Ohio Hospitals Group Rated Workers Compensation Program Inc
- Assets
- $2.9m
- Revenue
- $191.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Columbus, OH
- Founding
- 08/1992
- Data as of
- 12/2021
- EIN
- 31-1314404
Organization Overview
Ohio Hospitals Group Rated Workers Compensation Program Inc is located in Columbus, OH. The organization was established in 1992. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ohio Hospitals Group Rated Workers Compensation Program Inc 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 12/2021, Ohio Hospitals Group Rated Workers Compensation Program Inc generated $191.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $226.0 during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (59.7%) per year over the past 7 years. 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 PRIMARY PURPOSE OF THE OHIO HOSPITALS GROUP RATED WORKERS COMPENSATION PROGRAM, INC. IS TO DEVELOP AND IMPLEMENT PROGRAMS THAT WILL PROMOTE A SAFE WORKING ENVIRONMENT AND REDUCE HEALTH CARE COSTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE OHIO HOSPITAL ASSOCIATION (OHA) HAS 10 MEMBERS PARTICIPATING IN ONE OF TWO WORKERS' COMPENSATION PROGRAMS ADMINISTERED BY SEDGWICK. OHA-SPONSORED WORKERS' COMPENSATION PROGRAMS INCLUDE A TRADITIONAL GROUP EXPERIENCE RATING PROGRAM AND A GROUP RETROSPECTIVE RATING PROGRAM FOR PRIVATE SECTOR HOSPITAL MEMBERS. OHA CURRENTLY HAS 1 PRIVATE INSTITUTION IN ITS TRADITIONAL GROUP RATING PROGRAM. THROUGH THIS PROGRAM, MEMBER HOSPITALS RECEIVE UP-FRONT DISCOUNTS ON PREMIUM OWED TO THE BUREAU OF WORKERS' COMPENSATION (BWC). THESE PREMIUM SAVINGS ARE JUSTIFIED DUE TO BETTER-THAN-AVERAGE CLAIMS EXPERIENCE. AGGREGATE PREMIUM SAVINGS FOR THIS MEMBER IS $5,139. MEMBERS IN THIS PROGRAM ARE CURRENTLY RECEIVING A 372% RETURN ON INVESTMENT. OHA ALSO HAS 9 PRIVATE SECTOR MEMBERS ENROLLED IN ITS GROUP RETROSPECTIVE RATING PROGRAM. THROUGH THIS TYPE OF GROUP SAVINGS PROGRAM, PARTICIPATING HOSPITALS INITIALLY PAY THEIR FULL INDIVIDUALLY-RATED PREMIUM TO BWC AND THEN EARN RETROACTIVE REBATES BASED ON THE OVERALL PERFORMANCE OF THE GROUP. THE INCENTIVE WITH "GROUP RETRO" PLANS IS TO MAINTAIN AND ENHANCE SAFETY PROGRAMS TO PREVENT OR MINIMIZE WORK-RELATED INJURIES AND AGGRESSIVELY MANAGE THE COST OF CLAIMS THAT DO OCCUR. THESE RISK MANAGEMENT ACTIVITIES DIRECTLY IMPACT THE ULTIMATE SAVINGS ACHIEVED BY THOSE PARTICIPATING IN THE PROGRAM. ESTIMATED PREMIUM SAVINGS FOR PARTICIPATING OHA MEMBERS IS $407,745, AN AVERAGE OF APPROXIMATELY $45,305 PER MEMBER. MEMBERS IN THIS PROGRAM ARE CURRENTLY RECEIVING A 358% RETURN ON INVESTMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee-At-Large | 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 | $11,231 |
| Investment income | $91,811 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $88,899 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $191,941 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $122 |
| Pension plan accruals and contributions | $12 |
| Other employee benefits | $16 |
| Payroll taxes | $3 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $73 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $226 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $328,222 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $217 |
| 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 | $2,613,864 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,942,303 |
| 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 | $226 |
| Total liabilities | $226 |
| Net assets without donor restrictions | $2,942,077 |
| 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 | $2,942,303 |
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