Overview
What is Special Funds Conservation Committee?
The Special Funds Conservation Committee was established in New York State in 1938 with a mission to preserve the assets of specific funds created under sections 15 and 25-A of the Workers' Compensation Law. The committee performed services in relation to these special funds, collaborating with relevant authorities such as the Workers' Compensation Board, the Superintendent of Insurance, and other public officials involved in the operation of these funds. As per their plan, the expected dissolution date is December 31, 2025. Currently, their operations have been adjusted so that they only engage in activities related to the wind-down process until their eventual dissolution.
Is Special Funds Conservation Committee legitimate?
Special Funds Conservation Committee is a legitimate nonprofit organization registered as a 501(c)(6) entity. Special Funds Conservation Committee submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Special Funds Conservation Committee?
The Special Funds Conservation Committee, established in 1938, was originally established with the purpose of preserving the assets of special funds under sections 15 and 25-A of New York's Workers' Compensation Law. The committee collaborated with various public officials involved in the operation of these special funds. The committee's activities were primarily focused on servicing these funds. However, as per recent amendments, its operations have been limited to wind-down activities until its planned dissolution on December 31, 2025. Due to its termination or inactivity, the committee no longer has an active mission statement.
Who is the CEO of Special Funds Conservation Committee?
Richard Vanderbeek is the Board Member of Special Funds Conservation Committee.
What is the revenue of Special Funds Conservation Committee?
Special Funds Conservation Committee's revenue in 2022 was $0.
Who are the executives of Special Funds Conservation Committee and what are their salaries?
Here are 3 key members and their salaries:
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- Other: $0
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- Compensation: $0
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- Other: $0
Where can I find the form 990 for Special Funds Conservation Committee?
Special Funds Conservation Committee's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Special Funds Conservation Committee
The Special Funds Conservation Committee, established in 1938, was founded with the mission to conserve the assets of special funds created under Subdivisions of Sections 15 and 25-A of the Workers' Compensation Law of New York State. This committee performed services in connection with these special funds and collaborated with various public officials, such as the Chairman and Members of the New York Workers' Compensation Board, the Superintendent of Insurance, and any other public officials whose duties involved the operation of the special funds. As per Part III, Line 3, the Committee was expected to dissolve on December 31, 2025. However, the operations of the Committee have since been amended, limiting its activities to only those related to the wind-down of the Committee until its dissolution. In summary, the Special Funds Conservation Committee was established to preserve the assets of certain special funds and collaborate with relevant authorities, with its focus shifting towards winding down its operations prior to its scheduled dissolution.
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Impact
October, 2024
The Special Funds Conservation Committee has played a vital role in managing and preserving the assets associated with specific funds outlined under New York's Workers' Compensation Law since its establishment in 1938. By collaborating with key stakeholders, including the New York Workers' Compensation Board and the Superintendent of Insurance, the Committee ensured that the funds were properly administered and protected throughout its operational period.
Its efforts were focused on maintaining the sustainability of these special funds, which are crucial for providing necessary financial support and benefits to injured workers. The Committee's proactive stance in regulatory cooperation helped streamline processes and fostered an environment of accountability and transparency within the workers' compensation system.
As it approaches its expected dissolution by December 31, 2025, the Committee has pivoted its operations to focus solely on winding down its activities. This transition reflects a commitment to ensuring that all remaining responsibilities are handled effectively, thereby minimizing potential disruptions to the beneficiaries who rely on these funds. The legacy of the Committee underscores the importance of dedicated oversight in the stewardship of public funds, demonstrating a model of fiscal prudence and collaboration within government frameworks.
This information is meant to be a general summary of Special Funds Conservation Committee. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
Assets and Liabilities:
- Total Assets: $2,462,853
- Total Liabilities: $1,397,443
- Net Assets: $1,065,410
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Organization Details
Founding Year
1938
Phone
(212) 542-9748Principal Officer
Richard Vanderbeek
Main Address
CO GRANT THORNTON 757 THIRD AVE, NEW YORK, NY, 10017
NTEE Category
Code: Y20 - Mutual benefit
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