Overview
What is Academic Partners Insurance Company?
Academic Partners Insurance Company is a nonprofit organization based in Colchester, Vermont, specifically located at 463 Mountain View Drive 301, with a ZIP code of 05446. The company's primary mission is to support the University of Oklahoma and its affiliated entities by providing professional, general, and other insurance coverages. This organization, which operates exclusively for this purpose, is instrumental in helping the university and hospital system manage their insurance costs. The University of Oklahoma is a leading higher education institution in the state, renowned for its academic, educational, research, clinical care, and indigent care missions. Academic Partners Insurance Company's insurance coverage extends to 1040 faculty physicians, 770 resident physicians, 1196 mid-levels, 934 students, and a large academic hospital system. The costs associated with these insurance coverages align with the organization's tax-exempt purpose of advancing the University of Oklahoma's academic and educational endeavors.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 56% (One-Star out of Four Stars)
Academic Partners Insurance Company has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its governance and financial accountability. The organization scored poorly in areas related to board independence, with no independent members on its board, which raises potential issues about oversight and decision-making. The lack of a whistleblower policy and missing documentation related to website transparency further contribute to the low rating.
Despite these challenges, the organization does excel in specific financial metrics, notably achieving a high program expense ratio of 94.19%, indicating that a substantial portion of its spending is directed toward its stated mission. Additionally, it has received full points for its audit and oversight committee, reflecting a commitment to financial integrity in certain aspects. However, the overall governance weaknesses overshadow these strengths.
Overall, while Academic Partners Insurance Company demonstrates a strong commitment to its programs, the lack of independent oversight and transparency measures presents significant concerns for potential donors and stakeholders. These factors highlight the need for improvement in governance practices to build trust and accountability within the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Academic Partners Insurance Company legitimate?
Academic Partners Insurance Company is a legitimate nonprofit organization registered as a 501(c)(3) entity. Academic Partners Insurance Company 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 Academic Partners Insurance Company?
Academic Partners Insurance Company is established with the sole intention of supporting the University of Oklahoma and its affiliated entities. Its mission is to contribute to the academic, educational, research, clinical care, and indigent care endeavors of the University and its affiliates. Consequently, the company's services are confined to providing professional, general, and other insurance coverage and related services to these organizations. By doing so, it ensures the continued growth and success of their important missions. The company's commitment to the University and its affiliates goes beyond just insurance, as it plays an essential role in fostering their achievements and advancements.
Who is the CEO of Academic Partners Insurance Company?
Unavailable
What is the revenue of Academic Partners Insurance Company?
Academic Partners Insurance Company's revenue in 2022 was $17,508,656.
Who are the executives of Academic Partners Insurance Company and what are their salaries?
Here are 15 key members and their salaries:
- Compensation: $0
- Related: $687,605
- Other: $84,297
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $542,634
- Other: $88,686
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $894,469
- Other: $100,083
- Compensation: $0
- Related: $842,773
- Other: $22,365
- Compensation: $0
- Related: $1,686,275
- Other: $72,261
- Compensation: $0
- Related: $1,320,675
- Other: $68,631
- Compensation: $0
- Related: $742,170
- Other: $19,510
- Compensation: $0
- Related: $571,110
- Other: $118,441
- Compensation: $0
- Related: $473,849
- Other: $65,599
- Compensation: $0
- Related: $485,785
- Other: $98,297
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $401,473
- Other: $26,808
- Compensation: $0
- Related: $172,944
- Other: $12,883
Where can I find the form 990 for Academic Partners Insurance Company?
Academic Partners Insurance Company's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Academic Partners Insurance Company
Academic Partners Insurance Company, a unique organization, is dedicated to exclusively supporting the University of Oklahoma and its affiliated entities. Its primary objective is to further the academic, educational, research, clinical care, and indigent care missions of the University and its affiliates.
To accomplish this, Academic Partners Insurance Company offers professional, general, and other insurance coverage and related services. By doing so, it ensures the protection and wellbeing of the University and its affiliated entities as they pursue their important goals.
The commitment of Academic Partners Insurance Company to its mission is unwavering. It is an essential partner in the University of Oklahoma's community, providing vital resources that enable the institution to thrive and grow. Through its specialized insurance services, the company contributes significantly to the University's ability to manage risks and maintain its operational excellence. In turn, the University can continue to provide a top-tier educational experience and conduct groundbreaking research for the benefit of its students and the wider community.
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Impact
October, 2024
Academic Partners Insurance Company plays a critical role in supporting the University of Oklahoma and its affiliated entities by providing essential insurance coverage tailored for medical professionals and healthcare facilities. By focusing on this sector, the company helps stabilize insurance costs, which is vital for the university and its associated hospital system, ensuring that they can continue to fulfill their educational and healthcare missions effectively.
The company's impact extends to covering nearly 3,000 medical professionals, including faculty physicians, resident physicians, and mid-level providers, as well as students involved in clinical training. This coverage not only reduces financial risk but also enhances the quality of clinical education and care provided in the region. By managing liability risks, Academic Partners Insurance Company enables the University of Oklahoma to concentrate on its premier role as a higher education institution, meeting the educational and healthcare needs of the state and surrounding areas.
Through its operations, the company reinforces the vital connection between insurance services and the mission of the university, ensuring that both educational and healthcare objectives are met while promoting stability in the face of ever-evolving challenges in the healthcare landscape.
This information is meant to be a general summary of Academic Partners Insurance Company. 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: $349,636
- Program Service Revenue: $17,158,184
- Gross Receipts: $65,652,944
Assets and Liabilities:
- Total Assets: $67,974,959
- Total Liabilities: $49,628,666
- Net Assets: $18,346,293
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PREMIUMS EARNED
Revenue
$17,158,184
Organization Details
Founding Year
2006
Phone
(802) 864-2744Main Address
463 Mountain View Drive 301, Colchester, VT, 05446
NTEE Category
Code: E02 - Health
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