PARADIGM INDEMNITY CORPORATION

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2003

Legal Domicile

Principal Officer

DOUGLAS BOYSEN

Phone

5417684857

Tax Period

2023-01-01 to 2023-12-31

PARADIGM INDEMNITY CORPORATION, founded in 2003, is a mid-sized nonprofit in the Mutual Benefit sector that reported $12.9M in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. The organization ran a surplus of $2.6M, a strong 20% operating margin.

Mission

PARADIGM INDEMNITY CORPORATION (PIC) IS A PURE NON-PROFIT CAPTIVE INSURANCE COMPANY FORMED BY 501(C)(3) PARENT ORGANIZATION SAMARITAN HEALTH SERVICES (SHS). PIC DIRECTLY INSURES FOR PROFESSIONAL AND GENERAL LIABILITY COVERAGE FOR SHS-RELATED AFFILIATES. PARADIGM INDEMNITY CORPORATION (PIC) IS A MEMBER OF THE SHS SYSTEM, A REGIONAL NETWORK OF HOSPITALS AND PHYSICIANS. THE NETWORK, FORMED IN THE LATE 1990'S, SERVES APPROXIMATELY 290,000 RESIDENTS IN LINN, BENTON, LINCOLN AND PORTIONS OF POLK AND MARION COUNTIES IN OREGON. IT IS LOCALLY OWNED, AND ITS BOARDS OF DIRECTORS INCLUDE HOSPITAL LEADERS, PHYSICIANS AND COMMUNITY REPRESENTATIVES. SHS PROVIDES HEALTHCARE SERVICES REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN, DISABILITY OR AGE. THE MISSION OF SHS IS "BUILDING HEALTHIER COMMUNITIES TOGETHER." THE COLLECTIVE VISION OF THE SHS SYSTEM IS TO SERVE OUR COMMUNITIES WITH PRIDE (PASSION, RESPECT, INTEGRITY, DEDICATION, AND EXCELLENCE).

Program Service Accomplishments

Program 1

Expenses: $9,470,303 Revenue: $10,431,720

AS A PURE NON-PROFIT CAPTIVE INSURANCE COMPANY, PARADIGM INDEMNITY CORPORATION (PIC) DIRECTLY INSURES HOSPITAL'S AND PHYSICIAN'S PROFESSIONAL LIABILITY AND GENERAL LIABILITY COVERAGE. THIS COVERAGE INCLUDES FIVE ACUTE CARE FACILITIES, THREE IN THE WILLAMETTE VALLEY AND TWO ON THE OREGON COAST. INCLUDED IN THIS INSURANCE IS COVERAGE FOR THE FOLLOWING EMPLOYED OR CONTRACTED PRACTITIONERS: 557 PHYSICIANS, 95 PHYSICIAN ASSISTANTS, 59 NURSE PRACTITIONERS, 28 CRNAS, 7 NURSE MIDWIVES, AND 21 OTHER HEALTH PROFESSIONALS. THESE EXPENSES ARE INCURRED TO SUPPORT THE PROGRAM.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $10,431,720

Investment Income $2,455,390

Other Revenue $0

TOTAL REVENUE $12,887,110

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $9,470,303

Other Expenses $10,324,279

TOTAL EXPENSES $10,324,279

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,887,110	$14,788,703	-0.1%
Expenses	$10,324,279	$4,116,058	+1.5%
Net Income	$2,562,831	$10,672,645	-0.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$2,371,003

Total Directors

$2,972,504

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DOUGLAS BOYSEN	BOARD CHAIR / CEO SHS	1.00	Officer Director	$0	$68,391	$1,623,482
RANDY SPRINGER	BRD VICE CHAIR & SECRETARY	1.00	Officer Director	$0	$0	$0
DAVID TRIEBES	BOARD MEMBER	1.00	Director	$0	$0	$0
RALPH BREITENSTEIN MD	BOARD MEMBER	1.00	Director	$0	$0	$0
KELLEY KAISER	BOARD MEMBER / SVP CAO SHS	1.00	Director	$0	$66,767	$583,787
NANCY SEIFERT PHD	BOARD MEMBER	1.00	Director	$0	$0	$0
ROBERT TURNGREN MD	BRD MBR / SVP CHIEF PHYS EXEC	1.00	Director	$0	$62,939	$765,235
DANIEL SMITH	TREASURER / SVP CFO SHS	1.00	Officer	$0	$68,167	$747,521

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	No data	No data	No data	No data
2023	$12,887,110	$10,324,279	$58,412,860	$2,562,831
2022	$14,788,703	$4,116,058	$66,739,436	$10,672,645
2021	$10,885,201	$7,163,826	$60,433,945	$3,721,375
2020	$11,908,630	$7,786,731	$55,688,329	$4,121,899
2019	$11,299,391	$6,219,868	$48,462,605	$5,079,523
2018	$10,769,152	$6,578,693	$38,992,926	$4,190,459