Overview
What is Kentucky Association Of Manufacturers Group Insurance Trust?
The Kentucky Association of Manufacturers Group Insurance Trust, abbreviated as KAM, is a nonprofit entity based in Frankfort, Kentucky. Since September 1, 2021, KAM has been providing group health insurance and various welfare benefits to its members, employees, and eligible dependents. This undertaking is overseen by an elected board of trustees, who are responsible for administering the trust and making decisions regarding its ongoing operations in the best interest of the participants. The trust's activities include selecting insurance carriers, benefit plans, and levels; appointing vendors such as banking services, contract administrators, and investment managers; marketing the program; and managing its funds and assets. The primary purpose of the Kentucky Association of Manufacturers Group Insurance Trust is to offer comprehensive group health insurance and other benefits to its affiliated members and their dependents.
Official website here: www.kam.us.com/member-benefits/
Is Kentucky Association Of Manufacturers Group Insurance Trust legitimate?
Kentucky Association Of Manufacturers Group Insurance Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Kentucky Association Of Manufacturers 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.kam.us.com/member-benefits/
What is the mission statement of Kentucky Association Of Manufacturers Group Insurance Trust?
The Kentucky Association of Manufacturers Group Insurance Trust's mission is centered around providing group health insurance and other welfare benefits. Specifically, the organization aims to offer these benefits to the members and employees of the Kentucky Association of Manufacturers (KAM), as well as qualifying dependents of KAM. This is accomplished by issuing one or more fully insured insurance policies. The trust is overseen by an elected board of trustees who administer the trust and make decisions regarding its operations in the best interest of the participants. The activities of the trust include selecting insurance carriers, benefit plans, and benefit levels; selecting and appointing vendors such as banking services, contract administrators, and auditors; and managing trust funds and assets.
Official website here: www.kam.us.com/member-benefits/
Who is the CEO of Kentucky Association Of Manufacturers Group Insurance Trust?
Shelley Goodwin is the Trustee of Kentucky Association Of Manufacturers Group Insurance Trust.
Official website here: www.kam.us.com/member-benefits/
What is the revenue of Kentucky Association Of Manufacturers Group Insurance Trust?
Kentucky Association Of Manufacturers Group Insurance Trust's revenue in 2023 was $9,690,106.
Official website here: www.kam.us.com/member-benefits/
Who are the executives of Kentucky Association Of Manufacturers Group Insurance Trust and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $120,000
- Other: $19,877
- Compensation: $0
- Related: $74,528
- Other: $1,710
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.kam.us.com/member-benefits/
Where can I find the form 990 for Kentucky Association Of Manufacturers Group Insurance Trust?
Kentucky Association Of Manufacturers Group Insurance Trust's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.kam.us.com/member-benefits/
Learn more at the official website: www.kam.us.com/member-benefits/
Mission Statement of Kentucky Association Of Manufacturers Group Insurance Trust
The Kentucky Association of Manufacturers Group Insurance Trust, abbreviated as KAM Trust, is committed to providing group health insurance and other welfare benefits to the members and employees of the Kentucky Association of Manufacturers (KAM), along with qualifying dependents. This nonprofit organization serves this purpose by issuing one or more fully insured insurance policies. The management of this trust is overseen by an elected board of trustees, who are responsible for making decisions regarding the ongoing operations of the trust in the best interest of the participants.
The KAM Trust engages in various activities to ensure the successful administration of its group insurance and welfare benefits program. These activities include the selection of insurance carriers, benefit plans, and benefit levels in certain situations. Additionally, the trust appoints various vendors, such as banking services, contract administrators, investment managers (if necessary), auditors, and attorneys. Furthermore, the trust is involved in sales and marketing activities, including the development of communication materials and the use of outside sales agents if necessary. Lastly, the trust manages its funds and assets effectively, ensuring the financial stability and success of its group insurance and welfare benefits program.
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Impact
October, 2024
The Kentucky Association of Manufacturers Group Insurance Trust (KAM GIT) delivers significant benefits to its members and their employees by providing access to group health insurance and various welfare benefits. Established in 2021, the Trust allows participating manufacturers in Kentucky to offer affordable health coverage to their workers and qualifying dependents, which helps improve overall job satisfaction and employee retention.
By overseeing a carefully structured program managed by an elected board of trustees, KAM GIT ensures that participants receive comprehensive benefits. This includes selecting insurance carriers, benefit plans, and vendors needed for efficient program administration. The Trust not only manages the funds and assets effectively but also engages in marketing efforts to promote the program, thus enhancing awareness and participation among manufacturers.
Overall, KAM GIT plays a critical role in supporting the health and welfare of Kentucky’s manufacturing workforce, facilitating access to essential health services, and fostering a more stable and productive workforce that benefits the entire state’s economy.
This information is meant to be a general summary of Kentucky Association Of Manufacturers 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: $9,690,106
- Gross Receipts: $9,690,106
Assets and Liabilities:
- Total Assets: $757,342
- Total Liabilities: $660,464
- Net Assets: $96,878
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$9,635,342
COBRA CONTRIBUTIONS
Revenue
$54,764
Organization Details
Founding Year
2021
Phone
(502) 352-2485Principal Officer
Shelley Goodwin
Main Address
P O BOX 4029, FRANKFORT, KY, 406044029
NTEE Category
Code: Y40 - Mutual benefit
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