Overview
What is New York Independent Livery Driver Benefit Fund?
The New York Independent Livery Driver Benefit Fund is a not-for-profit organization, established and backed by New York State legislation, dedicated to providing workers' compensation insurance benefits for qualified livery drivers. This fund successfully manages its affairs by assessing and collecting contributions from member organizations, utilizing the collected funds to procure an insurance policy that provides necessary benefits to eligible drivers. The fund's operations adhere to fair, reasonable, and equitable standards, and it actively promotes compliance within its member organizations. By effectively managing its operations, the New York Independent Livery Driver Benefit Fund has significantly decreased the amount paid out to previously uninsured claimants and facilitates a quicker and more efficient process for livery drivers to obtain their entitled benefits.
Official website here: www.newyorkliveryfund.com
Is New York Independent Livery Driver Benefit Fund legitimate?
New York Independent Livery Driver Benefit Fund is a legitimate nonprofit organization registered as a 501(c)(6) entity. New York Independent Livery Driver Benefit Fund 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: $400
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.newyorkliveryfund.com
What is the mission statement of New York Independent Livery Driver Benefit Fund?
The New York Independent Livery Driver Benefit Fund, a legislatively created and sponsored workers' compensation insurance benefits fund, is tasked with managing the affairs of a not-for-profit corporation. Its primary mission is to collect funds from member organizations to procure an insurance policy that provides workers' compensation benefits to eligible livery drivers, as stipulated by Article 6-G of the Executive Law of New York State. The fund has successfully operated under its plan of operation, maintained an assessment formula for member organizations, renewed an insurance policy to provide benefits, and ensured fair and equitable administration of its funds. Additionally, it has initiated an outreach program to educate member organizations on compliance with the law and significantly decreased the amount paid by the New York State Uninsured Employers Fund to previous uninsured claimants. Consequently, livery drivers are able to obtain their entitlements in a more efficient manner.
Official website here: www.newyorkliveryfund.com
Who is the CEO of New York Independent Livery Driver Benefit Fund?
Avik Kabessa is the Chairman of New York Independent Livery Driver Benefit Fund.
Official website here: www.newyorkliveryfund.com
What is the revenue of New York Independent Livery Driver Benefit Fund?
New York Independent Livery Driver Benefit Fund's revenue in 2022 was $1,588,272.
Official website here: www.newyorkliveryfund.com
Who are the executives of New York Independent Livery Driver Benefit Fund and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $200
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $200
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.newyorkliveryfund.com
Where can I find the form 990 for New York Independent Livery Driver Benefit Fund?
New York Independent Livery Driver Benefit Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.newyorkliveryfund.com
Learn more at the official website: www.newyorkliveryfund.com
Mission Statement of New York Independent Livery Driver Benefit Fund
The New York Independent Livery Driver Benefit Fund, a state-legislated and sponsored entity, is dedicated to managing the affairs of a not-for-profit corporation. Its primary mission is to collect funds from member organizations and utilize these resources to obtain a policy of workers' compensation insurance. This insurance policy is intended to provide benefits to livery drivers who meet the criteria for such benefits under Article 6-G of the Executive Law of New York State. The fund ensures the fair, reasonable, and equitable administration of its funds, maintaining compliance among member organizations, and facilitating a quicker and more efficient process for livery drivers to obtain the benefits they are entitled to. The fund's outreach program serves to educate member organizations on the importance of adhering to the law, ultimately contributing to high levels of compliance and enabling the New York State Uninsured Employers Fund to significantly decrease payments to previously uninsured claimants.
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Impact
October, 2024
The New York Independent Livery Driver Benefit Fund has made a significant impact on the safety net for livery drivers in New York State by providing essential workers' compensation insurance benefits. By successfully operating under a legislatively created framework, the Fund ensures that livery drivers who qualify can access necessary benefits in a timely and efficient manner.
Key accomplishments include the establishment of a systematic approach for assessing member organizations and collecting funds, which are then used to renew a policy of insurance for eligible drivers. This structured operation not only aids individual drivers but contributes to the overall stability of the associated member organizations, enhancing compliance with state regulations.
The Fund's outreach initiatives have further educated member organizations on legal compliance, fostering a culture of accountability and understanding within the industry. As a result, there has been a notable increase in the compliance levels among member organizations, thereby reducing the financial burden on the New York State Uninsured Employers Fund, which has seen a decrease in payouts to previously uninsured claimants.
Overall, the New York Independent Livery Driver Benefit Fund has created a more equitable and accessible benefits system for livery drivers, ultimately strengthening the workforce's welfare and ensuring that drivers obtain the benefits to which they are entitled.
This information is meant to be a general summary of New York Independent Livery Driver Benefit Fund. 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: $5,914
- Program Service Revenue: $1,582,358
- Gross Receipts: $1,588,272
Assets and Liabilities:
- Total Assets: $2,177,238
- Total Liabilities: $1,015,650
- Net Assets: $1,161,588
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP FEES
Revenue
$1,469,912
PROFIT SHARING ON WORKERS COMP PO
Revenue
$112,446
Organization Details
Founding Year
2008
Phone
(212) 461-2244Principal Officer
Avik Kabessa
Main Address
CO SHANKER LAW 48 WALL ST 11 FL, NEW YORK, NY, 10005
Website
www.newyorkliveryfund.comNTEE Category
Code: Y25 - Mutual benefit
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