Overview
What is Waicu Benefits Consortium Inc?
Waicu Benefits Consortium Inc is a nonprofit organization based in Madison, Wisconsin. The primary purpose of this consortium was to create and manage a health and welfare plan, which falls under the definition of an "Employee Welfare Benefit Plan" according to the Employee Retirement Income Security Act of 1974. The plan caters to the employees of multiple colleges and universities that are members of WAICU. The consortium's mission is to establish and maintain this plan, offering various benefits such as life, sick, and accident coverages for the employees in question.
What are the reviews and ratings of this charity?
Waicu Benefits Consortium Inc is not currently rated by Charity Navigator. This absence of a rating is primarily due to its classification, as it is not a 501(c)(3) IRS registered nonprofit, which is a requirement for evaluation. Charity Navigator's ratings require specific criteria regarding accountability and financial metrics that this organization does not meet under their current guidelines.
While previous methodologies mainly focused on Accountability and Finance, this organization's lack of 501(c)(3) status precludes it from being assessed even by these criteria. As such, no concrete data regarding financials or key personnel salaries is available, and there is no indication of whether this reflects positively or negatively on the organization.
Since there are no user reviews available on GreatNonprofits, additional insights from public sentiment are not present, leaving a gap in understanding the direct impact or reception of the organization from the community level. This lack of data makes it challenging to draw any firm conclusions about their effectiveness or reputation.
This AI summary has been generated from information found on Charity Navigator.
Is Waicu Benefits Consortium Inc legitimate?
Waicu Benefits Consortium Inc is a legitimate nonprofit organization registered as a 501(c)(9) entity. Waicu Benefits Consortium 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.
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What is the mission statement of Waicu Benefits Consortium Inc?
Waicu Benefits Consortium Inc was established with the primary objective of creating and managing a health and welfare plan. The consortium aims to provide life, sickness, and accident benefits, among others, forming an "employee welfare benefit plan" as defined by the Employee Retirement Income Security Act of 1974. This plan caters to the employees of various colleges and universities associated with Waicu, ensuring their wellbeing and financial security.
Who is the CEO of Waicu Benefits Consortium Inc?
Eric Fulcomer is the Director of Waicu Benefits Consortium Inc.
What is the revenue of Waicu Benefits Consortium Inc?
Waicu Benefits Consortium Inc's revenue in 2023 was $23,815,673.
Who are the executives of Waicu Benefits Consortium Inc and what are their salaries?
There 9 volunteers at Waicu Benefits Consortium Inc.
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Where can I find the form 990 for Waicu Benefits Consortium Inc?
Waicu Benefits Consortium Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Waicu Benefits Consortium Inc
Waicu Benefits Consortium Inc, a nonprofit organization, was established with the primary objective of creating and sustaining a health and welfare plan. This plan, which is maintained for the benefit of employees from various colleges and universities that are members of WAICU, offers coverage for life, sickness, accident, and similar benefits. The Employee Retirement Income Security Act of 1974 classifies this plan as an "employee welfare benefit plan." Through this initiative, the organization ensures the financial security and well-being of its members' workforce.
By pooling resources and expertise from its diverse membership, Waicu Benefits Consortium Inc is able to provide comprehensive benefits solutions tailored to the unique needs of the higher education community. The organization's primary focus is on delivering essential benefits that enable employees to maintain their overall health and wellbeing, providing peace of mind and financial stability for them and their families. In doing so, the nonprofit fosters a more productive and engaged workforce, ultimately contributing to the success of its member institutions.
In summary, Waicu Benefits Consortium Inc plays a vital role in the higher education sector by offering a health and welfare plan that caters to the needs of employees from its member colleges and universities. By providing essential benefits, the organization supports the overall well-being and financial security of its members' workforce, contributing to a more engaged and productive workforce.
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Impact
October, 2024
Waicu Benefits Consortium Inc plays a significant role in enhancing the welfare of employees affiliated with various colleges and universities. By establishing and maintaining a comprehensive health and welfare plan, it provides crucial support through benefits covering life, sickness, accidents, and similar needs. This framework ensures that employees have access to essential resources, contributing to their overall well-being and job satisfaction.
The impact of Waicu Benefits Consortium is particularly evident in its ability to create a safety net for employees, promoting a healthier work environment. By aligning with the Employee Retirement Income Security Act of 1974, the consortium ensures that its benefits meet established standards, thereby increasing trust and security among employees. Additionally, such programs can enhance recruitment and retention efforts for its member institutions, allowing them to attract and keep quality staff.
In essence, Waicu Benefits Consortium Inc not only improves the quality of life for employees but also fosters a culture of mutual benefit within the academic community, ultimately contributing to a more supportive and effective educational environment.
This information is meant to be a general summary of Waicu Benefits Consortium 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 2023.
- Investment Income: $67,653
- Program Service Revenue: $23,748,020
- Gross Receipts: $24,118,925
Assets and Liabilities:
- Total Assets: $11,901,634
- Total Liabilities: $285,211
- Net Assets: $11,616,423
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PLAN CONTRIBUTIONS
Revenue
$23,748,020
Organization Details
Founding Year
2003
Phone
(608) 256-7761Principal Officer
Eric Fulcomer
Main Address
122 W WASHINGTON AVE 700, MADISON, WI, 53703
NTEE Category
Code: Y43 - Mutual benefit
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