Academic Physicians Insurancecompany
- Assets
- $82.0m
- Revenue
- $24.6m
- Investments
- $7.2m
- Employees
- 0
- Location
- Colchester, VT
- Founding
- 05/2007
- Data as of
- 06/2021
- EIN
- 20-4687937
Organization Overview
Academic Physicians Insurancecompany is located in Colchester, VT. The organization was established in 2007. According to its NTEE Classification (E02) the organization is classified as: Management & Technical Assistance, 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. Academic Physicians Insurancecompany 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 06/2021, Academic Physicians Insurancecompany generated $24.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.6% each year . All expenses for the organization totaled $14.4m during the year ending 06/2021. While expenses have increased by 2.8% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE COMPANY IS ORGANIZED AND OPERATED FOR THE EXCLUSIVE PURPOSE OF SUPPORTING THE UNIVERSITY OF OKLAHOMA & ITS AFFILIATED ENTITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMIC PHYSICIANS INSURANCE COMPANY PROVIDES COVERAGE TO MEDICAL PROFESSIONALS AND RELATED HOSPITAL ENTITIES OF THE UNIVERSITY OF OKLAHOMA , A TAX-EXEMPT ORGANIZATION. THE INSURANCE COVERAGES PROVIDED ASSIST THE UNIVERSITY AND HOSPITAL SYSTEM IN STABILIZING THEIR INSURANCE COSTS. THE UNIVERSITY OF OKLAHOMA IS OKLAHOMA'S PREMIER HIGHER EDUCATION INSTITUTION, AND WITH ITS RELATED HOSPITAL PARTNER, SERVES THE EDUCATIONAL AND HEALTH CARE NEEDS OF THE STATE AND SURROUNDING REGIONS. ACADEMIC PHYSICIANS INSURANCE COMPANY PROVIDES COVERAGE RELATED TO LIABILITY OF OVER 860 FACULTY PHYSICIANS, 737 RESIDENT PHYSICIANS, AND 899 STUDENTS, AS WELL AS A LARGE ACADEMIC HOSPITAL SYSTEM. COSTS ASSOCIATED WITH PROVIDING INSURANCE COVERAGES ARE IN FURTHERANCE OF THE ORGANIZATION'S TAX-EXEMPT PURPOSE OF SUPPORTING THE UNIVERSITY OF OKLAHOMA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Riskonnect Inc Claims System Services | 6/29/21 | $179,089 |
Med-iq Inc Online Education Services | 6/29/21 | $216,500 |
Marsh Management Services Inc Captive Management Services | 6/29/21 | $171,308 |
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 | $18,013,462 |
| Investment income | $1,556,662 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,003,275 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,573,399 |
| 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 | $165,719 |
| Fees for services: Legal | $76,576 |
| Fees for services: Accounting | $37,309 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $164,652 |
| Fees for services: Other | $2,654,653 |
| Advertising and promotion | $0 |
| Office expenses | $287,167 |
| Information technology | $89,387 |
| 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 | $155,943 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $14,363,331 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,437,517 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $756,769 |
| 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 | $84,947 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $63,237,187 |
| Investments—other securities | $7,200,244 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,265,568 |
| Total assets | $81,982,232 |
| Accounts payable and accrued expenses | $505,633 |
| 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 | $49,062,356 |
| Total liabilities | $49,567,989 |
| Net assets without donor restrictions | $0 |
| 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 | $32,414,243 |
| Total liabilities and net assets/fund balances | $81,982,232 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Massachusetts League Of Community Health Centers Inc Boston, MA | $29,437,679 | $42,298,063 |
Dartmouth-Hitchcock Health Lebanon, NH | $1,251,160,419 | $17,116,192 |
Sisters Of Providence Health System Inc Holyoke, MA | $0 | $32,166,513 |
Tufts Medicine Inc Burlington, MA | $334,551,155 | $530,151 |
New England Donor Services Inc Waltham, MA | $48,652,397 | $15,155,479 |
Academic Physicians Insurancecompany Colchester, VT | $81,982,232 | $24,573,399 |
Brooklyn Hospital Provider Brooklyn, NY | $47,725,309 | $10,026 |
Alliance Health Management Services Llc Southborough, MA | $2,006,491 | $4,982,711 |
F F Thompson Health System Inc Canandaigua, NY | $6,622,129 | $5,171,518 |
Hospice And Palliative Care Group Inc Lockport, NY | $1,207,807 | $3,978,189 |
Center For Medical Simulation Inc Charlestown, MA | $2,307,441 | $2,761,057 |
Rural Health Network Of Scny Inc Binghamton, NY | $2,345,985 | $2,339,333 |