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← GEORGIA SCHOOL BOARD ASSOCIATION RISK & INSURANCE MANAGEMENT SYSTEM

Form 990 for tax year 2023

Filed by GEORGIA SCHOOL BOARD ASSOCIATION RISK & INSURANCE MANAGEMENT SYSTEM.

Totals

Total revenue
$49,204,188
Total expenses
$53,121,393
Contributions and grants received
$0
Grants paid
$24,045
Program service revenue
$46,028,086
Investment income
$3,176,102
Other revenue
$0
Total assets, end of year
$56,404,642
Total liabilities, end of year
$36,046,835
Net assets or fund balances, end of year
$20,357,807
Program services expenses (Part IX)
$51,679,928
Management and general expenses
$1,441,465
Fundraising expenses
$0
Program service expenses (Part III)
$51,679,928

Program services were 97.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: FUND CONTRIBUTIONS

    total $46,020,590 · related or exempt $46,020,590

  • 2b · Program service revenue: MISCELLANEOUS

    total $7,496 · related or exempt $7,496

  • 3 · Investment income

    total $2,593,527 · excluded $2,593,527

  • 7a · Gross sales of assets other than inventory

    securities $26,064,214

  • 7b · Less cost or other basis and sales expenses

    securities $25,481,639

  • 7c · Gain or loss

    securities $582,575

  • 7d · Net gain or loss

    total $582,575 · excluded $582,575

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $24,045 · program services $24,045

  • 11a · Fees: management

    total $669,576 · management and general $669,576

  • 11b · Fees: legal

    total $7,792 · management and general $7,792

  • 11c · Fees: accounting

    total $29,624 · management and general $29,624

  • 11f · Fees: investment management

    total $121,604 · management and general $121,604

  • 11g · Fees: other

    total $1,369,240 · program services $1,369,240

  • 13 · Office expenses

    total $288 · management and general $288

  • 14 · Information technology

    total $101,623 · program services $101,623

  • 17 · Travel

    total $3,299 · management and general $3,299

  • 19 · Conferences, conventions and meetings

    total $979 · management and general $979

  • 20 · Interest

    total $29 · management and general $29

  • 23 · Insurance

    total $30,217 · management and general $30,217

  • 24a · Other expenses: ESTIMATED & INCURRED CL

    total $28,830,896 · program services $28,830,896

  • 24b · Other expenses: EXCESS INSURANCE EXPENS

    total $19,754,908 · program services $19,754,908

  • 24c · Other expenses: CLAIMS ADMINISTRATION

    total $1,165,844 · program services $1,165,844

  • 24d · Other expenses: MEMBERSHIP DEVELOPMENT

    total $577,776 · management and general $577,776

  • 24e · All other expenses

    total $433,653 · program services $433,372 · management and general $281

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $21,003,951 · end of year $18,780,285

  • 4 · Accounts receivable

    beginning of year $4,783,524 · end of year $4,599,579

  • 9 · Prepaid expenses and deferred charges

    beginning of year $100,212 · end of year $115,826

  • 11 · Investments: publicly traded securities

    beginning of year $30,157,527 · end of year $32,729,993

  • 15 · Other assets

    beginning of year $168,793 · end of year $178,959

  • 17 · Accounts payable and accrued expenses

    beginning of year $126,613 · end of year $191,974

  • 19 · Deferred revenue

    beginning of year $562,912 · end of year $469,670

  • 25 · Other liabilities

    beginning of year $32,113,862 · end of year $35,385,191

  • 27 · Net assets without donor restrictions

    beginning of year $23,410,620 · end of year $20,357,807

Mission and programs · 2023

Mission

THE MISSION OF THE GSBA RISK MANAGEMENT FUND IS TO PARTNER WITH LOCAL SCHOOL SYSTEMS TO PROTECT ASSETS AND MINIMIZE LOSSES THROUGH SUPERIOR CUSTOMIZED ALTERNATIVES TO TRADITIONAL INSURANCE WHILE MAINTAINING FINANCIAL INTEGRITY.

Activities or mission (Part I)

SEE SCHEDULE O FOR COMPLETE DESCRIPTION.THE MISSION OF THE GSBA RISK MANAGEMENT FUND IS TO PARTNER WITH LOCALSCHOOL SYSTEMS TO PROTECT ASSETS AND MINIMIZE LOSSES THROUGH SUPERIORCUSTOMIZED ALTERNATIVES TO TRADITIONAL INSURANCE WHILE MAINTAININGFINANCIAL INTEGRITY.

  • DEVELOP, IMPLEMENT, ADMINISTER, AND MAINTAIN A PROGRAM OF PROPERTY AND LIABILITY SELF-INSURANCE FOR ITS MEMBER ORGANIZATIONS. GSBA RISK MANAGEMENT FUND OFFERS PROTECTION THROUGH ITS GROUP-SELF-INSURANCE PLANS FOR PROPERTY AND LIABILITY RISKS. THE ORGANIZATION PARTNERS WITH GEORGIA PUBLIC SCHOOL SYSTEMS AND GOES FAR BEYOND THE NORMAL SERVICE FROM A COMMERCIAL INSURANCE BROKER. THE STAFF BUILDS RELATIONSHIPS WITH ITS MEMBERS AND PROVIDES TRAINING AND INFORMATION TO ASSIST MEMBERS IN SUCCESSFULLY MANAGING THEIR RISKS. THE FUND DELIVERS PERSONAL SUPPORT TO ITS MEMBERS AT THE HIGHEST PROFESSIONAL LEVEL AS NEEDED FOR ALL LIABILITY AND PROPERTY INSURANCE RELATED SERVICES. A TEAM OF RISK MANAGEMENT STAFF AND CONSULTANTS ARE IN PLACE TO ASSIST MEMBERS IN MINIMIZING LOSS EXPOSURES, INJURIES, AND DAMAGES THROUGH RISK IDENTIFICATION, ASSESSMENT, PLANNING, PHYSICAL INSPECTIONS, RESEARCH AND OTHER SPECIAL STATE-WIDE INITIATIVES AND MEETINGS ORIENTED TO PUBLIC SCHOOLS AND EDUCATION.

    Expenses $51,679,928 · Grants $24,045 · Revenue $46,028,086

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Valarie V Wilson

    EXECUTIVE DIRECTOR

    Total calculated
    $336,553
    From this org
    $0
    From related orgs
    $290,612
    Other
    $45,941
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $282,228 related
    Bonus
    $0 + $715 related
    Other
    $0 + $7,669 related
    Deferred
    $0 + $29,768 related
    Nontaxable benefits
    $0 + $16,173 related
    Filer's total
    $0 + $336,553 related

  • Ronald Hopkins

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • David Lewis

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Teresa Hardy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Eaddy Sams

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Kenneth Dyer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Nathan Franklin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Noris Price

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Virgil Cole

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Byron Jones

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • FAYETTE COUNTY SCHOOLS

    $5,006

    SAFETY GRANT 2024

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • WORTH COUNTY SCHOOLS

    EDUCATION · GA

  • WILCOX COUNTY SCHOOLS

    EDUCATION · GA

  • WHITFIELD COUNTY SCHOOLS

    EDUCATION · GA

  • WHITE COUNTY SCHOOLS

    EDUCATION · GA

  • WHEELER COUNTY SCHOOLS

    EDUCATION · GA

  • WEST GA RESA

    EDUCATION · GA

  • WEBSTER COUNTY SCHOOLS

    EDUCATION · GA

  • WAYNE COUNTY SCHOOLS

    EDUCATION · GA

  • WASHINGTON COUNTY SCHOOLS

    EDUCATION · GA

  • WARE COUNTY SCHOOLS

    EDUCATION · GA

  • WALTON COUNTY SCHOOLS

    EDUCATION · GA

  • UNION COUNTY SCHOOLS

    EDUCATION · GA

  • TURNER COUNTY SCHOOLS

    EDUCATION · GA

  • TRION CITY SCHOOLS

    EDUCATION · GA

  • TREUTLEN COUNTY SCHOOLS

    EDUCATION · GA

  • TOWNS COUNTY SCHOOLS

    EDUCATION · GA

  • TOOMBS COUNTY SCHOOLS

    EDUCATION · GA

  • TIFT COUNTY SCHOOLS

    EDUCATION · GA

  • TAYLOR COUNTY SCHOOLS

    EDUCATION · GA

  • TATTNALL COUNTY SCHOOLS

    EDUCATION · GA

  • TALIAFERRO COUNTY SCHOOLS

    EDUCATION · GA

  • STEPHENS COUNTY SCHOOLS

    EDUCATION · GA

  • SOCIAL CIRCLE CITY SCHOOLS

    EDUCATION · GA

  • SEMINOLE COUNTY SCHOOLS

    EDUCATION · GA

  • SCREVEN COUNTY SCHOOLS

    EDUCATION · GA

  • SCHLEY COUNTY SCHOOLS

    EDUCATION · GA

  • SAVANNAH-CHATHAM COUNTY SCHOOLS

    EDUCATION · GA

  • ROCKDALE COUNTY SCHOOLS

    EDUCATION · GA

  • RICHMOND COUNTY SCHOOLS

    EDUCATION · GA

  • RANDOLPH COUNTY SCHOOLS

    EDUCATION · GA

  • RABUN COUNTY SCHOOLS

    EDUCATION · GA

  • QUITMAN COUNTY SCHOOLS

    EDUCATION · GA

  • PUTNAM COUNTY SCHOOLS

    EDUCATION · GA

  • PULASKI COUNTY SCHOOLS

    EDUCATION · GA

  • PIONEER RESA

    EDUCATION · GA

  • PIERCE COUNTY SCHOOLS

    EDUCATION · GA

  • PICKENS COUNTY SCHOOLS

    EDUCATION · GA

  • PELHAM CITY SCHOOLS

    EDUCATION · GA

  • PAULDING COUNTY SCHOOLS

    EDUCATION · GA

  • OGLETHORPE COUNTY SCHOOLS

    EDUCATION · GA

  • OCONEE COUNTY SCHOOLS

    EDUCATION · GA

  • NORTHWEST GA RESA

    EDUCATION · GA

  • NORTHEAST GA RESA

    EDUCATION · GA

  • NEWTON COUNTY SCHOOLS

    EDUCATION · GA

  • MUSCOGEE COUNTY SCHOOLS

    EDUCATION · GA

  • MORGAN COUNTY SCHOOLS

    EDUCATION · GA

  • MONROE COUNTY SCHOOLS

    EDUCATION · GA

  • MITCHELL COUNTY SCHOOLS

    EDUCATION · GA

  • MILLER COUNTY SCHOOLS

    EDUCATION · GA

  • MIDDLE GA RESA

    EDUCATION · GA

  • MERIWETHER COUNTY SCHOOLS

    EDUCATION · GA

  • MCINTOSH COUNTY SCHOOLS

    EDUCATION · GA

  • MCDUFFIE COUNTY SCHOOLS

    EDUCATION · GA

  • MARIETTA CITY SCHOOLS

    EDUCATION · GA

  • MACON COUNTY SCHOOLS

    EDUCATION · GA

  • LUMPKIN COUNTY SCHOOLS

    EDUCATION · GA

  • LONG COUNTY SCHOOLS

    EDUCATION · GA

  • LIBERTY COUNTY SCHOOLS

    EDUCATION · GA

  • LEE COUNTY SCHOOLS

    EDUCATION · GA

  • LAMAR COUNTY SCHOOLS

    EDUCATION · GA

  • JEFFERSON CITY SCHOOLS

    EDUCATION · GA

  • JEFF DAVIS COUNTY SCHOOLS

    EDUCATION · GA

  • JASPER COUNTY SCHOOLS

    EDUCATION · GA

  • JACKSON COUNTY SCHOOLS

    EDUCATION · GA

  • HOUSTON COUNTY SCHOOLS

    EDUCATION · GA

  • HEARD COUNTY SCHOOLS

    EDUCATION · GA

  • HART COUNTY SCHOOLS

    EDUCATION · GA

  • HARALSON COUNTY SCHOOLS

    EDUCATION · GA

  • HALL COUNTY SCHOOLS

    EDUCATION · GA

  • HABERSHAM COUNTY SCHOOLS

    EDUCATION · GA

  • GSBA

    PROVIDES LEADERSHIP, ADVOCACY AND SERVICES TO LOCAL SCHOOL SYSTEMS. · GA

  • GRIFFIN SPALDING COUNTY SCHOOLS

    EDUCATION · GA

  • GRIFFIN RESA

    EDUCATION · GA

  • GRADY COUNTY SCHOOLS

    EDUCATION · GA

  • GLYNN COUNTY SCHOOLS

    EDUCATION · GA

  • GILMER COUNTY SCHOOLS

    EDUCATION · GA

  • GAINESVILLE CITY SCHOOLS

    EDUCATION · GA

  • FRANKLIN COUNTY SCHOOLS

    EDUCATION · GA

  • FLOYD COUNTY SCHOOLS

    EDUCATION · GA

  • FAYETTE COUNTY SCHOOLS

    EDUCATION · GA

  • FANNIN COUNTY SCHOOLS

    EDUCATION · GA

  • EVANS COUNTY SCHOOLS

    EDUCATION · GA

  • EMANUEL COUNTY SCHOOLS

    EDUCATION · GA

  • ELBERT COUNTY SCHOOLS

    EDUCATION · GA

  • ECHOLS COUNTY SCHOOLS

    EDUCATION · GA

  • EARLY COUNTY SCHOOLS

    EDUCATION · GA

  • DOUGLAS COUNTY SCHOOLS

    EDUCATION · GA

  • DOUGHERTY COUNTY SCHOOLS

    EDUCATION · GA

  • DOOLY COUNTY SCHOOLS

    EDUCATION · GA

  • DODGE COUNTY SCHOOLS

    EDUCATION · GA

  • DECATUR COUNTY SCHOOLS

    EDUCATION · GA

  • DAWSON COUNTY SCHOOLS

    EDUCATION · GA

  • DALTON PUBLIC SCHOOLS

    EDUCATION · GA

  • DADE COUNTY SCHOOLS

    EDUCATION · GA

  • CRISP COUNTY SCHOOLS

    EDUCATION · GA

  • CRAWFORD COUNTY SCHOOLS

    EDUCATION · GA

  • COMMERCE CITY SCHOOLS

    EDUCATION · GA

  • COLUMBIA COUNTY SCHOOLS

    EDUCATION · GA

  • COLQUITT COUNTY SCHOOLS

    EDUCATION · GA

  • COFFEE COUNTY SCHOOLS

    EDUCATION · GA

  • CLAY COUNTY SCHOOLS

    EDUCATION · GA

  • CLARKE COUNTY SCHOOLS

    EDUCATION · GA

  • CITY SCHOOLS OF DECATUR

    EDUCATION · GA

  • CHICKAMAUGA CITY SCHOOLS

    EDUCATION · GA

  • CHATTOOGA COUNTY SCHOOLS

    EDUCATION · GA

  • CHATTAHOOCHEE COUNTY SCHOOLS

    EDUCATION · GA

  • CHARLTON COUNTY SCHOOLS

    EDUCATION · GA

  • CENTRAL SAVANNAH RIVER AREA RESA

    EDUCATION · GA

  • CARROLL COUNTY SCHOOLS

    EDUCATION · GA

  • CALHOUN COUNTY SCHOOLS

    EDUCATION · GA

  • BUTTS COUNTY SCHOOLS

    EDUCATION · GA

  • BRYAN COUNTY SCHOOLS

    EDUCATION · GA

  • BREMEN CITY SCHOOLS

    EDUCATION · GA

  • BRANTLEY COUNTY SCHOOLS

    EDUCATION · GA

  • BLECKLEY COUNTY SCHOOLS

    EDUCATION · GA

  • BIBB COUNTY SCHOOLS

    EDUCATION · GA

  • BARTOW COUNTY SCHOOLS

    EDUCATION · GA

  • BARROW COUNTY SCHOOLS

    EDUCATION · GA

  • BANKS COUNTY SCHOOLS

    EDUCATION · GA

  • BALDWIN COUNTY SCHOOLS

    EDUCATION · GA

  • BAKER COUNTY SCHOOLS

    EDUCATION · GA

  • BACON COUNTY SCHOOLS

    EDUCATION · GA

  • ATKINSON COUNTY SCHOOLS

    EDUCATION · GA

  • APPLING COUNTY SCHOOLS

    EDUCATION · GA

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202443199349312844

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