University Of Chicago Self Insurance Trust
- Assets
- $366.1m
- Revenue
- $38.8m
- Investments
- $250.1m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 00/0000
- Data as of
- 06/2021
- EIN
- 36-3020034
Organization Overview
University Of Chicago Self Insurance Trust is located in Chicago, IL. The organization was established in 0000. 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. University Of Chicago Self Insurance Trust 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, University Of Chicago Self Insurance Trust generated $38.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $54.7m during the year ending 06/2021. 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
A SELF INSURANCE PROGRAM FOR THE PURPOSE OF SETTLING HEALTH CARE PATIENT CLAIMS ASSERTING PROFESSIONAL NEGLIGENCE AGAINST THE UNIVERSITY OF CHICAGO, THE UNIVERSITY OF CHICAGO MEDICAL CENTER, THEIR EMPLOYEES AND AGENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PAYMENTS FROM THE TRUST FOR SETTLING HEALTH CARE CLAIMS ASSERTING PROFESSIONAL NEGLIGENCE. OTHER PROGRAM SERVICE IF DONE DURING THE YEAR: EXCESS INSURANCE PREMIUMS FOR CLAIMS EXCEEDING THE SELF-INSURED RETENTION. MISCELLANEOUS EXPENSES RELATED TO THE PROGRAM FOR ACTUARIAL SERVICES AND OTHER MISCELLANEOUS EXPENSES.
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Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bartlit Beck Herman Palenchar Legal Fees | 6/29/21 | $2,647,939 |
Phillips Law Offices Legal Fees | 6/29/21 | $2,500,000 |
Brennan Burtker Llc Legal Fees | 6/29/21 | $2,111,551 |
Brustin & Lundblad Ltd Legal Fees | 6/29/21 | $1,500,000 |
Norton Rose Fulbright Us Llp Legal Fees | 6/29/21 | $1,208,333 |
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 | $20,466,633 |
| Investment income | $14,953,898 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,417,104 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $38,837,635 |
| 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 | $0 |
| Fees for services: Legal | $4,369,654 |
| 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 | $9,714 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,512,930 |
| All other expenses | $0 |
| Total functional expenses | $54,682,827 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $116,021,692 |
| Investments—other securities | $250,074,845 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $366,096,537 |
| Accounts payable and accrued expenses | $0 |
| 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 | $220,104,142 |
| Total liabilities | $220,104,142 |
| Net assets without donor restrictions | $145,992,395 |
| 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 | $366,096,537 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cooperative Welfare Benefits Fund West Des Moines, IA | $20,233,911 | $75,160,652 |
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 |