistics from the U.S. Department of Labor and other relevant salary forecasts. The Committee reports to the Board for approval at the December meeting. Form 990, Part VI, Section C, Line 19 All governing documents and annual audited financial statements are on file with the organization's state regulator, the Illinois Department of Insurance, and are available there as public documents. The conflict of interest policy is available by contacting Illinois Insurance Guaranty Fund. Form 990, Part XI, Line 9 This amount represents a reserve for uncollectable assessments which reduces Net Assessments Receivable and is reported in Illinois Insurance Guaranty Fund's audited financial statements as Net Assessments Payable.