Advanced Providers Insurance Risk Retention Group Inc
- Assets
- $1.5m
- Revenue
- $82.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Phoenix, AZ
- Founding
- 09/2008
- Data as of
- 12/2023
- EIN
- 20-1095828
Organization Overview
Advanced Providers Insurance Risk Retention Group Inc, operating under the name Same, is located in Phoenix, AZ. The organization was established in 2008. According to its NTEE Classification (Y23) the organization is classified as: Mutual Insurance Companies & Associations, 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. Same is a 501(c)(15) and as such, is described as a "Mutual Insurance Company or Association" by the IRS.
For the year ending 12/2023, Same generated $82.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (13.1%) each year. All expenses for the organization totaled $121.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE MEDICAL MALPRACTICE INSURANCE TO MEDICAL PROFESSIONALS THAT MAKE HOUSE CALLS TO ELDERLY PATIENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMPANY PROVIDES MEDICAL MALPRACTICE INSURANCE AT REDUCED PREMIUM RATES TO ITS MEMBER POLICYHOLDERS WHO PROVIDE MEDICAL CARE TO GERIATRIC HOME BOUND PATIENTS. THE COMPANY CURRENTLY HAS 12 POLICIES ISSUED THAT COVER PARTICIPATING PHYSICIANS, PHYSICIAN ASSISTANTS AND NURSE PRACTITIONERS. THROUGH PARTICIPATION IN THE RRG, THE HEALTH CARE PROVIDERS ARE ABLE TO KEEP THEIR PREMIUM RATES LOW ENOUGH TO CONTINUE TO SERVE ELDERLY HOME BOUND PATIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Marlin President, Treasurer, Dire | OfficerTrustee | 5.4 | $41,894 |
Edwin Soler-Valcourt MD Secretary, Director | OfficerTrustee | 0 | $0 |
Tiffany Reo Director | Trustee | 0 | $0 |
Tom Plamondon Director | Trustee | 0.05 | $0 |
Maureen Bell Director | Trustee | 0.2 | $1,750 |
James Gordon Assistant Secretary | Officer | 0.2 | $4,988 |
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 | $59,302 |
| Investment income | $22,171 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $610 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $82,083 |
| 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 | $25,000 |
| 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 | $41,894 |
| Fees for services: Legal | $5,157 |
| Fees for services: Accounting | $14,440 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,186 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,000 |
| 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 | $1,371 |
| Total functional expenses | $121,864 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $659,644 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,438 |
| 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 | $1,810 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $856,529 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,532,421 |
| Accounts payable and accrued expenses | $15,510 |
| Grants payable | $0 |
| Deferred revenue | $18,096 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $81,700 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $133,906 |
| Total liabilities | $249,212 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $12 |
| Paid-in or capital surplus, or land, building, or equipment fund | $4,863 |
| Retained earnings, endowment, accumulated income, or other funds | $1,278,334 |
| Total liabilities and net assets/fund balances | $1,532,421 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Homestead Water Company Evergreen, CO | $3,079,994 | $630,786 |
Apple Valley Fire Protection District Retiree Hra Trust Apple Valley, CA | $4,033,135 | $940,909 |
Advanced Providers Insurance Risk Retention Group Inc Phoenix, AZ | $1,532,421 | $82,083 |
Colorado Health Insurance Cooperative Inc San Francisco, CA | $4,168,692 | -$825,339 |
Heritage Estates Mutual Water Company Gilroy, CA | $88,929 | $0 |
Security Plus Financial Corp Denver, CO | $851,251 | $42,280 |
Royal Stewart Water Company Roosevelt, UT | $0 | $0 |
California Life Insurance Guaranty Association Roseville, CA | $80,932,488 | $26,129,771 |