Ridgeview Insurance Company
- Assets
- $15.8m
- Revenue
- $5.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Waconia, MN
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 45-4109041
Organization Overview
Ridgeview Insurance Company is located in Waconia, MN. The organization was established in 2014. According to its NTEE Classification (E80) the organization is classified as: Health (General & Financing), 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. Ridgeview 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, Ridgeview Insurance Company generated $5.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $3.7m during the year ending 12/2021. While expenses have increased by 16.9% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE COMPANY IS ORGANIZED TO BE A PURE CAPTIVE INSURANCE COMPANY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE STOP LOSS INSURANCE COVERAGE FOR RIDGEVIEW MEDICAL CENTER'S SELF-FUNDED HEALTH INSURANCE TO INSURE THE RISKS OF RIDGEVIEW MEDICAL CENTER AND ITS SUBSIDIARIES AND AFFILIATES.RIDGEVIEW MEDICAL CENTER IS AN INDEPENDENT, NONPROFIT, REGIONAL HEALTH CARE SYSTEM SERVING THE SOUTHWEST METRO REGION OF THE TWIN CITIES. ITS NETWORK INCLUDES THREE HOSPITALS - LOCATED IN WACONIA, ARLINGTON AND LE SUEUR - A MULTITUDE OF PRIMARY AND SPECIALTY CARE CLINICS, EMERGENCY SERVICES AND SPECIALTY PROGRAMS, A NURSING HOME, INDEPENDENT LIVING APARTMENTS AND TWO TWELVE MEDICAL CENTER IN CHASKA - A FREE-STANDING 24/7 EMERGENCY AND URGENT CARE FACILITY WITH MULTISPECIALTY CLINICS AND SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Hastings Secretary | OfficerTrustee | 1 | $0 |
Brent Wordelman Treasurer | OfficerTrustee | 2 | $0 |
Michael Phelps Vice President | OfficerTrustee | 1 | $0 |
Gordon Gablenz CEO | OfficerTrustee | 1 | $0 |
Ann Wick Assistant Secretary | Officer | 1 | $0 |
Lorin Barker Director | Trustee | 1 | $0 |
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 | $5,318,960 |
| Investment income | $96,612 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $233,702 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,649,274 |
| 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 | $46,800 |
| Fees for services: Legal | $1,842 |
| Fees for services: Accounting | $24,534 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,595 |
| 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 | $0 |
| Total functional expenses | $3,663,818 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,655,020 |
| Savings and temporary cash investments | $151,507 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $75,138 |
| 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 | $11,700 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,796,786 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $68,023 |
| Total assets | $15,758,174 |
| Accounts payable and accrued expenses | $14,798 |
| Grants payable | $0 |
| Deferred revenue | $67,281 |
| 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 | $511,160 |
| Total liabilities | $593,239 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $100,000 |
| Paid-in or capital surplus, or land, building, or equipment fund | $338,000 |
| Retained earnings, endowment, accumulated income, or other funds | $14,726,935 |
| Total liabilities and net assets/fund balances | $15,758,174 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iowa Life And Health Insurance Guaranty Association Des Moines, IA | $11,629,327 | $10,389,227 |
Caringbridge Eagan, MN | $5,186,201 | $10,947,977 |
Union Sponsored Health Benefits Tr Milwaukee, WI | $0 | $311 |
Iowa Prescription Drug Corporation Grimes, IA | $1,322,646 | $8,932,847 |
South Dakota Life And Health Insurance Guaranty Association Sioux Falls, SD | $739,466 | $7,515,713 |
Wisconsin Statewide Health Information Network Inc Madison, WI | $3,172,138 | $5,065,926 |
Ridgeview Insurance Company Waconia, MN | $15,758,174 | $5,649,274 |
Preferredone Community Health Plan Golden Valley, MN | $2,826,703 | $1,188,255 |
Hero Healthcare Equipment Recycling Organization Fargo, ND | $476,265 | $991,996 |
World Gastroenterology Organisation Milwaukee, WI | $6,324,798 | $467,512 |
Citizens Council For Health Freedom St Paul, MN | $1,615,674 | $1,237,665 |
Oelwein Community Healthcare Foundation Oelwein, IA | $4,624,696 | $292,999 |