Overview
What is Lokahi Assurance Ltd?
Lokahi Assurance Ltd is a supporting organization based in Oakland, California, specifically located at One Kaiser Plaza, 26th Floor. Established to aid Kaiser Foundation Health Plan Inc and its subsidiaries, this nonprofit organization serves as a financial resource for handling professional and general liability, managed care liability, as well as risks related to pandemics, terrorism, cyber security, and earthquakes.
What are the reviews and ratings of this charity?
Charity Navigator Rating 64% - Two-Star out of Four Star Rating
Lokahi Assurance Ltd has received a Two-Star rating from Charity Navigator, reflecting a score of 64%. This rating indicates that while the organization demonstrates some strengths in governance and financial oversight, there are significant areas of concern, particularly regarding board independence and transparency.
The organization has scored well in specific areas such as its financial statements and conflict of interest policies, showing a commitment to ethical management. However, it has notably failed to secure scores for independent board member representation and the posting of financial documents on its website, which raises questions about governance practices and accountability to stakeholders.
Overall, while Lokahi Assurance Ltd exhibits solid financial management practices in certain aspects, the lack of independent oversight and transparency in document sharing could limit its effectiveness and trustworthiness in the eyes of potential donors and the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Lokahi Assurance Ltd legitimate?
Lokahi Assurance Ltd is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lokahi Assurance Ltd 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: $15,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Lokahi Assurance Ltd?
Lokahi Assurance Ltd functions as a supporting organization, collaborating with Kaiser Foundation Health Plan Inc and its subsidiaries. Its primary objective is to facilitate financing for various liabilities. Specifically, it focuses on professional and general liability, workers' compensation, managed care, pandemic, terrorism, cyber security, and earthquake exposures. The organization's role is crucial in managing risks and ensuring financial stability for the healthcare entities it supports.
Who is the CEO of Lokahi Assurance Ltd?
Martin T King is the Principal Officer of Lokahi Assurance Ltd.
What is the revenue of Lokahi Assurance Ltd?
Lokahi Assurance Ltd's revenue in 2022 was $523,344,731.
Who are the executives of Lokahi Assurance Ltd and what are their salaries?
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $5,101,508
- Other: $61,868
- Compensation: $0
- Related: $1,466,903
- Other: $207,776
- Compensation: $0
- Related: $1,614,705
- Other: -$90,086
- Compensation: $0
- Related: $424,603
- Other: -$48,914
- Compensation: $0
- Related: $471,975
- Other: -$113,514
- Compensation: $0
- Related: $271,710
- Other: -$11,816
- Compensation: $11,000
- Related: $0
- Other: $0
- Compensation: $4,000
- Related: $0
- Other: $0
Where can I find the form 990 for Lokahi Assurance Ltd?
Lokahi Assurance Ltd's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lokahi Assurance Ltd
Lokahi Assurance Ltd, a supporting organization, was established with a mission to financially support Kaiser Foundation Health Plan Inc and its subsidiaries. This organization serves as a crucial partner, helping to manage various risks and exposures.
More specifically, Lokahi Assurance Ltd focuses on providing a funding solution for professional and general liability, workers' compensation liability, managed care liability, as well as pandemic, terrorism, cyber security, and earthquake exposures. By doing so, it ensures that Kaiser Foundation Health Plan Inc and its subsidiaries can effectively manage their risks and mitigate potential financial losses.
As a supporting organization, Lokahi Assurance Ltd plays a vital role in safeguarding the financial stability of Kaiser Foundation Health Plan Inc and its subsidiaries. Its mission is to create a robust financial framework that enables these organizations to focus on their core operations and pursue their goals, while minimizing the impact of unforeseen risks and exposures.
In essence, Lokahi Assurance Ltd acts as a financial backbone, allowing Kaiser Foundation Health Plan Inc and its subsidiaries to operate with confidence and assurance, knowing that their financial risks are well managed.
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Impact
October, 2024
Lokahi Assurance Ltd significantly impacts the healthcare sector by providing essential financial support and risk management solutions for Kaiser Foundation Health Plan Inc and its subsidiaries. The organization focuses on financing various types of liabilities, including professional and general liability, workers' compensation, and managed care liabilities. Moreover, it addresses critical risks posed by pandemic events, terrorism, cyber security threats, and potential earthquake exposures.
By mitigating these liabilities, Lokahi Assurance Ltd enables Kaiser and its affiliates to operate more effectively and focus on delivering quality healthcare services. This assurance allows healthcare providers to allocate more resources to patient care and innovation while ensuring that they are adequately protected against unforeseen risks. Consequently, Lokahi Assurance plays a pivotal role in enhancing the stability and resilience of the health system in Oakland and beyond.
This information is meant to be a general summary of Lokahi Assurance Ltd. 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: $112,996,085
- Program Service Revenue: $410,348,646
- Gross Receipts: $716,129,582
Assets and Liabilities:
- Total Assets: $2,969,153,307
- Total Liabilities: $2,524,678,261
- Net Assets: $444,475,046
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PREMIUMS EARNED
Revenue
$410,348,646
Organization Details
Founding Year
2002
Phone
(510) 271-6611Principal Officer
Martin T King
Main Address
ONE KAISER PLAZA - 26TH FLOOR, OAKLAND, CA, 94612
NTEE Category
Code: Y200 - Mutual benefit
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