Overview
What is Tcig Inc?
Tcig Inc, established in Burlington, Vermont, serves a unique role as an onshore captive insurance company. Its primary objective is to support The Carmelite System, a not-for-profit health system committed to upholding Catholic long-term health ministry values. Tcig Inc insures various types of risks that would otherwise be self-insured by the System or its affiliates, which include skilled nursing, assisted living, and independent living facilities in several states. By doing so, Tcig Inc assists the System in managing its financial and risk-related activities, thereby strengthening its overall operations. The company's mission aligns with the System's mission, ensuring a harmonious and supportive relationship between the two organizations.
Is Tcig Inc legitimate?
Tcig Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tcig 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Tcig Inc?
TCIG Inc, as an onshore captive insurance company, was established with the primary purpose of insuring and reinsuring various risks associated with The Carmelite System. This organization supports the System in managing its financial and risk-related activities, ensuring the coverage of risks that would otherwise be self-insured by the System or its affiliates. The Carmelite System is a not-for-profit health system committed to upholding and strengthening the Catholic long-term health ministry, following the mission, values, and philosophy of the Carmelite Sisters. Currently, there are 17 affiliates under the System, operating skilled nursing, assisted living, and independent living facilities across several states.
Who is the CEO of Tcig Inc?
Unavailable
What is the revenue of Tcig Inc?
Tcig Inc's revenue in 2022 was $1,148,655.
Who are the executives of Tcig Inc and what are their salaries?
There 2 volunteers at Tcig Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $197,863
- Other: $25,207
- Compensation: $0
- Related: $710,781
- Other: $25,066
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Tcig Inc?
Tcig Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Tcig Inc
TCIG Inc, as a captive insurance company, was established with a mission to safeguard the risks associated with The Carmelite System. The organization's primary role is to insure and reinsure various types of risks, effectively taking over the self-insurance responsibility of The Carmelite System and its affiliates. TCIG Inc's mission aligns with the system's commitment to strengthening the Catholic long-term health ministry, respecting and upholding the mission, philosophy, and values of the Carmelite Sisters. With 17 affiliates operating skilled nursing, assisted living, and independent living facilities in multiple states, TCIG Inc plays a crucial role in supporting the System's financial and risk management activities, thereby enabling the Carmelite System to continue its mission of providing health services with a Catholic focus.
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Impact
October, 2024
Tcig Inc plays a crucial role in managing the financial and risk management needs of The Carmelite System, which comprises various health facilities across multiple states. By providing insurance and reinsurance for various types of risks, Tcig Inc ensures that the 17 affiliates of the system can operate effectively and with reduced financial uncertainty. This support not only safeguards the health system’s operational integrity but also allows the affiliates—skilled nursing, assisted living, and independent living facilities—to focus on delivering compassionate care aligned with the mission and values of the Carmelite Sisters.
In addition to its primary function of risk management, Tcig Inc enables The Carmelite System to maintain its commitment to serving communities with high-quality health services. The organization’s role in insuring otherwise self-insured risks allows the system to allocate resources more efficiently, ultimately enhancing the overall sustainability of their health ministry. By mitigating risks and providing financial stability, Tcig Inc directly contributes to the longevity and vitality of the Catholic long-term health ministry, ensuring that it continues to thrive for those it serves.
This information is meant to be a general summary of Tcig 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.
- Program Service Revenue: $1,148,655
- Gross Receipts: $1,148,655
Assets and Liabilities:
- Total Assets: $2,958,345
- Total Liabilities: $1,474,581
- Net Assets: $1,483,764
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Premium Revenue
Revenue
$1,148,655
Organization Details
Founding Year
2021
Phone
(802) 393-3401Main Address
159 Bank Street Fourth Floor, Burlington, VT, 05401
NTEE Category
Code: E11 - Health
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