Overview
What is Insurance Company Supported Organizations Group Benefit Plan?
Insurance Company Supported Organizations Group Benefit Plan, abbreviated as ICSO H&W, is a nonprofit organization headquartered at 3601 Vincennes Road, Indianapolis, IN, 46268. ICSO H&W specializes in providing life, dental, vision, and disability benefits to eligible employees of member companies, under group insurance contracts with insurance companies. They administer and service medical health insurance plans and flexible spending accounts (FSAs) for these member companies, handling the processing of FSA funds limited to healthcare and dependent care benefits. ICSO H&W simplifies administration, offers expert advice, and grants access to a unique mix of employee benefits products designed for Insurance Company Supported Organizations, their employees, and retirees.
What are the reviews and ratings of this charity?
The Insurance Company Supported Organizations Group Benefit Plan is not currently rated by Charity Navigator. This organization is not eligible for a rating since it is not classified as a 501(c)(3) by the IRS, which means it cannot be evaluated using Charity Navigator's methodologies primarily designed for such organizations.
Without a formal rating, it's important to understand that this absence does not imply a positive or negative stance regarding the organization's operations or effectiveness. Historically, Charity Navigator's evaluations focused on financial health and accountability, which are not applicable here due to the organization's alternate tax status.
Additionally, there are no user reviews available from GreatNonprofits, which limits further insights into this organization's community impact and stakeholder satisfaction. Thus, potential donors or interested parties may need to seek information from other resources or directly from the organization for a complete understanding.
This AI summary has been generated from information found on Charity Navigator.
Is Insurance Company Supported Organizations Group Benefit Plan legitimate?
Insurance Company Supported Organizations Group Benefit Plan is a legitimate nonprofit organization registered as a 501(c)(9) entity. Insurance Company Supported Organizations Group Benefit Plan 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
For more financial information, click here
What is the mission statement of Insurance Company Supported Organizations Group Benefit Plan?
The Insurance Company Supported Organizations Group Benefit Plan offers simplified administration and expert advice to insurance company-backed organizations, along with access to a diverse selection of employee benefits products. They cater to the benefits needs of these organizations, their employees, and retirees, providing group insurance contracts for life, dental, vision, and disability benefits. The plan also administers and services medical health insurance plans, sponsored by member companies, and processes funds for Flexible Spending Accounts sponsored by the member company, limited to healthcare and dependent care benefits.
Who is the CEO of Insurance Company Supported Organizations Group Benefit Plan?
Douglas Jensen is the Chairman of Insurance Company Supported Organizations Group Benefit Plan.
What is the revenue of Insurance Company Supported Organizations Group Benefit Plan?
Insurance Company Supported Organizations Group Benefit Plan's revenue in 2022 was $12,790,785.
Who are the executives of Insurance Company Supported Organizations Group Benefit Plan and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $25,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- 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 Insurance Company Supported Organizations Group Benefit Plan?
Insurance Company Supported Organizations Group Benefit Plan's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Insurance Company Supported Organizations Group Benefit Plan
Insurance Company Supported Organizations Group Benefit Plan, or ICSO H&W, is a unique entity that offers simplified administration and expert advice to insurance company-supported organizations, their employees, and retirees. The mission of ICSO H&W revolves around providing access to a diverse range of employee benefits products under group insurance contracts with insurance companies.
ICSO H&W acts as a trusted intermediary, administering and servicing medical health insurance plans sponsored by member companies. These plans are procured through a broker of record for the member company, ensuring a seamless and efficient process. Furthermore, ICSO H&W administers and services Flexible Spending Accounts (FSA) sponsored by the member company. The funds of the member company are processed to pay for FSA benefits, which are limited to healthcare and dependent care benefits.
By offering life, dental, vision, and disability benefits to eligible employees of member companies, ICSO H&W plays a crucial role in enhancing the overall well-being and financial security of the workforce. The organization's commitment to simplified administration and expert advice makes it an indispensable partner for insurance company-supported organizations, enabling them to focus on their core missions while leaving the benefits administration to the professionals at ICSO H&W.
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Impact
October, 2024
The Insurance Company Supported Organizations Group Benefit Plan significantly enhances the welfare of employees and retirees through a streamlined framework for employee benefits administration. By offering life, dental, vision, and disability benefits, it ensures that eligible employees of member companies receive crucial support for their health and financial security.
The plan's focus on simplified administration allows member organizations to efficiently manage employee benefits without the burden of complex processes. Expert advice from the plan helps navigate the intricacies of benefits selection and utilization, optimizing the use of available options for greater member satisfaction.
Moreover, the ability to administer and service medical health insurance plans and flexible spending accounts enhances the overall value proposition for member organizations. This service facilitates direct processing of funds for health care and dependent care benefits, making it easier for employees to access necessary resources.
Overall, the Insurance Company Supported Organizations Group Benefit Plan fosters a supportive environment for both employees and retirees, ensuring they have access to essential benefits while also supporting the operational needs of member companies in Indianapolis and beyond.
This information is meant to be a general summary of Insurance Company Supported Organizations Group Benefit Plan. 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: $12,790,785
- Gross Receipts: $12,790,785
Assets and Liabilities:
- Total Assets: $4,060,285
- Total Liabilities: $2,665,477
- Net Assets: $1,394,808
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$12,169,197
EMPLOYEE CONTRIBUTIONS
Revenue
$278,691
ADMINISTRATIVE FEES-POST 65
Revenue
$162,208
ADMINISTRATIVE FEES
Revenue
$153,893
ADMINISTRATIVE FEES-PRE 65
Revenue
$16,796
Organization Details
Founding Year
1966
Phone
(317) 875-5250Principal Officer
Douglas Jensen
Main Address
3601 VINCENNES ROAD, INDIANAPOLIS, IN, 46268
NTEE Category
Code: Y43 - Mutual benefit
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