Lions Insurance Company
- Assets
- $32.7m
- Revenue
- $6.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Indianapolis, IN
- Founding
- 03/2007
- Data as of
- 12/2021
- EIN
- 20-4372643
Organization Overview
Lions Insurance Company is located in Indianapolis, IN. The organization was established in 2007. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lions Insurance Company is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Lions Insurance Company generated $6.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $6.6m during the year ending 12/2021. While expenses have increased by 6.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE INSURANCE COVERING THE PROFESSIONAL AND GENERAL LIABILITY EXPOSURES OF THE NURSING HOMES OPERATED BY HEALTH AND HOSPITAL CORPORATION OF MARION COUNTY(HHC)
Describe the Organization's Program Activity:
LIONS INSURANCE COMPANY IS A COMPONENT UNIT OF HEALTH AND HOSPITAL CORPORATION OF MARION COUNTY (HHC). HHC IS A MUNICIPAL ENTITY CREATED BY STATE STATUTE, INDIANA CODE SECTION 16-22-8 ET SEQ. LIONS INSURANCE COMPANY IS A PURE CAPTIVE INSURER ORGANIZED AS A NONPROFIT CORPORATION THAT PROVIDES INSURANCE AND REINSURANCE COVERAGE FOR HHC'S NURSING HOMES. DURING 2021 LIONS INSURANCE COMPANY CLOSED A TOTAL OF 29 CASES MADE BY OR ON BEHALF OF HHC NURSING HOME RESIDENTS. IN 11 OF THOSE CASES LIONS PAID TO SETTLE THE CLAIM. SETTLEMENT PAYMENTS TOTALED $2,126,012.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Norman Aranda President | OfficerTrustee | 20 | $0 |
Daniel E Sellers Vp, Secretary, And Treasurer | OfficerTrustee | 10 | $0 |
Geeta Karnik Board Member (beg. 12/8/2021) | Trustee | 1 | $0 |
James Miner MD Board Member (end 12/8/2021) | Trustee | 1 | $0 |
Robert R Putnam Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Schultz And Pogue Llp Legal Services | 12/30/21 | $193,178 |
Robbins Russell Englert Orseck Unte Legal Services | 12/30/21 | $103,860 |
Faegre Drinker Biddle And Reath Llp Legal And Consulting | 12/30/21 | $188,772 |
Krieg Devault Llp Legal Services | 12/30/21 | $85,081 |
Riley Bennett And Egloff Llp Legal Services | 12/30/21 | $606,365 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $6,293,340 |
| Investment income | $31,507 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,324,847 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $800,000 |
| Fees for services: Legal | $542,209 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $5,298,511 |
| Total functional expenses | $6,640,720 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $32,591,315 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $106,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $39,167 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $32,736,482 |
| Accounts payable and accrued expenses | $143,690 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $26,177,043 |
| Total liabilities | $26,320,733 |
| Net assets without donor restrictions | $6,415,749 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $32,736,482 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Indiana Health Information Exchange Inc Indianapolis, IN | $7,071,643 | $17,868,575 |
Construction Industry Of Kansas Health & Welfare Trust Fund Agreem Lexington, KY | $4,313,780 | $19,547,175 |
Vollrath Company Employee Health & Welfare Benefit Trust Sheboygan, WI | $1,493,056 | $18,329,364 |
Cmc Foundation Of Central Texas St Louis, MO | $62,748,063 | $28,416,525 |
Saint Lukes Foundation Kansas City, MO | $267,580,144 | $14,180,351 |
Childrens Hospital Foundation Louisville, KY | $121,952,447 | $19,774,743 |
Southern Illinois Laborers & Empl Health & Welfare Fund Marion, IL | $23,536,245 | $17,167,946 |
Cardinal Glennon Childrens Foundation St Louis, MO | $175,256,703 | $38,879,675 |
Communicare Services Elizabethtown, KY | $10,036,197 | $20,763,461 |
Hoosier Cancer Research Network Inc Indianapolis, IN | $13,291,653 | $12,660,733 |
Stagehands Union Local No 2 Health And Welfare Fund Oak Brook, IL | $8,693,853 | $9,920,428 |
Boniface Foundation St Louis, MO | $337,979,299 | $24,215,737 |