Overview
What is Nys Health Providers Workers Compensation Trust?
The Nys Health Providers Workers Compensation Trust is a nonprofit organization situated in Olean, New York. Its primary focus is the management and distribution of Workers' Compensation claims for the employees of tax-exempt, self-insured employer members within the trust. By assuming this role, the trust helps ensure that affected employees receive appropriate compensation for workplace injuries. The trust's mission is to provide efficient and effective claim administration, thereby easing the burden on both employers and employees in the event of workplace accidents. With a small team of dedicated professionals, the trust plays a crucial role in safeguarding workers' rights and maintaining financial security for its member organizations.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Star rating)
The Nys Health Providers Workers Compensation Trust has achieved a score of 87%, indicating a solid performance in its accountability and finance practices. This rating is derived solely from its Accountability & Finance score, showcasing the organization’s commitment to transparency and responsible financial management.
Key strengths of the organization include a fully independent board, with all ten members meeting independence criteria. Additionally, it has demonstrated effective asset management with a minimal liabilities to assets ratio of 0.01%, and an impressive program expense ratio of 92.90%, indicating that a significant portion of its funds is directed towards its mission-related activities.
While the organization shows strong governance and financial health, the rating is exclusively based on financial metrics, leaving out qualitative aspects like impact and outcomes. Nevertheless, the established policies regarding conflict of interest and document retention reflect a robust operational framework.
This AI summary has been generated from information found on Charity Navigator.
Is Nys Health Providers Workers Compensation Trust legitimate?
Nys Health Providers Workers Compensation Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nys Health Providers Workers Compensation Trust 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: $10,400
For more financial information, click here
What is the mission statement of Nys Health Providers Workers Compensation Trust?
The Nys Health Providers Workers Compensation Trust is dedicated to managing and distributing workers' compensation claims for the employees of its tax-exempt, self-insured employer members. Its primary mission is to ensure a smooth and efficient process for handling these claims, providing necessary support and financial assistance to the affected employees. The trust serves as a crucial intermediary, facilitating the resolution of workers' compensation issues within its member organizations. By managing these claims effectively, the trust helps maintain a stable work environment for its members and their employees.
Who is the CEO of Nys Health Providers Workers Compensation Trust?
Mark Prunoske is the President of Nys Health Providers Workers Compensation Trust.
What is the revenue of Nys Health Providers Workers Compensation Trust?
Nys Health Providers Workers Compensation Trust's revenue in 2022 was $102,001.
Who are the executives of Nys Health Providers Workers Compensation Trust and what are their salaries?
The average compensation at Nys Health Providers Workers Compensation Trust during 2022 was $10,400. There is 1 employee at Nys Health Providers Workers Compensation Trust.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Nys Health Providers Workers Compensation Trust?
Nys Health Providers Workers Compensation Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Nys Health Providers Workers Compensation Trust
The New York State Health Providers Workers Compensation Trust is committed to managing and dispensing workers' compensation claims for the employees of tax-exempt, self-insured employer members within its trust. This nonprofit organization plays a crucial role in ensuring that employees who have sustained work-related injuries or illnesses receive the necessary compensation and support. By taking charge of these claims, the Trust alleviates the administrative burden from its member organizations, enabling them to focus on their core missions. The Trust's activities contribute to the overall well-being of employees, fostering a safer and more secure work environment for all involved.
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Impact
October, 2024
The Nys Health Providers Workers Compensation Trust plays a crucial role in managing and disbursing workers' compensation claims for employees of its tax-exempt self-insured employer members. By streamlining the claims process, the Trust ensures that employees receive timely and fair compensation for work-related injuries or illnesses. This enhances workplace safety and supports employee well-being, fostering a healthier workforce across the member organizations. Additionally, the Trust helps member employers manage their financial risks associated with workplace injuries, providing stability and predictability in their workers' compensation costs. Overall, it contributes to a more efficient, effective system for handling workers' compensation, benefiting both employees and employers in the long term.
This information is meant to be a general summary of Nys Health Providers Workers Compensation Trust. 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.
- Program Service Revenue: $100,000
- Gross Receipts: $102,001
Assets and Liabilities:
- Total Assets: $2,283,872
- Total Liabilities: $290
- Net Assets: $2,283,582
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GROUP ASSESSMENTS
Revenue
$100,000
Organization Details
Founding Year
1992
Phone
(716) 375-4606Principal Officer
Mark Prunoske
Main Address
201 NORTH UNION STREET 718, OLEAN, NY, 14760
NTEE Category
Code: Y200 - Mutual benefit
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