Millcreek Health System Medical Professional Liability Self-Ins Tr is located in Erie, PA. The organization was established in 2004. According to its NTEE Classification (E80) the organization is classified as: Health (General & Financing), 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. Millcreek Health System Medical Professional Liability Self-Ins Tr 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, Millcreek Health System Medical Professional Liability Self-Ins Tr generated $1.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $906.1k during the year ending 06/2021. While expenses have increased by 13.5% 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
TO PROVIDE MANDATORY PROFESSIONAL LIABILITY COVERAGE TO AFFILIATED ORGANIZATIONS THAT ARE EXEMPT UNDER SECTION 501(C)(3).
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED MANDATORY PROFESSIONAL LIABILITY COVERAGE TO AFFILIATED ORGANIZATIONS THAT ARE EXEMPT UNDER SEC. 501(C)(3). THERE WAS A TOTAL OF $824,406 PAID IN LIABILITY CLAIMS DURING THE FISCAL YEAR ENDED JUNE 30, 2021.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
John M Ferretti DO President/ceo | OfficerTrustee | 1 | $0 |
Richard P Olinger Secretary/treasurer | OfficerTrustee | 1 | $0 |
Steven G Inman CPA Cgma VP Fiscal Affairs/cfo | Officer | 1 | $0 |
Anthony John Ferretti DO Trustee | Trustee | 1 | $0 |
Mary L Eckert Trustee | Trustee | 1 | $0 |
Vincent S Fierro DO Trustee | Trustee | 1 | $0 |
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 | $0 |
Investment income | $429,457 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $1,271,361 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,700,818 |
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 | $0 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $81,665 |
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 | $824,406 |
Total functional expenses | $906,071 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $1,036,279 |
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 | $25,419,833 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $66,065 |
Total assets | $26,522,177 |
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 | $0 |
Total liabilities | $0 |
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 | $26,522,177 |
Total liabilities and net assets/fund balances | $26,522,177 |
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United Food & Comm Wkrs Union Local 1262 & Employers Welfare Fund Clifton, NJ | $25,277,473 | $87,753,687 |
Delta Dental Of Delaware Inc Mechanicsburg, PA | $18,629,043 | $77,257,162 |
Wholesalers Group Life And Health Benefit Plan Trust Dayton, OH | $7,139,163 | $56,286,491 |
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Inspira Health Network Life Inc Vineland, NJ | $17,203,909 | $29,584,528 |
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Retiree Health And Welfare Fund Of The Police Benevolent Association New York, NY | $171,668,298 | $54,323,145 |
Local 298 Health Benefit Fund I Valley Stream, NY | $21,565,304 | $24,797,848 |
Delta Dental Plan Of West Virginia Inc Mechanicsburg, PA | $18,350,283 | $22,759,004 |
Detectives Endowment Association Retirees Health Benefits Fund New York, NY | $3,766,379 | $20,182,671 |
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