Overview

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Est.

1969

Fiscal Year Start

Jan 1

Organization Type

Grantseeker

990s

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2024
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2023
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2022
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AI Summary

The North Carolina Joint Underwriting Association (EIN: 56-1222676) is a nonprofit organization established in 1969 by the North Carolina General Assembly to serve as a market of last resort for property insurance, assisting individuals and businesses unable to secure coverage in the standard insurance market. With an operating budget of $234.1 million and total revenue of $232.8 million for the 2024 filing year, the Association is funded by all property and casualty insurance companies operating in North Carolina, which are required by statute to participate in its operations. While it is regulated by the North Carolina Commissioner of Insurance, the Association is not a state government agency. For more information, visit www.ncjua-nciua.org.

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Mission Statement

IN 1969, THE NORTH CAROLINA GENERAL ASSEMBLY ESTABLISHED THE ASSOCIATION AS A MARKET OF LAST RESORT TO PROVIDE PROPERTY INSURANCE FOR INDIVIDUALS AND BUSINESSES WHO ARE UNABLE TO BUY IT IN THE STANDARD INSURANCE MARKET. ALL PROPERTY AND CASUALTY INSURANCE COMPANIES DOING BUSINESS IN NORTH CAROLINA ARE REQUIRED BY STATUTE TO PARTICIPATE IN FUNDING THE OPERATIONS OF THE ASSOCIATION, AND THEY SHARE IN ITS LOSSES ON PRO RATA BASIS. THE ASSOCIATION IS NOT AN AGENCY OF THE STATE GOVERNMENT, BUT ITS REGULATED BY THE NORTH CAROLINA COMMISSIONER OF INSURANCE.

Cause Areas

1
Insurance
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Financials

2024
Revenues
$232.8M
Expenses
$234.1M
Net Income:
-$1.3M
Assets
$226.5M
Liabilities
$200.6M
Net Assets:
+$25.9M

Financial Trends

2024
Operating Budget
$234.1M
Operating Budget by Year

Due Diligence

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Charity Verification Snapshot
IRS EO Business Master File Status
Listed as tax-exempt
IRS Pub 78 Status
Not in Pub 78 list
IRS Revocation Status
Not in Automatic Revocation of Exemption List
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Board & Team

J
John Miletti
Board Member
H
Hope Kornegay
Board Member
P
Patrick Joyce
Board Member

Frequently Asked Questions

What is NORTH CAROLINA JOINT UNDERWRITING ASSOCIATION’s budget?
In 2024, NORTH CAROLINA JOINT UNDERWRITING ASSOCIATION reported an annual operating budget of around $234.1 million. More detailed financial information is available to registered users.
What causes does NORTH CAROLINA JOINT UNDERWRITING ASSOCIATION support?
NORTH CAROLINA JOINT UNDERWRITING ASSOCIATION supports work in Insurance.
Where does NORTH CAROLINA JOINT UNDERWRITING ASSOCIATION operate?
NORTH CAROLINA JOINT UNDERWRITING ASSOCIATION is headquartered in RALEIGH, NC.