RIDGEVIEW INSURANCE COMPANY

EIN: 454109041 501(c)(3) Health Care

WACONIA, MN

Total Revenue
$7,571,406
Total Expenses
$3,898,562
Total Assets
$15,445,492
Net Assets
$14,661,914
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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
2011
Legal Domicile
UT
Principal Officer
MICHAEL PHELPS
Phone
9524422191
Tax Period
2024-01-01 to 2024-12-31

RIDGEVIEW INSURANCE COMPANY, founded in 2011, is a community nonprofit in the Health Care sector that reported $7.6M in total revenue in fiscal year 2024. Revenue surged 1012% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.7M, a strong 49% operating margin.

Mission

RIDGEVIEW INSURANCE COMPANY EXISTS TO INSURE THE RISKS OF RIDGEVIEW MEDICAL CENTER AND ITS SUBSIDIARIES AND AFFILIATES.

Program Service Accomplishments

Program 1
Expenses: $3,790,912 Revenue: $6,073,954

PROVIDE STOP LOSS INSURANCE COVERAGE FOR RIDGEVIEW MEDICAL CENTER'S SELF-FUNDED HEALTH INSURANCE TO INSURE THE RISKS OF RIDGEVIEW MEDICAL CENTER AND ITS SUBSIDIARIES AND AFFILIATES.RIDGEVIEW MEDICAL...

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PROVIDE STOP LOSS INSURANCE COVERAGE FOR RIDGEVIEW MEDICAL CENTER'S SELF-FUNDED HEALTH INSURANCE TO INSURE THE RISKS OF RIDGEVIEW MEDICAL CENTER AND ITS SUBSIDIARIES AND AFFILIATES.RIDGEVIEW MEDICAL CENTER IS AN INDEPENDENT, NONPROFIT, REGIONAL HEALTH CARE SYSTEM SERVING THE SOUTHWEST METRO REGION OF THE TWIN CITIES. ITS NETWORK INCLUDES THREE HOSPITALS - LOCATED IN WACONIA, ARLINGTON AND LE SUEUR - A MULTITUDE OF PRIMARY AND SPECIALTY CARE CLINICS, EMERGENCY SERVICES AND SPECIALTY PROGRAMS, INDEPENDENT LIVING APARTMENTS AND TWO TWELVE MEDICAL CENTER IN CHASKA - A FREE-STANDING 24/7 EMERGENCY AND URGENT CARE FACILITY WITH MULTISPECIALTY CLINICS AND SERVICES.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $6,073,954
Investment Income $1,497,452
Other Revenue $0
TOTAL REVENUE $7,571,406

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $3,790,912
Other Expenses $3,898,562
TOTAL EXPENSES $3,898,562

Year-over-Year Comparison

2024 2023 Change
Revenue $7,571,406 $680,961 +10.1%
Expenses $3,898,562 $5,771,648 -0.3%
Net Income $3,672,844 $-5,090,687 -1.7%
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

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Governance

Voting Members
4
Independent Members
1
Employees
N/A
Volunteers
2

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
5
$2,420,798
Total Directors
4
$2,420,798
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL PHELPS VICE PRESIDENT 1.00
Officer Director
$0 $93,249 $1,224,841
BRENT WORDELMAN PRESIDENT 2.00
Officer Director
$0 $46,924 $300,385
KEN BIRRELL SECRETARY 1.00
Officer Director
$0 $0 $0
AARON BLOOMQUIST TREASURER 1.00
Officer Director
$0 $72,054 $895,572
TEMPE ROBINS ASSISTANT SECRETARY 1.00
Officer
$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 $7,571,406 $3,898,562 $15,445,492 $3,672,844
2023 $680,961 $5,771,648 $12,090,898 $-5,090,687
2022 $6,005,320 $3,831,485 $16,773,903 $2,173,835
2021 $5,649,274 $3,663,818 $15,758,174 $1,985,456
2020 $5,096,674 $2,444,983 $12,812,618 $2,651,691
2019 $4,605,526 $3,131,241 $9,472,229 $1,474,285
2018 $4,033,420 $2,035,898 $8,666,510 $1,997,522
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