Mississippi Workers Compensation Self Insurers Guaranty Association
- Assets
- $2.0m
- Revenue
- $80.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Jackson, MS
- Founding
- 09/2000
- Data as of
- 12/2019
- EIN
- 58-1914219
Organization Overview
Mississippi Workers Compensation Self Insurers Guaranty Association, operating under the name Self-Insurer Guaranty Associat, is located in Jackson, MS. The organization was established in 2000. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Self-Insurer Guaranty Associat is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2019, Self-Insurer Guaranty Associat generated $80.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (42.1%) each year. All expenses for the organization totaled $222.5k during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE A MECHANISM FOR THE PAYMENT OF COVERED CLAIMS UNDER THE WORKERS COMPENSATION LAW, AVOID EXCESSIVE DELAY IN PAYMENT AND TO AVOID FINANCIAL LOSS TO CLAIMANTS BECAUSE OF THE INSOLVENCY OF A SELF-INSURER, TO ASSIST IN PREVENTION OF S/I INSOLVENCIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PAY CLAIMS UNDER THE WORKERS COMPENSATION LAW,AVOID EXCESSIVE DELAY AND TO AVOID FINANCIAL LOSSTO CLAIMENTS DUE TO INSOLVENCY OF A SELF-INSURER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James W Snider Executive Director | Officer | 40 | $85,312 |
Janet Staples Vice Chairman | Officer | 3 | $0 |
Steven Gray Chairman | Officer | 5 | $0 |
Brian Tennant Secretary Treasurer | Officer | 3 | $0 |
Jerry Farr Director | Trustee | 1 | $0 |
Carol Blackwell Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $50,126 |
| Investment income | $28,661 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,679 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $80,466 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $85,312 |
| Compensation of current officers, directors, key employees. | $85,312 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,528 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $33,462 |
| Fees for services: Accounting | $15,180 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,067 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,221 |
| All other expenses | $1,784 |
| Total functional expenses | $222,491 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $662,732 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,262,937 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $33,195 |
| Total assets | $1,958,864 |
| Accounts payable and accrued expenses | $5,647 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,291,055 |
| Total liabilities | $3,296,702 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | -$1,337,838 |
| Total liabilities and net assets/fund balances | $1,958,864 |
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