GUARANTY ASSOCIATION BENEFITS COMPANY: Form 990, tax year 2018

View the entire original 990 at ProPublica ↗

Organization: GUARANTY ASSOCIATION BENEFITS COMPANY (EIN 45-3635388)
Tax period: 2018-01-01 to 2018-12-31
Filed: 2019-07-25
IRS object ID: 201942069349301114
Schema version: 2018v3.1
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule D
Schedule J
Schedule L
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2019-07-25T15:22:39-05:00	ReturnTs
Tax Period End	2018-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	EISNERAMPER LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	111 WOOD AVE SO STE 600	AddressLine1Txt
City	ISELIN	CityNm
State Abbreviation	NJ	StateAbbreviationCd
ZIP	088302700	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2018-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	453635388	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	GUARANTY ASSOCIATION BENEFITS COMPANY	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
In Care Of	% LYNDA G LOOMIS	InCareOfNm
Business Name Control	GUAR	BusinessNameControlTxt
Phone	2068024575	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	c/o FAEGREBD 1050 K ST NW Suite 40	AddressLine1Txt
City	WASHINGTON	CityNm
State Abbreviation	DC	StateAbbreviationCd
ZIP	20001	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	LYNDA G LOOMIS	PersonNm
Person Title	Vice pres OPERATIONS	PersonTitleTxt
Phone	2068024575	PhoneNum
Signature	2019-07-26	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	MICHAEL SOMER	PreparerPersonNm
PTIN	P00094591	PTIN
Phone	7322437000	PhoneNum
Preparation	2019-07-26	PreparationDt

Filing Security Information FilingSecurityInformation

IP Address IPAddress

Field	Value	IRS element (for citing)
I Pv4 Address	64.238.150.4	IPv4AddressTxt

Field	Value	IRS element (for citing)
Federal Original Submission Id	20870020192065000039	FederalOriginalSubmissionId
Federal Original Submission Id	2019-07-25	FederalOriginalSubmissionIdDt
Filing License Type	P	FilingLicenseTypeCd
At Submission Creation Device Id	49F7569301958E9F33B446727B4FD0EA5357947F	AtSubmissionCreationDeviceId
At Submission Filing Device Id	49F7569301958E9F33B446727B4FD0EA5357947F	AtSubmissionFilingDeviceId

Field	Value	IRS element (for citing)
Tax	2018	TaxYr
Build TS	2019-02-21 02:37:17Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	LYNDA G LOOMIS	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	c/o FAEGREBD 1050 K ST NW400	AddressLine1Txt
City	WASHINGTON	CityNm
State Abbreviation	DC	StateAbbreviationCd
ZIP	20001	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$61,227,282	GrossReceiptsAmt
Group Return For Affiliates	false	GroupReturnForAffiliatesInd
Organization501c	Yes (X)	Organization501cInd
Website Address	WWW.GABENEFITSCO.COM	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	2011	FormationYr
Legal Domicile State	DC	LegalDomicileStateCd
Activity Or Mission	SEE SCHEDULE O	ActivityOrMissionDesc
Voting Members Governing Body	7	VotingMembersGoverningBodyCnt
Voting Members Independent	7	VotingMembersIndependentCnt
Total Employee	0	TotalEmployeeCnt
Total Volunteers	0	TotalVolunteersCnt
Total Gross UBI	$0	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$0	PYContributionsGrantsAmt
CY Contributions Grants	$0	CYContributionsGrantsAmt
PY Program Service Revenue	$0	PYProgramServiceRevenueAmt
CY Program Service Revenue	$0	CYProgramServiceRevenueAmt
PY Investment Income	$64,056,801	PYInvestmentIncomeAmt
CY Investment Income	$61,210,987	CYInvestmentIncomeAmt
PY Other Revenue	$160,735	PYOtherRevenueAmt
CY Other Revenue	$16,295	CYOtherRevenueAmt
PY Total Revenue	$64,217,536	PYTotalRevenueAmt
CY Total Revenue	$61,227,282	CYTotalRevenueAmt
PY Grants And Similar Paid	$0	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$0	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$432,674	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$475,867	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$62,500,093	PYOtherExpensesAmt
CY Other Expenses	$56,555,670	CYOtherExpensesAmt
PY Total Expenses	$62,932,767	PYTotalExpensesAmt
CY Total Expenses	$57,031,537	CYTotalExpensesAmt
PY Revenues Less Expenses	$1,284,769	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$4,195,745	CYRevenuesLessExpensesAmt
Total Assets BOY	$1,543,378,366	TotalAssetsBOYAmt
Total Assets EOY	$1,504,883,273	TotalAssetsEOYAmt
Total Liabilities BOY	$1,456,868,416	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$1,412,650,747	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$86,509,950	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$92,232,526	NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part III	Yes (X)	InfoInScheduleOPartIIIInd
Mission	THE ORGANIZATION OPERATES TO PROTECT, IN ACCORDANCE WITH A COURT-APPROVED LIQUIDATION PLAN, INDIVIDUALS RELYING UPON ANNUITIES ISSUED BY INSOLVENT EXECUTIVE LIFE INSURANCE COMPANY OF NEW YORK, IN FURTHERANCE OF THE COMMON INTERESTS OF THE STATE GUARANTY ASSOCIATIONS AND THEIR MEMBERS.	MissionDesc
Significant New Program Srvc	false	SignificantNewProgramSrvcInd
Significant Change	false	SignificantChangeInd
Expense	$76,616,321	ExpenseAmt
Desc	The Organization operates to protect, in accordance with a court-approved liquidation plan, individuals relying upon annuities issued by insolvent Executive Life Insurance Company of New York ("ELNY"), in furtherance of the common interests of the state guaranty associations and their members. The Organization's obligations commenced on August 8, 2013, when the order of liquidation against ELNY became effective. The organization met its obligations in 2018 by providing annuity benefit payments in the amounts set forth above.	Desc
Total Program Service Expenses	$76,616,321	TotalProgramServiceExpensesAmt
Described In Section501c3	false	DescribedInSection501c3Ind
Schedule B Required	false	ScheduleBRequiredInd
Political Campaign Acty	false	PoliticalCampaignActyInd
Subject To Proxy Tax	false	SubjectToProxyTaxInd
Donor Advised Fund	false	DonorAdvisedFundInd
Conservation Easements	false	ConservationEasementsInd
Collections Of Art	false	CollectionsOfArtInd
Credit Counseling	false	CreditCounselingInd
Temp Or Permanent Endowments	false	TempOrPermanentEndowmentsInd
Report Land Building Equipment	Yes (true)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	false	ReportInvestmentsOtherSecInd
Report Program Related Invst	false	ReportProgramRelatedInvstInd
Report Other Assets	false	ReportOtherAssetsInd
Report Other Liabilities	Yes (true)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	Yes (true)	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	Yes (true)	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	false	ConsolidatedAuditFinclStmtInd
School Operating	false	SchoolOperatingInd
Foreign Office	false	ForeignOfficeInd
Foreign Activities	false	ForeignActivitiesInd
More Than5000 K To Org	false	MoreThan5000KToOrgInd
More Than5000 K To Individuals	false	MoreThan5000KToIndividualsInd
Professional Fundraising	false	ProfessionalFundraisingInd
Fundraising Activities	false	FundraisingActivitiesInd
Gaming Activities	false	GamingActivitiesInd
Operate Hospital	false	OperateHospitalInd
Grants To Organizations	false	GrantsToOrganizationsInd
Grants To Individuals	false	GrantsToIndividualsInd
Schedule J Required	Yes (true)	ScheduleJRequiredInd
Tax Exempt Bonds	false	TaxExemptBondsInd
Loan Outstanding	false	LoanOutstandingInd
Grant To Related Person	false	GrantToRelatedPersonInd
Business Rln With Org Mem	Yes (true)	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	false	BusinessRlnWithFamMemInd
Business Rln With Officer Ent	Yes (true)	BusinessRlnWithOfficerEntInd
Deductible Non Cash Contri	false	DeductibleNonCashContriInd
Deductible Art Contribution	false	DeductibleArtContributionInd
Terminate Operations	false	TerminateOperationsInd
Partial Liquidation	false	PartialLiquidationInd
Disregarded Entity	false	DisregardedEntityInd
Related Entity	false	RelatedEntityInd
Related Organization Ctrl Ent	false	RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp	false	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (true)	ScheduleORequiredInd
IRP Document	9	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (true)	BackupWthldComplianceInd
Employee	0	EmployeeCnt
Unrelated Bus Incm Over Limit	false	UnrelatedBusIncmOverLimitInd
Foreign Financial Account	false	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Taxable Party Notification	false	TaxablePartyNotificationInd
Nondeductible Contributions	false	NondeductibleContributionsInd
Indoor Tanning Services	false	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	false	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	false	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	7	GoverningBodyVotingMembersCnt
Independent Voting Member	7	IndependentVotingMemberCnt
Family Or Business Rln	false	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	false	DelegationOfMgmtDutiesInd
Change To Org Documents	Yes (true)	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	false	MaterialDiversionOrMisuseInd
Members Or Stockholders	Yes (true)	MembersOrStockholdersInd
Election Of Board Members	Yes (true)	ElectionOfBoardMembersInd
Decisions Subject To Approva	Yes (true)	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (true)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (true)	MinutesOfCommitteesInd
Officer Mailing Address	false	OfficerMailingAddressInd
Local Chapters	false	LocalChaptersInd
Form990 Provided To Gvrn Body	Yes (true)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (true)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (true)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (true)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (true)	WhistleblowerPolicyInd
Document Retention Policy	Yes (true)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (true)	CompensationProcessCEOInd
Compensation Process Other	Yes (true)	CompensationProcessOtherInd
Investment In Joint Venture	false	InvestmentInJointVentureInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Field	Value	IRS element (for citing)
Person	LYNDA G LOOMIS	PersonNm
Phone	2068024575	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	C/O FAEGREBD 1050 K ST NW STE 400	AddressLine1Txt
City	washington	CityNm
State Abbreviation	DC	StateAbbreviationCd
ZIP	20001	ZIPCd

Field	Value	IRS element (for citing)
Info In Schedule O Part VII	Yes (X)	InfoInScheduleOPartVIIInd

Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	OfficerOfficerInd
DEBORAH A BELLO
DIRECTOR-MEMBER ELECTED	1.0	0.0	Yes (X)	$0	$0	$0
THOMAS F ENGLISH
DIRECTOR-MEMBER ELECted	1.0	0.0	Yes (X)	$0	$0	$0
KEVIN J RASCH
DIR-MEM through 5/24/18	1.0	0.0	Yes (X)	$0	$0	$0
PAMELA E OLSEN
DIR-MEM through 10/17/18	5.0	0.0	Yes (X)	$0	$0	$0
JOHN J FALKENBACH
DIRECTOR,chairman, secretary	12.0	0.0	Yes (X)	$0	$0	$0	Yes (X)
PETER G GALLANIS
DIRECTOR, president	10.0	0.0	Yes (X)	$84,221	$0	$13,527	Yes (X)
JAMES F DONNELLAN
DIRECTOR-MEMBER ELECTED	1.0	0.0	Yes (X)	$0	$0	$0
John E Deitelbaum
DIR-MEM elected 7/6/2018	1.0	0.0	Yes (X)	$0	$0	$0
G Thomas Sullivan
DIR-MEM ELECTED 10/18/2018	5.0	0.0	Yes (X)	$0	$0	$0
Michael Marchman
TREASURER through 12/30/18	5.0	0.0		$0	$0	$0	Yes (X)
LYNDA G LOOMIS
VICE PRESIDENT OPERATIONS	23.0	0.0		$378,120	$0	$0	Yes (X)
John C Colpean
TREASURER EFFECTIVE 12/31/2018	10.0	0.0		$0	$0	$0	Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$462,341	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$13,527	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	1	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	false	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	Yes (true)	TotalCompGreaterThan150KInd
Compensation From Other Srcs	Yes (true)	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1Txt	CityContractorAddress/USAddress/CityNm	State AbbreviationContractorAddress/USAddress/StateAbbreviationCd	ZIPContractorAddress/USAddress/ZIPCd	ServicesServicesDesc	CompensationCompensationAmt
faegre baker daniels LLP
300 N Meridian Street Suite 2700	INDIANAPOLIS	IN	46204	legal services	$755,585
nisa investment advisors llc
150 n meramec avenue SUITE 640	ST LOUIS	MO	63105	investment advisors	$1,010,132
Towers Watson DELAWARE Inc
71 SOUTH WACKER DRIVE	CHICAGO	IL	60606	Actuarial Services	$503,030
Legal General Invest Mgmt Americ
PO BOX 7247-7057	PHIILADELPHIA	PA	19170	Investment Mgmt.	$1,626,760
LYNDA G LOOMIS
920 I Street NW 406	WASHINGTON	DC	20001	VP OF OPERATIONS	$378,120

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	10	CntrctRcvdGreaterThan100KCnt
Total Contributions	$0	TotalContributionsAmt
Total Program Service Revenue	$0	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$61,210,987	TotalRevenueColumnAmt
Exclusion	$61,210,987	ExclusionAmt

Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Royalties Revenue RoyaltiesRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Rental Income Or Loss RentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Real	$0	RealAmt
Personal	$0	PersonalAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Field	Value	IRS element (for citing)
Fundraising Gross Income	$0	FundraisingGrossIncomeAmt
Fundraising Direct Expenses	$0	FundraisingDirectExpensesAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Field	Value	IRS element (for citing)
Gaming Gross Income	$0	GamingGrossIncomeAmt
Gaming Direct Expenses	$0	GamingDirectExpensesAmt

Net Income From Gaming NetIncomeFromGamingGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Field	Value	IRS element (for citing)
Gross Sales Of Inventory	$0	GrossSalesOfInventoryAmt
Cost Of Goods Sold	$0	CostOfGoodsSoldAmt

Net Income Or Loss NetIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Other Revenue Misc OtherRevenueMiscGrp

Field	Value	IRS element (for citing)
Desc	OTHER INCOME	Desc
Total Revenue Column	$16,295	TotalRevenueColumnAmt
Exclusion	$16,295	ExclusionAmt

Field	Value	IRS element (for citing)
Other Revenue Total	$16,295	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$61,227,282	TotalRevenueColumnAmt
Exclusion	$61,227,282	ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Foreign Grants ForeignGrantsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Benefits To Members BenefitsToMembersGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$475,867	TotalAmt

Comp Disqual Persons CompDisqualPersonsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Fees For Services Management FeesForServicesManagementGrp

Field	Value	IRS element (for citing)
Total	$308,698	TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$669,542	TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$342,700	TotalAmt

Fees For Services Lobbying FeesForServicesLobbyingGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Fees For Services Prof Fundraising FeesForServicesProfFundraising

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

Field	Value	IRS element (for citing)
Total	$2,827,538	TotalAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$519,595	TotalAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$57,616	TotalAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Royalties RoyaltiesGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$5,956	TotalAmt

Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Payments To Affiliates PaymentsToAffiliatesGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$1,354	TotalAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$349,614	TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt
ANNUITY BENEFITS PAYMENTS	$76,616,321
CHANGES IN ANNUITY RESERVES	-$19,919,099
DATA PROCESSING	$57,746
LICENSES AND PERMITS	$150,158

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	-$5,432,069	TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$57,031,537	TotalAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part X	Yes (X)	InfoInScheduleOPartXInd

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$38,057,195	BOYAmt
EOY	$26,487,112	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$262,781	BOYAmt
EOY	$304,982	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$13,826	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$12,960	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$2,220	BOYAmt
EOY	$866	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$1,491,688,574	BOYAmt
EOY	$1,451,284,415	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Intangible Assets IntangibleAssetsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$13,367,596	BOYAmt
EOY	$26,805,898	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$1,543,378,366	BOYAmt
EOY	$1,504,883,273	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$12,802,264	BOYAmt
EOY	$16,762,488	EOYAmt

Grants Payable GrantsPayableGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Deferred Revenue DeferredRevenueGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Escrow Account Liability EscrowAccountLiabilityGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Loans From Officers Directors LoansFromOfficersDirectorsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$1,444,066,152	BOYAmt
EOY	$1,395,888,259	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$1,456,868,416	BOYAmt
EOY	$1,412,650,747	EOYAmt

Field	Value	IRS element (for citing)
Org Does Not Follow SFAS117	Yes (X)	OrgDoesNotFollowSFAS117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

Field	Value	IRS element (for citing)
BOY	$100,443,626	BOYAmt
EOY	$100,443,626	EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

Field	Value	IRS element (for citing)
BOY	-$13,933,676	BOYAmt
EOY	-$8,211,100	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$86,509,950	BOYAmt
EOY	$92,232,526	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$1,543,378,366	BOYAmt
EOY	$1,504,883,273	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	$4,195,745	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	$1,526,831	NetUnrlzdGainsLossesInvstAmt
Info In Schedule O Part XII	Yes (X)	InfoInScheduleOPartXIIInd
Method Of Accounting Other	Yes (X)	MethodOfAccountingOtherInd
Accountant Compile Or Review	false	AccountantCompileOrReviewInd
FS Audited	Yes (true)	FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

Field	Value	IRS element (for citing)
Separate Basis Fincl Stmt	Yes (X)	SeparateBasisFinclStmtInd

Field	Value	IRS element (for citing)
Audit Committee	Yes (true)	AuditCommitteeInd
Federal Grant Audit Required	false	FederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Art Public Exhibition Amounts		ArtPublicExhibitionAmountsGrp
Held Works Art		HeldWorksArtGrp
CY Minus3 Yr Endwmt Fund		CYMinus3YrEndwmtFundGrp
CY Minus4 Yr Endwmt Fund		CYMinus4YrEndwmtFundGrp
Land		LandGrp
Buildings		BuildingsGrp
Leasehold Improvements		LeaseholdImprovementsGrp

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$13,826	OtherCostOrOtherBasisAmt
Depreciation	$12,960	DepreciationAmt
Book Value	$866	BookValueAmt

Field	Value	IRS element (for citing)
Other Land Buildings		OtherLandBuildingsGrp
Total Book Value Land Buildings	$866	TotalBookValueLandBuildingsAmt
Federal Income Tax Liability	$0	FederalIncomeTaxLiabilityAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDesc	AmtAmt
AGGREGATE LIFE RESERVE	$1,283,681,473
INTEREST MAINTENANCE RESERVE	$112,206,786

Field	Value	IRS element (for citing)
Total Liability	$1,395,888,259	TotalLiabilityAmt
Footnote Text	Yes (X)	FootnoteTextInd
Total Rev Etc Audited Fincl Stmt	$58,399,744	TotalRevEtcAuditedFinclStmtAmt
Revenue Subtotal	$58,399,744	RevenueSubtotalAmt
Other Revenues Not Included	$2,827,538	OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt	$2,827,538	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	$61,227,282	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$54,203,999	TotExpnsEtcAuditedFinclStmtAmt
Expenses Subtotal	$54,203,999	ExpensesSubtotalAmt
Other Expenses Not Included	$2,827,538	OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt	$2,827,538	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$57,031,537	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
SCHEDULE D, PART XI, LINE 4b	INVESTMENT MANAGEMENT FEES: $2,621,093 CUSTODY FEES-US BANK: $ 206,445
SCHEDULE D, PART XII, LINE 4B	INVESTMENT MANAGEMENT FEES: $2,621,093 CUSTODY FEES-US BANK: $ 206,445
schedule d, part x, line 2	GABC HAS BEEN CLASSIFIED BY THE INTERNAL REVENUE SERVICE (THE "IRS") AS A NON-PROFIT ORGANIZATION DESCRIBED UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE, AND THEREFORE IS EXEMPT FROM FEDERAL INCOME TAXES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY GABC, AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2018 AND 2017, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE SPECIAL-PURPOSE FINANCIAL STATEMENTS. GABC RECOGNIZES ACCRUED INTEREST AND PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS, IF ANY AS AN OPERATING EXPENSE. THERE WAS NO INCOME TAX-RELATED INTEREST OR PENALTIES RECORDED FOR THE PERIODS ENDED DECEMBER 31, 2018 AND 2017.

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Severance Payment	false	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	false	SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm	false	EquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)

TitleTitleTxt	Base Compensation Filing OrgBaseCompensationFilingOrgAmt	Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt	Total Compensation Filing OrgTotalCompensationFilingOrgAmt
PETER G GALLANIS
DIRECTOR, president	$84,221	$11,186	$2,341	$97,748
LYNDA G LOOMIS
VICE PRESIDENT OPERATIONS	$378,120			$378,120

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	Part II, Line 1	FormAndLineReferenceDesc
Explanation	The Organization's president, which is its top management official, is not compensated directly by the Organization. The Organization's president is also the president of the National Organization of Life and Health Insurance Guaranty Associations ("NOLHGA") which is an unrelated entity. The Organization has entered into an agreement with NOLHGA for various services to be provided to the Organization by NOLHGA (e.g., maintaining a computer server and website for the Organization and oversight and tracking of the Organization's administrative costs and expenses, etc.). The services provided to the Organzization under the agreement also include advice and leadership by NOLHGA's president, who also serves as president of the Organization. An appropriate portion of the time spent on the Organization's behalf by NOLHGA's president is charged to the Organization. Thus, the organization's president receives no additional compensation for serving as the organization's president, but the organization reimburses NOLHGA for the portion of time NOLHGA's president devotes to the organization. The terms of the agreement were negotiated on behalf of the Organization by its outside counsel, with oversight by the Chairman of the Board. Once final, the agreement was presented to and approved by the Organization's Board.	ExplanationTxt

Schedule L IRS990ScheduleL

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (2 entries)

Relationship DescriptionRelationshipDescriptionTxt	TransactionTransactionAmt	TransactionTransactionDesc	Sharing Of RevenuesSharingOfRevenuesInd
LYNDA G LOOMIS
VICE PRESIDENT OPERATIONS	$378,120	SEE SUPPLEMENTAL INFORMATION	false
PETER G GALLANIS
DIRECTOR, PRESIDENT	$97,748	SEE SUPPLEMENTAL INFORMATION	false

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
SCHEDULE L, PART IV, LINE 1D	The Vice President Operations is a non-employee officer that is compensated under a service contract. The Organization's President and Chairman oversaw the negotiation of the service contract on behalf of the Organization. Both the President and the Chairman are familiar with the services the Vice President of operations is obligated to provide under the service contract and the cost of similar services provided to state life and health insurance guaranty associations, which are similar to the Organization.
SCHEDULE L, PART IV, LINE 2D	The Organization's president, which is its top management official, is not compensated directly by the Organization. The Organization's president is also the president of the National Organization of Life and Health Insurance Guaranty Associations ("NOLHGA"). The Organization has entered into an agreement with NOLHGA for various services to be provided to the Organization by NOLHGA (e.g., maintaining a computer server and website for the Organization and oversight and tracking of the Organization's administrative costs and expenses, etc.). The services provided to the Organzization under the agreement also include advice and leadership by NOLHGA's president, who also serves as president of the Organization. An appropriate portion of the time spent on the Organization's behalf by NOLHGA's president is charged to the Organization. Thus, the organization's president receives no additional compensation for serving as the organization's president, but the organization reimburses NOLHGA for the portion of time NOLHGA's president devotes to the organization. The terms of the agreement were negotiated on behalf of the Organization by its outside counsel, with oversight by the Chairman of the Board. Once final, the agreement was presented to and approved by the Organization's Board.
SCHEDULE L, PART IV, LINE 2D	The organization operates to protect, in accordance with a court-approved liquidation plan, individuals relying upon annuities issued by insolvent Executive Life Insurance Company of New York ("ELNY"), in furtherance of the common interests of the state guaranty associations and their members. In that capacity, the organization is a party to various agreements, including an "Agreement of Restructuring" to which NOLHGA is a party, and Peter Gallanis (the Organization's president and a director) is the president of NOLHGA. The Organization is also a party to two other related agreements with 39 life insurance companies, including MetLife (director James Donnellan IS an officer), New York Life (director Tom English is an officer) and Prudential (director Deborah Bello IS AN officer). All of the transactions related to the ELNY liquidation, including all of the foregoing, closed as of August 8, 2013, when the liquidation order against ELNY became effective and the Organization commenced its operations.

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (11 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PART I, LINE 1	The organization operates to protect, in accordance with a court-approved liquidation plan, individuals relying upon annuities issued by insolvent Executive Life Insurance Company of New York, in furtherance of the common interests of the state guaranty associations and their members.
FORM 990, PART VI, SECTION A, LINE 6	The Organization is a non-stock, non-profit membership organization organized under the District of Columbia Nonprofit Corporation Act of 2010. Membership is restricted to the state life and health insurance guaranty associations that participated in the court-approved liquidation plan for Executive Life Insurance Company of New York.
FORM 990, PART VI, SECTION A, LINE 7A	The Organization's Members elect four (4) of the Organization's seven (7) Board members, but each person eligible for election to the Board by the Members must satisfy the requirements in the Organization's Bylaws.
FORM 990, PART VI, SECTION A, LINE 7B	The Organization's members retain the rights to approve all amendments to the Organization's articles of incorporation and to amend the Organizations bylaws. In addition, the Organization's members retain the rights provided under the District of Columbia Nonprofit Corporation Act of 2010 to approve certain extraordinary actions by the Organization (e.g. certain disposition of assets, dissolution or merger of the organization).
FORM 990, PART VI, SECTION B, LINE 11B	The Organization's management worked with the Organization's independent audit firm to complete the 990. The Organization's chairman caused the 990 to be circulated electronically to all board members after it was completed for their review and comments. The transmittal asked each Board member to notify the Chairman of any questions, comments or observations about the 990 within five (5) days, and advised the Board members that the Chairman would call a meeting of the Board if two or more Board members so requested. Any comments received from any Board member were considered prior to finalizing the 990. Any adjustments determined by the Chairman and the Organization's management to be warranted were made to the Form 990 before it was finalized and filed with the Internal Revenue Service.
FORM 990, PART VI, SECTION B, LINE 12C	Each year the Organization's outside counsel prepares a "Certificate of Compliance and Conflict of Interest Statement" that is presented to each director, officer and key personnel for execution. Outside counsel explains the reason for the statement. Outside counsel reviews the statements and evaluates any items that may be listed by the individuals to determine if a conflict might exist and would advise disinterested officers of the Organization if any actions would be advisable. Each "Certificate of Compliance and Conflict of Interest Statement" are made part of the Organization's official minute book.
FORM 990, PART VI, SECTION B, LINE 15A	The Organization's president, which is its top management official, is not compensated directly by the Organization. The Organization's president is also the president of the National Organization of Life and Health Insurance Guaranty Associations ("NOLHGA"). The Organization has entered into an agreement with NOLHGA for various services to be provided to the Organization by NOLHGA (e.g., maintaining a computer server and website for the Organization and oversight and tracking of the Organization's administrative costs and expenses, etc.). The services provided to the Organzization under the agreement also include advice and leadership by NOLHGA's president, who also serves as president of the Organization. An appropriate portion of the time spent on the Organization's behalf by NOLHGA's president is charged to the Organization. Thus, the organization's president receives no additional compensation for serving as the organization's president, but the organization reimburses NOLHGA for the portion of time NOLHGA's president devotes to the organization. The terms of the agreement were negotiated on behalf of the Organization by its outside counsel, with oversight by the Chairman of the Board. Once final, the agreement was presented to and approved by the Organization's Board.
FORM 990, PART VI, SECTION B, LINE 15B	The Organization's Vice President Operations is a non-employee officer that is compensated under a service contract. The Organization's President and Chairman oversaw the negotiation of the Service Contract on behalf of the Organization. Both the President and the Chairman are familiar with the services the Vice President of Operations is obligated to provide under the Service Contract and the cost of similar services provided to state life and health insurance guaranty associations.
FORM 990, PART VI, SECTION C, LINE 19	When appropriate, the Organization's relevant documents will be delivered in an agreed upon manner upon request.
FORM 990, PART XII, LINE 1	THE ACCOUNTING METHOD USED TO PREPARE FORM 990 IS THE BASIS USED TO COMPLY WITH REPORTING PROVISIONS SPECIFIED BY THE DISTRICT OF COLUMBIA DEPARTMENT OF INSURANCE, SECURITIES AND BANKING AND THE MODIFIED D.C. REPORTING BLANK. THIS BASIS ALSO DIFFERS FROM STATUTORY ACCOUNTING PRACTICES PER THE ACCOUNTING PRACTICES AND PROCEDURES MANUAL OF THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS.
FORM 990, PART VI, SECTION A, LINE 4	GABC amended its Bylaw effective October 19, 2018 to address specifically what will happen if any GABC board member who is subject to nomination by the Boards Nominating Committee under Bylaw Section 3.1(b) ceases to be qualified under that section after being nominated. While this may not be a significant change to the governing documents, it was approved by GABCs regulator, the DISB, and is disclosed.