501(c) is a provision of the United States Internal Revenue Code (26 U.S.C. § 501(c)), listing 27 types of non-profit organizations exempt from somefederal income taxes. Sections 503 through 505 list the requirements for attaining such exemptions. Many states reference Section 501(c) for definitions of organizations exempt from state taxation as well.
Section 501(c)(3) is a tax law provision granting exemption from the federal income tax to non-profit organizations. This exemption does not cover other federal taxes such as employment taxes.
501(c)(3) exemptions apply to corporations, and any community chest, fund, or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, or to foster national or international amateur sports competition, or for the prevention of cruelty to children or animals.
Another provision, 26 U.S.C. § 170, provides a deduction, for federal income tax purposes, for some donors who make charitable contributions to most types of 501(c)(3) organizations, among others. Regulations specify which such deductions must be verifiable in order to be allowed (e.g., receipts for donations over $250).
Testing for public safety is described under section 509(a)(4) of the code which makes the organization a public charity and not a private foundation, but contributions to 509(a)(4) organizations are not deductible by the donor for federal income, estate, or gift tax purposes.
The three principal classifications of 501(c)(3) organizations are as follows:
A public charity, identified by the Internal Revenue Service (IRS) as “not a private foundation,” normally receives a substantial part of its income, directly or indirectly, from the general public or from the government. The public support must be fairly broad, not limited to a few individuals or families. Public charities are defined in the Internal Revenue Code under sections 509(a)(1) through 509(a)(4).
A private foundation, sometimes called a non-operating foundation, receives most of its income from investments and endowments. This income is used to make grants to other organizations, rather than being disbursed directly for charitable activities. Private foundations are defined in the Internal Revenue Code under section 509(a) as 501(c)(3) organizations which do not qualify as public charities.
A private operating foundation is a private foundation that devotes most of its earnings and assets directly to the conduct of its tax exempt purposes, rather than to making grants to other organizations for these purposes. Private operating foundations are defined in the Internal Revenue Code under section 4942(j)(3).
- Healthcare Options
- Supplemental Unemployment Benefit Plan (SUB Plan)
- Construction Bonding Assets
- Executive Compensation
- Employer Disability Income
- Business Overhead Expense
- Buy-Sell Agreements
- Key Person
- Pension and 401K
- Life and AD&D
- Much more.
The Casino business in San Diego County, and many of the surrounding counties, has been growing over the last few years at an increasing rate. As a unique business with unique needs when it comes to group benefits, West Coast Group Benefits has been working with the gaming companies for years. Using the latest high tech administrative services, as well as a variety of fully insured and self insured products, West Coast Group Benefits has an established track record for providing health, life, disability, and more to meet the needs of this unique business.
Large Group Commercial Business
For years West Coast Group Benefits has been working with large employer groups throughout the United States to provide sensible health care solutions for employee and their families. West Coast Group Benefits represents a multitude of insurance carriers who offer an array of group benefits products that fit the unique needs of the larger employer groups.
In today’s complex world of employee benefits, professional assistance is needed in the development of a competitive benefits package. Additionally, a client needs the assistance to successfully manage these benefits. West Coast Group Benefits is one of the very few Brokerages that offer fully integrated services to our clients. From claims resolution to complete HR management systems, West Coast Group Benefits provides the solution you need.
Listed as below are some of the standard services that West Coast Group Benefits offers to each of its clients:
Comprehensive Employee Benefit Consulting/Brokerage services including:
- Understanding our client’s employee benefit needs and goals
- Designing and implementing benefits packages to meet those goals.
- Creating and producing employee communication materials to take the burden off our client’s administrative personnel.
- Conduct on-site employee orientations and administrative training sessions meeting the unique time constraints of each of our clients.
- Provide complete client support through our in-house account/claims management personnel.
- Keep our clients up to date with monthly legislative updates relevant to Human Resource/Benefit issues.
- Assist our clients with benefit design by preparing and analyzing Employee Benefit Surveys and benchmarking studies.
- Prepare “Hidden Paycheck” reports to help employees gain an appreciation of the value of their employer-sponsored benefits.
- Provide on-line resources to access forms, policy information, links to insurance carriers, research data base, employee surveys, and enrollment services.
- HR Management System complete with employee self service features.
Other services include:
- 401K/pension plan design, consulting, and administration
- 5500 compliance and anti-discrimination testing/monitoring
- Section 125 Cafeteria plan design, communication, and administration
- COBRA /HIPAA compliance and management services
- Claims administration through our Third Party Administrators.
- Employee handbook design
Small employer groups today are faced with more and more administrative compliance issues when it comes to offering their employees health benefits. At West Coast Group Benefits, we represent all the carriers and can provide a variety of options that fit your needs. Small employer groups don’t always have the resources to deal with today’s complex world of health insurance and associated compliance issues. At West Coast Group Benefits, our goal is to provide the navigation and services you need as a small employer group. From basic benefits comparisons to complex HIPAA issues, we are here to assist you.
Our HR Management package allows you the ability to completely manage every aspect facing a HR administrator today. The package also contains employee information tracking to eligibility. Ask about this option for your company.
In addition West Coast Group Benefits has a dedicated service staff to help assist you with every need. From claim questions to eligibility, West Coast Group Benefits has an experience staff to assist you at any time.
Group Benefits are changing all the time and it is hard to understand what might fill the unique needs of today’s small employer. West Coast Group Benefits specializes in matching your needs with today’s available options. Let us help so you can concentrate on what’s important to your business.
“The way we work with our clients is based on our founders philosophy 'Do the right thing when nobody’s looking'”