Paradigm Indemnity Corporation
Nonprofit profile at a glance
- EIN
- 731668317
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024
- Location
- Corvallis, OR, USA
- Phone
- 5417684857
- Rating
- 66
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Insurance Providers
Reported finances
- Revenue
- $13,222,332
- Expenses
- $11,422,602
- Assets
- $60,015,158
- Liabilities
- $17,825,115
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- DOUGLAS BOYSEN (BOARD CHAIR / CEO SHS)
Highest reported compensation
- DOUGLAS BOYSEN (BOARD CHAIR / CEO SHS): $1,407,871 total reported compensation
- ROBERT TURNGREN MD (BRD MBR / SVP CHIEF PHYS EXEC): $713,437 total reported compensation
- DANIEL SMITH (TREASURER / SVP CFO SHS): $688,921 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Paradigm indemnity corporation (pic) is a pure non-profit captive insurance company formed by 501(c)(3) parent organization samaritan health services (shs). Pic directly insures for professional and general liability coverage for shs-related affiliates. Paradigm indemnity corporation (pic) is a member of the shs system, a regional network of hospitals and physicians. The network, formed in the late 1990's, serves approximately 290,000 residents in linn, benton, lincoln and portions of polk and marion counties in Oregon. It is locally owned, and its boards of directors include hospital leaders, physicians and community representatives. Shs provides healthcare services regardless of race, color, creed, sex, national origin, disability or age. The mission of shs is "building healthier communities together." the collective vision of the shs system is to serve our communities with pride (passion, respect, integrity, dedication, and excellence).
What it reported doing in 2024
As a pure non-profit captive insurance company, paradigm indemnity corporation (pic) directly insures hospital's and physician's professional liability and general liability coverage. This coverage includes five acute care facilities, three in the willamette valley and two on the Oregon coast. Included in this insurance is coverage for the following employed or contracted practitioners: 571 physicians, 99 physician assistants, 59 nurse practitioners, 26 crnas, 7 nurse midwives, and 21 other health professionals. These expenses are incurred to support the program.
Operating model
- Revenue model
- Earned-program. 83% 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 - 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: 66
- Transparency & Controls: 60
- Accountability: 66
- Sustainability: 74
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 64.4%; rating input score 64
- Program expense ratio: 91.7%; rating input score 92
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd 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: 57.1%; rating input score 57; 9th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- 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: 13.6%; rating input score 74; 74th percentile among comparable filings
- Total-asset coverage ratio: 5.25; rating input score 85; 85th percentile among comparable filings
- Liabilities to assets ratio: 0.3; rating input score 47; 47th percentile among comparable filings
- Officer compensation ratio: 2.4%; rating input score 73; 73rd percentile among comparable filings
Growth
- Program expense growth: 4.4% per year; rating input score 100; 37th percentile among comparable filings
- Revenue growth: 7.1% per year; rating input score 100; 60th percentile among comparable filings
- Asset growth: 8.9% per year; rating input score 100; 60th percentile among comparable filings
Details
- Where the money goes: 64.4% of revenue deployed · 91.7% of spending went to programs
- Governance: 4 of 7 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $10.5M in reported program spending
- Leadership: top reported pay $1.4M · 8 people listed · 0 of 6 pay-setting controls reported
- Consistency: 21 of 21 current checks pass
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 13 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Related organizations: 26 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.
- Review — Accountability: Independent voting board scored 57/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Moderate — Sustainability: Liabilities to assets ratio scored 47/100.