Paradigm Indemnity Corporation

Organization Overview

Paradigm Indemnity Corporation is located in Corvallis, OR. The organization was established in 2005. 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. Paradigm Indemnity Corporation 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 12/2021, Paradigm Indemnity Corporation generated $10.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $7.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

DIRECTLY INSURES FOR PROFESSIONAL AND GENERAL LIABILITY COVERAGE FOR SHS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

AS A PURE NON-PROFIT CAPTIVE INSURANCE COMPANY, PARADIGM INDEMNITY CORPORATION (PIC) DIRECTLY INSURES HOSPITAL'S AND PHYSICIAN'S PROFESSIONAL LIABILITY AND GENERAL LIABILITY COVERAGE. THIS COVERAGE INCLUDES FIVE ACUTE CARE FACILITIES, THREE IN THE WILLAMETTE VALLEY AND TWO ON THE OREGON COAST. INCLUDED IN THIS INSURANCE IS COVERAGE FOR THE FOLLOWING EMPLOYED OR CONTRACTED PRACTITIONERS: 492 PHYSICIANS, 85 PHYSICIAN ASSISTANTS, 52 NURSE PRACTITIONERS, 17 CRNAS, 9 NURSE MIDWIVES, AND 23 OTHER HEALTH PROFESSIONALS. THESE EXPENSES ARE INCURRED TO SUPPORT THE PROGRAM.


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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$9,219,269
Investment income $1,300,600
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $365,332
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $10,885,201

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