GEISINGER INSURANCE CORPORATION RI… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

TERRY GILLILAND MD JD

Phone

5702716624

Tax Period

2023-01-01 to 2023-12-31

GEISINGER INSURANCE CORPORATION RISK RETENTION GROUP, founded in 2004, is a community nonprofit in the Mutual Benefit sector that reported $2.0M in total revenue in fiscal year 2023. Expenses of $1.7M left a modest 14% surplus.

Mission

GEISINGER INSURANCE CORPORATION, RISK RETENTION GROUP PROVIDES COST EFFECTIVE LIABILITY INSURANCE OPTIONS TO ITS NONPROFIT MEMBERS IN ORDER TO FACILITATE THE ACHIEVEMENT OF THEIR MISSION.

Program Service Accomplishments

Program 1

Expenses: $1,600,981 Revenue: $1,958,173

GEISINGER INSURANCE CORPORATION, RISK RETENTION GROUP (THE COMPANY) IS A SELF-INSURANCE FUNDING VEHICLE FOR AFFILIATED ENTITIES, AND AS SUCH AN INTEGRAL PART OF EACH OF THEIR NONPROFIT, CHARITABLE...

GEISINGER INSURANCE CORPORATION, RISK RETENTION GROUP (THE COMPANY) IS A SELF-INSURANCE FUNDING VEHICLE FOR AFFILIATED ENTITIES, AND AS SUCH AN INTEGRAL PART OF EACH OF THEIR NONPROFIT, CHARITABLE HEALTHCARE OPERATIONS. THE COMPANY WAS FORMED PRIMARILY TO ADDRESS THE LACK OF MEDICAL PROFESSIONAL LIABILITY COVERAGE IN THE COMMONWEALTH OF PENNSYLVANIA, AND TO ENABLE GEISINGER TO COMPLY WITH THE PENNSYLVANIA MEDICAL CARE AVAILABILITY AND REDUCTION OF ERROR ACT (MCARE) (1), WHICH REQUIRES PENNSYLVANIA PHYSICIANS AND HEALTHCARE INSTITUTIONS TO OBTAIN PRIMARY PROFESSIONAL LIABILITY COVERAGE FROM A QUALIFIED SELF-INSURANCE TRUST OR AN INSURER LICENSED TO PROVIDE SUCH LIABILITY COVERAGE IN PENNSLYVANIA. THE COMPANY IS ORGANIZED AND OPERATED AS A NONPROFIT MEMBERSHIP CORPORATION UNDER THE VERMONT NONPROFIT CORPORATION ACT, TITLE 11B OF THE VERMONT STATUES ANNOTATED. THE COMPANY'S MEMBERSHIP IS LIMITED TO THE FOLLOWING MEMBER ORGANIZATIONS OF GEISINGER, EACH OF WHICH IS INSURED BY THE COMPANY: GEISINGER MEDICAL CENTER GEISINGER COMMUNITY HEALTH SERVICES GEISINGER WYOMING VALLEY MEDICAL CENTER GEISINGER CLINIC COMMUNITY MEDICAL CENTER DBA: GEISINGER COMMUNITY MEDICAL CENTER GEISINGER-BLOOMSBURG HOSPITAL GEISINGER-LEWISTOWN HOSPITAL GEISINGER JERSEY SHORE HOSPITAL GEISINGER MEDICAL CENTER MUNCY THE COMPANY PROVIDES MEDICAL PROFESSIONAL LIABILITY COVERAGE EXCLUSIVELY TO THE GEISINGER 501(C)(3) MEMBER AFFILIATES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,958,173

Investment Income $4,953

Other Revenue $0

TOTAL REVENUE $1,963,126

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,600,981

Other Expenses $1,684,727

TOTAL EXPENSES $1,684,727

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,963,126	$1,922,064	+0.0%
Expenses	$1,684,727	$1,610,914	+0.0%
Net Income	$278,399	$311,150	-0.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$14,073,733

Total Directors

$14,437,617

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAEWON RYU MD JD	PRESIDENT, D	0.00	Officer Director	$0	$1,571,914	$7,064,026
KEVIN V ROBERTS MBA CPA	TREASURER, D	0.00	Officer Director	$0	$60,007	$3,648,273
JAMES E HARTLE MD	VP, DIRECTOR	0.00	Officer Director	$0	$323,763	$2,968,536
CINDY SHERIDAN ESQUIRE	SECRETARY, D	0.00	Officer Director	$0	$39,820	$392,898
TAMMY LEIBY	DIRECTOR	0.00	Director	$0	$49,090	$363,884
SHERI TREMBLAY CPA AIAF	ASST. SECRET	0.25	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$1,963,126	$1,684,727	$5,054,824	$278,399
2022	$1,922,064	$1,610,914	$3,527,378	$311,150
2021	$1,657,669	$1,541,342	$3,075,325	$116,327
2020	$775,081	$778,318	$2,635,680	$-3,237
2020	$1,353,268	$1,396,309	$2,168,917	$-43,041
2019	$1,326,348	$1,199,174	$2,218,193	$127,174
2018	$1,277,387	$1,205,526	$2,084,426	$71,861

GEISINGER INSURANCE CORPORATION RISK RETENTION GROUP