Overview
What is Kentucky Assigned Claims Plan?
Kentucky Assigned Claims Plan is a nonprofit organization situated in Louisville, Kentucky. Its primary mission is to assign claims from individuals who are entitled to compensation under Kentucky Revised Statutes 304 Sub 39 to servicing insurers. This process involves investigating and paying valid claims, followed by reimbursing the servicing insurers for claim payments and related expenses. The plan operates on an annual assessment basis, where member companies are charged based on the aggregate of claim payments and expenses. The goal of the Kentucky Assigned Claims Plan is to facilitate the resolution of claims, ensuring that eligible individuals receive the compensation they are entitled to.
Official website here: www.kyinsplans.org
Is Kentucky Assigned Claims Plan legitimate?
Kentucky Assigned Claims Plan is a legitimate nonprofit organization registered as a 501(c)(6) entity. Kentucky Assigned Claims Plan 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: $32,607
Professional Fundraising Fees: $0
Other Salaries and Wages: $161,862
For more financial information, click here
Official website here: www.kyinsplans.org
What is the mission statement of Kentucky Assigned Claims Plan?
The Kentucky Assigned Claims Plan's mission is to assign claims from individuals seeking entitlements under Kentucky Revised Statutes 304 Sub 39 to servicing insurers. Upon assignment, the servicing insurers are responsible for investigating and paying valid claims. The plan then reimburses these insurers for the claim payments and associated expenses. The member companies are assessed on an annual basis based on the aggregate of claim payments and expenses. This assessment mechanism ensures the plan's financial sustainability, enabling it to continue assigning claims and providing reimbursement services.
Official website here: www.kyinsplans.org
Who is the CEO of Kentucky Assigned Claims Plan?
Stephen Hillis is the Chairperson of Kentucky Assigned Claims Plan.
Official website here: www.kyinsplans.org
What is the revenue of Kentucky Assigned Claims Plan?
Kentucky Assigned Claims Plan's revenue in 2022 was $2,536,996.
Official website here: www.kyinsplans.org
Who are the executives of Kentucky Assigned Claims Plan and what are their salaries?
Here are 10 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $25,734
- Related: $248,543
- Other: $68,720
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- 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.kyinsplans.org
Where can I find the form 990 for Kentucky Assigned Claims Plan?
Kentucky Assigned Claims Plan's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.kyinsplans.org
Learn more at the official website: www.kyinsplans.org
Mission Statement of Kentucky Assigned Claims Plan
The Kentucky Assigned Claims Plan serves a crucial role in assigning claims to servicing insurers for claimants under Kentucky Revised Statutes 304 Sub 39. In essence, this organization takes claims from individuals who believe they are entitled to benefits according to the aforementioned statute and assigns them to servicing insurers for investigation and payment. The assigned servicing insurers are responsible for evaluating the validity of the claims and making necessary payments, while the Kentucky Assigned Claims Plan reimburses these insurers for the claim payments and associated expenses. The plan also assesses member companies on an annual basis, taking into account the aggregate of claim payments and expenses as a means of funding its operations.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The Kentucky Assigned Claims Plan significantly impacts individuals who have claims under Kentucky Revised Statutes 304 Sub 39 by ensuring they receive timely compensation. When a claimant is unable to secure insurance coverage or access funds for valid claims, the plan serves as a safety net, facilitating the assignment of these claims to servicing insurers.
These servicing insurers are tasked with investigating and processing claims, which streamlines the claims resolution process. By doing so, the plan not only aids the claimants in expediting their financial recovery but also helps maintain the integrity of the insurance system by ensuring that valid claims are addressed.
Additionally, the plan supports a structured reimbursement mechanism for servicing insurers, covering claim payments and associated expenses. This creates an efficient ecosystem where insurers are incentivized to handle claims diligently, while claimants benefit from having their needs addressed without facing undue delays. Overall, the Kentucky Assigned Claims Plan plays a crucial role in safeguarding the rights of claimants and ensuring they receive the entitlements they deserve under the law.
This information is meant to be a general summary of Kentucky Assigned Claims Plan. 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: $7,244
- Program Service Revenue: $2,529,752
- Gross Receipts: $2,536,996
Assets and Liabilities:
- Total Assets: $5,807,533
- Total Liabilities: $981,846
- Net Assets: $4,825,687
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SUBROGATION RECOVERY
Revenue
$1,351,980
ASSESSMENTS
Revenue
$1,176,872
MEMBERSHIP FEES
Revenue
$900
Organization Details
Founding Year
1980
Phone
(502) 327-0819Principal Officer
Stephen Hillis
Main Address
PO BOX 437249, LOUISVILLE, KY, 40243
Website
www.kyinsplans.orgNTEE Category
Code: Y20 - Mutual benefit
If you are a representative of Kentucky Assigned Claims Plan and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.