Independent Schools Health Insurance Consortium
- Assets
- $0.0
- Revenue
- $6.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 06/2016
- Data as of
- 12/2021
- EIN
- 61-1749414
Organization Overview
Independent Schools Health Insurance Consortium is located in Pittsburgh, PA. The organization was established in 2016. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Independent Schools Health Insurance Consortium is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, Independent Schools Health Insurance Consortium generated $6.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (63.8%) each year. All expenses for the organization totaled $73.0k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CONSORTIUM WAS CREATED FOR THE PURPOSE OF PROVIDING HEALTH AND WELFARE BENEFITS, INCLUDING MEDICAL, PRESCRIPTION, DENTAL AND VISION BENEFITS, TO PARTICIPATING ENTITIES AND MAINTAINING AN EFFECTIVE EMPLOYEE BENEFIT DELIVERY STRUCTURE FOR MEMBERS, COMBINING RESOURCES TO REDUCE COST, TO MAINTAIN AND IMPROVE THE QUALITY OF COVERAGE AVAILABLE AND SHARING INFORMATION FOR THE COMMON GOOD OF THE PARTICIPATING ENTITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CONSORTIUM OPERATES AS A VOLUNTARY EMPLOYEE'S BENEFICIARY ASSOCIATION (VEBA). THE CONSORTIUM FUNCTIONS AS A GROUP INSURANCE ARRANGEMENT THROUGH WHICH UNRELATED PARTICIPATING ENTITIES PURCHASE BENEFITS THAT THEY MAKE AVAILABLE TO ELIGIBLE INDIVIDUALS. THE CONSORTIUM HOLDS THE POLICIES UNDER WHICH BENEFITS ARE ADMINISTERED AND PAID, AND SERVES AS THE CONDUIT FOR THE PAYMENT OF PREMIUMS TO THE INSURER. CERTAIN PLAN ASSETS ARE HELD IN A VEBA TRUST. THE PLAN IS SUBJECT TO THE PROVISIONS OF THE EMPLOYEE RETIREMENT SECURITY ACT OF 1974 AS AMENDED (ERISA). SUBSTANTIALLY ALL OF THE HEALTH CARE COVERAGES ARE SELF-INSURED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Diana Mcallister Trustee (exit 09/21) | Trustee | 1 | $0 |
Karen Mcavoy Trustee (exit 08/21) | Trustee | 1 | $0 |
J Gregory Forsythe - Chairman Trustee (exit 08/21) | Trustee | 2.5 | $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 | $0 |
| Investment income | $6 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,162 |
| 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 | $30,500 |
| 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 | $0 |
| Fees for services: Legal | $1,540 |
| Fees for services: Accounting | $24,925 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,408 |
| Fees for services: Other | $2,200 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $113 |
| All other expenses | $11,350 |
| Total functional expenses | $73,036 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $0 |