Overview
What is Southern Oregon Insurance Inc?
Southern Oregon Insurance Inc is a nonprofit captive insurance company, established in Hawaii. Its primary purpose is to provide alternative risk financing options for its parent organization, while adhering to the requirements of Article 19 of Chapter 431 of the Hawaii Revised Statutes. The company is authorized to offer healthcare professional and general liability coverage on a claims-made basis. Beyond its insurance role, Southern Oregon Insurance Inc supports and benefits various non-private foundations, directly or indirectly controlled by Asante Health System, by upholding their charitable objectives, as outlined in Section 509 (A)(1) or (2) of the Internal Revenue Code of 1986, or corresponding sections in future tax codes.
Is Southern Oregon Insurance Inc legitimate?
Southern Oregon Insurance Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southern Oregon Insurance 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
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What is the mission statement of Southern Oregon Insurance Inc?
Southern Oregon Insurance Inc is established as a nonprofit captive insurance company, in accordance with Hawaii Revised Statutes. Its primary objective is to support, benefit, and carry out the charitable purposes of Asante Health System and its affiliated organizations. These organizations are controlled directly or indirectly by Asante Health System and fall under the category of non-private foundations, as per the Internal Revenue Code or corresponding sections of future federal tax codes. The corporation's activities are exclusively dedicated to furthering the goals of these affiliated organizations.
What is the revenue of Southern Oregon Insurance Inc?
Southern Oregon Insurance Inc's revenue in 2023 was $4,744,418.
Who are the executives of Southern Oregon Insurance Inc and what are their salaries?
There 2 volunteers at Southern Oregon Insurance Inc.
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $1,411,289
- Other: $33,733
- Compensation: $0
- Related: $762,111
- Other: $40,467
- Compensation: $0
- Related: $712,700
- Other: $41,116
- Compensation: $0
- Related: $282,465
- Other: $0
- Compensation: $0
- Related: $137,500
- Other: $7,875
- Compensation: $0
- Related: $93,215
- Other: $29,552
- 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 Southern Oregon Insurance Inc?
Southern Oregon Insurance Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Southern Oregon Insurance Inc
Southern Oregon Insurance Inc is established with a unique mission. As a nonprofit captive insurance company, it operates in accordance with Article 19 of Chapter 431 of the Hawaii Revised Statutes, amended. The primary purpose of this corporation is to support, benefit, and carry out the objectives of Asante, doing business as Asante Health System (AHS), and other affiliated organizations. These organizations are non-private foundations under Section 509(a)(1) or (2) of the Internal Revenue Code of 1986, as amended, or corresponding sections of any future federal tax code. By adhering to this mission, Southern Oregon Insurance Inc contributes to the charitable objectives of its affiliated entities, thereby ensuring they continue to provide essential services to their respective communities.
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Impact
October, 2024
Southern Oregon Insurance Inc plays a significant role in providing alternative risk financing options for its parent organization and affiliated entities. By operating as a pure captive insurance company, it offers tailored solutions for healthcare professional and general liability coverage on a claims-made basis. This structure enables efficient risk management, contributing to the financial stability of the organizations it supports, particularly those within the Asante Health System.
Based in Honolulu, Hawaii, Southern Oregon Insurance Inc enhances the capacity of its affiliates to manage and mitigate risks associated with their operations. Its focus on charitable purposes ensures that the benefits extend beyond just financial aspects, fostering a supportive environment for healthcare services to thrive in Southern Oregon. Through its specialized insurance services, the company ultimately bolsters the healthcare infrastructure, allowing organizations to focus more resources on delivering quality care to the community.
This information is meant to be a general summary of Southern Oregon Insurance 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 2023.
- Investment Income: $825,242
- Program Service Revenue: $3,294,053
- Gross Receipts: $25,677,651
Assets and Liabilities:
- Total Assets: $34,005,109
- Total Liabilities: $10,255,362
- Net Assets: $23,749,747
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PREMIUMS
Revenue
$3,294,053
Organization Details
Founding Year
2004
Principal Officer
Heather Rowenhorst
NTEE Category
Code: Y20 - Mutual benefit
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