Skip to content
ProPublica Donate
ProPublica Donate

Guaranty Association Benefits Company

  • Clinton, IA
  • Tax-exempt since Dec. 2011
  • EIN: 45-3635388

Organization summary

Type of Nonprofit

Designated as a Business leagues, chambers of commerce, real estate boards, etc, created for the improvement of business conditions.

Category: Community Improvement, Capacity Building / Promotion of Business (NTEE)

Donations to this organization are not tax deductible.

Details

According to its Dec. 2023 tax filing, this nonprofit:

Reported conflict of interest transactions
Organizations must report loans, grants or business transactions with interested parties, which may include key employees and officers, their family members and any businesses in which they hold a controlling interest. These transactions must be reported on Schedule L.

Summary charts: organization finances over time

Revenue
$59.1M (2023)

Expenses
$51.9M (2023)

Total Assets
$1.37B (2023)

Total Liabilities
$1.22B (2023)

Source: Form 990 tax filings from 2014 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$59,125,067
Expenses
$51,896,875
Net Income
$7,228,192
Net Assets
$145,698,611
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $58,696,102
99.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $428,965
0.7%
Notable Expenses Percent of Total Expenses
Executive Compensation $445,402
0.9%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,367,048,132
Total Liabilities $1,221,349,521
Net Assets $145,698,611
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Lynda G Loomis (Vice President Operations) $383,600 $0 $0
Peter G Gallanis Thru 82223 (Director, President) $54,807 $0 $3,755
Katherine L Wade Eff 82323 (Director, President) $3,226 $0 $14
James F Donnellan (Director Member Elected) $0 $0 $0
John E Deitelbaum (Director Member Elected) $0 $0 $0
Germaine L Marks (Director Member Elected) $0 $0 $0
John C Colpean (Director, Chairman) $0 $0 $0
Erik A Anderson (Director Member Elected) $0 $0 $0
Magaret Sperry (Director Member Elected) $0 $0 $0
G Thomas Sullivan (Secretary) $0 $0 $0
Pamela E Olsen (Treasurer) $0 $0 $0
+ View more people

Document Links

990
Filed on July 25, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$54,760,541
Expenses
$44,795,640
Net Income
$9,964,901
Net Assets
$139,730,419
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $54,707,370
99.9%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $1
0.0%
Net Inventory Sales $0
Other Revenue $53,170
0.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $451,170
1.0%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,517,979,734
Total Liabilities $1,378,249,315
Net Assets $139,730,419
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Lynda G Loomis (Vice President Operations) $348,563 $0 $0
Peter G Gallanis (Director, President) $96,304 $0 $6,304
James F Donnellan (Director Member Elected) $0 $0 $0
John E Deitelbaum (Director Member Elected) $0 $0 $0
G Thomas Sullivan (Secretary) $0 $0 $0
Germaine L Marks (Director Member Elected) $0 $0 $0
John C Colpean (Director, Chairman) $0 $0 $0
Erik A Anderson (Director Member Elected) $0 $0 $0
Pamela E Olsen (Treasurer) $0 $0 $0
Magaret Sperry (Director Member Elected) $0 $0 $0
+ View more people

Document Links

990
Filed on July 13, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$54,247,522
Expenses
$45,122,339
Net Income
$9,125,183
Net Assets
$129,838,530
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $52,395,571
96.6%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $1,851,951
3.4%
Notable Expenses Percent of Total Expenses
Executive Compensation $436,254
1.0%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,687,230,547
Total Liabilities $1,557,392,017
Net Assets $129,838,530
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Lynda G Loomis (Vice President Operations) $345,308 $0 $0
Peter G Gallanis (Director, President) $85,375 $0 $5,571
Thomas F English (Director Member Elect. Thru 10/24/21) $0 $0 $0
John J Falkenbach (Director Member Elect. Thru 10/24/21) $0 $0 $0
James F Donnellan (Director Member Elected) $0 $0 $0
John E Deitelbaum (Director Member Elected) $0 $0 $0
G Thomas Sullivan (Director, Secretary Elect. 10/27/21) $0 $0 $0
Germaine L Marks (Director Member Elected) $0 $0 $0
Erik A Anderson (Director Member Elected 10/25/21) $0 $0 $0
Magaret Sperry (Director Member Elected 10/25/21) $0 $0 $0
John C Colpean (Treasurer Thru 12/31/21, Chairman) $0 $0 $0
Pamela E Olsen (Treasurer Appointed 12/31/21) $0 $0 $0
+ View more people

Document Links

990
Filed on July 19, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$60,800,855
Expenses
$46,673,740
Net Income
$14,127,115
Net Assets
$121,025,695
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $59,870,874
98.5%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $2
0.0%
Net Inventory Sales $0
Other Revenue $929,979
1.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $406,522
0.9%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,654,485,818
Total Liabilities $1,533,460,123
Net Assets $121,025,695
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Lynda G Loomis (Vice President Operations) $340,632 $0 $0
Peter G Gallanis (Director, President) $61,592 $0 $4,298
Thomas F English (Director Member Ele Cted) $0 $0 $0
John J Falkenbach (Director, Chairman, Secretary) $0 $0 $0
James F Donnellan (Director Member Elected) $0 $0 $0
John E Deitelbaum (Di Rector Me Mber Elected) $0 $0 $0
G Thomas Sullivan (Di Rector Me Mber Elected) $0 $0 $0
Germaine L Marks (Di Rector Me Mber Elect. 6/30/20) $0 $0 $0
Deborah A Bello (Di Rector Me Mber Thru 6/30/20) $0 $0 $0
John C Colpean (Treasurer) $0 $0 $0
+ View more people

Document Links

990
Filed on June 11, 2021

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$63,951,811
Expenses
$57,478,583
Net Income
$6,473,228
Net Assets
$106,885,228
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $63,594,577
99.4%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $357,234
0.6%
Notable Expenses Percent of Total Expenses
Executive Compensation $429,648
0.7%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,563,909,790
Total Liabilities $1,457,024,562
Net Assets $106,885,228
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Lynda G Loomis (Vice President Operations) $348,512 $0 $0
Peter G Gallanis (Director, President) $76,028 $0 $5,108
Deborah A Bello (Director Member Elected) $0 $0 $0
Thomas F English (Director Member Ele Cted) $0 $0 $0
John J Falkenbach (Director,Chairman, Secretary) $0 $0 $0
James F Donnellan (Director Member Elected) $0 $0 $0
John E Deitelbaum (Di Rector Me Mber Elected) $0 $0 $0
G Thomas Sullivan (Di Rector Me Mber Elected) $0 $0 $0
John C Colpean (Treasurer) $0 $0 $0
+ View more people

Document Links

990
Filed on July 30, 2020

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$61,227,282
Expenses
$57,031,537
Net Income
$4,195,745
Net Assets
$92,232,526
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $61,210,987
100.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $16,295
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $475,867
0.8%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,504,883,273
Total Liabilities $1,412,650,747
Net Assets $92,232,526
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Lynda G Loomis (Vice President Operations) $378,120 $0 $0
Peter G Gallanis (Director, President) $84,221 $0 $13,527
Deborah A Bello (Director Member Elected) $0 $0 $0
Thomas F English (Director Member Ele Cted) $0 $0 $0
Kevin J Rasch (Dir Mem Through 5/24/18) $0 $0 $0
Pamela E Olsen (Dir Mem Through 10/17/18) $0 $0 $0
John J Falkenbach (Director,Chairman, Secretary) $0 $0 $0
James F Donnellan (Director Member Elected) $0 $0 $0
John E Deitelbaum (Dir Mem Elected 7/6/2018) $0 $0 $0
G Thomas Sullivan (Dir Mem Elected 10/18/2018) $0 $0 $0
Michael Marchman (Treasurer Through 12/30/18) $0 $0 $0
John C Colpean (Treasurer Effective 12/31/2018) $0 $0 $0
+ View more people

Document Links

990
Filed on July 25, 2019

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$64,217,536
Expenses
$62,932,767
Net Income
$1,284,769
Net Assets
$86,509,950
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $64,056,801
99.7%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $160,735
0.3%
Notable Expenses Percent of Total Expenses
Executive Compensation $432,674
0.7%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,543,378,366
Total Liabilities $1,456,868,416
Net Assets $86,509,950
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Lynda G Loomis (Vice President Operations) $362,852 $0 $0
Peter G Gallanis (Director, President) $60,402 $0 $9,420
Deborah A Bello (Director Member Elected) $0 $0 $0
Thomas F English (Director Member Ele Cted) $0 $0 $0
Kevin J Rasch (Dir Mem Elected 1/5/2017) $0 $0 $0
Pamela E Olsen (Director Member Elected) $0 $0 $0
John J Falkenbach (Director,Chairman, Secretary) $0 $0 $0
James F Donnellan (Dir Mem Elected 10/17/2017) $0 $0 $0
Nancy S Davenport (Dir Mem Through 9/1/2017) $0 $0 $0
Michael Marchman (Treasurer) $0 $0 $0
+ View more people

Document Links

990
Filed on July 27, 2018

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$66,604,812
Expenses
$69,080,152
Net Income
-$2,475,340
Net Assets
$81,644,029
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $66,604,812
100%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $597,066
0.9%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,493,538,200
Total Liabilities $1,411,894,171
Net Assets $81,644,029
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Lynda G Loomis (Vice President Operations) $396,664 $0 $0
Fred A Buck (Former Vp Ope Rations(thru4/16)) $125,000 $0 $0
Peter G Gallanis (Director, President) $64,853 $0 $10,549
Deborah A Bello (Director Member Elected) $0 $0 $0
Thomas F English (Director Member Ele Cted) $0 $0 $0
Merle T Pederson (Dir Mem Elected (Thru 10/16)) $0 $0 $0
Pamela E Olsen (Director Member Elected) $0 $0 $0
John J Falkenbach (Director,Chairman, Secretary) $0 $0 $0
Nancy S Davenport (Director Member Elected) $0 $0 $0
Michael Marchman (Treasurer) $0 $0 $0
+ View more people

Document Links

990
Filed on July 28, 2017

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$96,682,788
Expenses
$78,985,422
Net Income
$17,697,366
Net Assets
$154,632,746
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $68,604,077
71.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $28,078,711
29.0%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $463,111
0.6%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,534,328,612
Total Liabilities $1,379,695,866
Net Assets $154,632,746
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Fred A Buck (Vice President Operations) $278,045 $0 $0
Lynda G Loomis (Vice President Operations) $97,785 $0 $0
Peter G Gallanis (Director Ex Officio, President) $85,591 $0 $1,690
Deborah A Bello (Director Member Elected) $0 $0 $0
Thomas F English (Director Member Ele Cted) $0 $0 $0
Merle T Pederson (Director Member Elected) $0 $0 $0
Pamela E Olsen (Director Ex Officio) $0 $0 $0
John J Falkenbach (Director,Chairman, Secretary) $0 $0 $0
Nancy S Davenport (Director Member Elected) $0 $0 $0
Michael Marchman (Treasurer) $0 $0 $0
+ View more people

Document Links

990
Filed on July 18, 2016

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$131,635,489
Expenses
$77,392,515
Net Income
$54,242,974
Net Assets
$137,158,256
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $71,334,183
54.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $60,301,306
45.8%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $332,268
0.4%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,565,793,005
Total Liabilities $1,428,634,749
Net Assets $137,158,256
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Fred A Buck (Vice President Operations) $250,107 $0 $0
Deborah A Bello (Director Member Elected) $0 $0 $0
Thomas F English (Director Member Ele Cted) $0 $0 $0
Merle T Pederson (Director Member Elected) $0 $0 $0
John C Colpean (Director Ex Officio) $0 $0 $0
John J Falkenbach (Director,Chairman, Secretary) $0 $0 $0
Peter G Gallanis (Director Ex Officio, President) $0 $0 $82,161
Nancy S Davenport (Director Member Elected) $0 $0 $0
Michael Marchman (Treasurer) $0 $0 $0
+ View more people

Document Links

990
Filed on Aug. 12, 2015

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2013

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

About This Data

What Is This Data?

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
  • Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

API

The data powering this website is available programmatically, via an API. Read the API documentation »

See an issue with the data?

Contact Us

About Nonprofit Explorer

Nonprofit Explorer

Browse millions of annual returns filed by tax-exempt organizations with ProPublica’s Nonprofit Explorer. See details like executive compensation, revenue, expenses and more. Search for an organization or a person, or search the full text of filings.

By Andrea Suozzo, Alec Glassford, Ash Ngu and Brandon Roberts.

Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

Updated