Overview
What is North Carolina Self Insurance Security Association?
The North Carolina Self Insurance Security Association is a nonprofit entity established by the state legislature in 1986, operating under Article 4, Chapter 97 of the North Carolina General Statutes. This unincorporated legal entity, exempt from taxes, aims to provide a solution for the payment of covered workers' compensation claims. In response to 2006 and 2011 statutory amendments, its services have expanded to include procuring financial guarantees, insurance, reinsurance, or other instruments, collectively securing outstanding obligations for individual member self-insurance programs. The association's primary mission is to ensure the financial stability and protection of workers in North Carolina, providing a safety net in case of workers' compensation claims.
Official website here: www.ncsisa.org
Is North Carolina Self Insurance Security Association legitimate?
North Carolina Self Insurance Security Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. North Carolina Self Insurance Security Association 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.ncsisa.org
What is the mission statement of North Carolina Self Insurance Security Association?
The North Carolina Self Insurance Security Association serves a crucial role by providing a mechanism to settle covered workers' compensation claims. Established in 1986, the association operates under the authorization of the North Carolina General Assembly and is recognized as a tax-exempt unincorporated legal entity. In response to legislative amendments in 2006 and 2011, the association expanded its services to include purchasing financial guarantees, insurance, reinsurance, or other instruments to collectively secure all outstanding obligations of its individual member self-insured entities. This collective approach aims to ensure financial security and reliable claim settlements for workers across North Carolina.
Official website here: www.ncsisa.org
Who is the CEO of North Carolina Self Insurance Security Association?
Thomas R Yarboro is the Chairman of North Carolina Self Insurance Security Association.
Official website here: www.ncsisa.org
What is the revenue of North Carolina Self Insurance Security Association?
North Carolina Self Insurance Security Association's revenue in 2022 was $1,919,399.
Official website here: www.ncsisa.org
Who are the executives of North Carolina Self Insurance Security Association and what are their salaries?
Here are 11 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: $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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.ncsisa.org
Where can I find the form 990 for North Carolina Self Insurance Security Association?
North Carolina Self Insurance Security Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ncsisa.org
Learn more at the official website: www.ncsisa.org
Mission Statement of North Carolina Self Insurance Security Association
The North Carolina Self Insurance Security Association, established by the North Carolina General Assembly in 1986, serves a crucial role in the workers' compensation claims scenario. This tax-exempt unincorporated legal entity, operating under Article 4, Chapter 97 of the North Carolina General Statutes, provides a mechanism to settle covered workers' compensation claims. In response to statutory amendments in 2006 and 2011, the association expanded its services to incorporate the purchase of financial guarantees, insurance, reinsurance, or other instruments, enabling it to collectively secure all outstanding individual member self-insured obligations. This expansion aims to ensure financial stability and claim payment reliability for its members.
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 North Carolina Self Insurance Security Association plays a crucial role in ensuring that workers' compensation claims are paid in a timely and efficient manner. Established in 1986 by the North Carolina General Assembly, it provides a structured mechanism for covering these claims, giving both employers and employees peace of mind concerning workplace injuries.
By offering financial guarantees, insurance, and reinsurance, the Association supports self-insured employers in meeting their obligations when accidents occur. This not only helps maintain the stability of the workers' compensation system but also enhances the trust in self-insured arrangements across the state. Furthermore, the organization's continuous improvement and adaptation through legislative updates demonstrate its commitment to addressing the evolving needs of both the workforce and employers in North Carolina.
The existence of the North Carolina Self Insurance Security Association fosters a safer working environment, as employers are encouraged to participate in self-insurance knowing they have a reliable entity to assist with claims management. Overall, its impact extends beyond financial security, contributing to a more resilient and accountable workers' compensation framework in the state.
This information is meant to be a general summary of North Carolina Self Insurance Security Association. 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: $299,059
- Program Service Revenue: $1,620,340
- Gross Receipts: $17,325,494
Assets and Liabilities:
- Total Assets: $42,811,926
- Total Liabilities: $7,255,971
- Net Assets: $35,555,955
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.
ASSESSMENTS
Revenue
$1,398,249
PROCEEDS FROM INSOLVENT MEMBERS
Revenue
$222,091
Organization Details
Founding Year
1986
Phone
(704) 636-8933Principal Officer
Thomas R Yarboro
Main Address
POST OFFICE BOX 12442, RALEIGH, NC, 276052442
Website
www.ncsisa.orgNTEE Category
Code: Y20 - Mutual benefit
If you are a representative of North Carolina Self Insurance Security Association 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.