Ochsner System Protection Company

Nonprofit profile at a glance

EIN
271170999
IRS 990 coverage
2014–2019
Forms available
Form 990 2019
Location
New Orleans, LA, USA
Phone
5048424097
Rating
23
Verdict
REVIEW
Rating confidence
Moderate
Sector
Insurance Providers

Official website

Reported finances

Revenue
$1,169
Expenses
$13,417
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

5 people listed

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

None. There is no board adopted mission statement.

What it reported doing in 2019

Acts as a pure captive insurance company by providing commercial property insurance for Ochsner Clinic Foundation (TIN# 72-0502505), a related 501(c)(3) company. While OSPC did not write new policies in 2020, it may issue policies to related 501(c)(3) organizations in the future.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The strongest available result is that the filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 58
  • Accountability: 28
  • Sustainability: 3
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 11th 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: 0%; rating input score 0; 8th 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: -1,047.7%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 490.8%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -86.2% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -85.4% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -50.4% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 5 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $5.1M · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 40 of 41 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2014 to 2019
  • Contacts: How to reach this organization
  • Related organizations: 11 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.