General Liability Defense IC

“Governing documents, conflict of interest policy, and financial statements are available upon request. The organization is included in consolidated financial statements with the university of southern california which is made available to the public on the university's website.”

“The individuals reported as receiving compensation from a related organization in columns (e) and (f) in form 990, part vii, are employees of the university of southern california, a tax-exempt related organization. Each of these individuals has devoted an average of 40-50 hours per week to their positions at the university of southern california.”

“General liability defense, ic (general liability) is a public benefit corporation and incorporated protected cell of a sponsored captive insurance company organized in accordance with the vermont nonprofit corporation act and chapter 141 of title 8 of the vermont statutes annotated. General liability is organized and operated as a supporting organization described in internal revenue code section 509(a)(3) to provide services and resources for the benefit of, to perform functions of, and to carry out the purposes of, the university of southern california (usc) and usc's tax-exempt affiliates, so long as usc and such affiliates are described in paragraphs (1) or (2) of section 509(a). Specifically, general liability's sole planned activity is to facilitate self-insurance with respect to certain casualty exposures of usc and usc's tax-exempt affiliates. Form 990, part vi, section a, lines 6, 7a, and 7b: the sole corporate member of the organization is the university of southern california, a california tax-exempt organization. The corporate member has the authority to approve directors elected by the board and remove directors and the authority to approve changes to the bylaws. Actions requiring approval of the corporate member include any changes to the composition of the board of directors and bylaw changes. Form 990, part vi, section b, line 11b: the organization's form 990 is reviewed at several levels. The organization engages an external public accounting firm to assist in the preparation and review of its form 990 and who signs as paid preparer. The review of the final form 990 is conducted by the captive insurance manager, aon, inc. And the usc comptroller's office prior to board distribution and is being filed with the irs. Form 990, part vi, lines 12, 13, and 14: the organization has a conflict of interest policy. Pursuant to the conflict of interest policy, if an individual believes or suspects that a conflict of interest may exist it should be disclosed to the board of directors. Related organizations of the university of southern california follow the university's policies. General liability defense ic follows the university of southern california's written document retention and whistleblower policies which were previously issued by university management and are currently in effect.”

“Form 990, part xi, line 9 initial funding 1,545,000”

“Description:claims handling fee total fees:115000”

“Description:program expense fees from core total fees:41602”