Overview
What is Paradigm Indemnity Corporation?
Paradigm Indemnity Corporation is a non-profit captive insurance company based in Oregon. Established by Samaritan Health Services (SHS), a 501(c)(3) parent organization, it directly insures hospitals and physicians under SHS for their professional and general liability coverage. The company supports five acute care facilities, three in the Willamette Valley and two on the Oregon Coast. It covers a workforce consisting of 502 physicians, 80 physician assistants, 49 nurse practitioners, 27 CRNAs, 8 nurse midwives, and 23 other health professionals. Paradigm Indemnity Corporation is an integral part of the SHS System, a local network of hospitals and physicians serving approximately 290,000 residents in Linn, Benton, Lincoln, and portions of Polk and Marion Counties in Oregon. The mission of SHS is "Building Healthier Communities Together," and the collective vision is to serve their communities with pride, demonstrating passion, respect, integrity, dedication, and excellence.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Star Rating) from Charity Navigator.
Paradigm Indemnity Corporation has received an overall score of 86%, primarily reflecting its strong performance in the category of Accountability & Finance. The charity has achieved a high score in key financial metrics, indicating effective management of resources and a commitment to transparency. Factors such as a solid program expense ratio of 88.06% signify that a significant portion of its funds is allocated to programs rather than administrative costs.
The organization demonstrates a commitment to governance, with 42% of its board members being independent, which is essential for reducing potential conflicts of interest. Moreover, it maintains robust policies, including those for conflict of interest, whistleblowing, and document retention, all of which received top scores. The presence of an Audit and Oversight Committee further enhances its accountability framework.
However, while the financial metrics are strong, the relatively low percentage of independent board members may raise questions about the diversity of perspectives in governance. Overall, Paradigm Indemnity Corporation appears to be a well-managed nonprofit with a focus on financial integrity and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Paradigm Indemnity Corporation legitimate?
Paradigm Indemnity Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Paradigm Indemnity Corporation 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 Paradigm Indemnity Corporation?
Paradigm Indemnity Corporation (PIC) serves as the in-house insurance company for Samaritan Health Services (SHS), a non-profit network of hospitals and physicians. PIC provides professional and general liability coverage for SHS-affiliated entities. Formed by a 501(c)(3) parent organization, PIC is a member of the SHS system, which aims to build healthier communities together. The SHS mission is to deliver healthcare services regardless of race, color, creed, sex, national origin, disability, or age. The collective vision of the SHS system encompasses passion, respect, integrity, dedication, and excellence. PIC's role is integral to the SHS network's functioning and commitment to serving their communities.
Who is the CEO of Paradigm Indemnity Corporation?
Douglas Boysen is the Board Chair / Ceo Shs of Paradigm Indemnity Corporation. The CEO's salary of Paradigm Indemnity Corporation is $0 and their total compensation is $21,935.
What is the revenue of Paradigm Indemnity Corporation?
Paradigm Indemnity Corporation's revenue in 2022 was $14,788,703.
Who are the executives of Paradigm Indemnity Corporation and what are their salaries?
There 3 volunteers at Paradigm Indemnity Corporation.
Here are 8 key members and their salaries (Paradigm Indemnity Corporation's CEO's salary is $0 and their total compensation is $21,935):
- Compensation: $0
- Related: $1,512,954
- Other: $64,413
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $21,935
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $496,145
- Other: $62,767
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $645,515
- Other: $57,529
- Compensation: $0
- Related: $638,044
- Other: $63,937
Where can I find the form 990 for Paradigm Indemnity Corporation?
Paradigm Indemnity Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Paradigm Indemnity Corporation
Paradigm Indemnity Corporation (PIC), a non-profit captive insurance company, is a key component of Samaritan Health Services (SHS). This organization, established by a 501(c)(3) parent organization, directly insures SHS-affiliated entities for professional and general liability coverage.
As part of the SHS system, a regional network of hospitals and physicians, PIC plays a vital role in supporting SHS's mission to provide healthcare services to communities regardless of race, color, creed, sex, national origin, disability, or age. The collective vision of the SHS system is to serve their communities with pride, embodied by passion, respect, integrity, dedication, and excellence.
Capitalizing on its membership within the SHS system, Paradigm Indemnity Corporation ensures that SHS-affiliated entities are adequately protected in their operations. By directly underwriting insurance policies, PIC enables SHS to focus on its primary mission of delivering quality healthcare to their communities. In doing so, the corporation fortifies the financial stability and risk management of its affiliated entities, allowing them to concentrate on their essential role in improving the health and well-being of their clientele.
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Impact
October, 2024
Paradigm Indemnity Corporation (PIC) significantly impacts the healthcare landscape by providing essential professional and general liability insurance to a network of hospitals and healthcare practitioners. Serving five acute care facilities, including three in the Willamette Valley and two on the Oregon Coast, PIC ensures that a broad range of healthcare professionals—including 502 physicians, 80 physician assistants, 49 nurse practitioners, 27 certified registered nurse anesthetists (CRNAs), and other healthcare providers—are covered under its liability policies.
By directly insuring these professionals and institutions, PIC enhances the stability and security of healthcare services within its regional network, which serves approximately 290,000 residents across Linn, Benton, Lincoln, and parts of Polk and Marion counties in Oregon. This coverage fosters a reliable environment for practitioners to deliver care without the constant worry of liability claims, ultimately benefiting the communities they serve.
Furthermore, as a local entity governed by healthcare leaders and community representatives, PIC aligns its operations with the values and mission of Samaritan Health Services, striving to build healthier communities. Its role in safeguarding healthcare entities contributes to the overall efficiency and effectiveness of the healthcare system in the region, promoting accessible and high-quality medical services for all individuals, regardless of their background or circumstances.
This information is meant to be a general summary of Paradigm Indemnity Corporation. 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: $302,108
- Program Service Revenue: $14,486,595
- Gross Receipts: $43,859,780
Assets and Liabilities:
- Total Assets: $66,739,436
- Total Liabilities: $21,117,000
- Net Assets: $45,622,436
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PREMIUM REVENUE
Revenue
$9,611,595
REINSURANCE RECOVERY
Revenue
$4,875,000
Organization Details
Founding Year
2003
Phone
(541) 768-4857Principal Officer
Douglas Boysen
Main Address
CO SHS ACCOUNTING PO BOX 3000, CORVALLIS, OR, 973393000
NTEE Category
Code: Y200 - Mutual benefit
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