Academic Physicians Insurancecompany

Organization Overview

Academic Physicians Insurancecompany is located in Colchester, VT. The organization was established in 2007. According to its NTEE Classification (E02) the organization is classified as: Management & Technical Assistance, 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. Academic Physicians Insurancecompany 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 06/2021, Academic Physicians Insurancecompany generated $24.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.6% each year . All expenses for the organization totaled $14.4m during the year ending 06/2021. While expenses have increased by 2.8% per year over the past 6 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE COMPANY IS ORGANIZED AND OPERATED FOR THE EXCLUSIVE PURPOSE OF SUPPORTING THE UNIVERSITY OF OKLAHOMA & ITS AFFILIATED ENTITIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ACADEMIC PHYSICIANS INSURANCE COMPANY PROVIDES COVERAGE TO MEDICAL PROFESSIONALS AND RELATED HOSPITAL ENTITIES OF THE UNIVERSITY OF OKLAHOMA , A TAX-EXEMPT ORGANIZATION. THE INSURANCE COVERAGES PROVIDED ASSIST THE UNIVERSITY AND HOSPITAL SYSTEM IN STABILIZING THEIR INSURANCE COSTS. THE UNIVERSITY OF OKLAHOMA IS OKLAHOMA'S PREMIER HIGHER EDUCATION INSTITUTION, AND WITH ITS RELATED HOSPITAL PARTNER, SERVES THE EDUCATIONAL AND HEALTH CARE NEEDS OF THE STATE AND SURROUNDING REGIONS. ACADEMIC PHYSICIANS INSURANCE COMPANY PROVIDES COVERAGE RELATED TO LIABILITY OF OVER 860 FACULTY PHYSICIANS, 737 RESIDENT PHYSICIANS, AND 899 STUDENTS, AS WELL AS A LARGE ACADEMIC HOSPITAL SYSTEM. COSTS ASSOCIATED WITH PROVIDING INSURANCE COVERAGES ARE IN FURTHERANCE OF THE ORGANIZATION'S TAX-EXEMPT PURPOSE OF SUPPORTING THE UNIVERSITY OF OKLAHOMA.


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Board, Officers & Key Employees

Name (title)Compensation
Name Not Listed
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Riskonnect Inc
Claims System Services
$179,089
Med-iq Inc
Online Education Services
$216,500
Marsh Management Services Inc
Captive Management Services
$171,308
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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$18,013,462
Investment income $1,556,662
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $5,003,275
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $24,573,399

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