Overview
What is Hills Insurance Company Inc C/O 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.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% - Three-Star out of Four Star Rating
Hills Insurance Company Inc (CO Franciscan Alliance Inc) has received a Three-Star rating from Charity Navigator, reflecting a solid performance primarily in Accountability & Finance with a score of 79%. This rating indicates that the organization has met many of the key benchmarks expected of nonprofits in these areas, signifying a commitment to transparency and fiscal responsibility.
The organization demonstrates strong governance practices with 80% of its board members being independent, ensuring impartial oversight. Additionally, it has a comprehensive approach to financial management, highlighted by a high program expense ratio of 96.50%, which indicates that a significant portion of its resources is directed toward its mission. The presence of policies for conflict of interest, whistleblower protections, and document retention further underscores its commitment to good governance.
However, the organization’s liabilities to assets ratio is relatively high at 69.95%, which may raise concerns regarding its financial leverage and potential risks. While the overall accountability measures are commendable, this financial aspect suggests that there may be challenges in managing debt or financial obligations that could impact future operations.
This AI summary has been generated from information found on Charity Navigator.
Is Hills Insurance Company Inc C/O 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Hills Insurance Company Inc C/O 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 C/O 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 C/O 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 C/O Franciscan Alliance Inc and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $2,085,355
- Other: -$100,816
- Compensation: $0
- Related: $414,183
- Other: $35,457
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Hills Insurance Company Inc C/O Franciscan Alliance Inc?
Hills Insurance Company Inc C/O Franciscan Alliance Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hills Insurance Company Inc C/O 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.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Hills Insurance Company Inc, operating as a wholly-owned subsidiary of Franciscan Alliance Inc, plays a crucial role in providing self-insurance solutions for hospitals managed by Franciscan Alliance. By offering professional and general liability insurance alongside other property and casualty coverage, Hills Insurance significantly enhances the financial stability and operational efficiency of its member hospitals.
This self-insurance model allows for tailored insurance solutions that address the specific risks associated with healthcare provision, ensuring that the hospitals can focus on delivering vital healthcare services to their communities. In doing so, Hills Insurance contributes to the overarching mission of Franciscan Alliance to meet the healthcare needs of area residents, reinforcing the quality, accessibility, and reliability of healthcare in the regions served.
Moreover, the governance under the Sisters of St. Francis of Perpetual Adoration emphasizes a mission-driven approach, aligning insurance services with the fundamental values of care and community service. This synergy not only fosters a sustainable financial foundation for hospital operations but also supports a commitment to high-quality healthcare outcomes for the populations served by the Franciscan Alliance network.
This information is meant to be a general summary of Hills Insurance Company Inc C/O Franciscan Alliance Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
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.
- Investment Income: $13,338,143
- Program Service Revenue: $16,415,565
- Gross Receipts: $130,399,394
Assets and Liabilities:
- Total Assets: $209,929,373
- Total Liabilities: $146,885,527
- Net Assets: $63,043,846
Want to help this charity, for free? You can click here to learn more about Give Freely
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) 256-3935Principal Officer
Kevin D Leahy
Main Address
1515 DRAGOON TRAIL, MISHAWAKA, IN, 46544
NTEE Category
Code: Y200 - Mutual benefit
If you are a representative of Hills Insurance Company Inc C/O Franciscan Alliance Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.