Overview
What is Risk Acceptance Management Corporation?
Risk Acceptance Management Corporation (RAMCO) is a not-for-profit organization situated in Winston-Salem, North Carolina. Its primary mission is to administer insurance-related services and manage claims, as well as reserve funding, on behalf of the City of Winston-Salem. The organization plays a crucial role in managing the city's liability risk management program, ensuring effective and efficient handling of claims and associated costs. RAMCO operates under an agreement with the city, where the city pays an annual fee to cover the administration expenses, if necessary.
Is Risk Acceptance Management Corporation legitimate?
Risk Acceptance Management Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Risk Acceptance Management Corporation 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
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What is the mission statement of Risk Acceptance Management Corporation?
Risk Acceptance Management Corporation, a not-for-profit organization, is established to manage the liability risk of a city, in this case, Winston-Salem. The corporation provides claims-related services and administers claims and reserve funding on behalf of the city. In return, the city agrees to make an annual payment to cover the administration costs of the program if they fall short. The mission of Risk Acceptance Management Corporation is to effectively manage the city's risk, ensuring financial security and minimizing potential liabilities.
Who is the CEO of Risk Acceptance Management Corporation?
Kelly Latham is the President/Director of Risk Acceptance Management Corporation.
What is the revenue of Risk Acceptance Management Corporation?
Risk Acceptance Management Corporation's revenue in 2022 was $4,248,054.
Who are the executives of Risk Acceptance Management Corporation and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $181,977
- Other: $26,629
- Compensation: $0
- Related: $151,563
- Other: $34,827
- Compensation: $0
- Related: $26,360
- Other: $12,785
- Compensation: $0
- Related: $22,488
- Other: $22,684
- Compensation: $0
- Related: $79,558
- Other: $15,601
- Compensation: $0
- Related: $119,570
- Other: $11,485
Where can I find the form 990 for Risk Acceptance Management Corporation?
Risk Acceptance Management Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Risk Acceptance Management Corporation
Risk Acceptance Management Corporation, a not-for-profit organization, was established with a mission to manage the liability risk of the City of Winston-Salem. This corporation is responsible for administering the city's risk management program. In exchange for this service, the city agrees to make an annual payment to cover the administration costs, should they be insufficient. Risk Acceptance Management Corporation provides various insurance-related services and manages claims and reserve funding on behalf of the City of Winston-Salem, North Carolina. In essence, this organization plays a crucial role in mitigating potential financial losses for the city by administering its risk management program effectively.
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Impact
October, 2024
Risk Acceptance Management Corporation (RAMCO) significantly impacts the city of Winston-Salem by providing essential claims-related services. By administering claims and managing claims reserve funding, RAMCO plays a crucial role in the city's liability risk management program, ensuring that claims are handled efficiently and effectively. This support not only mitigates potential financial risks for the city but also enhances overall operational reliability.
Through its structured approach to claims administration, RAMCO provides the city with the expertise needed to navigate complex insurance processes and maintain fiscal responsibility. Its operations help to streamline claims handling, allowing the city to focus on other critical functions while managing liabilities more effectively. The corporation's presence facilitates a cooperative agreement where the city compensates RAMCO annually, ensuring that there are adequate resources dedicated to managing the city's risk exposure.
Overall, RAMCO's work contributes to the stability and resilience of public services in Winston-Salem, promoting a mutually beneficial relationship that enhances the city's ability to serve its residents while responsibly managing potential liabilities.
This information is meant to be a general summary of Risk Acceptance Management Corporation. 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: $4,248,054
- Gross Receipts: $4,378,244
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Organization Details
Founding Year
1988
Phone
(336) 747-6920Principal Officer
Kelly Latham
Main Address
100 EAST FIRST STREET NO 580, WINSTONSALEM, NC, 27101
NTEE Category
Code: Y200 - Mutual benefit
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