Overview
What is Florida Self-Insurers Guaranty Association Inc?
Florida Self-Insurers Guaranty Association Inc is a nonprofit organization situated in Tallahassee, Florida. Its primary role is to offer administrative and professional services to support the regulation of 106 current self-insurers and 134 former self-insurers. In addition, they manage and pay for workers' compensation claims in 15 active insolvencies involving 34 claimants. The association's mission is to provide financial resources for the settlement of covered workers' compensation claims for insolvent self-insurers, excluding public utilities and governmental entities. By doing so, they ensure the payment of Florida workers' compensation benefits to the employees of its insolvent members, aiming to minimize the overall cost to its membership. With a small team of 6 employees, Florida Self-Insurers Guaranty Association Inc plays a crucial role in safeguarding the welfare of employees in the event of insolvency within the self-insurer community.
Official website here: www.fsiga.org
Is Florida Self-Insurers Guaranty Association Inc legitimate?
Florida Self-Insurers Guaranty Association Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Florida Self-Insurers Guaranty 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: $333,260
Professional Fundraising Fees: $0
Other Salaries and Wages: $407,372
For more financial information, click here
Official website here: www.fsiga.org
What is the mission statement of Florida Self-Insurers Guaranty Association Inc?
The Florida Self-Insurers Guaranty Association Inc's mission is to ensure the payment of workers' compensation benefits to employees of insolvent self-insurers, thereby protecting its membership from excessive costs. This organization provides administrative and professional services to support the regulation of self-insurers and manages the settlement of workers' compensation claims for insolvent members. In instances of active insolvencies, the association handles claims for around 34 claimants. The primary goal of Florida Self-Insurers Guaranty Association Inc is to guarantee the financial security of its members by minimizing the total cost associated with workers' compensation claims.
Official website here: www.fsiga.org
Who is the CEO of Florida Self-Insurers Guaranty Association Inc?
Brian Gee is the Chairman of Florida Self-Insurers Guaranty Association Inc.
Official website here: www.fsiga.org
What is the revenue of Florida Self-Insurers Guaranty Association Inc?
Florida Self-Insurers Guaranty Association Inc's revenue in 2022 was $2,380,710.
Official website here: www.fsiga.org
Who are the executives of Florida Self-Insurers Guaranty Association Inc and what are their salaries?
The average compensation at Florida Self-Insurers Guaranty Association Inc during 2022 was $123,439. There are 6 employees and 9 volunteers at Florida Self-Insurers Guaranty Association Inc.
Here are 11 key members and their salaries:
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- Compensation: $249,156
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- Other: $84,104
- Compensation: $138,234
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- Other: $26,327
Official website here: www.fsiga.org
Where can I find the form 990 for Florida Self-Insurers Guaranty Association Inc?
Florida Self-Insurers Guaranty Association Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fsiga.org
Learn more at the official website: www.fsiga.org
Mission Statement of Florida Self-Insurers Guaranty Association Inc
Florida Self-Insurers Guaranty Association Inc, as a mission-driven organization, aims to guarantee the payment of Florida workers' compensation benefits to the employees of its insolvent member companies. This ensures financial security for the affected employees during challenging times. The association minimizes the total cost to its membership by providing administrative and professional services to support the regulation of its current and former self-insurers. By doing so, it manages 106 current self-insurers and 134 former self-insurers, and administers and pays workers' compensation claims for 15 active insolvencies involving 34 claimants. In essence, Florida Self-Insurers Guaranty Association Inc serves as a safety net, safeguarding workers' compensation benefits and providing essential support to its member companies during periods of financial instability.
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Impact
October, 2024
The Florida Self-Insurers Guaranty Association, Inc. plays a crucial role in the state's workers' compensation system by providing essential financial support for settling claims from individuals injured under self-insured employers that have become insolvent. By guaranteeing payments for covered workers' compensation claims, the organization ensures that employees continue to receive their entitled benefits even when their employers can no longer meet their financial obligations.
Through its effective administration of claims and oversight for both current and former self-insurers, the Association actively supports the stability of the workers' compensation market in Florida. It manages the intricacies associated with 106 active self-insurers and addresses the claims of 15 insolvent entities with 34 claimants. This not only safeguards the interests of injured workers but also minimizes the total financial burden on the self-insurance community, promoting a fair and sustainable system for all stakeholders involved. By fulfilling its mission, the Association significantly contributes to the overall welfare of Florida's workforce, ensuring that employees have access to necessary compensation and care in times of need.
This information is meant to be a general summary of Florida Self-Insurers Guaranty 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 2022.
- Investment Income: $726,059
- Program Service Revenue: $1,492,707
- Gross Receipts: $2,380,710
Assets and Liabilities:
- Total Assets: $81,215,921
- Total Liabilities: $18,603,277
- Net Assets: $62,612,644
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CLAIM RECOVERIES (NET)
Revenue
$1,285,587
FEES/CONTR. FROM GVMTS
Revenue
$207,120
Organization Details
Founding Year
1982
Phone
(850) 222-1882Principal Officer
Brian Gee
Main Address
1427 E PIEDMONT DRIVE 2ND FLOOR, TALLAHASSEE, FL, 323087943
Website
www.fsiga.orgNTEE Category
Code: Y20 - Mutual benefit
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