Overview
What is Nonprofit Insurance Trust Inc?
The Nonprofit Insurance Trust Inc is a Minnesota-based organization that specializes in administering self-insurance pools for nonprofit entities. With a focus on community-based rehabilitation facilities and employment training centers, the trust is home to a collective of organizations located in Lakeville. By overseeing self-insurance pools, the Nonprofit Insurance Trust enables nonprofits in Minnesota to manage their risks collectively and potentially save on insurance costs.
Official website here: www.nitmn.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96% (Four-Star out of Four Star rating)
Nonprofit Insurance Trust Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization scored 96% in this category, indicating a high level of transparency and responsible financial management. The evaluation is based solely on accountability and finance metrics, suggesting that the charity prioritizes these aspects in its operations.
One notable strength of Nonprofit Insurance Trust Inc is its fully independent board, scoring 100% in this area. This independence is complemented by a well-structured governance framework, including a comprehensive conflict of interest policy and a whistleblower policy, both of which enhance trust and integrity within the organization. Additionally, the charity has demonstrated sound financial practices, evidenced by its low liabilities to assets ratio and substantial program expense ratio, highlighting its commitment to utilizing funds effectively for its mission.
There are no significant limitations noted regarding the organization's operations or governance in the available data. Overall, Nonprofit Insurance Trust Inc stands out for its robust financial oversight and governance, making it a trustworthy choice for donors seeking to support a responsible nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is Nonprofit Insurance Trust Inc legitimate?
Nonprofit Insurance Trust Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nonprofit Insurance Trust Inc 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:
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For more financial information, click here
Official website here: www.nitmn.org
What is the mission statement of Nonprofit Insurance Trust Inc?
The Nonprofit Insurance Trust is a Minnesota-based organization committed to serving the insurance needs of nonprofit entities. Its primary focus lies in administering self-insurance pools, offering customized solutions to its member organizations. By pooling resources, these nonprofits can manage their risks collectively, thus reducing financial strain and ensuring stability. The Trust's mission underpins the belief that a strong insurance foundation allows nonprofits to devote more energy and resources to their core missions, ultimately benefiting the communities they serve.
Official website here: www.nitmn.org
Who is the CEO of Nonprofit Insurance Trust Inc?
Sarah Ackerman is the Chair of Nonprofit Insurance Trust Inc.
Official website here: www.nitmn.org
What is the revenue of Nonprofit Insurance Trust Inc?
Nonprofit Insurance Trust Inc's revenue in 2022 was $17,278,123.
Official website here: www.nitmn.org
Who are the executives of Nonprofit Insurance Trust Inc and what are their salaries?
There 9 volunteers at Nonprofit Insurance Trust Inc.
Here are 9 key members and their salaries:
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Official website here: www.nitmn.org
Where can I find the form 990 for Nonprofit Insurance Trust Inc?
Nonprofit Insurance Trust Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nitmn.org
Learn more at the official website: www.nitmn.org
Mission Statement of Nonprofit Insurance Trust Inc
The Nonprofit Insurance Trust, a Minnesota-based organization, is dedicated to administering self-insurance pools for various nonprofit organizations. Comprised of community-focused rehabilitation facilities and employment training centers, this reputable institution offers invaluable services to its members.
The Nonprofit Insurance Trust's mission lies in providing customized self-insurance solutions to nonprofits in Minnesota. By pooling resources, these organizations can collectively manage and mitigate their risks, ultimately leading to financial stability and peace of mind. Through the effective administration of these self-insurance pools, the Nonprofit Insurance Trust plays a significant role in supporting the crucial work of its member organizations.
These community-based rehabilitation facilities and employment training centers, which make up the Nonprofit Insurance Trust, are integral to the social fabric of Minnesota. By offering self-insurance solutions tailored to their unique needs, the Nonprofit Insurance Trust empowers these organizations to focus on their primary missions - enabling them to make a positive impact on the lives of countless individuals in their communities.
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Impact
October, 2024
Nonprofit Insurance Trust Inc significantly impacts the nonprofit sector in Minnesota by providing crucial self-insurance services tailored for community-based rehabilitation and employment training facilities. Located in Lakeville, this organization facilitates the pooling of resources among nonprofits, allowing them to manage risks more effectively and affordably.
By administering self-insurance pools, Nonprofit Insurance Trust Inc enables these organizations to share liabilities and lower insurance costs, ultimately enhancing their financial stability. This support empowers nonprofits to allocate more resources toward their core missions, fostering community development and rehabilitation efforts. The collaborative nature of the trust also fosters a sense of mutual benefit among its members, reinforcing community ties while ensuring that the participating organizations can operate with greater confidence and security.
This information is meant to be a general summary of Nonprofit Insurance Trust Inc. 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: $225,311
- Program Service Revenue: $17,052,812
- Gross Receipts: $22,223,056
Assets and Liabilities:
- Total Assets: $40,084,591
- Total Liabilities: $19,393,851
- Net Assets: $20,690,740
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Premium Income
Revenue
$17,052,812
Organization Details
Founding Year
2009
Phone
(952) 469-5963Principal Officer
Sarah Ackerman
Main Address
21034 Heron Way Ste 107, Lakeville, MN, 550440327
Website
www.nitmn.orgNTEE Category
Code: Y200 - Mutual benefit
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