Overview
What is Lycoming County Insurance Consortium Pooled Trust?
The Lycoming County Insurance Consortium Pooled Trust, based in Canton, Pennsylvania (PA, 17724, 33 Springbrook Drive), is a specialized nonprofit organization. Its purpose is to enhance the purchasing power and manage risks for the eligible employees of participating educational institutions. By pooling resources together, the Trust aims to reduce healthcare premium costs for its participants, collectively known as the consortium. This collaborative approach allows for increased economies of scale and improved benefits for its members.
Is Lycoming County Insurance Consortium Pooled Trust legitimate?
Lycoming County Insurance Consortium Pooled Trust is a legitimate nonprofit organization registered as a 501(c)(4) entity. Lycoming County Insurance Consortium Pooled 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.
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What is the mission statement of Lycoming County Insurance Consortium Pooled Trust?
The Lycoming County Insurance Consortium Pooled Trust aims to enhance the purchasing power of health care premium costs for eligible employees of participating educational institutions. By pooling risks, this trust seeks to mitigate financial burdens and uncertainties in health care expenses. The primary mission is to provide a comprehensive program of health and welfare benefits for its participants. This initiative enables participating institutions to offer competitive benefits packages and share resources, ultimately benefiting their employees and fostering a more secure workforce.
Who is the CEO of Lycoming County Insurance Consortium Pooled Trust?
Sara Mcnett is the Director of Lycoming County Insurance Consortium Pooled Trust.
What is the revenue of Lycoming County Insurance Consortium Pooled Trust?
Lycoming County Insurance Consortium Pooled Trust's revenue in 2023 was $43,020,867.
Who are the executives of Lycoming County Insurance Consortium Pooled Trust and what are their salaries?
Here are 11 key members and their salaries:
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Where can I find the form 990 for Lycoming County Insurance Consortium Pooled Trust?
Lycoming County Insurance Consortium Pooled Trust's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Lycoming County Insurance Consortium Pooled Trust
The Lycoming County Insurance Consortium Pooled Trust, a notable organization, is on a mission to amplify the purchasing power and risk pooling capabilities of health care premium costs for the eligible employees of participating educational institutions. By coming together, these institutions increase their collective bargaining power, allowing them to secure more favorable health insurance rates and coverage options.
In essence, the Trust functions as a shared resource for its members, pooling their financial contributions to cover health and welfare benefits for their personnel. This collaboration not only helps to minimize the financial burden of escalating health care costs but also distributes risk more evenly among the participants. The ultimate goal is to provide a robust and comprehensive benefits program tailored to the needs of the workforce within these educational institutions.
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Impact
October, 2024
The Lycoming County Insurance Consortium Pooled Trust significantly enhances the purchasing power of educational institutions in the region when it comes to health care premium costs. By pooling resources and sharing risks among participating entities, it provides a strategic advantage that allows those institutions to negotiate better terms for health and welfare benefits. This collaborative approach not only reduces costs but also ensures that eligible employees have access to comprehensive health care options. The trust effectively fosters a sustainable model that benefits both employees and participating educational organizations, ultimately improving the quality of benefits offered and ensuring financial stability for all involved.
This information is meant to be a general summary of Lycoming County Insurance Consortium Pooled 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 2023.
- Investment Income: $1,106,520
- Program Service Revenue: $41,912,945
- Gross Receipts: $43,020,867
Assets and Liabilities:
- Total Assets: $29,574,926
- Total Liabilities: $0
- Net Assets: $29,574,926
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRIBUTIONS FROM MEMBERS
Revenue
$41,131,176
INSURANCE REIMBURSEMENT
Revenue
$781,769
Organization Details
Founding Year
1997
Phone
(570) 673-6001Principal Officer
Sara Mcnett
Main Address
33 SPRINGBROOK DRIVE, CANTON, PA, 17724
NTEE Category
Code: Y20 - Mutual benefit
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