Overview
What is Blue Ridge Mutual Association Inc?
Blue Ridge Mutual Association Inc is a mutual assessment organization based in Galax, Virginia. As per their mission, they prioritize timely premium collection from their members and prompt claim payments to policyholders or beneficiaries who may have passed away during the year. All earnings generated by the organization are utilized for tax-exempt purposes, contributing towards its long-term sustainability and continuity. The primary objective of Blue Ridge Mutual Association Inc is to deliver efficient services to its policyholders, ensuring their premiums are managed effectively and claims are processed promptly.
Is Blue Ridge Mutual Association Inc legitimate?
Blue Ridge Mutual Association Inc is a legitimate nonprofit organization registered as a 501(c)(12) entity. Blue Ridge Mutual Association 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,500
Professional Fundraising Fees: $0
Other Salaries and Wages: $44,308
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What is the mission statement of Blue Ridge Mutual Association Inc?
Blue Ridge Mutual Association Inc's mission is centered around serving its policyholders effectively. The organization strives to collect premiums promptly from its members and ensure timely payment of claims to those who have unfortunately passed away during the year. In line with this mission, Blue Ridge Mutual Association Inc utilizes all its earnings for tax-exempt purposes and works towards maintaining and strengthening the organization for the future.
What is the revenue of Blue Ridge Mutual Association Inc?
Blue Ridge Mutual Association Inc's revenue in 2024 was $335,550.
Who are the executives of Blue Ridge Mutual Association Inc and what are their salaries?
The average compensation at Blue Ridge Mutual Association Inc during 2024 was $22,904. There are 2 employees at Blue Ridge Mutual Association Inc.
Here are 5 key members and their salaries:
- Compensation: $23,128
- Related: $500
- Other: $0
- Compensation: $19,546
- Related: $0
- Other: $0
- Compensation: $0
- Related: $500
- Other: $0
- Compensation: $0
- Related: $500
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Blue Ridge Mutual Association Inc?
Blue Ridge Mutual Association Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Blue Ridge Mutual Association Inc
Blue Ridge Mutual Association Inc, as a mutual assessment organization, is dedicated to serving its policyholders effectively. Their primary mission is to ensure the prompt collection of premiums from their members and the timely payment of claims to those policyholders or beneficiaries who may have passed away during the year. This mission statement reflects Blue Ridge Mutual Association Inc's commitment to providing reliable and efficient services to its policyholders, utilizing all earnings for tax-exempt purposes and for the continued existence of the organization.
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Impact
October, 2024
Blue Ridge Mutual Association Inc plays a significant role in supporting the financial security of its members within the community. By efficiently collecting member premiums and ensuring timely payment of claims, the organization fosters trust and reliability among its policyholders. This approach not only helps families during difficult times, such as the bereavement of a loved one, but also strengthens the overall sense of community by providing peace of mind.
Through its commitment to tax-exempt purposes and the perpetuation of its mission, Blue Ridge Mutual Association Inc champions a model of mutual benefit that emphasizes member support and solidarity. The organization's operations in Galax, VA, contribute to a collective safety net, reinforcing both fiscal responsibility and community ties. Ultimately, the impact of Blue Ridge Mutual Association is felt through the financial stability and support it offers to individuals and families, ensuring they receive the assistance they need when facing life's challenges.
This information is meant to be a general summary of Blue Ridge Mutual Association 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 2024.
- Investment Income: $257,871
- Program Service Revenue: $70,056
- Gross Receipts: $524,674
Assets and Liabilities:
- Total Assets: $6,285,202
- Total Liabilities: $0
- Net Assets: $6,285,202
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Assessments
Revenue
$84,740
Organization Details
Founding Year
1936
Principal Officer
Larry Blevins Jr
NTEE Category
Code: Y20 - Mutual benefit
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