Overview
What is Vada Insurance Company?
Vada Insurance Company is a specialized insurance provider located in Barre, Vermont (05641). Its primary role is to offer reinsurance services to the Medical Benefits Trust, an entity that provides medical and other benefits to eligible employees and their dependents of participating dealerships, affiliated with the Vermont Automobile Dealers' Association, Inc. Operating as a captive insurance company, Vada Insurance Company adheres to the regulations set forth by Title 8, Vermont Statutes Annotated, Chapter 141, to cater to its sole member and their beneficiaries.
Official website here: www.vermontada.org
Is Vada Insurance Company legitimate?
Vada Insurance Company is a legitimate nonprofit organization registered as a 501(c)(9) entity. Vada Insurance Company 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
For more financial information, click here
Official website here: www.vermontada.org
What is the mission statement of Vada Insurance Company?
Vada Insurance Company is established with the primary purpose of offering insurance and reinsurance services, functioning as a captive insurance company, in accordance with Vermont's Title 8, Chapter 141 statutes. The company is specifically designed to cater to its sole member and their beneficiaries. Its primary activity involves providing reinsurance services to the Medical Benefits Trust, an entity that offers medical and other benefits to eligible employees and their dependents of participating dealers affiliated with the Vermont Automobile Dealers' Association, Inc. The role of Vada Insurance Company is to support this trust in offering these crucial benefits.
Official website here: www.vermontada.org
Who is the CEO of Vada Insurance Company?
Daniel Keene is the President of Vada Insurance Company.
Official website here: www.vermontada.org
What is the revenue of Vada Insurance Company?
Vada Insurance Company's revenue in 2021 was -$222,911.
Official website here: www.vermontada.org
Who are the executives of Vada Insurance Company and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $107,423
- Other: $29,326
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.vermontada.org
Where can I find the form 990 for Vada Insurance Company?
Vada Insurance Company's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.vermontada.org
Learn more at the official website: www.vermontada.org
Mission Statement of Vada Insurance Company
Vada Insurance Company, as a captive insurance company, is established with a specific mission. It is organized and operated under Title 8, Vermont Statutes Annotated, Chapter 141, Captive Insurance Companies, for the sole purpose of providing reinsurance to its parent company and its beneficiaries. The company's primary role is to write insurance and reinsurance, serving as a financial risk management tool for its sole member. This mission allows Vada Insurance Company to offer essential protection to its parent company and its associated entities, ensuring financial stability and peace of mind. By operating as a captive insurance company, Vada Insurance Company is able to tailor its insurance offerings to the unique needs and risks of its parent company, providing a level of customization and control that is not always available through traditional insurance providers.
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Impact
October, 2024
Vada Insurance Company significantly impacts the financial stability and healthcare benefits of its members by providing essential reinsurance services. Operating as a captive insurance company in Vermont, it specializes in underwriting conditions that support the Medical Benefits Trust. This trust is crucial for delivering medical and other benefits to eligible employees of participating employers within the Vermont Automobile Dealers' Association.
By offering targeted reinsurance, Vada Insurance Company helps mitigate financial risks associated with healthcare expenses, ensuring that the medical needs of employees and their dependents are met efficiently. This support fosters a more secure employment environment for dealer members, ultimately enhancing their ability to attract and retain talent.
The company's focused approach not only stabilizes healthcare costs for its members but also contributes to the overall health and wellbeing of the local workforce, reinforcing its role as a vital entity within the community it serves.
This information is meant to be a general summary of Vada Insurance Company. 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 2021.
- Investment Income: -$222,911
- Gross Receipts: $1,193,976
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Organization Details
Founding Year
2014
Principal Officer
Daniel Keene
Main Address
1284 US Route 302 2, Barre, VT, 05641
Website
www.vermontada.orgNTEE Category
Code: Y43 - Mutual benefit
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