Bifurcated System Resource Risk Retention Group Inc

Nonprofit profile at a glance

EIN
883919275
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Trenton, NJ, USA
Phone
6092785415
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Insurance Providers

Reported finances

Revenue
$1,414,760
Expenses
$1,320,484
Assets
$3,527,585
Liabilities
$2,038,568

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • STEPHEN A MILLER JD (PRESIDENT - DIRECTOR)
  • VIRGINIA ADRIHAN (VICE PRESIDENT - DIRECTOR)

Highest reported compensation

  • SHANE F FLEMING CPA (TREASURER - DIRECTOR): $1,902,897 total reported compensation
  • STEPHEN A MILLER JD (PRESIDENT - DIRECTOR): $1,207,327 total reported compensation
  • RAFAEL VILLALOBOS (SECRETARY - DIRECTOR): $479,272 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Operates as a risk retention group under the federal liability risk retention act of 1986 to the capital health system, inc. And affiliates; an irc section 501(c)(3) tax-exempt integrated healthcare delivery system.

What it reported doing in 2024

Expenses incurred in Operating as a risk retention group under the Federal Liability Risk Retention Act of 1986 to CAPITAL HEALTH SYSTEM, INC. and affiliates; an IRC Section 501(c)(3) tax-exempt integrated healthcare delivery system.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of voting board members are independent and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 88
  • Accountability: 56
  • Sustainability: 53
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.6%; rating input score 70
  • Program expense ratio: 74.9%; rating input score 75
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 25%; rating input score 25; 10th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6.7%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 2.67; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.58; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 8.6%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 104.2% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 55.7% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 31% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 69.6% of revenue deployed · 74.9% of spending went to programs
  • Governance: 1 of 4 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $989K in reported program spending
  • Leadership: top reported pay $1.9M · 4 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $232K reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 10 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 25/100.
  • Review — Sustainability: Operating margin scored 54/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.