Cascadia Insurance Company Inc

Nonprofit profile at a glance

EIN
870757855
IRS 990 coverage
2012–2012
Forms available
Form 990 2012
Location
Bend, OR, USA
Phone
5413887701
Rating confidence
Limited
Sector
Insurance Providers

Reported finances

Revenue
$227,058
Expenses
$336,756
Assets
$5,711,832
Liabilities
$3,003,983

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

5 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The primary purpose for which this corporation is formed is to be a nonprofit captive insurance company pursuant to article 19 of chapter 431 of the Hawaii revised statutes, as amended. The corporation is organized and shall be operated exclusively for charitable purposes by supporting, benefitting or carrying out some or all of the purposes of st. Charles health system, inc. ("schs", fka cascade healthcare community, inc.) and other organizations that are controlled directly or indirectly by schs and that are non-profit 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.

What it reported doing in 2012

Losses, loss adjustment expenses and other related costs incurred for premiums written

Operating model

Revenue model
Earned-program. 79% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 60
  • Accountability: 37
  • Sustainability: 32
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 40%; rating input score 40; 14th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -48.3%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 16.96; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.53; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 82.2%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 2 of 5 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $244K in reported program spending
  • Leadership: top reported pay $678K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Money network: 1 filed money-flow record
  • Related organizations: 4 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Independent voting board scored 40/100.
  • Moderate — Accountability: Governance controls: 6 of 9 not reported.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.