Maryland Independent School Consortium
- Assets
- $1.1m
- Revenue
- $5.1k
- Investments
- $950.4k
- Employees
- 0
- Location
- Crownsville, MD
- Founding
- 10/2015
- Data as of
- 05/2023
- EIN
- 46-3607796
Organization Overview
Maryland Independent School Consortium is located in Crownsville, MD. The organization was established in 2015. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, 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. Maryland Independent School Consortium is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 05/2023, Maryland Independent School Consortium generated $5.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (73.0%) each year. All expenses for the organization totaled $442.0k during the year ending 05/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MARYLAND INDEPENDENT SCHOOL CONSORTIUM EXISTS AS A VOLUNTARY EMPLOYEE BENEFICIARY ASSOCIATION TO PROVIDE OR OBTAIN ACCESS TO WELFARE BENEFITS, THROUGH INSURANCE OR OTHERWISE, FOR ELIGIBLE EMPLOYEE AND EMPLOYEE DEPENDENTS OF PRIVATE SCHOOLS AND THEIR AFFILIATES LOCATED IN MARYLAND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MARYLAND INDEPENDENT SCHOOL CONSORTIUM HAS CONTRACTED WITH A MAJOR HEALTH INSURANCE CARRIER TO PROVIDE HEALTH INSURANCE CONTRACTS COMPLYING WITH AGREED UPON PLAN DESIGNS AND PREMIUMS TO THE ELIGIBLE EMPLOYEES OF EACH SCHOOL AND THEIR AFFILIATES. PREMIUMS ARE PAID DIRECTLY TO THE HEALTH INSURANCE CARRIER BY EACH SCHOOL. UNDER THE TERMS OF THE CONTRACT, SHOULD THE RELATIONSHIP BETWEEN PREMIUMS PAID AND CLAIMS INCURRED EXCEED AGREED UPON RATIO, THE HEALTH INSURANCE CARRIER WILL REIMBURSE A PORTION OF THE EXCESS PREMIUM TO THE CONSORTIUM, TO HOLD FOR THE BENEFIT OF THE EMPLOYEES OF THE SCHOOLS. THOSE FUNDS ARE TO BE USED TO FUND THE OPERATING EXPENSES OF THE CONSORTIUM, TO PROVIDE WELLNESS INITIATIVES FOR THE EMPLOYEES OF MEMBER SCHOOLS, AND TO FUND A PORTION OF FUTURE PREMIUMS IF AND WHEN THE TRUSTEES OF THE CONSORTIUM VOTE TO DO SO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Charbonneau Chairman | OfficerTrustee | 1 | $0 |
Ani Cook Vice Chairman | OfficerTrustee | 1 | $0 |
Mary Hunt Treasurer | OfficerTrustee | 1 | $0 |
Anita Mudge Trustee | Trustee | 1 | $0 |
Robert Rinehardt Trustee | Trustee | 1 | $0 |
Nancy Kemmerer Trustee | 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 | $0 |
| Investment income | $5,116 |
| 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 | $5,116 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,000 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,013 |
| All other expenses | $789 |
| Total functional expenses | $441,977 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $103,137 |
| 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 | $950,354 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,053,491 |
| 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 | $395,791 |
| Total liabilities | $395,791 |
| 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 | $657,700 |
| Total liabilities and net assets/fund balances | $1,053,491 |