South Carolina Medical Association Members' Insurance Trust

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 911839164 ✦ Columbia, SC ✦ Designated as a 501(c)(9)

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 not tax deductible.

Here 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?
Who is the CEO of South Carolina Medical Association Members' Insurance Trust?
What is the revenue of South Carolina Medical Association Members' Insurance Trust?
Who are the executives of South Carolina Medical Association Members' Insurance Trust and what are their salaries?
Where can I find the form 990 for South Carolina Medical Association Members' Insurance Trust?

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.

Impact

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.




Thursday, August 15, 2024

The impact of the South Carolina Medical Association Members' Insurance Trust is significant as it provides health and life insurance benefits to members of the medical profession and their full-time employees. Through the formation of a VEBA under IRC Section 501(c)(9), the Trust offers medical, dental, accidental death/dismemberment, long-term disability, special accident, and life benefits. By fulfilling its mission to provide these essential benefits, the Trust plays a crucial role in supporting the well-being and financial security of medical professionals and their employees in Columbia, SC.





Financials

This financial information is from Propublica.

Revenue
Expenses
Efficiency

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
  • 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

    Principal Officer

    M Bolin And D Sitterle

    Main Address

    PO BOX 11188, COLUMBIA, SC, 29211

    NTEE Category

    Code: Y43 - Mutual benefit

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