Lions Insurance Company

Nonprofit profile at a glance

EIN
204372643
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Indianapolis, IN, USA
Phone
3172212267
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$9,221,965
Expenses
$4,991,701
Assets
$46,290,744
Liabilities
$26,531,412

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

Leadership & pay

5 people listed

Executive titles in this filing

  • PAUL BABCOCK (PRESIDENT)

Highest reported compensation

  • PAUL BABCOCK (PRESIDENT): $437,486 total reported compensation
  • NICHOLE GODDARD (SECRETARY): $372,648 total reported compensation
  • JAMES SIMPSON (TREASURER): $281,807 total reported compensation

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

Overview

Mission

To provide insurance covering the professional (malpractice) and general liability exposures of the nursing homes operated by health and hospital corporation of marion county (hhc); to provide tail coverage relating to potential exposure for professional and general claims incurred prior to the inception of lions insurance company.

What it reported doing in 2024

Lions insurance company is a component unit of health and hospital corporation of marion county (hhc). Hhc is a municipal entity created by state statute, Indiana code section 16-22-8 et seq. Lions insurance company is a pure captive insurer organized as a nonprofit corporation that provides insurance and reinsurance coverage for hhc's nursing homes.

Operating model

Revenue model
Other-operating. 77% of the money available for current operations came from other operating 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 64
  • Accountability: 51
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.2%; rating input score 62
  • Program expense ratio: 93.5%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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; 7th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 45.9%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 9.27; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.57; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 4.5%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: 0.2% per year; rating input score 100; 14th percentile among comparable filings
  • Revenue growth: 7.3% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 7.7% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 62.2% of revenue deployed · 93.5% of spending went to programs
  • Governance: 2 of 5 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4.7M in reported program spending
  • Leadership: top reported pay $437K · 5 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $902K reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.