Southwest Professional Indemnity Co

Nonprofit profile at a glance

EIN
980047386
IRS 990 coverage
2014–2025
Forms available
Form 990 2025
Location
Grand Cayman, CI, CJ
Phone
3459491599
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$72,876
Expenses
$97,262
Assets
$368,450
Liabilities
$34,754

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

4 people listed

Highest reported compensation

  • JEFFREY VAUGHN LEAVERTON (DIRECTOR): $7,914 total reported compensation
  • JULIE NICOLE ALBERT (DIRECTOR): $4,000 total reported compensation
  • S GARY WERLEY (DIRECTOR): $975 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Reinsurance provider for the medical professional liability insurance risks from an unrelated primary insurer in the united states of america

What it reported doing in 2025

Insurance - gross receipts during the year ended december 31, 2024, were $60,084. The company's premiums received during the year ended december 31, 2025, were $42,084, which exceeded 50% of their total receipts, thereby satisfying the tax exempt status requirements of internal revenue service code section 501(c)(15)(a).

Operating model

Revenue model
Earned-program. 82% 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 most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 50
  • Accountability: 76
  • Sustainability: 31
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -33.5%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 3.79; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 13.3%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: 85.3% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: -2.8% per year; rating input score 0; 47th percentile among comparable filings
  • Asset growth: -7.7% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $97K in reported program spending
  • Leadership: top reported pay $8K · 4 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 3 filed schedules · includes foreign activity
  • Filing history: 11 filing years from 2014 to 2025
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.