PHYSICIAN INSURANCE PLAN OF ALABAMA (EIN 387124703) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2014

Legal Domicile

Principal Officer

ANGELA BARENTINE

Phone

3349542500

Tax Period

2024-01-01 to 2024-12-31

PHYSICIAN INSURANCE PLAN OF ALABAMA, founded in 2014, is a mid-sized nonprofit in the Mutual Benefit sector that reported $17.6M in total revenue in fiscal year 2023.

Mission

THE SOLE PURPOSE OF THE TRUST IS TO HOLD CONTRIBUTIONS TO BE APPLIED TO PROVIDE THE HEALTH AND WELFARE BENEFIT OPTIONS UNDER THE PLAN. THE PLAN WAS ADOPTED BY THE MEDICAL ASSOCIATION OF THE STATE OF ALABAMA ACTING AS A BONA FIDE ASSOCIATION OF EMPLOYERS, FOR THE BENEFIT OF ITS EMPLOYER-MEMBERS WHO MAY OFFER THE FULLY-INSURED BENEFIT OPTIONS UNDER THE PLAN TO THEIR EMPLOYEES.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $16,317,340

Investment Income $205,545

Other Revenue $459,618

TOTAL REVENUE $16,982,503

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $451,219

TOTAL EXPENSES $16,768,559

Year-over-Year Comparison

	2024	2023	Change
Revenue	$16,982,503	$17,638,979	0.0%
Expenses	$16,768,559	$17,469,564	0.0%
Net Income	$213,944	$169,415	+0.3%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANGELA BARENTINE	PLAN ADMINIS	1.00	Director	$0	$0	$0
DR ARTHUR BOYKIN	TRUSTEE	1.00	Director	$0	$0	$0
DR BRADLEY P KATZ	TRUSTEE	1.00	Director	$0	$0	$0
BOYD PUGH	TRUSTEE	1.00	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	$16,982,503	$16,768,559	$6,590,968	$213,944
2023	$17,638,979	$17,469,564	$6,612,359	$169,415

PHYSICIAN INSURANCE PLAN OF ALABAMA