Hills Insurance Company Inc
- Assets
- $233.0m
- Revenue
- $7.1m
- Investments
- $15.8m
- Employees
- 0
- Location
- Mishawaka, IN
- Founding
- 08/2004
- Data as of
- 12/2021
- EIN
- 03-0372512
Organization Overview
Hills Insurance Company Inc is located in Mishawaka, IN. The organization was established in 2004. 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. Hills Insurance Company 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 12/2021, Hills Insurance Company Inc generated $7.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.2%) each year. All expenses for the organization totaled $30.9m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING SELF-INSURANCE TO HOSPITALS OWNED AND/OR CONTROLLED BY ITS MEMBER, FRANCISCAN ALLIANCE, INC.
Describe the Organization's Program Activity:
FRANCISCAN ALLIANCE, INC. IS A NOT-FOR-PROFIT CORPORATION WHICH PROVIDES HEALTH CARE AND RELATED SERVICES TO THE COMMUNITIES IN WHICH IT OPERATES. THE SPONSORSHIP OF FRANCISCAN ALLIANCE, INC. IS UNDER THE GOVERNANCE OF THE SISTERS OF ST. FRANCIS OF PERPETUAL ADORATION. HOSPITALS OWNED AND/OR CONTROLLED BY FRANCISCAN ALLIANCE, INC. ARE NOT-FOR-PROFIT HEALTH CARE PROVIDERS ESTABLISHED TO MEET THE HEALTH CARE NEEDS OF AREA RESIDENTS. THE HILLS INSURANCE COMPANY, INC. IS A WHOLLY-OWNED SUBSIDIARY OF FRANCISCAN ALLIANCE, INC. FORMED TO PROVIDE SELF-INSURANCE FOR FRANCISCAN ALLIANCE, INC. IN THIS REGARD, THE HILLS INSURANCE COMPANY, INC. PROVIDES PROFESSIONAL AND GENERAL LIABILITY INSURANCE COVERAGES TO ITS MEMBER, FRANCISCAN ALLIANCE, INC., AND THE HOSPITALS OWNED AND/OR CONTROLLED BY FRANCISCAN ALLIANCE, INC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin D Leahy Director, President | OfficerTrustee | 1 | $0 |
Sister M Ann Kathleen Magiera Director, Treasurer | OfficerTrustee | 1 | $0 |
Russell A Young Director, Assistant Secretary | OfficerTrustee | 1 | $0 |
Sister Jane Marie Klein Director, Chairperson | OfficerTrustee | 1 | $0 |
Sister Lethia Marie Leveille Director, Secretary | OfficerTrustee | 1 | $0 |
Daniel Conner Vice President | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Safe Reliable Healthcare Risk Mgmt Consulting | 12/30/17 | $102,435 |
Risk Mgmt And Patient Safety Instit Risk Mgmt Consulting | 12/30/17 | $152,841 |
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 | $14,756,987 |
| Investment income | $2,433,992 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$10,054,785 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,136,194 |
| 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 | $51,500 |
| Fees for services: Legal | $5,600 |
| Fees for services: Accounting | $175,436 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $454,283 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $362 |
| 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 | $30,886,332 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,200,277 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,464,824 |
| 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 | $164,355,771 |
| Investments—other securities | $15,828,939 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,166,783 |
| Total assets | $233,016,594 |
| Accounts payable and accrued expenses | $676,302 |
| 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 | $145,792,264 |
| Total liabilities | $146,468,566 |
| Net assets without donor restrictions | $86,548,028 |
| 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 | $233,016,594 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Chicago Self Insurance Trust Chicago, IL | $366,096,537 | $38,837,635 |
Welfare Fund Of Engineers Local 513 Bridgeton, MO | $114,642,323 | $59,012,393 |
Heritage Group Employee Benefit Trust Indianapolis, IN | $5,252,708 | $48,474,958 |
Ssmhcs Liability Trust Mercantile Bank Ttee St Louis, MO | $216,786,212 | $51,161,074 |
Rush University Medical Centers Self-Insurance Trust For Healthcar Chicago, IL | $184,033,612 | $58,498,218 |
American United Life Insurance Company Welfare Benefits Trust Indianapolis, IN | $8,410,756 | $27,962,029 |
Hills Insurance Company Inc Mishawaka, IN | $233,016,594 | $7,136,194 |
Pohlad Group Veba Trust Milwaukee, WI | $1,880,360 | $21,238,879 |
Automatic Sprinkler-281 U A Welfare Fund Alsip, IL | $43,182,482 | $25,386,372 |
Learfield Communications Group Benefit Trust Inc Jefferson City, MO | $2,893,573 | $17,688,532 |
St Anthony's Med Cnt Prof & Gen Liab Milwaukee, WI | $0 | $2,384,132 |
Illinois Insurance Guaranty Fund Chicago, IL | $161,417,885 | $26,320,531 |