Overview
What is Montefiore Medicine Academic Health System Self Insurance Trust?
Montefiore Medicine Academic Health System Self Insurance Trust is a nonprofit organization established by Montefiore Medicine Academic Health System (MMAHS) to manage and cover medical malpractice liabilities for the integrated healthcare delivery system and its controlled entities. The trust, organized under Section 501(c)(3), operates for the sole benefit of MMAHS and its controlled organizations. Its primary purpose is to handle the settlement of claims and compensate for any losses related to medical malpractice. The trust's mission is essential to shielding MMAHS and its controlled entities from potential financial risks, allowing them to continue their charitable operations effectively.
Official website here: www.montefiorehealthsystem.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 37% (Zero-Star out of Four Star rating)
Montefiore Medicine Academic Health System Self Insurance Trust has received a low score of 37% from Charity Navigator, resulting in a Zero-Star rating. This rating is significant as it reflects serious concerns regarding the organization's accountability and financial practices. The evaluation primarily focuses on a single beacon score, indicating a lack of transparency and governance oversight.
The organization has been criticized for having no independent board members, highlighting a potential conflict of interest and lack of diverse perspectives in decision-making. Additionally, it has not provided financial statements, which raises concerns about the availability of critical financial information for stakeholders. Other missing policies, such as conflict of interest and whistleblower policies, further contribute to the organization's poor rating.
On a positive note, the organization has a program expense ratio of 100%, indicating that all its expenses are directed towards its mission-related activities. However, the high liabilities to assets ratio of 104.14% suggests financial distress. Overall, the significant gaps in governance and accountability overshadow the organization's operational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Montefiore Medicine Academic Health System Self Insurance Trust legitimate?
Montefiore Medicine Academic Health System Self Insurance Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Montefiore Medicine Academic Health System Self 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: $6,888
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.montefiorehealthsystem.org
What is the mission statement of Montefiore Medicine Academic Health System Self Insurance Trust?
The Montefiore Medicine Academic Health System Self Insurance Trust functions as a supporting organization, established for the advantage of Montefiore Medicine Academic Health System (MMAHS) and its controlled entities. Its primary objective is to handle the liabilities and compensate losses connected to charitable operations of MMAHS and its controlled entities, specifically regarding medical malpractice claims. The trust was formed by MMAHS, a non-profit healthcare system, to shield itself and its entities from medical malpractice liabilities. Ultimately, the trust exists to discharge the liabilities of settled claims and reimburse losses for MMAHS and its controlled entities.
Official website here: www.montefiorehealthsystem.org
Who is the CEO of Montefiore Medicine Academic Health System Self Insurance Trust?
Colleen M Blye is the Sole Corporate Trustee of Montefiore Medicine Academic Health System Self Insurance Trust.
Official website here: www.montefiorehealthsystem.org
What is the revenue of Montefiore Medicine Academic Health System Self Insurance Trust?
Montefiore Medicine Academic Health System Self Insurance Trust's revenue in 2022 was $74,840,098.
Official website here: www.montefiorehealthsystem.org
Who are the executives of Montefiore Medicine Academic Health System Self Insurance Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $6,888
- Related: $0
- Other: $0
Official website here: www.montefiorehealthsystem.org
Where can I find the form 990 for Montefiore Medicine Academic Health System Self Insurance Trust?
Montefiore Medicine Academic Health System Self Insurance Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.montefiorehealthsystem.org
Learn more at the official website: www.montefiorehealthsystem.org
Mission Statement of Montefiore Medicine Academic Health System Self Insurance Trust
Montefiore Medicine Academic Health System Self Insurance Trust is a charitable organization established to support Montefiore Medicine Academic Health System (MMAHS) and its affiliated entities. Its primary objective is to manage and cover the liabilities and losses arising from medical malpractice claims against MMAHS and its controlled entities. By doing so, the Trust protects these organizations and the individuals associated with them from potential financial burdens.
In essence, Montefiore Medicine Academic Health System Self Insurance Trust serves as a financial safety net, ensuring the sustainability of MMAHS and its controlled entities as they carry out their charitable operations. This includes the delivery of healthcare services, research, and education. By assuming the financial risk of medical malpractice liabilities, the Trust enables these organizations to focus on their core mission, ultimately benefiting the communities they serve.
Additionally, the Trust's purpose extends to the reimbursement of losses suffered by MMAHS and its controlled entities. This financial support plays a crucial role in minimizing the impact of unexpected losses on these organizations, allowing them to continue their valuable work in the healthcare sector. The Trust's commitment to providing financial stability is an essential aspect of its mission to ensure the long-term success of Montefiore Medicine Academic Health System and its affiliates.
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Impact
October, 2024
Montefiore Medicine Academic Health System Self Insurance Trust plays a crucial role in safeguarding the financial integrity of Montefiore Medicine Academic Health System (MMAHS) and its affiliated entities. By providing for the discharge of liabilities related to medical malpractice claims and reimbursing losses incurred, the trust ensures that MMAHS can focus on delivering quality healthcare without the burden of potential financial setbacks from litigation.
This trust is specifically designed to address the unique risks associated with healthcare delivery, protecting the interests of both the organization and its covered personnel. Its foundational purpose supports the broader mission of MMAHS, allowing healthcare providers to operate with greater peace of mind, knowing they are shielded against significant financial liabilities. Consequently, this structure fosters a more stable environment in which healthcare services can thrive, ultimately benefiting patients and the community at large by promoting confidence in the healthcare system.
This information is meant to be a general summary of Montefiore Medicine Academic Health System Self 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 2022.
- Program Service Revenue: $74,840,098
- Gross Receipts: $74,840,098
Assets and Liabilities:
- Total Assets: $326,684,703
- Total Liabilities: $340,218,080
- Net Assets: -$13,533,377
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INSURANCE PREMIUMS
Revenue
$74,840,098
Organization Details
Founding Year
2018
Phone
(914) 349-8455Principal Officer
Colleen M Blye
Main Address
111 EAST 210TH STREET, BRONX, NY, 104672401
NTEE Category
Code: E11 - Health
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