PROMEDICA INDEMNITY CORPORATION (EIN 341931936) - Form 990 Financial Analysis & Trantor Score

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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

2001

Legal Domicile

Principal Officer

TERRENCE METZGER

Phone

4192525772

Tax Period

2024-01-01 to 2024-12-31

PROMEDICA INDEMNITY CORPORATION, founded in 2001, is a mid-sized nonprofit in the Health Care sector that reported $29.9M in total revenue in fiscal year 2024. Revenue fell 35% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $13.3M, a strong 44% operating margin.

Mission

PROMEDICA INDEMNITY CORPORATION PROVIDES MEDICAL PROFESSIONAL AND GENERAL LIABILITY INSURANCE COVERAGE EXCLUSIVELY FOR PROMEDICA HEALTH SYSTEM, INC. AND ITS SUBSIDIARIES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $20,824,191

Investment Income $9,117,980

Other Revenue $0

TOTAL REVENUE $29,942,171

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $15,178,617

Other Expenses $16,654,904

TOTAL EXPENSES $16,654,904

Year-over-Year Comparison

	2024	2023	Change
Revenue	$29,942,171	$45,835,586	-0.3%
Expenses	$16,654,904	$40,122,249	-0.6%
Net Income	$13,287,267	$5,713,337	+1.3%

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

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

$4,813,650

Total Directors

$3,175,832

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELAINE CANNING	TRUSTEE	1.00	Director	$0	$0	$0
DAN FARRELL	TRUSTEE	1.00	Director	$0	$0	$0
BOB GAGLIARDI	TRUSTEE	1.00	Director	$0	$0	$0
BOB LACLAIR	TRUSTEE	1.00	Director	$0	$0	$42,500
LARRY PETERSON	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
ARTURO POLIZZI	TRUSTEE/CEO	1.00	Officer Director	$0	$14,012	$3,133,332
THOMAS WINSTON	TRUSTEE - PART YEAR	1.00	Director	$0	$0	$0
BENJAMIN GOULD	ASSISTANT SECRETARY	1.00	Officer	$0	$0	$0
STEPHEN SADOWSKI	PRESIDENT/SECRETARY/CHIEF LEGAL OFFICER	1.00	Officer	$0	$6,038	$1,186,414
SCOTT FOUGHT	TREASURER/VP - ACUTE CARE	1.00	Officer	$0	$7,144	$493,904

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	$29,942,171	$16,654,904	$173,565,325	$13,287,267
2023	$45,835,586	$40,122,249	$156,104,094	$5,713,337
2022	$17,723,166	$15,608,460	$107,100,873	$2,114,706
2021	$28,459,378	$29,503,943	$137,586,435	$-1,044,565
2020	$14,950,379	$14,689,387	$117,925,045	$260,992
2019	$15,236,859	$10,026,308	$86,724,933	$5,210,551
2018	$11,309,567	$5,492,328	$85,000,335	$5,817,239

PROMEDICA INDEMNITY CORPORATION