Land Of Lincoln Mutual Health Insurance Company
- Assets
- $14.1m
- Revenue
- $153.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 11/2013
- Data as of
- 12/2022
- EIN
- 90-0962741
Organization Overview
Land Of Lincoln Mutual Health Insurance Company is located in Chicago, IL. The organization was established in 2013. 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.
For the year ending 12/2022, Land Of Lincoln Mutual Health Insurance Company generated $153.1k in total revenue. All expenses for the organization totaled $295.5k during the year ending 12/2022.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE CO-OP WAS TO PROVIDE ITS MEMBERS HIGH QUALITY HEALTHCARE WHILE LOWERING THEIR COSTS THROUGH A MOVEMENT TOWARDS CLINICAL INTEGRATION AND CARE EFFICIENCIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PURSUANT TO THE ORDER OF LIQUIDATION LAND OF LINCOLN CONTINUED EVALUATING CLAIMS OF ITS MEMBERS NOT COVERED BY THE ILLINOIS LIFE AND HEALTH GUARANTY ASSOCIATION (ILHGA) AND OTHER CREDITORS. ON JULY 15, 2022, THE CIRCUIT COURT OF COOK COUNTY, ILLINOIS (SUPERVISING COURT) APPROVED A 100% FIRST AND FINAL DISTRIBUTION ON ALL CLAIMS ALLOWED FOR DISTRIBUTION AT STATUTORY PRIORITY LEVEL D (POLICYHOLDER CLAIMS) OF 215 ILCS 5/205(1) OF THE ILLINOIS INSURANCE CODE IN THE AMOUNT OF $24,498.34 FOR PURPOSES OF THE SECOND CLAIM FILING DEADLINE AND A 100% FIRST AND FINAL DIVIDEND ON ALL CLAIMS ALLOWED FOR DISTRIBUTION AT STATUTORY PRIORITY LEVEL G (GENERAL CREDITOR CLAIMS) OF 215 ILCS 5/205(1) OF THE ILLINOIS INSURANCE CODE IN THE AMOUNT OF $31,361.63 FOR PURPOSES OF THE SECOND CLAIM FILING DEADLINE. PAYMENT OF THESE CLAIMS WAS SUBSEQUENTLY MADE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Baldwin Director Of Receivership Operations | Officer | 0 | $0 |
Jacob Stuckey Special Deputy Receiver | Officer | 0 | $0 |
Michael Cosentino Chief Reinsurance And Technology Officer | Officer | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Catamaran Pbm Of Illinois Inc Pharmacy Benefit Management Services | 12/30/15 | $30,879,095 |
Mchc - Service Corporation Membership And Service Organization | 12/30/15 | $13,356,135 |
Valence Health Inc Technology Solutions | 12/30/15 | $10,665,094 |
Beecher Carlson Insurance Services Llc Risk Management | 12/30/15 | $4,348,502 |
Multiplan Inc Cost Management Services | 12/30/15 | $1,210,198 |
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 | $0 |
| Investment income | $155,924 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,828 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $153,096 |
| 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 | $17,590 |
| Compensation of current officers, directors, key employees. | $2,455 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $99,441 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $30,895 |
| Payroll taxes | $49,989 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5 |
| Fees for services: Accounting | $15,594 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,794 |
| Fees for services: Other | $9,354 |
| Advertising and promotion | $0 |
| Office expenses | $2,924 |
| Information technology | $35,269 |
| Royalties | $0 |
| Occupancy | $19,900 |
| Travel | $302 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,600 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $295,535 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,684 |
| Savings and temporary cash investments | $13,373,125 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $63,381 |
| 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 | $632,102 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,078,292 |
| 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 | $1,737,163 |
| Total liabilities | $1,737,163 |
| 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 | $162,161,087 |
| Retained earnings, endowment, accumulated income, or other funds | -$149,819,958 |
| Total liabilities and net assets/fund balances | $14,078,292 |