Providers Insurance Corporation
- Assets
- $85.2m
- Revenue
- $19.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Honolulu, HI
- Founding
- 08/2003
- Data as of
- 06/2021
- EIN
- 71-0893000
Organization Overview
Providers Insurance Corporation, operating under the name A Captive Insurance Company, is located in Honolulu, HI. The organization was established in 2003. 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. A Captive 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 06/2021, A Captive Insurance Company generated $19.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.0% each year . All expenses for the organization totaled $20.3m during the year ending 06/2021. While expenses have increased by 14.6% 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Okabe Board Of Director, Treasurer | OfficerTrustee | 0.5 | $0 |
Charles R Ching Board Of Director, Chair | OfficerTrustee | 0.5 | $0 |
Melinda Ashton MD Bod, Vice Chair & Secretary | OfficerTrustee | 0.1 | $0 |
Guy Okano Board Of Dir.,president(pt Yr) | OfficerTrustee | 35 | $0 |
Deborah Boyd Bod, Vice President | OfficerTrustee | 1 | $0 |
Carrie Ann Tsutsui Assistant Treasurer | Officer | 0.5 | $0 |
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 | $19,368,084 |
| Investment income | $298,101 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $15,986 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,689,138 |
| 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 | $12,787 |
| Fees for services: Accounting | $46,848 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $42,411 |
| Fees for services: Other | $507,578 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $89 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $502 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,004,781 |
| All other expenses | $23 |
| Total functional expenses | $20,273,705 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $24,946,575 |
| 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 | $4,423,845 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $25,435,274 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,379,276 |
| Total assets | $85,184,970 |
| Accounts payable and accrued expenses | $96,300 |
| 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 | $70,110,892 |
| Total liabilities | $70,207,192 |
| Net assets without donor restrictions | $14,977,778 |
| 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 | $85,184,970 |
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Santa Barbara Cottage Hospital Foundation Santa Barbara, CA | $242,184,554 | $25,746,926 |
Collis P & Howard Huntington Memorial Hospital Trust Pasadena, CA | $514,343,312 | $111,327,591 |
Childrens Hospital & Research Center Foundation Oakland, CA | $371,253,333 | $25,107,510 |
Helix Electric Health And Welfare Insurance Trust San Diego, CA | $2,039,604 | $20,413,301 |
Providers Insurance Corporation Honolulu, HI | $85,184,970 | $19,689,138 |
Southern Calif Glaziers H&w Tr Fund Covina, CA | $29,114,155 | $20,946,347 |
Abc California Health Trust San Diego, CA | $8,208,446 | $18,293,053 |
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