Rhg Shared Risk Funding Inc
- Assets
- $15.6m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 06/2003
- Data as of
- 06/2021
- EIN
- 58-2270723
Organization Overview
Rhg Shared Risk Funding Inc is located in Atlanta, GA. The organization was established in 2003. 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. Rhg Shared Risk Funding Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Rhg Shared Risk Funding Inc generated $2.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (25.6%) each year. All expenses for the organization totaled $20.7k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (68.5%) per year over the past 6 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
TO SUPPORT THE OPERATIONS OF RELATED PUBLIC CHARITIES WHICH ARE PROVIDERS OF HEALTH CARE OR OPERATIORS OR DEVELOPERS OF LOW INCOME HOUSING FACILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAINED AND INVESTED RESERVES TO SUPPORT THE OPERATIONS OF TWO PUBLIC CHARITIES WHICH ARE OPERATORS AND/OR DEVELOPERS OF LOW INCOME HOUSING AND UNDER COMMON CONTROL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John West President/cfo/director | OfficerTrustee | 1.5 | $0 |
Bryant G Coats Ceo/director | OfficerTrustee | 1.5 | $0 |
Chase Northcutt Vice President | OfficerTrustee | 0.1 | $0 |
Samit Patel Vice President | Officer | 0 | $0 |
Heather-Dawn Ashley Vice President | Officer | 0 | $0 |
John T Carssow Director | Trustee | 0.1 | $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 | $203,194 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,470,911 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,674,105 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,434 |
| 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 | $0 |
| All other expenses | $9,277 |
| Total functional expenses | $20,711 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,671 |
| 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 | $972,000 |
| Investments—publicly traded securities | $14,562,753 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $82,684 |
| Total assets | $15,622,108 |
| 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 | $539,044 |
| Total liabilities | $539,044 |
| Net assets without donor restrictions | $15,083,064 |
| 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 | $15,622,108 |
Grants Awarded
Over the last fiscal year, Rhg Shared Risk Funding Inc has awarded $3,599,274 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Atlanta, GA PURPOSE: SUPPORT OPERATING EXPENSES | $3,499,274 |
Atlanta, GA PURPOSE: Support Operating Expenses | $100,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Rhg Shared Risk Funding Inc has recieved totaling $3,591,804.
| Awarding Organization | Amount |
|---|---|
Rhg Management Services Inc Atlanta, GA PURPOSE: CONTRIBUTION TO SUPPORTING ORG FOR INVESTMENT | $2,763,542 |
Rhg North Carolina Mr Inc Atlanta, GA PURPOSE: FORGIVENESS OF DEBTS OWED BY AFFILIATE | $828,262 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jackson Utility Division Benefits Program Trust Jackson, TN | $8,539,572 | $8,659,868 |
Georgia Insurers Insolvency Pool Duluth, GA | $145,962,190 | $6,621,081 |
The University Of South Alabama Professional Liability Trust Fund Mobile, AL | $52,169,275 | $10,546,535 |
Hedrick Employee Group Benefit Plan Trust Salisbury, NC | $2,627,065 | $8,303,348 |
Florida Surplus Lines Service Office Tallahassee, FL | $53,775,536 | $9,728,040 |
Diamond G Employee Benefit Trust Greeneville, TN | $11,777 | $4,902,526 |
Mcelroy Truck Lines Inc Medical Benefit Plan Cuba, AL | $1,269 | $5,259,792 |
Caspers Inc Employees Benefit Trust Tampa, FL | $605,541 | $4,723,581 |
Mssa Ila Supplemental Benefit Fund Mobile, AL | $9,271,097 | $4,632,071 |
Tennessee Insurance Guaranty Nashville, TN | $174,263,578 | $10,389,316 |
Plumbers And Pipefitters Local 123 Welfare Fund Jacksonville, FL | $13,848,686 | $6,651,358 |
Homeland Vinyl Products Inc Employee Benefit Pl & Tr Birmingham, AL | $446,049 | $3,900,101 |