Kentucky Assigned Claims Plan
- Assets
- $5.8m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Louisville, KY
- Founding
- 09/1980
- Data as of
- 12/2022
- EIN
- 51-0150466
Organization Overview
Kentucky Assigned Claims Plan is located in Louisville, KY. The organization was established in 1980. 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. Kentucky Assigned Claims Plan 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 12/2022, Kentucky Assigned Claims Plan generated $2.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.6%) each year. All expenses for the organization totaled $4.0m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (6.9%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIGN CLAIMS TO SERVICING INSURERS FOR CLAIMANTS UNDER KY REVISED STATUTES 304 SUB 39.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSIGNS CLAIMS FROM PERSONS CLAIMING AN ENTITLEMENT PURSUANT TO KY RS 304 SUB 39 TO SERVICING INSURERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Hillis Secretary-Treasurer/executive Director | OfficerTrustee | 4 | $25,734 |
Owen Caster Chairperson | OfficerTrustee | 1 | $0 |
Allison Mcneil Vice-Chairperson | OfficerTrustee | 1 | $0 |
Taylor Martin Director | Trustee | 1 | $0 |
Scot Mcfarland Director | Trustee | 1 | $0 |
Ericka Gocke Director | 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 | $2,529,752 |
| Investment income | $7,244 |
| 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 | $2,536,996 |
| 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. | $32,607 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $161,862 |
| Pension plan accruals and contributions | $24,105 |
| Other employee benefits | $45,108 |
| Payroll taxes | $12,858 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $129 |
| Fees for services: Accounting | $4,596 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $494 |
| Advertising and promotion | $0 |
| Office expenses | $10,459 |
| Information technology | $27,155 |
| Royalties | $0 |
| Occupancy | $11,200 |
| Travel | $2,717 |
| 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 | $11,332 |
| All other expenses | $0 |
| Total functional expenses | $3,960,720 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,429,396 |
| Savings and temporary cash investments | $3,298,590 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $79,547 |
| 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 | $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 | $5,807,533 |
| Accounts payable and accrued expenses | $981,846 |
| 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 | $981,846 |
| 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 | $4,825,687 |
| Total liabilities and net assets/fund balances | $5,807,533 |