Southern Oregon Insurance Inc
Nonprofit profile at a glance
- EIN
- 201578637
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Honolulu, HI, USA
- Phone
- 8085853500
- Rating
- 69
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Insurance Providers
Reported finances
- Revenue
- $6,333,181
- Expenses
- $6,065,465
- Assets
- $50,173,547
- Liabilities
- $14,933,738
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- TOM GESSEL (CHAIR/PRESIDENT)
Highest reported compensation
- SCOTT KELLY (FORMER CHAIR/PRES THRU 2/13/23): $1,593,392 total reported compensation
- TOM GESSEL (CHAIR/PRESIDENT): $1,522,267 total reported compensation
- JAMES GREBOSKY MD (DIRECTOR THRU 1/2/24): $651,270 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Schedule othe primary pupose 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, benefiting or carrying out some or all of the purposes of asante, dba asante health system (ahs) and other organizations ("affiliates") that are controlled directly or indirectly by ahs and that are non-private foundations under section 509(a)(1) or (2) of the internal revenue code of 1986, as amended ("code"), or corresponding sections of any future federal tax code.
What it reported doing in 2024
Southern Oregon insurance inc. Received its certificate of authority as a pure captive insurance company from the insurance commissioner of the state of Hawaii. The company provides its parent with alternative risk financing options, and is authorized to provide healthcare professional and general liability coverage on a claims-made basis.
Operating model
- Revenue model
- Earned-program. 76% 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: 86
- Transparency & Controls: 60
- Accountability: 47
- Sustainability: 53
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 92%; rating input score 92
- 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: 33.3%; rating input score 33; 7th percentile among comparable filings
- Governance controls: 6 of 9 controls in place; rating input score 67
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- 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: 4.2%; rating input score 48; 48th percentile among comparable filings
- Total-asset coverage ratio: 8.27; rating input score 89; 89th percentile among comparable filings
- Liabilities to assets ratio: 0.3; rating input score 34; 34th percentile among comparable filings
- Officer compensation ratio: Limited
Growth
- Program expense growth: 4% per year; rating input score 100; 33rd percentile among comparable filings
- Revenue growth: 4.5% per year; rating input score 100; 38th percentile among comparable filings
- Asset growth: 6.7% per year; rating input score 100; 43rd percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 92% of spending went to programs
- Governance: 1 of 3 board members independent · 6 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $5.6M in reported program spending
- Leadership: top reported pay $1.6M · 6 people listed · 0 of 6 pay-setting controls reported
- Consistency: 19 of 19 current checks pass
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 3 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 33/100.
- Review — Accountability: Governance controls: 3 of 9 not reported.
- Moderate — Sustainability: Operating margin scored 48/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 34/100.