Georgia School Boards Association Workers Compensation Fund
- Assets
- $82.5m
- Revenue
- $15.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Lawrenceville, GA
- Founding
- 08/1997
- Data as of
- 06/2022
- EIN
- 58-2016361
Organization Overview
Georgia School Boards Association Workers Compensation Fund is located in Lawrenceville, GA. The organization was established in 1997. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Georgia School Boards Association Workers Compensation Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Georgia School Boards Association Workers Compensation Fund generated $15.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $10.6m during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O FOR COMPLETE DESCRIPTION.THE MISSION OF THE GEORGIA SCHOOL BOARDS ASSOCIATION WORKERS'COMPENSATION FUND IS TO PARTNER WITH LOCAL SCHOOL SYSTEMS TO PROTECTASSETS AND MINIMIZE LOSSES THROUGH SUPERIOR CUSTOMIZED ALTERNATIVES TOTRADITIONAL INSURANCE WHILE MAINTAINING FINANCIAL INTEGRITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOP, IMPLEMENT, AND ADMINISTER A PROGRAM OF WORKERS' COMPENSATION SELF INSURANCE FOR ITS MEMBER ORGANIZATIONS.GSBA WORKERS' COMPENSATION FUND OFFERS PROTECTION THROUGH ITS GROUP-SELF-INSURANCE PLANS FOR WORKERS' COMPENSATION. THE ORGANIZATION PARTNERS WITH GEORGIA PUBLIC SCHOOL SYSTEMS AND GOES FAR BEYOND THE NORMAL SERVICE FROM A COMMERCIAL INSURANCE BROKER. THE STAFF BUILDS RELATIONSHIPS WITH ITS MEMBERS AND PROVIDES TRAINING AND INFORMATION TO ASSIST MEMBERS IN SUCCESSFULLY MANAGING THEIR RISKS.THE GSBA WORKERS' COMPENSATION FUND PROVIDES SCHOOL DISTRICTS AN ALTERNATIVE TO PURCHASING TRADITIONAL INSURANCE. KEEPING EMPLOYEES ON THE JOB, WHETHER IT'S IN THE CLASSROOM, ON THE SCHOOL BUS, OR IN THE CAFETERIA, THROUGH TARGETED LOSS PREVENTION STRATEGIES AND COMPREHENSIVE CLAIMS MANAGEMENT, IS THE KEY TO CONTINUED SUCCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Barnette Chair | OfficerTrustee | 0.5 | $0 |
Robby Pitts Vice Chair | OfficerTrustee | 0.5 | $0 |
Leon Coverson Trustee | Trustee | 0.5 | $0 |
Adam Hathaway Trustee | Trustee | 0.5 | $0 |
Ron Hopkins Trustee | Trustee | 0.5 | $0 |
Paul Brooksher Trustee | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Origami Risk Software | 6/29/22 | $150,850 |
Underwriters Safety & Claims Claims Management | 6/29/22 | $450,458 |
Georgia School Boards Association Management, Member Services, Underwritin | 6/29/22 | $1,421,886 |
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 | $12,423,957 |
| Investment income | $991,294 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,661,181 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,076,432 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $17,730 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $489,696 |
| Fees for services: Legal | $14,000 |
| Fees for services: Accounting | $21,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $194,845 |
| Fees for services: Other | $1,532,541 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $82,725 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $683 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $22,739 |
| All other expenses | $36,714 |
| Total functional expenses | $10,562,480 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $35,003,396 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $119,547 |
| 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 | $9,425 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $45,734,444 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,603,191 |
| Total assets | $82,470,003 |
| Accounts payable and accrued expenses | $1,523,640 |
| Grants payable | $0 |
| Deferred revenue | $18,500 |
| 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 | $25,136,813 |
| Total liabilities | $26,678,953 |
| Net assets without donor restrictions | $55,791,050 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $82,470,003 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fair Fight Action Inc Atlanta, GA | $4,976,834 | $29,928,008 |
South Carolina Connections Academy Inc Columbia, SC | $14,632,201 | $47,709,935 |
South Carolina Learns Greenville, SC | $20,739,195 | $35,702,373 |
South Carolina Virtual Charter School West Columbia, SC | $14,646,057 | $37,851,009 |
Plato Academy Schools Corporation Clearwater, FL | $134,350,424 | $31,890,679 |
Early Learning Coalition Of Northwest Florida Inc Marianna, FL | $3,346,474 | $28,789,946 |
Early Learning Coalition Of Osceola County Inc Kissimmee, FL | $3,012,946 | $27,905,401 |
Faculty Associates Incorporated Gainesville, FL | $18,354,841 | $24,140,038 |
Landmark Christian School Fairburn, GA | $28,586,929 | $25,037,540 |
Georgia Advanced Technology Ventures Inc Atlanta, GA | $206,195,666 | $20,980,407 |
North Raleigh Christian Academy Raleigh, NC | $50,620,236 | $15,888,714 |
Galileo School Foundation Inc Sanford, FL | $34,481,901 | $12,247,750 |