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Nonprofiteer
← LECOM HEALTH RISK RETENTION GROUP

Form 990 for tax year 2022

Filed by LECOM HEALTH RISK RETENTION GROUP.

Totals

Total revenue
$4,297,375
Total expenses
$3,619,554
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,259,363
Investment income
$38,012
Other revenue
$0
Total assets, end of year
$7,550,098
Total liabilities, end of year
$5,301,545
Net assets or fund balances, end of year
$2,248,553
Program services expenses (Part IX)
$3,443,812
Management and general expenses
$175,742
Fundraising expenses
$0
Program service expenses (Part III)
$3,443,812

Program services were 95.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: PREMIUMS EARNED

    total $4,259,363 · related or exempt $4,259,363

  • 3 · Investment income

    total $50,557 · excluded $50,557

  • 7b · Less cost or other basis and sales expenses

    securities $12,545

  • 7c · Gain or loss

    securities -$12,545

  • 7d · Net gain or loss

    total -$12,545 · excluded -$12,545

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $145,000 · management and general $145,000

  • 11b · Fees: legal

    total $5,060 · management and general $5,060

  • 11c · Fees: accounting

    total $23,500 · management and general $23,500

  • 11f · Fees: investment management

    total $2,182 · management and general $2,182

  • 11g · Fees: other

    total $32,323 · program services $32,323

  • 17 · Travel

    total $398 · program services $398

  • 24a · Other expenses: LOSSES AND LOSS ADJUSTM

    total $3,289,579 · program services $3,289,579

  • 24b · Other expenses: PREMIUM TAXES

    total $107,664 · program services $107,664

  • 24c · Other expenses: ACTUARY FEES

    total $12,000 · program services $12,000

  • 24d · Other expenses: MISCELLANEOUS EXPENSE

    total $1,848 · program services $1,848

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,548,666 · end of year $6,365,486

  • 9 · Prepaid expenses and deferred charges

    beginning of year $12,083 · end of year $22,906

  • 11 · Investments: publicly traded securities

    end of year $1,161,706

  • 15 · Other assets

    beginning of year $493 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $89,668 · end of year $42,353

  • 25 · Other liabilities

    beginning of year $1,828,858 · end of year $5,259,192

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $1,125,000 · end of year $1,125,000

  • 31 · Retained earnings, endowment or other funds

    beginning of year $517,716 · end of year $1,123,553

Mission and programs · 2022

Mission

THE CORPORATION'S PRIMARY PURPOSE IS TO SUPPORT THE CHARITABLE PURPOSES OF (I) MILLCREEK HEALTH SYSTEM, A PENNSYLVANIA NONPROFIT CORPORATION D/B/A LECOM HEALTH (THE "PARENT"), AND (II) EACH AFFILIATE OF THE PARENT THAT IS IN EXISTENCE ON THE DATE HEREOF OR IS FORMED AFTER THE DATE HEREOF AND THAT IS EXEMPT FROM FEDERAL INCOME TAX AND IS AN ENTITY OF THE TYPE DESCRIBED IN SECTION 501(C)(3) OF THE CODE (THE "LECOM EXEMPT AFFILIATES") BY PROVIDING INSURANCE AND/OR CLAIMS DEFENSE, ADMINISTRATION, AND INDEMNITY TO, OR IN RESPECT OF RISKS PRESENTED BY AND ACTIVITIES ENGAGED IN BY, THE PARENT AND/OR THE LECOM EXEMPT AFFILIATES, TOGETHER WITH THEIR RESPECTIVE EMPLOYEES AND OTHERS PROVIDING SERVICES ON BEHALF OF AND WITHIN THE SCOPE OF THE EXEMPT ACTIVITIES ENGAGED IN BY THE PARENT AND/OR THE LECOM EXEMPT AFFILIATES.

  • THE CORPORATION'S PRIMARY PURPOSE IS TO SUPPORT THE CHARITABLE PURPOSES OF (I) MILLCREEK HEALTH SYSTEM, A PENNSYLVANIA NONPROFIT CORPORATION D/B/A LECOM HEALTH (THE "PARENT"), AND (II) EACH AFFILIATE OF THE PARENT THAT IS IN EXISTENCE ON THE DATE HEREOF OR IS FORMED AFTER THE DATE HEREOF AND THAT IS EXEMPT FROM FEDERAL INCOME TAX AND IS AN ENTITY OF THE TYPE DESCRIBED IN SECTION 501(C)(3) OF THE CODE (THE "LECOM EXEMPT AFFILIATES") BY PROVIDING INSURANCE AND/OR CLAIMS DEFENSE, ADMINISTRATION, AND INDEMNITY TO, OR IN RESPECT OF RISKS PRESENTED BY AND ACTIVITIES ENGAGED IN BY, THE PARENT AND/OR THE LECOM EXEMPT AFFILIATES, TOGETHER WITH THEIR RESPECTIVE EMPLOYEES AND OTHERS PROVIDING SERVICES ON BEHALF OF AND WITHIN THE SCOPE OF THE EXEMPT ACTIVITIES ENGAGED IN BY THE PARENT AND/OR THE LECOM EXEMPT AFFILIATES.

    Expenses $3,443,812 · Revenue $4,259,363

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • John M Ferretti Do

    PRESIDENT

    Total calculated
    $1,362,385
    From this org
    $0
    From related orgs
    $1,331,567
    Other
    $30,818
    Hours/week
    1 + 79 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,297,756 related
    Bonus
    $0
    Other
    $0 + $33,811 related
    Deferred
    $0 + $24,400 related
    Nontaxable benefits
    $0 + $6,418 related
    Filer's total
    $0 + $1,362,385 related

  • Steven G Inman CPA Cgma

    TREASURER AND SECRETARY

    Total calculated
    $362,506
    From this org
    $0
    From related orgs
    $332,130
    Other
    $30,376
    Hours/week
    1 + 64 related

    Schedule J breakdown matched by us

    Base
    $0 + $326,548 related
    Bonus
    $0
    Other
    $0 + $5,582 related
    Deferred
    $0 + $23,958 related
    Nontaxable benefits
    $0 + $6,418 related
    Filer's total
    $0 + $362,506 related

  • Richard E Ferretti Esq

    VICE PRESIDENT

    Total calculated
    $336,020
    From this org
    $0
    From related orgs
    $299,054
    Other
    $36,966
    Hours/week
    1 + 64 related

    Schedule J breakdown matched by us

    Base
    $0 + $289,381 related
    Bonus
    $0
    Other
    $0 + $9,673 related
    Deferred
    $0 + $21,498 related
    Nontaxable benefits
    $0 + $15,468 related
    Filer's total
    $0 + $336,020 related

  • Aaron E Susmarski JD

    BOARD MEMBER

    Total calculated
    $266,196
    From this org
    $0
    From related orgs
    $238,280
    Other
    $27,916
    Hours/week
    1 + 64 related

    Schedule J breakdown matched by us

    Base
    $0 + $238,040 related
    Bonus
    $0
    Other
    $0 + $240 related
    Deferred
    $0 + $21,498 related
    Nontaxable benefits
    $0 + $6,418 related
    Filer's total
    $0 + $266,196 related

  • Nick Rodriguez-Cayro

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE ORGANIZATION'S CEO IS PAID BY LECOM. LECOM USES THE FOLLOWING METHODS TO ESTABLISH THE COMPENSATION OF THE CEO: -COMPENSATION COMMITTEE -INDEPENDENT COMPENSATION CONSULTANT -FORM 990 OF OTHER ORGANIZATIONS -COMPENSATION SURVEY OR STUDY -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • MCH CORPORATION

    C · REAL ESTATE · PA

    Directly controlled by MILLCREEK HEALTH SYSTEM

  • CORRY HEALTH SERVICES INC

    C · HEALTH CARE · PA

    Directly controlled by CORRY MEMORIAL HOSPITAL ASSOCIATION

Provenance

Return type
form_990
Tax year
2022
Filed
17 October 2023
IRS schema version
2022v5.0
Source object
202332999349300143

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