Overview
What is Electric Cooperatives Health Benefits Plan?
Electric Cooperatives Health Benefits Plan is a nonprofit organization in Montgomery, Alabama, dedicated to collecting employer contributions to fund health and welfare benefits. These contributions are used to cover health claim costs and administrative expenses associated with the plan's operation. The primary mission of the Electric Cooperatives Health Benefits Plan is to provide health benefits for participating employers.
What are the reviews and ratings of this charity?
The Electric Cooperatives Health Benefits Plan is not currently rated by Charity Navigator, primarily because it is not a 501(c)(3) IRS registered nonprofit. Charity Navigator typically evaluates organizations based on factors such as Accountability & Finance or Impact & Measurement, but these assessments cannot be applied here due to the plan's IRS status.
The significance of a missing Charity Navigator rating should not be misconstrued as inherently positive or negative, as it simply results from the organization's structural classification. Historically, ratings were mostly focused on financial accountability without insights into cultural or leadership adaptability.
With no user reviews available from GreatNonprofits, public feedback on the plan's effectiveness, stakeholder engagement, and overall impacts is not documented in this context. The lack of these data points highlights a potential area for increased transparency or public engagement initiatives for similar entities lacking IRS 501(c)(3) status.
This AI summary has been generated from information found on Charity Navigator.
Is Electric Cooperatives Health Benefits Plan legitimate?
Electric Cooperatives Health Benefits Plan is a legitimate nonprofit organization registered as a 501(c)(9) entity. Electric Cooperatives Health Benefits 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.
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What is the mission statement of Electric Cooperatives Health Benefits Plan?
The Electric Cooperatives Health Benefits Plan is committed to providing health benefits for participating employers. The primary activity of the plan involves collecting employer contributions which are then utilized to fund the health and welfare plan. The allocated funds are channeled towards covering health claims costs and managing the administrative expenses associated with the plan's operation. The plan aims to ensure that the contributions made by employers are effectively used to cater to the healthcare needs of their workforce. By pooling resources, the plan is able to offer comprehensive health benefits to a large number of employees and their families. The ultimate objective is to maintain the wellbeing of the workforce, enabling them to focus on their professional duties while having peace of mind concerning their healthcare coverage.
Who is the CEO of Electric Cooperatives Health Benefits Plan?
Brian Matney is the Trustee of Electric Cooperatives Health Benefits Plan.
What is the revenue of Electric Cooperatives Health Benefits Plan?
Electric Cooperatives Health Benefits Plan's revenue in 2022 was $33,927,826.
Who are the executives of Electric Cooperatives Health Benefits Plan and what are their salaries?
Here are 22 key members and their salaries:
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- Related: $299,514
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- Related: $166,000
- Other: $40,204
Where can I find the form 990 for Electric Cooperatives Health Benefits Plan?
Electric Cooperatives Health Benefits Plan's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Electric Cooperatives Health Benefits Plan
Electric Cooperatives Health Benefits Plan, a health and welfare organization, is dedicated to gathering contributions from participating employers to fund its operations. The primary goal of this plan is to utilize these collected funds to cover health claims costs and manage the administrative expenses associated with running the plan effectively. By pooling resources from various employers, the Electric Cooperatives Health Benefits Plan is able to provide comprehensive health benefits to a large and diverse group of individuals. The plan's mission is to serve as a reliable source of healthcare coverage for the workforce of its contributing employers, ensuring their employees have access to essential healthcare services and resources when they need it most.
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Impact
October, 2024
The Electric Cooperatives Health Benefits Plan significantly impacts the health and welfare of employees across participating employers by offering a structured approach to health benefits. By pooling resources through contributions from various employers, the plan enables access to vital health services while efficiently managing costs associated with health claims and administrative operations.
This collaborative model not only helps employers provide competitive health benefits to their employees but also promotes a sense of community among electric cooperatives. The resulting financial stability enhances employee satisfaction and retention, ultimately contributing to a healthier workforce and a more robust local economy. Moreover, the plan ensures that the funds collected are strategically utilized, providing effective coverage and support where it is needed most.
This information is meant to be a general summary of Electric Cooperatives Health Benefits 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.
- Investment Income: $80,691
- Program Service Revenue: $33,847,135
- Gross Receipts: $33,927,826
Assets and Liabilities:
- Total Assets: $3,537,505
- Total Liabilities: $3,089,369
- Net Assets: $448,136
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PREMIUMS COLLECTED
Revenue
$33,746,487
REINSURANCE PREMIUMS REIMBURSEMEN
Revenue
$100,648
Organization Details
Founding Year
2008
Phone
(334) 215-2732Principal Officer
Brian Matney
Main Address
POST OFFICE BOX 244014, MONTGOMERY, AL, 361244014
NTEE Category
Code: Y43 - Mutual benefit
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