Overview
What is Kentucky Group Self-Insurance Guaranty Fund?
The Kentucky Group Self-Insurance Guaranty Fund is a nonprofit entity established in Louisville, Kentucky. Its primary purpose is to ensure the fulfillment of workers' compensation obligations for financially insolvent member groups or associations within self-insurance groups or associations. By doing so, the Fund safeguards the interests of employees and maintains financial stability within these organizations. The Fund's mission is clearly defined as meeting the obligations of insolvent self-insurance groups or associations, thereby maintaining trust and continuity within the industry.
Is Kentucky Group Self-Insurance Guaranty Fund legitimate?
Kentucky Group Self-Insurance Guaranty Fund is a legitimate nonprofit organization registered as a 501(c)(6) entity. Kentucky Group Self-Insurance Guaranty 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Kentucky Group Self-Insurance Guaranty Fund?
The Kentucky Group Self-Insurance Guaranty Fund is committed to fulfilling the obligations of financially struggling self-insurance groups or associations. Their primary mission is to ensure the payment of workers' compensation responsibilities for insolvent member groups or associations, as indicated in the provided information. Currently, the fund has not encountered any instances of insolvency.
Who is the CEO of Kentucky Group Self-Insurance Guaranty Fund?
David Witte is the Trustee of Kentucky Group Self-Insurance Guaranty Fund.
What is the revenue of Kentucky Group Self-Insurance Guaranty Fund?
Kentucky Group Self-Insurance Guaranty Fund's revenue in 2022 was $13,417.
Who are the executives of Kentucky Group Self-Insurance Guaranty Fund and what are their salaries?
There 3 volunteers at Kentucky Group Self-Insurance Guaranty Fund.
Here are 3 key members and their salaries:
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Where can I find the form 990 for Kentucky Group Self-Insurance Guaranty Fund?
Kentucky Group Self-Insurance Guaranty Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Kentucky Group Self-Insurance Guaranty Fund
The Kentucky Group Self-Insurance Guaranty Fund is dedicated to fulfilling the obligations of financially struggling self-insurance groups or associations. In simpler terms, this nonprofit organization exists to meet the workers' compensation responsibilities of insolvent member groups or associations, ensuring that necessary compensation is provided, even in the absence of financial stability within these organizations. As of now, the Fund has not encountered any instances of insolvency to handle.
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Impact
October, 2024
The Kentucky Group Self-Insurance Guaranty Fund plays a crucial role in maintaining stability and security within the workers' compensation system in Kentucky. It ensures that obligations to employees are met in the event that a self-insurance group or association becomes insolvent. By providing a safeguard against potential insolvencies, the fund not only protects the interests of workers but also upholds the integrity of the self-insurance model.
To date, there have been no insolvencies, which highlights the fund's effectiveness in mitigating risks associated with self-insurance. This protective measure fosters a more reliable environment for businesses and their employees, ultimately promoting confidence in the self-insurance structure. When businesses can trust that their workers' compensation obligations will be fulfilled, they are more likely to participate in self-insurance groups, which can lead to reduced costs and increased resources for various organizations.
In essence, the Kentucky Group Self-Insurance Guaranty Fund contributes significantly to the overall health of the workers' compensation system, ensuring that employees receive the protection they need while also supporting the sustainability of self-insuring entities.
This information is meant to be a general summary of Kentucky Group Self-Insurance Guaranty 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: $13,417
- Gross Receipts: $380,431
Assets and Liabilities:
- Total Assets: $962,913
- Total Liabilities: $0
- Net Assets: $962,913
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Organization Details
Founding Year
1997
Phone
(502) 245-8395Principal Officer
David Witte
Main Address
PO BOX 22989, LOUISVILLE, KY, 40252
NTEE Category
Code: Y20 - Mutual benefit
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