Overview
What is Lecom Health Risk Retention Group?
Lecom Health Risk Retention Group is a nonprofit corporation based in Erie, Pennsylvania, with a specific mission to support the charitable purposes of Millcreek Health System and its affiliated entities that fall under Section 501(C)(3) of the U.S. Code. Their primary role involves offering insurance, claims defense, administration, and indemnity services to these entities, along with their employees and service providers, in relation to the risks and activities associated with their exempt activities. This support enables these organizations to continue their charitable work effectively.
Official website here: www.lecomhealth.com
Is Lecom Health Risk Retention Group legitimate?
Lecom Health Risk Retention Group is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lecom Health Risk Retention Group 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.lecomhealth.com
What is the mission statement of Lecom Health Risk Retention Group?
Lecom Health Risk Retention Group's primary mission is to support the charitable objectives of Millcreek Health System and its affiliated 501(c)(3) organizations. This support is provided through offering insurance, claims defense, administration, and indemnity services to these entities, as well as their employees and service providers, in relation to the risks and activities associated with their exempt activities. The corporation's role is crucial in safeguarding these nonprofits and enabling them to carry out their charitable missions effectively.
Official website here: www.lecomhealth.com
Who is the CEO of Lecom Health Risk Retention Group?
John M Ferretti Do is the President of Lecom Health Risk Retention Group.
Official website here: www.lecomhealth.com
What is the revenue of Lecom Health Risk Retention Group?
Lecom Health Risk Retention Group's revenue in 2022 was $4,297,375.
Official website here: www.lecomhealth.com
Who are the executives of Lecom Health Risk Retention Group and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $1,331,567
- Other: $30,818
- Compensation: $0
- Related: $332,130
- Other: $30,376
- Compensation: $0
- Related: $299,054
- Other: $36,966
- Compensation: $0
- Related: $238,280
- Other: $27,916
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.lecomhealth.com
Where can I find the form 990 for Lecom Health Risk Retention Group?
Lecom Health Risk Retention Group's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lecomhealth.com
Learn more at the official website: www.lecomhealth.com
Mission Statement of Lecom Health Risk Retention Group
Lecom Health Risk Retention Group, a corporation with a charitable focus, is primarily dedicated to supporting the philanthropic objectives of Millcreek Health System, a Pennsylvania nonprofit corporation operating under the name Lecom Health (the "Parent"), and each affiliate of the Parent that is exempt from federal income tax and falls under Section 501(c)(3) of the Code (the "Lecom Exempt Affiliates"). Its mission is to provide insurance, claims defense, administration, and indemnity services to these entities, as well as their employees and individuals offering services within the scope of the exempt activities engaged in by the Parent and the Lecom Exempt Affiliates. In essence, Lecom Health Risk Retention Group serves to shield these organizations from potential risks associated with their charitable endeavors.
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Impact
October, 2024
Lecom Health Risk Retention Group has a significant impact on the healthcare landscape by providing essential insurance and claims defense services tailored specifically for Millcreek Health System and its affiliated organizations. Its primary purpose is to support the mission of these entities by mitigating risks associated with healthcare activities and ensuring that healthcare providers, employees, and service providers are adequately protected.
By focusing on the unique risks presented in the healthcare sector, this organization plays a crucial role in enhancing the stability and operational efficiency of its affiliated healthcare systems. This support allows them to concentrate on their core charitable missions without the burden of overwhelming financial risks related to malpractice claims or other liabilities.
Furthermore, Lecom Health Risk Retention Group's activities promote the overall quality of care by fostering a safer environment for both patients and healthcare professionals. The existence of robust insurance and indemnity frameworks contributes to sustained trust in the healthcare services provided, ultimately benefiting the community by securing the operational integrity of vital health services.
In summary, Lecom Health Risk Retention Group significantly bolsters the healthcare ecosystem by aligning risk management with the charitable objectives of its affiliated entities, facilitating improved service delivery and patient care in the region.
This information is meant to be a general summary of Lecom Health Risk Retention Group. 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: $38,012
- Program Service Revenue: $4,259,363
- Gross Receipts: $4,309,920
Assets and Liabilities:
- Total Assets: $7,550,098
- Total Liabilities: $5,301,545
- Net Assets: $2,248,553
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PREMIUMS EARNED
Revenue
$4,259,363
Organization Details
Founding Year
2020
Phone
(814) 860-5101Principal Officer
John M Ferretti Do
Main Address
1858 WEST GRANDVIEW BLVD, ERIE, PA, 16509
Website
www.lecomhealth.comNTEE Category
Code: E11 - Health
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