Overview
What is Hamden Assurance Risk Retention Group Inc?
Hamden Assurance Risk Retention Group Inc, established in 2007 in Burlington, Vermont, is a nonprofit organization primarily focused on offering self-insurance coverage and related services to its charitable class of beneficiaries. The organization, initially funded by Dartmouth-Hitchcock Medical Center, Dartmouth-Hitchcock Clinic, Mary Hitchcock Memorial Hospital, and The Trustees of Dartmouth College, provides insurance coverage for its members in the areas of medical, professional, and general liability. The insurance coverage is provided through both primary and excess policies, with the excess policy also including coverage for underlying auto, employment practices, and aviation policies. Limited Directors and Officers (D&O) and Employment Practices Liability (EPL) coverage is also underwritten by Hamden Assurance. The organization's mission is to acquire, establish, retain, and maintain a fund for the exclusive use in carrying out these purposes, as permitted under applicable federal and state laws.
Is Hamden Assurance Risk Retention Group Inc legitimate?
Hamden Assurance Risk Retention Group Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hamden Assurance Risk Retention Group 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: $0
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What is the mission statement of Hamden Assurance Risk Retention Group Inc?
Hamden Assurance Risk Retention Group Inc's mission is centered around serving the needs of a charitable class of beneficiaries. They aim to accomplish this by providing self-insurance coverage and other services permitted under applicable federal and state laws. Furthermore, the organization seeks to establish, retain, and maintain funds for these purposes, investing and utilizing them exclusively for the aforementioned objectives. In essence, Hamden Assurance Risk Retention Group Inc is dedicated to serving the charitable class by offering self-insurance coverage and managing funds for their specific needs.
Who is the CEO of Hamden Assurance Risk Retention Group Inc?
Unavailable
What is the revenue of Hamden Assurance Risk Retention Group Inc?
Hamden Assurance Risk Retention Group Inc's revenue in 2022 was $963,318.
Who are the executives of Hamden Assurance Risk Retention Group Inc and what are their salaries?
There 2 volunteers at Hamden Assurance Risk Retention Group Inc.
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $562,809
- Other: $21,126
- Compensation: $0
- Related: $968,827
- Other: $64,656
- Compensation: $0
- Related: $801,775
- Other: $49,533
- Compensation: $0
- Related: $805,496
- Other: $69,720
- Compensation: $0
- Related: $38,990
- Other: $9,059
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $154,960
- Other: $11,234
Where can I find the form 990 for Hamden Assurance Risk Retention Group Inc?
Hamden Assurance Risk Retention Group Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hamden Assurance Risk Retention Group Inc
Hamden Assurance Risk Retention Group Inc, as a charitable organization, is committed to serving its beneficiaries by carrying out its purposes through the provision of self-insurance coverage and various services. These services are permitted under both federal and state laws for risk retention groups. The group also aims to establish, retain, and maintain a fund or funds to be used exclusively for these purposes. This fund is to be held and invested for the foregoing purposes, thereby benefiting the charitable class of beneficiaries that Hamden Assurance Risk Retention Group Inc serves.
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Impact
October, 2024
Hamden Assurance Risk Retention Group Inc provides crucial self-insurance coverage and services aimed at benefiting its member organizations, which include prominent healthcare institutions in the Upper Valley. By offering medical, professional, and general liability coverage, Hamden mitigates financial risks associated with malpractice claims and operational liabilities. This risk retention group operates under federal and state laws, allowing it to maintain a dedicated fund that ensures sustainability and stability in risk management for its members.
Having commenced operations in 2007, Hamden has established itself as a vital resource for its members—Dartmouth-Hitchcock Medical Center, Dartmouth-Hitchcock Clinic, Mary Hitchcock Memorial Hospital, and the Trustees of Dartmouth College—empowering them to focus on delivering quality healthcare while minimizing exposure to potential lawsuits. The coverage scheme, which includes both primary and excess policies, ensures comprehensive protection against various liabilities, thus supporting the operational integrity of its members.
Moreover, Hamden plays a significant role in fostering a collaborative environment among its members by pooling resources and sharing risks, ultimately leading to better management of liabilities and more efficient healthcare delivery. By prioritizing the needs of its charitable class of beneficiaries, Hamden contributes to the overall sustainability of the healthcare landscape in the region.
This information is meant to be a general summary of Hamden Assurance Risk Retention Group 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: $91
- Program Service Revenue: $963,227
- Gross Receipts: $964,762
Assets and Liabilities:
- Total Assets: $87,935,637
- Total Liabilities: $87,885,637
- Net Assets: $50,000
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CEDING COMMISSIONS
Revenue
$963,227
Organization Details
Founding Year
2007
Phone
(603) 650-5244Main Address
30 Main Street Suite 330, Burlington, VT, 05401
NTEE Category
Code: Y20 - Mutual benefit
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