HEARTLAND RISK MANAGEMENT COMPANY

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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

Principal Officer

DREW EARLY

Phone

2178762107

Tax Period

2019-10-01 to 2020-09-30

HEARTLAND RISK MANAGEMENT COMPANY, founded in 2011, is a community nonprofit that reported $4.2M in total revenue in fiscal year 2019. Revenue decreased 14% compared to the prior year.

Mission

TO PROVIDE INSURANCE SERVICES TO AND FOR THE BENEFIT OF DECATUR MEMORIAL HOSPITAL, A SECTION 501 (C) (3) ENTITY, WHICH IS THE SOLE MEMBER AND SUPPORTED ORGANIZATION OF HEARTLAND RISK MANAGEMENT COMPANY.

Program Service Accomplishments

Program 1

Expenses: $4,372,878 Revenue: $2,498,585

THE ORGANIZATION IS A SUPPORTING ORGANIZATION OF DECATUR MEMORIAL HOSPITAL (DMH), AN ILLINOIS TAX-EXEMPT HOSPITAL, AND OPERATES AS A "CAPTIVE INSURANCE COMPANY". ITS SOLE ACTIVITIES ARE LIMITED TO...

THE ORGANIZATION IS A SUPPORTING ORGANIZATION OF DECATUR MEMORIAL HOSPITAL (DMH), AN ILLINOIS TAX-EXEMPT HOSPITAL, AND OPERATES AS A "CAPTIVE INSURANCE COMPANY". ITS SOLE ACTIVITIES ARE LIMITED TO PROVIDING INSURANCE SERVICES TO DMH. IN DOING SO, THE ORGANIZATION ACHIEVES COST SAVINGS FOR DMH AND PROVIDES QUALITATIVE BENEFITS, SUCH AS 1) CREATING A JOINT DEFENSE PROGRAM FOR EMPLOYED PHYSICIANS OF THE HOSPITAL; 2) PROTECTING DMH FROM INSURANCE MARKET CYCLES BY BUILDING SURPLUS THUS ENABLING IT TO ADJUST THE ATTACHMENT POINT, AND THEREFORE COST, OF INSURANCE PURCHASED BY DMH FROM THE TRADITIONAL MARKETPLACE; 3) PROVIDING COVERAGE FOR JOINT VENTURES ENTERED INTO BY DMH; AND 4) ACCESSING WORLDWIDE REINSURANCE MARKETS TO SUPPLEMENT OR REPLACE THE CURRENT EXCESS INSURANCE PROGRAM.

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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 (2019)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,498,585

Investment Income $1,691,060

Other Revenue $0

TOTAL REVENUE $4,189,645

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $4,372,878

Other Expenses $4,434,465

TOTAL EXPENSES $4,434,465

Year-over-Year Comparison

	2019	2018	Change
Revenue	$4,189,645	$4,874,571	-0.1%
Expenses	$4,434,465	$5,049,197	-0.1%
Net Income	$-244,820	$-174,626	+0.4%

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

N/A

Independent Members

N/A

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

$804,646

Total Directors

$1,170,424

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DREW EARLY	BOARD MEMBER/VP	0.20	Officer Director	$0	$26,025	$529,596
JOHN RIDLEY	BOARD MEMBER	0.20	Director	$0	$28,582	$365,778
KATHERINE ANDERSON ESQ	FORMER BMR/SECRETARY (TR MAY 20)	15.00		$0	$36,932	$312,729
DEBORAH BRAGG	BOARD MEMBER/PRESIDENT/TREASURER	1.00	Officer Director	$0	$4,032	$275,050
ANDREW CHRISTIE	BOARD MEMBER	0.20	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
2020	$4,189,645	$4,434,465	No data	$-244,820
2019	$4,874,571	$5,049,197	$17,611,254	$-174,626
2018	$4,332,987	$3,059,329	$14,842,523	$1,273,658