Heartland Risk Management Company
Heartland Risk Management Company
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About this organization
Revenue
$4,874,571
Expenses
$5,049,197
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.
About
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.
Interesting data from their 2020 990 filing
The filing reveals the mission of the non-profit as “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.”.
When detailing its functions, they were listed as: “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.”.
- According to the law, the state where the non-profit operates has been reported as AZ.
- The filing specifies that the non-profit's address in 2020 was 2300 N EDWARD STREET, DECATUR, IL, 62526.
- As of 2020, the non-profit's form shows they have a total of 0 employees.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is -$174,626.
- The organization has 1 independent voting members.
- The organization was formed in 2011.
- The organization pays $0 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.
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