Providers Insurance Corporation

EIN: 710893000 501(c)(3) Health Care

HONOLULU, HI

Total Revenue
$28,631,693
Total Expenses
$24,839,597
Total Assets
$91,711,190
Net Assets
$23,107,047
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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
2002
Legal Domicile
HI
Phone
8085357213
Tax Period
2023-07-01 to 2024-06-30

Providers Insurance Corporation, founded in 2002, is a mid-sized nonprofit in the Health Care sector that reported $28.6M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $24.8M left a modest 13% surplus.

Mission

AS A CAPTIVE INSURANCE COMPANY, PROVIDERS INSURANCE CORPORATION PROVIDES GENERAL LIABILITY OCCURRENCE BASED COVERAGE AND HEALTH CARE PROFESSIONAL LIABILITY CLAIMS-MADE COVERAGE ON A DIRECT BASIS TO HAWAI'I PACIFIC HEALTH AND ITS 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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $25,201,764
Investment Income $3,398,467
Other Revenue $31,462
TOTAL REVENUE $28,631,693

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $24,112,215
Other Expenses $24,839,597
TOTAL EXPENSES $24,839,597

Year-over-Year Comparison

2023 2022 Change
Revenue $28,631,693 $25,035,883 +0.1%
Expenses $24,839,597 $22,474,096 +0.1%
Net Income $3,792,096 $2,561,787 +0.5%
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
6
Independent Members
1
Employees
N/A
Volunteers
1

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
7
$4,329,712
Total Directors
6
$7,947,194
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Charles R Ching Board of Director, Chair 1.3
Officer Director
$0 $294,495 $1,125,301
David Okabe Board of Director, Treasurer 0.5
Officer Director
$0 $424,421 $1,548,574
Gregg Timmons Board of Director, President 40.0
Officer Director
$0 $32,382 $253,089
Shilpa Patel MD VICE CHAIR & SECRETARY 0.5
Officer Director
$0 $120,521 $608,878
Michael Gibson Esq Board of Director 0.1
Director
$0 $0 $0
Raymond P Vara Jr Board of Director 1.0
Director
$0 $1,946,467 $4,411,352
Carrie Ann Tsutsui Assistant Treasurer 0.5
Officer
$0 $79,120 $386,410
Jessica Lewis Assistant Secretary 0.5
Officer
$0 $45,659 $229,658
Karen Maciorowski Vice President 40.0
Officer
$0 $36,848 $177,802
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
2025 No data No data No data No data
2024 $28,631,693 $24,839,597 $91,711,190 $3,792,096
2023 $25,035,883 $22,474,096 $82,180,111 $2,561,787
2022 $20,542,985 $22,394,631 $86,073,218 $-1,851,646
2021 $19,689,138 $20,273,705 $85,184,970 $-584,567
2020 $17,487,595 $19,509,339 $77,284,160 $-2,021,744
2020 $17,487,595 $19,509,339 $77,284,160 $-2,021,744
2019 $16,444,121 $14,454,990 $74,185,537 $1,989,131
2018 $17,301,430 $17,462,594 $78,002,460 $-161,164
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