Overview
What is Texas Automobile Insurance Plan Association?
The Texas Automobile Insurance Plan Association, located in Austin, Texas, serves as a nonprofit organization dedicated to equitably distributing automobile insurance applications among authorized insurance companies operating within the state. All motor vehicle liability policy-writing insurers in Texas are required to be members of the association and participate in sharing the associated insurance risks and expenses. The primary objective of this organization is to provide a means for individuals required to demonstrate financial responsibility to procure automobile liability coverage, adhering to the rules set by the association. The Texas Motor Vehicle Safety Responsibility Act mandates the availability of bodily injury and property damage liability insurance, ensuring eligible applicants can secure coverage within the association's guidelines. The association is staffed by a small team of four employees.
Official website here: www.taipa.org
Is Texas Automobile Insurance Plan Association legitimate?
Texas Automobile Insurance Plan Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. Texas Automobile Insurance Plan 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: $178,909
Professional Fundraising Fees: $0
Other Salaries and Wages: $178,940
For more financial information, click here
Official website here: www.taipa.org
What is the mission statement of Texas Automobile Insurance Plan Association?
The Texas Automobile Insurance Plan Association's mission is centered around providing a means for individuals who are required to demonstrate financial responsibility to obtain automobile liability insurance coverage. According to its mission statement, the association aims to make automobile bodily injury and property damage liability insurance, as mandated by the Texas Motor Vehicle Safety Responsibility Act, accessible to eligible applicants, subject to the association's rules. To accomplish this, the organization has established fair procedures for distributing insurance applications among authorized insurance companies in Texas. All motor vehicle liability insurance providers operating in the state are required to become members of the association and participate in sharing the insurance risks associated with the organization, as well as contributing to the organization's expenses.
Official website here: www.taipa.org
Who is the CEO of Texas Automobile Insurance Plan Association?
Becky Jackson is the Public Member of Texas Automobile Insurance Plan Association.
Official website here: www.taipa.org
What is the revenue of Texas Automobile Insurance Plan Association?
Texas Automobile Insurance Plan Association's revenue in 2022 was $756,643.
Official website here: www.taipa.org
Who are the executives of Texas Automobile Insurance Plan Association and what are their salaries?
The average compensation at Texas Automobile Insurance Plan Association during 2022 was $89,462. There are 4 employees and 9 volunteers at Texas Automobile Insurance Plan Association.
Here are 19 key members and their salaries:
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $750
- Related: $0
- Other: $0
- Compensation: $1,000
- Related: $0
- Other: $0
- Compensation: $2,250
- Related: $0
- Other: $0
- Compensation: $250
- Related: $0
- Other: $0
- Compensation: $750
- Related: $0
- Other: $0
- Compensation: $750
- Related: $0
- Other: $0
- Compensation: $1,500
- Related: $0
- Other: $0
- Compensation: $1,500
- 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: $146,408
- Related: $0
- Other: $21,751
Official website here: www.taipa.org
Where can I find the form 990 for Texas Automobile Insurance Plan Association?
Texas Automobile Insurance Plan Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.taipa.org
Learn more at the official website: www.taipa.org
Mission Statement of Texas Automobile Insurance Plan Association
The Texas Automobile Insurance Plan Association is an organization with a mission to provide a means for individuals who are legally required to demonstrate financial responsibility to obtain automobile liability insurance coverage. The Association achieves this objective by making automobile bodily injury and property damage liability insurance, as mandated by the Texas Motor Vehicle Safety Responsibility Act, accessible to eligible applicants. To ensure fairness and equity, the Association has established procedures for the distribution of insurance applications, which are then assigned to participating insurance companies.
All authorized motor vehicle liability insurance providers operating in the state of Texas are required to be members of the Association and participate in the allocation of insurance risks associated with the organization. These insurance companies are also obligated to contribute their share of the expenses incurred by the Association. In essence, the Texas Automobile Insurance Plan Association serves as a platform, facilitating the acquisition of mandatory automobile liability insurance for individuals who would otherwise struggle to obtain it, thus promoting road safety and financial responsibility.
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Impact
October, 2024
The Texas Automobile Insurance Plan Association (TAIPA) plays a crucial role in ensuring access to automobile insurance for individuals who may otherwise struggle to obtain coverage. By establishing a systematic approach for the equitable distribution of insurance applications, TAIPA enables eligible applicants to secure liability coverage required by the Texas Motor Vehicle Safety Responsibility Act.
All insurance companies authorized to write motor vehicle liability policies in Texas are mandated to participate in TAIPA. This collective participation ensures that risks are fairly distributed across the member companies, promoting a more stable insurance market. As a result, TAIPA not only helps individuals meet legal requirements but also supports community safety by encouraging responsible vehicle ownership.
Through its operations, TAIPA directly impacts individuals seeking financial responsibility proof by providing them with the means to obtain necessary automobile liability insurance. This access ultimately contributes to community improvement and enhances the overall safety and welfare of Texas roadways.
This information is meant to be a general summary of Texas Automobile Insurance Plan 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: $4,032
- Gross Receipts: $756,643
Assets and Liabilities:
- Total Assets: $773,553
- Total Liabilities: $371,418
- Net Assets: $402,135
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Organization Details
Founding Year
1993
Phone
(512) 444-4441Principal Officer
Becky Jackson
Main Address
805 LAS CIMAS PARKWAY 210, AUSTIN, TX, 78746
Website
www.taipa.orgNTEE Category
Code: S40 - Community improvement
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