2026-04-09T15:53:17-05:00 2025-06-30 350921680 CROWE LLP 401 E LAS OLAS BLVD SUITE 1100 FORT LAUDERDALE FL 333014230 990 2024-07-01 831054554 CONNECTICUT FOUNDATION SOLUTIONS INDEMNITY COMPANY INC CONN 8778295500 237 HILLSIDE RD ASHFORD CT 062782207 MICHAEL MAGLARAS SUPERINTENDENT 8778295500 2026-04-09 1 1 BRITTNEY KOCAJ P01320603 9542028600 2026-04-09 2024 2025-03-06 01:10:19Z STEVE WERBNER 237 HILLSIDE RD ASHFORD CT 062782207 38233173 0 X CRUMBLINGFOUNDATIONS.ORG X 2018 CT TO ASSIST THE STATE OF CONNECTICUT WITH THE FAIR AND EQUITABLE ADJUSTMENT OF HOMEOWNER CRUMBLING FOUNDATION CLAIMS. 10 10 0 0 0 0 36106797 36010331 0 0 2156137 2222842 0 0 38262934 38233173 26934468 29288128 0 0 0 0 0 0 0 10077159 5945789 37011627 35233917 1251307 2999256 45172887 51262641 75544507 79660127 -30371620 -28397486 X CONNECTICUT FOUNDATION SOLUTIONS INDEMNITY COMPANY, INC. ("CFSIC") HAS BEEN CHARTERED AND LICENSED AS A CAPTIVE INSURER TO ASSIST THE STATE OF CONNECTICUT WITH THE FAIR AND EQUITABLE ADJUSTMENT OF HOMEOWNER CLAIMS RESULTING FROM THE (CONTINUED ON SCHEDULE O) PYRRHOTITE-AFFECTED HOME FOUNDATIONS NATURAL DISASTER.CFSIC'S MISSION IS TO USE ITS AVAILABLE RESOURCES TO ADJUST AND PAY CLAIMS FOR THE REBUILDING OF AS MANY PYRRHOTITE-AFFECTED HOME FOUNDATIONS AS THOSE RESOURCES WILL PERMIT. USING OBJECTIVE AND RECOGNIZED PROPERTY CLAIM ADJUSTMENT STANDARDS, AND ACTING AT ALL TIMES WITH FAIRNESS AND COMPASSION, CFSIC IS COMMITTED TO THE EQUITABLE TREATMENT OF HOMEOWNERS SUFFERING FROM THIS NATURAL DISASTER. 0 0 34924927 29288128 TO PROVIDE FINANCIAL ASSISTANCE TO OWNERS OF RESIDENTIAL BUILDINGS FOR THE REPLACEMENT OF, OR REIMBURSEMENT OF COSTS ASSOCIATED WITH THE REPLACEMENT OF, CONCRETE FOUNDATIONS OF SUCH BUILDINGS THAT HAVE DETERIORATED DUE TO THE PRESENCE OF A MINERAL WITHIN THE CONCRETE CALLED PYRRHOTITE. THE ASSISTANCE IS INTENDED TO PROVIDE SUCH OWNERS WITH A STRUCTURALLY SOUND CONCRETE FOUNDATION REPLACEMENT, OR REIMBURSEMENT FOR A REPLACED FOUNDATION. 34924927 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 9 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 1 0 0 1 1 1 1 1 0 0 0 1 1 1 0 0 0 0 0 X STRATEGIC RISK SOLUTIONS 8028601958 159 BANK STREET 4TH FLOOR BURLINGTON VT 05401 X STEVEN WERBNER PRESIDENT 3.00 X X 0 0 0 BRUCE KELLOGG VICE PRESIDENT 1.00 X X 0 0 0 MATT HART VICE PRESIDENT 1.00 X X 0 0 0 DANIEL KEUNE SECRETARY 1.00 X X 0 0 0 MARK MCDONNELL TREASURER 1.00 X X 0 0 0 JOHN FILCHAK DIRECTOR 1.00 X 0 0 0 JOHN RACHEK DIRECTOR 1.00 X 0 0 0 DONALD POULIN DIRECTOR 1.00 X 0 0 0 MICHAEL MANISCALCO DIRECTOR 1.00 X 0 0 0 WENDY CLARKE ESQ DIRECTOR 1.00 X 0 0 0 MICHELLE AMBROSE ASSISTANT SECRETARY 1.00 X 0 0 0 MICHAEL MAGLARAS SUPERINTENDENT 40.00 X 0 0 0 0 0 0 0 0 0 0 MICHAEL MAGLARAS & COMPANY 237 HILLSIDE ROAD ASHFORD CT 06278 INSURANCE AND RISK MANAGEMENT 708168 ESIS INC PO BOX 15054 WILMINGTON DE 19850 CLAIMS MANAGEMENT SERVICES 572777 CROWE LLP 330 EAST JEFFERSON BLVD SOUTH BEND IN 46601 ACCOUNTING 126083 MARSH MANAGEMENT SERVICES INC 463 MOUNTAIN VIEW DRIVE STE 301 COLCHESTER VT 05446 CAPTIVE MANAGEMENT SERVICES 107600 4 36010331 36010331 2222842 2222842 38233173 0 0 2222842 29288128 29288128 802936 802936 18337 18337 104383 104383 572777 572777 186270 186270 UNFUNDED LOSSES 4135345 4135345 PUBLIC OUTREACH 65352 65352 BOARD & DEVELOPMENT EXP 5077 5077 55312 55312 35233917 34924927 308990 0 69825 130805 43921326 49951015 24184 23269 1157552 1157552 45172887 51262641 127815 100470 75416692 79559657 75544507 79660127 X 0 0 0 0 -30371620 -28397486 -30371620 -28397486 45172887 51262641 X 2999256 -1025122 X 0 1 X 0 1 1 X 30582118 32434746 25000025 36106797 36010331 160134017 30582118 32434746 25000025 36106797 36010331 160134017 160134017 166680 85617 1081045 2156137 2222842 5712321 165846338 0.96560 0.97530 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DEPOSIT LIABILITIES 50908901 UNFUNDED LIABILITY FOR UNPAID LOSSES 28397486 RESIDUAL LIABILITY DUE TO STATE OF CONNECTICUT 253270 79559657 X 2222842 0 2222842 36010331 36010331 38233173 1236331 0 1236331 33997586 33997586 35233917 PART X, LINE 2: THE COMPANY HAS RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE (IRS) EFFECTIVE JUNE 26, 2018, INDICATING THAT THE COMPANY QUALIFIES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AS EXEMPT FROM FEDERAL INCOME TAXES. ACCORDINGLY, NO TAX PROVISION HAS BEEN RECORDED BY THE COMPANY. ADDITIONALLY, BY STATUTE, THE COMPANY IS NOT SUBJECT TO ANY CONNECTICUT STATE OR LOCAL TAXES OR FEES. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS FROM STATE OF CT REPORTED ON BALANCE SHEET 36,010,331. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSSES PAID REPORTED ON BALANCE SHEET 33,997,586. 1 INDEMNITY PAYMENTS - TYPE 1 AND TYPE 2 CLAIMS 206 29288128 PART I, LINE 2: CLAIMS ARE PRESENTED TO THE ORGANIZATION BY CLAIMANTS WHO QUALIFY FOR CONSIDERATION BY PROOF OF OWNERSHIP OF AFFECTED RESIDENTIAL BUILDINGS UNLESS THEY ARE CLAIMANTS THAT HAVE SINCE RELOCATED FROM THEIR AFFECTED RESIDENTIAL BUILDINGS. BOTH TYPE 1 AND TYPE 2 CLAIM APPLICATIONS REQUIRE POINTS OF EVIDENCE AS DETAILED WITHIN THE COMPANY'S UNDERWRITING GUIDELINES. MICHAEL MAGLARAS&COMPANY MANAGEMENT COMPANY OWNED BY OFFICER 708168 AMOUNT PAID TO MAGLARAS & COMPANY (100% OWNED ENTITY) FOR MANAGEMENT SERVICES 0 FORM 990, PART VI, SECTION A, LINE 1A DELEGATE BROAD AUTHORITY TO A COMMITTEE THE EXECUTIVE COMMITTEE HAS FOUR VOTING MEMBERS, ALL OF WHICH ARE VOTING DIRECTORS OF THE ORGANIZATION. THE EXECUTIVE COMMITTEE MAY ACT ON BEHALF OF THE BOARD OF DIRECTORS BETWEEN REGULAR MEETINGS OF THE BOARD OF DIRECTORS AND WHERE THE EXECUTIVE COMMITTEE DETERMINES THAT IT IS IMPRACTICAL TO EITHER CONVENE A SPECIAL MEETING OF THE BOARD OF DIRECTORS TO TAKE CERTAIN ACTION OR TO SOLICIT ACTION VIA UNANIMOUS WRITTEN CONSENT OF THE DIRECTORS ANY ACTION TAKEN BY THE EXECUTIVE COMMITTEE ON BEHALF OF THE BOARD OF DIRECTORS SHALL BE PRESENTED TO THE BOARD OF DIRECTORS FOR RATIFICATION AT THEIR NEXT MEETING AND ENTERED IN THE MINUTES OF THAT MEETING. THE EXECUTIVE COMMITTEE MAY ALSO EXERCISE THOSE ASPECTS OF THE AUTHORITY OF THE BOARD OF DIRECTORS THAT THE BOARD OF DIRECTORS CONFERS UPON SUCH COMMITTEE BY RESOLUTION. HOWEVER, THE EXECUTIVE COMMITTEE MAY NOT PERFORM THE FOLLOWING ACTIONS: (1) AUTHORIZE DISTRIBUTIONS; (2) APPROVE DISSOLUTION, MERGER OR THE SALE, PLEDGE OR TRANSFER OF ALL OR SUBSTANTIALLY ALL OF THE CORPORATION'S ASSETS; (3) ELECT, APPOINT OR REMOVE DIRECTORS OR FILL VACANCIES ON THE BOARD OF DIRECTORS OR ON ANY OF ITS COMMITTEES; OR (4) ADOPT, AMEND OR REPEAL THE CERTIFICATE OF INCORPORATION OR THESE BYLAWS. FORM 990, PART VI, SECTION A, LINE 3 DELEGATION OF MANAGEMENT DUTIES MICHAEL MAGLARAS & COMPANY, AN INSURANCE & RISK MANAGEMENT CONSULTING COMPANY, PERFORMS MANAGEMENT DUTIES FOR THE ORGANIZATION. THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL, MICHAEL MAGLARAS, IS SUPERINTENDENT OF THE ORGANIZATION, AND IS 100% OWNER OF THE MANAGEMENT COMPANY. MARSH PROVIDES SPECIALIZED CAPTIVE MANAGEMENT SERVICES TO THE ORGANIZATION. MICHELLE AMBROSE, ASSISTANT SECRETARY OF THE ORGANIZATION, IS AN ACCOUNT EXECUTIVE AT MARSH. FORM 990, PART VI, SECTION A, LINE 6 CLASSES OF MEMBERS OR STOCKHOLDERS THE ORGANIZATION HAS ONE CLASS OF MEMBER. THE ORGANIZATION'S SOLE MEMBER WAS DOUGLAS DALENA, ESQ., WHO SERVES AS TRUSTEE OF THE CRUMBLING FOUNDATIONS ASSISTANCE TRUST U/T/A DATED JUNE 26, 2018, AND EACH SUCCESSOR TRUSTEE OF SUCH TRUST. AT THE ANNUAL MEETING, THE MEMBER SHALL VOTE FOR DIRECTORS AND ADDRESS OTHER BUSINESS THAT MAY COME BEFORE THE MEMBER DURING THE MEETING. THE SOLE MEMBER SHALL HAVE THE ONLY VOTE WITH RESPECT TO MATTERS THAT COME BEFORE THE MEMBER. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OR STOCKHOLDERS ELECTING MEMBERS OF GOVERNING BODY THE ORGANIZATION HAS ONE CLASS OF MEMBER. THE ORGANIZATION'S SOLE MEMBER HAS THE POWER TO ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS REQUIRING APPROVAL BY MEMBERS OR STOCKHOLDERS THE ORGANIZATION HAS ONE CLASS OF MEMBER. THE FOLLOWING ACTIONS CANNOT TAKE PLACE WITHOUT THE PRIOR APPROVAL OF THE MEMBER: (A) THE SALE, PLEDGE, OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE CORPORATION'S ASSETS; (B) A SUBSTANTIAL CHANGE IN THE PURPOSE OR BUSINESS OF THE CORPORATION; (C) THE MERGER, CONSOLIDATION, REORGANIZATION, REDOMESTICATION, DISSOLUTION OR LIQUIDATION OF THE CORPORATION; AND (D) ANY AMENDMENT TO THE CERTIFICATE OF INCORPORATION OR THESE BYLAWS OF THE CORPORATION. THE SOLE MEMBER HAS THE ONLY VOTE WITH RESPECT TO MATTERS THAT COME BEFORE THE MEMBER. FORM 990, PART VI, SECTION B, LINE 11B REVIEW OF FORM 990 BY GOVERNING BODY THE FORM 990 IS COMPLETED BY AN EXTERNAL ACCOUNTING FIRM AND SIGNED BY AN OFFICER OF THE ORGANIZATION. THE FULL BOARD DOES NOT REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANY DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS IS COVERED UNDER THE POLICY. EACH DIRECTORS, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: A. HAS RECEIVED A COPY OF THIS CONFLICT OF INTEREST POLICY, B. HAS READ AND UNDERSTANDS THE POLICY, C. HAS AGREED TO COMPLY WITH THE POLICY. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DID NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE DURING THE TAX YEAR. HOWEVER, IT PUBLISHES ITS FINANCIAL STATEMENTS ANNUALLY ON ITS WEBSITE. FORM 990, PART XI, LINE 9: NET DEPOSIT LIABILITY ADJUSTMENTS -1,025,122.