Overview
What is Hills Insurance Company Inc CO Franciscan Alliance Inc?
Hills Insurance Company Inc, a wholly-owned subsidiary of Franciscan Alliance Inc, acts as a captive insurance company. Based in Mishawaka, Indiana, Franciscan Alliance Inc is a not-for-profit corporation that offers healthcare services in the communities it serves. The Sisters of St. Francis of Perpetual Adoration oversee its governance. The hospitals under Franciscan Alliance Inc's ownership and control are non-profit healthcare providers, dedicated to catering to the healthcare needs of local residents. The Hills Insurance Company provides self-insurance coverage for Franciscan Alliance Inc and its hospital affiliates, issuing professional and general liability, and other property and casualty insurance policies.
Is Hills Insurance Company Inc CO Franciscan Alliance Inc legitimate?
Hills Insurance Company Inc C/O Franciscan Alliance Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hills Insurance Company Inc C/O Franciscan Alliance Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Hills Insurance Company Inc CO Franciscan Alliance Inc?
Hills Insurance Company Inc, a subsidiary of Franciscan Alliance Inc, is organized and operated as a captive insurance company, issuing policies of professional and general liability, as well as various property and casualty insurances, to Franciscan Alliance and its affiliated hospitals. These hospitals, operated under the governance of the Sisters of St. Francis of Perpetual Adoration, are not-for-profit healthcare providers dedicated to meeting the healthcare needs of their respective communities. By providing self-insurance to Franciscan Alliance and its hospitals, the Hills Insurance Company enables these organizations to effectively manage their risks and focus on delivering quality healthcare services. The company's mission aligns with Franciscan Alliance's not-for-profit mission and supports the organization's commitment to serving the healthcare needs of the communities it operates in.
Who is the CEO of Hills Insurance Company Inc CO Franciscan Alliance Inc?
Kevin D Leahy is the Dir/Pres/Chair (As Of 11/2022) of Hills Insurance Company Inc C/O Franciscan Alliance Inc.
What is the revenue of Hills Insurance Company Inc CO Franciscan Alliance Inc?
Hills Insurance Company Inc C/O Franciscan Alliance Inc's revenue in 2022 was $29,753,708.
Who are the executives of Hills Insurance Company Inc CO Franciscan Alliance Inc and what are their salaries?
- Kevin D Leahy (Dir/Pres/Chair (As Of 11/2022)) [Trustee/Director]
- Daniel Conner (Vice President)
- Sister Jane Marie Klein (Director/Chair (Until 11/2022))
- Sister M Ann Kathleen Magiera (Director, Treasurer)
- Russell A Young (Director, Assistant Secretary)
- Sister Lethia Marie Leveille (Director, Secretary)
Where can I find the form 990 for Hills Insurance Company Inc CO Franciscan Alliance Inc?
The Hills Insurance Company Inc CO Franciscan Alliance Inc’s most recent form 990 was submitted in 2022 and can be accessed here
Mission Statement of Hills Insurance Company Inc CO Franciscan Alliance Inc
Hills Insurance Company Inc CO Franciscan Alliance Inc, a wholly-owned subsidiary of Franciscan Alliance, Inc., operates as a captive insurance company. Its primary mission is to issue policies of professional and general liability, as well as property and casualty insurances, to Franciscan Alliance, Inc. and its affiliates. The nonprofit organization, Franciscan Alliance, Inc., provides healthcare and related services to the communities it serves. Under the governance of the Sisters of St. Francis of Perpetual Adoration, this not-for-profit corporation aims to meet the healthcare needs of local residents through its hospitals, which are also not-for-profit healthcare providers. In order to protect and shield its member, Franciscan Alliance, Inc., and the hospitals under its control from potential liabilities, Hills Insurance Company Inc CO Franciscan Alliance Inc offers self-insurance coverage. By assuming this risk, the insurance company enables its member to focus on delivering essential healthcare services to the communities it serves.
Impact
This information is meant to be a general summary of Hills Insurance Company Inc CO Franciscan Alliance Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
The impact of Hills Insurance Company Inc CO Franciscan Alliance Inc is primarily focused on providing self-insurance to hospitals owned and/or controlled by its member, Franciscan Alliance, Inc. This arrangement allows Franciscan Alliance, a not-for-profit corporation dedicated to providing healthcare services to communities, to have access to professional and general liability insurance through its subsidiary, Hills Insurance Company. By offering these insurance coverages, Hills Insurance Company helps ensure that Franciscan Alliance and its affiliated hospitals are financially protected in case of unforeseen events or accidents. Overall, the impact of this arrangement is to support the sustainability and operational continuity of Franciscan Alliance's healthcare services for the benefit of the communities they serve.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PREMIUMS WRITTEN
Revenue
$22,090,815
PREPAID REINSURANCE
Revenue
$-5,811,250
CEDING COMMISSION REVENUE
Revenue
$136,000
Organization Details
Founding Year
2002
Phone
(574) 256-3935
Principal Officer
Kevin D Leahy
Main Address
1515 DRAGOON TRAIL, MISHAWAKA, IN, 46544
NTEE Category
Code: Y200 - Mutual benefit
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