Overview
What is Georgia Self Insurers Guaranty Trust Fund?
The Georgia Self Insurers Guaranty Trust Fund is a vital organization situated in Atlanta, Georgia. Its primary function is to safeguard workers' compensation claims for employees of self-insured employers, extending assistance to twenty-five such entities in 2022. When self-insured employers face financial difficulties and become insolvent, the fund steps in to assume their workers' compensation liabilities, ensuring that the affected employees receive the necessary benefits. The fund's role is crucial in maintaining financial security and stability for both employees and self-insured employers in the state of Georgia.
Official website here: www.gaguaranty.com
Is Georgia Self Insurers Guaranty Trust Fund legitimate?
Georgia Self Insurers Guaranty Trust Fund is a legitimate nonprofit organization registered as a 501(c)(6) entity. Georgia Self Insurers Guaranty Trust Fund 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.
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Official website here: www.gaguaranty.com
What is the mission statement of Georgia Self Insurers Guaranty Trust Fund?
The Georgia Self Insurers Guaranty Trust Fund's primary role is to assume the workers' compensation claims of self-insured employers if they encounter financial instability. This safeguards the rights of employees by ensuring their compensation claims are met, even in the event of the employer's insolvency. In 2022, the fund successfully paid workers' compensation claims for employees of twenty-five member companies, demonstrating its commitment to fulfilling its duties. The fund's mission is essentially to act as a safety net for employees in case their employers are unable to fulfill their workers' compensation obligations due to financial difficulties.
Official website here: www.gaguaranty.com
What is the revenue of Georgia Self Insurers Guaranty Trust Fund?
Georgia Self Insurers Guaranty Trust Fund's revenue in 2023 was $1,733,345.
Official website here: www.gaguaranty.com
Who are the executives of Georgia Self Insurers Guaranty Trust Fund and what are their salaries?
Here are 8 key members and their salaries:
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Official website here: www.gaguaranty.com
Where can I find the form 990 for Georgia Self Insurers Guaranty Trust Fund?
Georgia Self Insurers Guaranty Trust Fund's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.gaguaranty.com
Learn more at the official website: www.gaguaranty.com
Mission Statement of Georgia Self Insurers Guaranty Trust Fund
Georgia Self Insurers Guaranty Trust Fund is a crucial entity that assumes the workers' compensation claims of self-insured employers in the event of their insolvency. This nonprofit organization serves as a safety net, ensuring that employees of financially struggling self-insured companies continue to receive their rightful compensation benefits. In 2022, the Fund paid workers' compensation claims for employees of twenty-five member companies, demonstrating its active role in protecting employees' financial well-being.
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Impact
October, 2024
The Georgia Self Insurers Guaranty Trust Fund plays a pivotal role in maintaining stability within the workers' compensation system. By assuming the claims of self-insured employers that become insolvent, the Fund ensures that employees do not suffer losses in their compensation benefits. In 2022, it successfully paid workers' compensation claims for the employees of twenty-five members, thereby safeguarding their rights and financial security during challenging times. This initiative not only protects workers but also fosters a more reliable environment for businesses that choose self-insurance as a risk management strategy. The Fund ultimately contributes to community improvement by enhancing trust in the workers' compensation system and supporting the well-being of the workforce in Georgia.
This information is meant to be a general summary of Georgia Self Insurers Guaranty Trust Fund. 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 2023.
- Investment Income: $441,553
- Program Service Revenue: $1,164,121
- Gross Receipts: $41,402,927
Assets and Liabilities:
- Total Assets: $26,442,628
- Total Liabilities: $13,889,622
- Net Assets: $12,553,006
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP DUES
Revenue
$1,163,621
MEMBERSHIP APPLICATION FEES
Revenue
$500
Organization Details
Founding Year
1994
Principal Officer
Matt Ninninga
Website
www.gaguaranty.comNTEE Category
Code: S40 - Community improvement
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