Overview
What is Oklahoma Receivership Office Inc?
Oklahoma Receivership Office Inc, located at 3613 NW 56TH ST STE 330, Oklahoma City, Oklahoma 73112, is a nonprofit organization established to aid the Commissioner of the Oklahoma Insurance Department. Their primary role is to manage the receivership of insurance companies based within Oklahoma state, should the need arise. With a team of three dedicated individuals, they work to ensure the stability and continuity of these companies, thereby protecting the interests of their policyholders.
Official website here: www.okaro.org
Is Oklahoma Receivership Office Inc legitimate?
Oklahoma Receivership Office Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Oklahoma Receivership Office Inc 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: $274,602
For more financial information, click here
Official website here: www.okaro.org
What is the mission statement of Oklahoma Receivership Office Inc?
The Oklahoma Receivership Office Inc, functioning as a non-profit corporation, is dedicated to supporting the Commissioner of the Oklahoma Insurance Department in managing the receivership of insurance companies based within Oklahoma. Its primary mission is to assist in overseeing these companies during times of financial distress, ensuring the protection of policyholders' interests. The office plays a crucial role in maintaining stability within the insurance market of Oklahoma, thereby safeguarding the financial well-being of the state's residents.
Official website here: www.okaro.org
Who is the CEO of Oklahoma Receivership Office Inc?
Glen Mulready is the President of Oklahoma Receivership Office Inc.
Official website here: www.okaro.org
What is the revenue of Oklahoma Receivership Office Inc?
Oklahoma Receivership Office Inc's revenue in 2022 was $631,410.
Official website here: www.okaro.org
Who are the executives of Oklahoma Receivership Office Inc and what are their salaries?
The average compensation at Oklahoma Receivership Office Inc during 2022 was $91,534. There are 3 employees at Oklahoma Receivership Office Inc.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $129,343
- Other: $0
- Compensation: $0
- Related: $123,392
- Other: $0
- Compensation: $0
- Related: $123,503
- Other: $0
- Compensation: $0
- Related: $112,963
- Other: $0
- Compensation: $0
- Related: $137,341
- Other: $0
- Compensation: $126,630
- Related: $0
- Other: $0
Official website here: www.okaro.org
Where can I find the form 990 for Oklahoma Receivership Office Inc?
Oklahoma Receivership Office Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.okaro.org
Learn more at the official website: www.okaro.org
Mission Statement of Oklahoma Receivership Office Inc
Oklahoma Receivership Office Inc, as a not-for-profit corporation, is committed to assisting the Commissioner of the Oklahoma Insurance Department in managing the receivership of insurance companies based within Oklahoma. The organization's primary mission is to ensure the smooth transition and continuity of operations for these companies during times of financial distress, thereby protecting the interests of policyholders and maintaining stability in the insurance market. By working closely with the Commissioner, Oklahoma Receivership Office Inc plays a crucial role in safeguarding the financial well-being of insurance companies and the policyholders they serve.
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Impact
October, 2024
Oklahoma Receivership Office Inc plays a crucial role in the financial oversight and stability of the insurance sector within Oklahoma. By assisting the Commissioner for the Oklahoma Insurance Department, the organization ensures a structured and efficient process for managing insurance companies that face insolvency or regulatory challenges. This involvement is vital for protecting policyholders, maintaining consumer confidence, and upholding the integrity of the insurance market in the state.
Through its operations, the organization not only helps mitigate the fallout from failing insurance companies but also fosters a sense of security among policyholders and stakeholders. By effectively handling receiverships, it facilitates the orderly winding down of operations when necessary, ensuring that resources are managed responsibly and claims are settled fairly.
Overall, Oklahoma Receivership Office Inc significantly contributes to the stability of the financial landscape in Oklahoma, safeguarding the interests of the public while reinforcing trust in the insurance system.
This information is meant to be a general summary of Oklahoma Receivership Office Inc. 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.
- Investment Income: $545,577
- Program Service Revenue: $631,410
- Gross Receipts: $36,496,830
Assets and Liabilities:
- Total Assets: $62,821,347
- Total Liabilities: $62,716,690
- Net Assets: $104,657
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RECEIVERSHIP MANAGEMENT FEE
Revenue
$583,020
ORIF INVESTMENT MANAGEMENT FEE
Revenue
$48,390
Organization Details
Founding Year
2007
Phone
(405) 947-0022Principal Officer
Glen Mulready
Main Address
3613 NW 56TH ST STE 330, OKLAHOMA CITY, OK, 73112
Website
www.okaro.orgNTEE Category
Code: E118 - Health
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