Tcig Inc
- Assets
- $1.4m
- Revenue
- $606.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Burlington, VT
- Founding
- Data as of
- 12/2021
- EIN
- 87-2580182
Organization Overview
Tcig Inc is located in Burlington, VT. Tcig Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION WAS FORMED AS AN ONSHORE CAPTIVE INSURANCE COMPANY TO INSURE THE RISKS OF THE CARMELITE SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TCIG, INC. EXISTS FOR THE PURPOSE OF ENGAGING IN THE BUSINESS OF INSURING AND REINSURING VARIOUS TYPES OF RISK SOLELY IN SUPPORT OF THE CARMELITE SYSTEM, INC. (THE "SYSTEM"), INCLUDING RISKS OF THE SYSTEM AFFILIATES. TCIG, INC. SUPPORTS THE SYSTEM IN CONDUCTING ITS SYSTEMWIDE FINANCIAL AND RISK MANAGEMENT OVERSIGHT ACTIVITIES - SPECIFICALLY, BY INSURING AND REINSURING VARIOUS TYPES OF RISK OTHERWISE SELF-INSURED BY THE SYSTEM OR THE SYSTEM AFFILIATES. THE SYSTEM IS A NOT-FOR-PROFIT HEALTH SYSTEM THAT IS COMMITTED TO PERPETUATING AND STRENGTHENING THE CATHOLIC LONG-TERM HEALTH MINISTRY, RESPECTING AND BUILDING UPON THE MISSION, PHILOSOPHY AND VALUES OF THE CARMELITE SISTERS. CURRENTLY, THERE ARE 15 AFFILIATES OF THE SYSTEM THAT OPERATE SKILLED NURSING, ASSISTED LIVING, AND INDEPENDENT LIVING FACILITIES IN THE STATES OF FLORIDA, MASSACHUSETTS, OHIO, NEW YORK, ILLINOIS, IOWA, AND KENTUCKY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed 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 | $606,473 |
| Investment income | $0 |
| 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 | $606,473 |
| 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 | $30,345 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,000 |
| 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 | $0 |
| Total functional expenses | $50,345 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $350,000 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,039,261 |
| 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 | $1,389,261 |
| Accounts payable and accrued expenses | $50,345 |
| Grants payable | $0 |
| Deferred revenue | $432,788 |
| 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 | $325,095 |
| Total liabilities | $808,228 |
| Net assets without donor restrictions | $581,033 |
| 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 | $1,389,261 |
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