Overview
What is Neshaminy School District Workers' Compensation Trust?
The Neshaminy School District Workers' Compensation Trust is a nonprofit entity established to serve as a reliable financial resource for providing Workers' Compensation benefits and managing related claims within an exempt school district. Located in King of Prussia, Pennsylvania, this trust aims to maintain sufficient reserves for the compensation of work-related injuries, ensuring a secure source of support for affected employees. Their mission is to provide financial assistance and manage related claims effectively, thereby offering a safety net to the school district's workforce.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 52%, One-Star out of Four Stars
The Neshaminy School District Workers' Compensation Trust has received a low rating of 52%, indicating significant concerns regarding its accountability and financial practices. The organization has not demonstrated a commitment to independence, as there are no independent board members, which raises questions about governance. Despite a solid score on financial statement audits and no reported diversion of assets, the lack of essential policies and transparency through missing documentation affects its overall trustworthiness.
Strengths identified include a high program expense ratio of 97.57%, suggesting that the majority of its funds are directed towards its mission rather than administrative costs. However, the absence of essential policies, such as a conflict of interest policy and a whistleblower policy, highlights potential risks in governance and accountability. The organization's failure to list its website on its tax form further detracts from its transparency.
Overall, while the Neshaminy School District Workers' Compensation Trust appears to allocate most of its funding toward program expenses, its governance practices and lack of independent oversight are significant limitations. Addressing these areas would be crucial for improving its rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Neshaminy School District Workers' Compensation Trust legitimate?
Neshaminy School District Workers' Compensation Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Neshaminy School District 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: $0
For more financial information, click here
What is the mission statement of Neshaminy School District Workers' Compensation Trust?
The Neshaminy School District Workers' Compensation Trust was established with a mission to provide a reliable source of funds for the payment of workers' compensation benefits and associated claims. This trust aims to maintain sufficient reserves to ensure the timely and adequate compensation of employees who sustain work-related injuries or illnesses. By offering a financial safety net, the trust seeks to alleviate the financial burden associated with workers' compensation claims, thereby protecting both the employees and the school district.
Who is the CEO of Neshaminy School District Workers' Compensation Trust?
Greg Famous is the President/Ad of Neshaminy School District Workers' Compensation Trust.
What is the revenue of Neshaminy School District Workers' Compensation Trust?
Neshaminy School District Workers' Compensation Trust's revenue in 2022 was $965.
Who are the executives of Neshaminy School District Workers' Compensation Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Neshaminy School District Workers' Compensation Trust?
Neshaminy School District Workers' Compensation Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Neshaminy School District Workers' Compensation Trust
The Neshaminy School District Workers' Compensation Trust was established with a mission to serve as a reliable source of funds for Workers' Compensation claims within the exempt school district. Its primary objective is to maintain adequate reserves to ensure the timely payment of Workers' Compensation benefits and associated claims. By doing so, the trust aims to provide financial support and stability during challenging times, ensuring the well-being of the district's workforce.
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Impact
October, 2024
The Neshaminy School District Workers' Compensation Trust plays a crucial role in ensuring the financial stability of the school district by providing a dedicated source of funds for workers' compensation claims. By maintaining adequate reserves, the Trust safeguards the district against unexpected costs associated with employee injuries and accidents. This proactive approach not only protects employees by ensuring that they receive timely benefits, but it also helps the school district manage its budget effectively.
Located in King of Prussia, PA, this Trust directly supports the educational environment by allowing the district to allocate financial resources more efficiently, ensuring that funds can be directed towards core educational needs while still fulfilling obligations related to employee safety and support. The Trust's mission contributes to a safer workplace, ultimately benefiting both staff and students in the district.
This information is meant to be a general summary of Neshaminy School District 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.
- Investment Income: $965
- Gross Receipts: $965
Assets and Liabilities:
- Total Assets: $461,474
- Total Liabilities: $539,553
- Net Assets: -$78,079
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Organization Details
Founding Year
1995
Phone
(610) 687-3869Principal Officer
Greg Famous
Main Address
200 NORTH WARNER RD RM 240, KING OF PRUSSIA, PA, 19406
NTEE Category
Code: B20I - Education
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