Overview
What is Independent Agents And Brokers Of South Carolina Inc Group Insurance Trust?
Independent Agents and Brokers of South Carolina Inc Group Insurance Trust is a nonprofit organization dedicated to providing group health insurance and various welfare benefits to the employees of its member companies. This trust, overseen by an elected board of trustees in collaboration with the Independent Insurance Agents & Brokers of South Carolina, Inc., is responsible for selecting insurance carriers, benefit plans, and levels in certain situations. Additionally, the trust appoints vendors, such as banking services and investment managers, and manages the sales and marketing of the program. The trust's primary objective is to offer group health insurance and other benefits to its member employers' employees, achieving this through the issuance of one or more fully insured insurance policies.
Official website here: www.iiabsc.org
Is Independent Agents And Brokers Of South Carolina Inc Group Insurance Trust legitimate?
Independent Agents And Brokers Of South Carolina Inc Group Insurance Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Independent Agents And Brokers Of South Carolina Inc Group Insurance Trust 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.iiabsc.org
What is the mission statement of Independent Agents And Brokers Of South Carolina Inc Group Insurance Trust?
The Independent Agents and Brokers of South Carolina Inc Group Insurance Trust was established with a mission to provide group health insurance and other welfare benefits to the employees of the Independent Insurance Agents & Brokers of South Carolina, Inc. member employers. This is accomplished by issuing one or more fully insured insurance policies. The trust is overseen by an elected board of trustees who collaborate with the IIABSC to administer the trust and make decisions regarding its operations in the best interest of the participants. The trust's activities include selecting insurance carriers, benefit plans, and benefit levels in certain situations; selecting and appointing vendors such as banking services, contract administrators, investment managers, auditors, and attorneys; and managing trust funds and assets. The sales and marketing of the program also fall under the trust's activities, which may involve developing communication materials and utilizing outside sales agents if necessary.
Official website here: www.iiabsc.org
Who is the CEO of Independent Agents And Brokers Of South Carolina Inc Group Insurance Trust?
Frank Sheppard is the President And Trustee of Independent Agents And Brokers Of South Carolina Inc Group Insurance Trust.
Official website here: www.iiabsc.org
What is the revenue of Independent Agents And Brokers Of South Carolina Inc Group Insurance Trust?
Independent Agents And Brokers Of South Carolina Inc Group Insurance Trust's revenue in 2023 was $1,666,768.
Official website here: www.iiabsc.org
Who are the executives of Independent Agents And Brokers Of South Carolina Inc Group Insurance Trust and what are their salaries?
There 3 volunteers at Independent Agents And Brokers Of South Carolina Inc Group Insurance Trust.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $120,344
- Other: $11,740
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.iiabsc.org
Where can I find the form 990 for Independent Agents And Brokers Of South Carolina Inc Group Insurance Trust?
Independent Agents And Brokers Of South Carolina Inc Group Insurance Trust's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.iiabsc.org
Learn more at the official website: www.iiabsc.org
Mission Statement of Independent Agents And Brokers Of South Carolina Inc Group Insurance Trust
Independent Agents and Brokers of South Carolina Inc Group Insurance Trust, hereafter referred to as the Trust, is dedicated to providing group health insurance and other welfare benefits to the employees of the Independent Insurance Agents & Brokers of South Carolina, Inc. member employers. This is achieved by issuing one or more fully insured insurance policies starting from February 1, 2017. The Trust's operations are overseen by an elected board of trustees who are responsible for making decisions regarding the program's ongoing operations in the best interest of the participants.
The Trust's activities include the selection of insurance carriers, benefit plans, and benefit levels in certain situations. They also appoint various vendors such as banking services, contract administrators, investment managers (if necessary), auditors, and attorneys. The Trust is also responsible for sales and marketing efforts, including the development of communication materials and the use of outside sales agents if required. Lastly, the Trust manages the trust funds and assets in a general manner. In doing so, the Trust aims to provide comprehensive group health insurance and welfare benefits to the employees of the Independent Insurance Agents & Brokers of South Carolina, Inc. member employers.
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Impact
October, 2024
Independent Agents And Brokers Of South Carolina Inc Group Insurance Trust has significantly impacted the financial security and well-being of employees associated with its member employers. Since its inception on February 1, 2017, the Trust has provided essential group health insurance and various welfare benefits, ensuring that employees have access to necessary medical services and support.
By offering fully insured insurance policies, the Trust allows for risk pooling, which can lead to more affordable premiums and better coverage options compared to individual plans. This collective approach not only enhances the health and financial stability of employees but also contributes to improved workplace morale and productivity.
The Trust's governance by an elected board of trustees ensures that decisions are made in the best interest of all participants, fostering a sense of ownership and responsibility. Activities like selecting insurance carriers, defining benefit levels, and appointing necessary vendors enable the Trust to adapt to changing needs and market conditions effectively.
Moreover, the Trust actively engages in marketing and communication efforts, helping to raise awareness of the program and its benefits among employees. This outreach is crucial for maximizing enrollment and ensuring that those eligible can take full advantage of the benefits provided.
Overall, the Independent Agents And Brokers Of South Carolina Inc Group Insurance Trust plays a vital role in enhancing the quality of life for employees in the insurance sector, directly contributing to their health, financial security, and overall job satisfaction.
This information is meant to be a general summary of Independent Agents And Brokers Of South Carolina Inc Group Insurance Trust. 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.
- Program Service Revenue: $1,666,768
- Gross Receipts: $1,666,768
Assets and Liabilities:
- Total Assets: $14,212
- Total Liabilities: $13,719
- Net Assets: $493
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$1,662,958
COBRA CONTRIBUTIONS
Revenue
$3,810
Organization Details
Founding Year
2017
Phone
(803) 731-9460Principal Officer
Frank Sheppard
Main Address
800 GRACERN ROAD, COLUMBIA, SC, 292107693
Website
www.iiabsc.orgNTEE Category
Code: Y43 - Mutual benefit
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