Lions Insurance Company
- Assets
- $36.4m
- Revenue
- $7.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Indianapolis, IN
- Founding
- 03/2007
- Data as of
- 12/2022
- EIN
- 20-4372643
Organization Overview
Lions Insurance Company is located in Indianapolis, IN. The organization was established in 2007. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lions Insurance Company 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 12/2022, Lions Insurance Company generated $7.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $3.9m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE INSURANCE COVERING THE PROFESSIONAL AND GENERAL LIABILITY EXPOSURES OF THE NURSING HOMES OPERATED BY HEALTH AND HOSPITAL CORPORATION OF MARION COUNTY(HHC)
Describe the Organization's Program Activity:
LIONS INSURANCE COMPANY IS A COMPONENT UNIT OF HEALTH AND HOSPITAL CORPORATION OF MARION COUNTY (HHC). HHC IS A MUNICIPAL ENTITY CREATED BY STATE STATUTE, INDIANA CODE SECTION 16-22-8 ET SEQ. LIONS INSURANCE COMPANY IS A PURE CAPTIVE INSURER ORGANIZED AS A NONPROFIT CORPORATION THAT PROVIDES INSURANCE AND REINSURANCE COVERAGE FOR HHC'S NURSING HOMES. DURING 2022 LIONS INSURANCE COMPANY CLOSED A TOTAL OF 28 CASES MADE BY OR ON BEHALF OF HHC NURSING HOME RESIDENTS. IN 6 OF THOSE CASES LIONS PAID TO SETTLE THE CLAIM. SETTLEMENT PAYMENTS TOTALED $719,002.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Babcock President (beg. 12/19/22) | OfficerTrustee | 5 | $0 |
Frances Brooke Dunn Treasurer (beg. 12/19/22) | OfficerTrustee | 5 | $0 |
Norman Aranda President (end 12/19/22) | OfficerTrustee | 20 | $0 |
Nichole Goddard Secretary (beg. 12/19/22) | OfficerTrustee | 5 | $0 |
Geeta Karnik Board Member (end 12/19/22) | Trustee | 1 | $0 |
Robert R Putnam Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Riley Bennett And Egloff Llp Legal Services | 12/30/22 | $491,455 |
Schultz And Pogue Llp Legal Services | 12/30/22 | $293,734 |
Kramer Levin Naftalis Frankel Llp Legal Services | 12/30/22 | $400,000 |
Faegre Drinker Biddle And Reath Llp Legal And Consulting | 12/30/22 | $345,905 |
Friedman Kaplan Seiler Adelman Legal Services | 12/30/22 | $447,500 |
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 | $6,732,285 |
| Investment income | $469,279 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,201,564 |
| 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 | $800,000 |
| Fees for services: Legal | $1,598,790 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| 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 | $0 |
| Total functional expenses | $3,934,816 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $36,347,167 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $36,549 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $36,383,716 |
| Accounts payable and accrued expenses | $223,500 |
| 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 | $26,477,719 |
| Total liabilities | $26,701,219 |
| Net assets without donor restrictions | $9,682,497 |
| 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 | $36,383,716 |