Overview
What is South Carolina Medical Association Members' Insurance Trust?
The South Carolina Medical Association Members' Insurance Trust is a nonprofit organization established under IRC section 501(c)(9) to offer medical, dental, accidental death/dismemberment, long-term disability, special accident, and life benefits to members of the medical profession and their full-time employees. Based in Columbia, South Carolina (PO Box 11188), the trust aims to provide essential health and insurance coverage to professionals within the medical field, ensuring their wellbeing and peace of mind.
Is South Carolina Medical Association Members' Insurance Trust legitimate?
South Carolina Medical Association Members' Insurance Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. South Carolina Medical Association Members' 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
What is the mission statement of South Carolina Medical Association Members' Insurance Trust?
The South Carolina Medical Association Members' Insurance Trust is dedicated to offering medical and dental benefits, as well as life insurance coverage, to members of the medical profession and their full-time employees. Through a Voluntary Employees' Benefit Association (VEBA) established under IRC section 501(c)(9), the Trust provides accidental death/dismemberment, long-term disability, special accident, and life benefits. Their mission is to ensure the well-being of medical professionals by addressing their insurance needs.
Who is the CEO of South Carolina Medical Association Members' Insurance Trust?
M Bolin And D Sitterle is the Principal Officer of South Carolina Medical Association Members' Insurance Trust. The CEO's salary of South Carolina Medical Association Members' Insurance Trust is $0 and their total compensation is $293,613.
What is the revenue of South Carolina Medical Association Members' Insurance Trust?
South Carolina Medical Association Members' Insurance Trust's revenue in 2022 was $29,085,358.
Who are the executives of South Carolina Medical Association Members' Insurance Trust and what are their salaries?
There 4 volunteers at South Carolina Medical Association Members' Insurance Trust.
Here are 8 key members and their salaries (South Carolina Medical Association Members' Insurance Trust's CEO's salary is $0 and their total compensation is $293,613):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $286,271
- Other: $36,188
- Compensation: $0
- Related: $258,198
- Other: $35,415
- Compensation: $0
- Related: $119,413
- Other: $27,407
Where can I find the form 990 for South Carolina Medical Association Members' Insurance Trust?
South Carolina Medical Association Members' Insurance Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of South Carolina Medical Association Members' Insurance Trust
The South Carolina Medical Association Members' Insurance Trust, often referred to as SCMA, is a nonprofit organization established to provide comprehensive health and life insurance benefits for members of the medical profession and their full-time employees. With a mission to support the healthcare community, SCMA has created a Voluntary Employees' Benefit Association (VEBA) under IRC section 501(c)(9).
In simple terms, SCMA offers medical, dental, accidental death/dismemberment, long-term disability, special accident, and life benefits to its members. The Trust's primary goal is to ensure that medical professionals in South Carolina have access to essential insurance coverage, enabling them to focus on their careers and the well-being of their patients. By providing these benefits, SCMA plays a vital role in the overall health and financial security of the medical community in the region.
SCMA's establishment of a VEBA demonstrates its commitment to delivering valuable resources and assistance to its members. This unique structure not only enables the organization to offer a wide range of insurance benefits but also ensures that these offerings remain competitive and tailored to the needs of medical professionals. Thus, SCMA continues to be a trusted partner for healthcare professionals in South Carolina, empowering them to maintain their well-being and focus on their critical roles within the healthcare system.
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Impact
October, 2024
The South Carolina Medical Association Members' Insurance Trust significantly impacts the health and financial well-being of its members in the medical profession. By providing a range of health and life insurance benefits, it helps to ensure that physicians and their full-time employees have access to essential medical, dental, and life coverage.
The establishment of a Voluntary Employees' Beneficiary Association (VEBA) under IRC Section 501(c)(9) allows for comprehensive benefits including medical, dental, accidental death and dismemberment, long-term disability, special accident, and life insurance coverage. This structure not only aids in managing healthcare costs but also enhances the overall stability and security of medical professionals and their staff.
Operating out of Columbia, South Carolina, the Trust plays a critical role in supporting those who serve the community through healthcare, allowing them to focus on their practice without the burdens of high insurance costs. By prioritizing mutual benefits, the Trust fosters a supportive environment for both physicians and their employees, ultimately contributing to a healthier community.
This information is meant to be a general summary of South Carolina Medical Association Members' 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.
- Investment Income: $10,223
- Program Service Revenue: $29,063,830
- Gross Receipts: $29,085,358
Assets and Liabilities:
- Total Assets: $28,758,819
- Total Liabilities: $5,241,132
- Net Assets: $23,517,687
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBER CONTRIBUTIONS
Revenue
$29,063,830
Organization Details
Founding Year
1981
Phone
(803) 798-6209Principal Officer
M Bolin And D Sitterle
Main Address
PO BOX 11188, COLUMBIA, SC, 29211
NTEE Category
Code: Y43 - Mutual benefit
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