Overview
What is Southern Maryland Elec Cooperative Inc Workers Compensation Plan?
Southern Maryland Electric Cooperative Inc's Workers Compensation Plan is a dedicated trust established to ensure appropriate worker's compensation benefits for the cooperative's employees and their beneficiaries. The plan makes necessary contributions to fund projected costs, with monthly payments continuing until the trust is considered adequately funded. The trust provides these benefits through self-insurance and excess coverage, as directed by the court and other relevant authorities. This plan ensures that employees are protected and supported during periods of injury or illness, promoting a safer and more secure work environment for all within the cooperative.
Official website here: www.smeco.coop
Is Southern Maryland Elec Cooperative Inc Workers Compensation Plan legitimate?
Southern Maryland Elec Cooperative Inc Workers Compensation Plan is a legitimate nonprofit organization registered as a 501(c)(4) entity. Southern Maryland Elec Cooperative Inc Workers Compensation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.smeco.coop
What is the mission statement of Southern Maryland Elec Cooperative Inc Workers Compensation Plan?
The Southern Maryland Electric Cooperative Inc.'s Workers Compensation Plan, through a trust, provides worker's compensation benefits to its employees and their beneficiaries, as mandated by the court and other authorities. This is accomplished through self and excess coverage insurance policies. The cooperative makes necessary contributions to the trust to cover projected costs, with contributions made on a monthly basis until management deems the trust sufficiently funded. The plan's primary objective is to offer financial assistance and support to workers who may be injured or fall ill during their employment.
Official website here: www.smeco.coop
Who is the CEO of Southern Maryland Elec Cooperative Inc Workers Compensation Plan?
Beth A Kennedy is the President & of Southern Maryland Elec Cooperative Inc Workers Compensation Plan.
Official website here: www.smeco.coop
What is the revenue of Southern Maryland Elec Cooperative Inc Workers Compensation Plan?
Southern Maryland Elec Cooperative Inc Workers Compensation Plan's revenue in 2022 was $847,261.
Official website here: www.smeco.coop
Who are the executives of Southern Maryland Elec Cooperative Inc Workers Compensation Plan and what are their salaries?
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $697,696
- Other: $290,883
- Compensation: $0
- Related: $304,029
- Other: $99,242
- Compensation: $0
- Related: $42,400
- Other: $0
- Compensation: $0
- Related: $40,100
- Other: $0
- Compensation: $0
- Related: $37,100
- Other: $0
- Compensation: $0
- Related: $34,300
- Other: $0
- Compensation: $0
- Related: $32,800
- Other: $0
- Compensation: $0
- Related: $31,000
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.smeco.coop
Where can I find the form 990 for Southern Maryland Elec Cooperative Inc Workers Compensation Plan?
Southern Maryland Elec Cooperative Inc Workers Compensation Plan's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.smeco.coop
Learn more at the official website: www.smeco.coop
Mission Statement of Southern Maryland Elec Cooperative Inc Workers Compensation Plan
Southern Maryland Electric Cooperative Inc's Workers Compensation Plan serves a crucial role in providing worker's compensation benefits to its employees and their beneficiaries. This plan is funded through self and excess coverage insurance, as mandated by the court and other authorities. The mission of this plan is to offer financial assistance and support to workers who may sustain injuries or illnesses during their employment, ensuring they receive the necessary benefits to cover medical expenses and lost wages. The cooperative makes contributions to this trust on a regular basis, contributing an amount deemed necessary to cover projected costs, until management believes the trust is adequately funded. The Southern Maryland Elec Cooperative Inc's Workers Compensation Plan plays a vital role in safeguarding the well-being and financial security of its employees, providing them with the support they need in times of adversity.
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Impact
October, 2024
The Southern Maryland Electric Cooperative Inc Workers Compensation Plan provides essential worker's compensation benefits to employees and their beneficiaries, ensuring that they receive the necessary support in case of work-related injuries or illnesses. By offering both self-insured and excess coverage, the plan guarantees that the financial needs arising from workplace incidents are met, adhering to the guidelines specified by the court or other authorities.
Regular contributions made by the cooperative to fund the trust are a proactive measure to ensure that the plan remains adequately financed for future claims. This financial strategy is crucial for maintaining the stability and reliability of the benefits provided, ensuring employees have access to necessary medical care and compensation for lost wages. The plan not only protects the workforce but also fosters a culture of safety and support within the organization, enhancing employee morale and loyalty.
Overall, the impact of this compensation plan extends beyond mere compliance with legal requirements; it promotes a safer work environment and contributes to the overall well-being of employees and their families in Hughesville, MD.
This information is meant to be a general summary of Southern Maryland Elec Cooperative Inc Workers Compensation 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: $3,133
- Program Service Revenue: $844,128
- Gross Receipts: $847,261
Assets and Liabilities:
- Total Assets: $2,413,779
- Total Liabilities: $1,626,124
- Net Assets: $787,655
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$844,128
Organization Details
Founding Year
1982
Phone
(301) 274-4328Principal Officer
Beth A Kennedy
Main Address
PO BOX 1937, HUGHESVILLE, MD, 206371937
Website
www.smeco.coopNTEE Category
Code: Y20 - Mutual benefit
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