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← PARADIGM INDEMNITY CORPORATION

Form 990 for tax year 2023

Filed by PARADIGM INDEMNITY CORPORATION.

Totals

Total revenue
$12,887,110
Total expenses
$10,324,279
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$10,431,720
Investment income
$2,455,390
Other revenue
$0
Total assets, end of year
$58,412,860
Total liabilities, end of year
$18,689,511
Net assets or fund balances, end of year
$39,723,349
Program services expenses (Part IX)
$9,470,303
Management and general expenses
$853,976
Fundraising expenses
$0
Program service expenses (Part III)
$9,470,303

Program services were 91.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • DOUGLAS BOYSEN

    BOARD CHAIR / CEO SHS

    Total calculated
    $1,623,482
    From this org
    $0
    From related orgs
    $1,555,091
    Other
    $68,391
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,075,482 related
    Bonus
    $0 + $388,770 related
    Other
    $0 + $90,839 related
    Deferred
    $0 + $26,592 related
    Nontaxable benefits
    $0 + $41,799 related
    Filer's total
    $0 + $1,623,482 related

  • RANDY SPRINGER

    BRD VICE CHAIR & SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • DAVID TRIEBES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RALPH BREITENSTEIN MD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • KELLEY KAISER

    BOARD MEMBER / SVP CAO SHS

    Total calculated
    $583,787
    From this org
    $0
    From related orgs
    $517,020
    Other
    $66,767
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $399,610 related
    Bonus
    $0 + $94,085 related
    Other
    $0 + $23,325 related
    Deferred
    $0 + $26,592 related
    Nontaxable benefits
    $0 + $40,175 related
    Filer's total
    $0 + $583,787 related

  • NANCY SEIFERT PHD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • ROBERT TURNGREN MD

    BRD MBR / SVP CHIEF PHYS EXEC

    Total calculated
    $765,235
    From this org
    $0
    From related orgs
    $702,296
    Other
    $62,939
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $525,634 related
    Bonus
    $0 + $111,725 related
    Other
    $0 + $64,937 related
    Deferred
    $0 + $26,592 related
    Nontaxable benefits
    $0 + $36,347 related
    Filer's total
    $0 + $765,235 related

  • DANIEL SMITH

    TREASURER / SVP CFO SHS

    Total calculated
    $747,521
    From this org
    $0
    From related orgs
    $679,354
    Other
    $68,167
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $510,893 related
    Bonus
    $0 + $119,250 related
    Other
    $0 + $49,211 related
    Deferred
    $0 + $26,592 related
    Nontaxable benefits
    $0 + $41,575 related
    Filer's total
    $0 + $747,521 related

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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 CHIEF EXECUTIVE OFFICER IS EMPLOYED AND PAID BY A RELATED ORGANIZATION. THE RELATED ORGANIZATION CONDUCTS A COMPENSATION ANALYSIS EACH YEAR TO COMPARE COMPENSATION OF ALL PAID POSITIONS TO MARKET SURVEYS OF COMPENSATION FOR SIMILAR POSITIONS IN OTHER ORGANIZATIONS. PERIODICALLY, THE RELATED ORGANIZATION WILL ALSO USE WRITTEN EMPLOYMENT CONTRACTS, FORM 990 OF OTHER ORGANIZATIONS, AND INDEPENDENT COMPENSATION CONSULTANTS TO DETERMINE THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER.
PART I, LINE 4B
LINE 4B: A RELATED ORGANIZATION MAINTAINS SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS. HOWEVER, NO PERSONS LISTED IN PART VII OF FORM 990 ACCRUED DEFERRED COMPENSATION BENEFITS OR RECEIVED ANY PAYMENTS FROM THESE PLANS DURING THE FILING YEAR.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202433179349304963

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