Lokahi Assurance Ltd
- Assets
- $3.0b
- Revenue
- $523.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Oakland, CA
- Founding
- 09/2003
- Data as of
- 12/2022
- EIN
- 91-2171891
Organization Overview
Lokahi Assurance Ltd is located in Oakland, CA. The organization was established in 2003. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lokahi Assurance Ltd 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 12/2022, Lokahi Assurance Ltd generated $523.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $664.4m during the year ending 12/2022. While expenses have increased by 12.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
A SUPPORTING ORGANIZATION TO KAISER FOUNDATION HEALTH PLAN INC AND SUBSIDIARIES CREATED TO PROVIDE A MEANS OF FINANCING PROFESSIONAL AND GENERAL LIABILITY, WORKERS' COMPENSATION LIABILITY, MANAGED CARE LIABILITY AND PANDEMIC, TERRORISM, CYBER SECURITY, AND EARTHQUAKE EXPOSURES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Zemelman Svp, General Counsel & Secy | 0.2 | $0 | |
Vanessa Benavides Svp,chief Legal Officer & Secy | Officer | 1 | $0 |
Thomas Meier Vice President & Treasurer | OfficerTrustee | 2 | $0 |
Martin King Director & President | OfficerTrustee | 5 | $0 |
Hong-Sze Yu Vp, Brd & Corp Gov & Asst Secy | Officer | 0.1 | $0 |
Sylvia Bhatia Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Guy Carpenter Insurance Consulting | 12/30/22 | $829,500 |
Bank Of Hawaii Investment Mgmt | 12/30/22 | $821,880 |
Eisner Advisory Group Llc Consulting Services | 12/30/22 | $793,482 |
Willis Towers Watson Actuarial Services | 12/30/22 | $659,000 |
Advent Capital Management Investment Mgmt | 12/30/22 | $377,483 |
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 | $410,348,646 |
| Investment income | $106,364,644 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,631,441 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $523,344,731 |
| 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. | $15,000 |
| Compensation of current officers, directors, key employees. | $15,000 |
| 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 | $0 |
| Fees for services: Legal | $23,726 |
| Fees for services: Accounting | $73,140 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,267,057 |
| 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 | $19,199 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $52,014 |
| Total functional expenses | $664,390,364 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $16,310,095 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,884,054,350 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,316 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $988,004,925 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $80,780,621 |
| Total assets | $2,969,153,307 |
| Accounts payable and accrued expenses | $1,123,672 |
| Grants payable | $0 |
| Deferred revenue | $6,876,418 |
| 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 | $2,516,678,171 |
| Total liabilities | $2,524,678,261 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $25,000,000 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $419,475,046 |
| Total liabilities and net assets/fund balances | $2,969,153,307 |