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← GEISINGER INSURANCE CORPORATION RISK RETENTION GROUP

Form 990 for tax year 2024

Filed by GEISINGER INSURANCE CORPORATION RISK RETENTION GROUP.

Totals

Total revenue
$2,052,974
Total expenses
$1,667,180
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,005,769
Investment income
$47,205
Other revenue
$0
Total assets, end of year
$4,707,997
Total liabilities, end of year
$1,713,250
Net assets or fund balances, end of year
$2,994,747
Program services expenses (Part IX)
$1,581,344
Management and general expenses
$85,836
Fundraising expenses
$0
Program service expenses (Part III)
$1,581,344

Program services were 94.9% 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 $2,005,769 · related or exempt $2,005,440 · unrelated business $329

  • 3 · Investment income

    total $45,853 · excluded $45,853

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $1,352

  • 7c · Gain or loss

    securities $1,352

  • 7d · Net gain or loss

    total $1,352 · excluded $1,352

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $7,673 · program services $7,673

  • 11c · Fees: accounting

    total $164,760 · program services $81,743 · management and general $83,017

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $45,920 · program services $45,920

  • 11g · Fees: other

    total $43,547 · program services $40,728 · management and general $2,819

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: PREMIUM TAXES

    total $908,079 · program services $908,079

  • 24b · Other expenses: LOSS ADJUSTMENT EXPENSES

    total $500,000 · program services $500,000

  • 24c · Other expenses: UNRELATED BUSINESS INC. TAX

    total -$5,332 · program services -$5,332

  • 24d · Other expenses: LICENSES, FEES, AND DUES

    total $2,533 · program services $2,533

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $2,832,449 · end of year $3,256,311

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,246,011 · end of year $480,678

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $975,020 · end of year $970,928

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $1,344 · end of year $80

  • 17 · Accounts payable and accrued expenses

    beginning of year $957,765 · end of year $195,240

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $1,487,784 · end of year $1,518,010

  • 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 $1,260,000 · end of year $1,260,000

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,349,275 · end of year $1,734,747

Mission and programs · 2024

Mission

GEISINGER INSURANCE CORPORATION, RISK RETENTION GROUP PROVIDES COST EFFECTIVE LIABILITY INSURANCE OPTIONS TO ITS NONPROFIT MEMBERS IN ORDER TO FACILITATE THE ACHIEVEMENT OF THEIR MISSION.

Activities or mission (Part I)

GEISINGER INSURANCE CORPORATION, RISK RETENTION GROUP PROVIDES COST EFFECTIVE LIABILITY INSURANCE OPTIONS TO TO ITS NONPROFIT MEMBERS IN ORDER TO FACILITATE THE ACHIEVEMENT OF THE ACHIEVEMENT OF THEIR MISSION.

  • GEISINGER INSURANCE CORPORATION, RISK RETENTION GROUP (THE COMPANY) IS A SELF-INSURANCE FUNDING VEHICLE FOR AFFILIATED ENTITIES, AND AS SUCH AN INTEGRAL PART OF EACH OF THEIR NONPROFIT, CHARITABLE HEALTHCARE OPERATIONS. THE COMPANY WAS FORMED PRIMARILY TO ADDRESS THE LACK OF MEDICAL PROFESSIONAL LIABILITY COVERAGE IN THE COMMONWEALTH OF PENNSYLVANIA, AND TO ENABLE GEISINGER TO COMPLY WITH THE PENNSYLVANIA MEDICAL CARE AVAILABILITY AND REDUCTION OF ERROR ACT (MCARE) (1), WHICH REQUIRES PENNSYLVANIA PHYSICIANS AND HEALTHCARE INSTITUTIONS TO OBTAIN PRIMARY PROFESSIONAL LIABILITY COVERAGE FROM A QUALIFIED SELF-INSURANCE TRUST OR AN INSURER LICENSED TO PROVIDE SUCH LIABILITY COVERAGE IN PENNSLYVANIA. THE COMPANY IS ORGANIZED AND OPERATED AS A NONPROFIT MEMBERSHIP CORPORATION UNDER THE VERMONT NONPROFIT CORPORATION ACT, TITLE 11B OF THE VERMONT STATUES ANNOTATED. THE COMPANY'S MEMBERSHIP IS LIMITED TO THE FOLLOWING MEMBER ORGANIZATIONS OF GEISINGER, EACH OF WHICH IS INSURED BY THE COMPANY: GEISINGER MEDICAL CENTER GEISINGER COMMUNITY HEALTH SERVICES GEISINGER WYOMING VALLEY MEDICAL CENTER GEISINGER CLINIC COMMUNITY MEDICAL CENTER DBA: GEISINGER COMMUNITY MEDICAL CENTER GEISINGER-BLOOMSBURG HOSPITAL GEISINGER-LEWISTOWN HOSPITAL GEISINGER JERSEY SHORE HOSPITAL GEISINGER MEDICAL CENTER MUNCY THE COMPANY PROVIDES MEDICAL PROFESSIONAL LIABILITY COVERAGE EXCLUSIVELY TO THE GEISINGER 501(C)(3) MEMBER AFFILIATES.

    Expenses $1,581,344 · Revenue $2,005,769

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jaewon Ryu MD JD

    PRESIDENT, DIRECTOR

    Total calculated
    $14,295,895
    From this org
    $0
    From related orgs
    $8,428,472
    Other
    $5,867,423
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $2,822,318 related
    Bonus
    $0 + $3,931,000 related
    Other
    $0 + $1,675,154 related
    Deferred
    $0 + $5,848,696 related
    Nontaxable benefits
    $0 + $18,727 related
    Filer's total
    $0 + $14,295,895 related

  • Terry Gilliland MD

    PRESIDENT, DIRECTOR

    Total calculated
    $3,217,500
    From this org
    $0
    From related orgs
    $2,349,920
    Other
    $867,580
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $2,212,113 related
    Bonus
    $0
    Other
    $0 + $137,807 related
    Deferred
    $0 + $836,806 related
    Nontaxable benefits
    $0 + $30,774 related
    Filer's total
    $0 + $3,217,500 related

  • Kevin V Roberts MBA CPA

    DIRECTOR OF TREASURY

    Total calculated
    $2,751,325
    From this org
    $0
    From related orgs
    $2,685,093
    Other
    $66,232
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,749,843 related
    Bonus
    $0 + $525,000 related
    Other
    $0 + $410,250 related
    Deferred
    $0 + $24,306 related
    Nontaxable benefits
    $0 + $41,926 related
    Filer's total
    $0 + $2,751,325 related

  • James E Hartle MD

    VP, DIRECTOR

    Total calculated
    $1,976,986
    From this org
    $0
    From related orgs
    $1,912,326
    Other
    $64,660
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,384,763 related
    Bonus
    $0
    Other
    $0 + $527,563 related
    Deferred
    $0 + $24,306 related
    Nontaxable benefits
    $0 + $40,354 related
    Filer's total
    $0 + $1,976,986 related

  • Cindy Sheridan Esquire

    SECRETARY, DIRECTOR

    Total calculated
    $408,786
    From this org
    $0
    From related orgs
    $365,736
    Other
    $43,050
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $340,655 related
    Bonus
    $0
    Other
    $0 + $25,081 related
    Deferred
    $0 + $24,306 related
    Nontaxable benefits
    $0 + $18,744 related
    Filer's total
    $0 + $408,786 related

  • Tammy Leiby

    DIRECTOR

    Total calculated
    $394,276
    From this org
    $0
    From related orgs
    $342,156
    Other
    $52,120
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $333,409 related
    Bonus
    $0
    Other
    $0 + $8,747 related
    Deferred
    $0 + $24,071 related
    Nontaxable benefits
    $0 + $28,049 related
    Filer's total
    $0 + $394,276 related

  • Patti F Pallito

    FORMER OFFICER

    Total calculated
    $236,473
    From this org
    $0
    From related orgs
    $189,955
    Other
    $46,518
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $161,640 related
    Bonus
    $0 + $19,411 related
    Other
    $0 + $8,904 related
    Deferred
    $0 + $33,524 related
    Nontaxable benefits
    $0 + $12,994 related
    Filer's total
    $0 + $236,473 related

  • Edelyn Miller

    FORMER OFFICER

    Total calculated
    $103,645
    From this org
    $0
    From related orgs
    $103,645
    Other
    $0
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $103,645 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $103,645 related

  • Sheri Tremblay CPA Aiaf

    ASSISTANT SECRETARY, DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

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 - RELATED ORGANIZATION METHODS USED FOR COMP
THE ORGANIZATIONS EXECUTIVES ARE COMPENSATED BY RELATED ORGANIZATIONS. THE PROCESS TO REVIEW AND APPROVE THE COMPENSATION OF GEISINGER EMPLOYED BOARD DIRECTORS, OFFICERS, AND EXECUTIVE MANAGEMENT IS DESIGNED TO SATISFY THE REBUTTABLE PRESUMPTION PROCEDURE AVAILABLE FOR INTERMEDIATE SANCTION PURPOSES. THE PROCESS REQUIRES A REVIEW OF COMPENSATION DETERMINATIONS BY DISINTERESTED PARTIES, USE OF APPROPRIATE COMPARABILITY DATA AND CONTEMPORANEOUS DOCUMENTATION OF THE PROCESS. ON AN ANNUAL BASIS AN INDEPENDENT, NATIONALLY RECOGNIZED COMPENSATION CONSULTANT COMPLETES A COMPARATIVE ASSESSMENT OF COMPENSATION FOR THE CEO AND SENIOR MANAGEMENT WITHIN GEISINGER. THE CONSULTANT'S REPORT IS PRESENTED TO THE GEISINGER FAMILY COMMITTEE PRIOR TO ANY COMPENSATION ADJUSTMENT. THE REPORT SUPPORTS THE RIGOROUS REVIEW COMPLETED BY THE GEISINGER FAMILY COMMITTEE TO ENSURE THAT THE PROGRAM IS RESPONSIBLE TO THE GEISINGER CHARITABLE MISSION, REFLECTS REASONABLE COMPENSATION WITHIN THE NONPROFIT MARKET AND IS COMPLIANT WITH THE IRS'S INTERMEDIATE SANCTION REQUIREMENTS. THE SURVEY DATA IN THE COMPARATIVE ANALYSIS IS CAPTURED FOR FUNCTIONALLY COMPARABLE POSITIONS IN MULTIPLE SIMILAR NONPROFIT ORGANIZATIONS AND REFLECTS TOTAL REMUNERATION PROVIDED IN THE MARKET. ALL SURVEYS ARE CONDUCTED BY THIRD PARTY ORGANIZATIONS AND NOT CONDUCTED AT THE SPECIFIC DIRECTION OF GEISINGER. ANY COMPENSATION ADJUSTMENTS ARE APPROVED BY THE GEISINGER FAMILY COMMITTEE PRIOR TO THE EFFECTIVE DATE OF THE PAYMENT. THE GEISINGER FAMILY COMMITTEE AT ITS SOLE DISCRETION MAY POSITIVELY OR NEGATIVELY ADJUST ANY RECOMMENDED COMPENSATION.
PART I, LINE 4 - SEVERANCE, NONQUALIFIED, AND EQUITY-BASED PAYMENTS
SEVERANCE NONQUALIFIED EQUITY-BASED JAEWON RYU, MD, JD 0 1,479,829 0 EDELYN MILLER 0 103,645 0
PART I, LINE 4B - SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN
COMPENSATION FOR ELIGIBLE EMPLOYEES MAY BE DEFERRED TO A 457(F) NONQUALIFIED PLAN THAT VESTS WITH COMPLETION OF SERVICE, DEATH AND/OR PERMANENT DISABILITY.

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.

  • NXT CAP SR LOAN FUND I LLC

    N/A · INVESTMENT · DE · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • MAUI NUI ASC HOLDCO LLC

    N/A · HOLDING CO · HI · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • KEYSTONE ACCOUNTABLE CARE ORGANIZATION

    N/A · ACCOUNTABLE CARE · PA · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • NSC GREENSBORO WEST

    N/A · HEALTH CARE · AL · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • GEISINGER HM JOINT VENTURE LLC

    N/A · HEALTH CARE · PA · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • EVANGELICAL-GEISINGER HEALTH LLC

    N/A · HEALTH CARE · PA · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • GEISINGER ENCOMPASS HEALTH LLC

    N/A · HEALTH CARE · PA · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • KEYSTONE HEALTHCARE PARTNERSHIP LLC

    N/A · HEALTH CARE · PA · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • HTA HOLDINGS LLC

    N/A · HOLDING COMPANY · NC · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • CONE HEALTH VENTURES LLC

    N/A · INNOVATION · NC · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

Related corporations and trusts

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

  • OAK TREE ASSURANCE LTD

    C CORP · INSURANCE · VT · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • KAISER PERMANENTE INSURANCE COMPANY

    C CORP · INSURANCE · CA · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • KAISER PERMANENTE INTERNATIONAL

    C CORP · CONSULTING · CA · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • KFHP OF WASHINGTON OPTIONS INC

    C CORP · INSURANCE · WA · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • GROUP HEALTH OF WASHINGTON

    C CORP · INACTIVE · WA · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • GARFIELD HEALTH SOLUTIONS EAST PVT LTD

    C CORP · ADMIN · IN · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • GARFIELD HEALTH SOLUTIONS WEST SRL

    C CORP · ADMIN · CS · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • GEISINGER ASSURANCE COMPANY LTD

    C CORP · FINANCIAL · CJ · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • GEISINGER INDEMNITY INSURANCE COMPANY

    C CORP · INSURANCE · PA · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • GEISINGER QUALITY OPTIONS INC

    C CORP · INSURANCE · PA · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • ISS SOLUTIONS INC

    C CORP · CLIN ENGINEERING · PA · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • CARE N' CARE INSURANCE CO NORTH CAROLINA

    C CORP · INSURANCE · NC · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • WESLEY LONG COMMUNITY HEALTH SVCS INC

    C CORP · HEALTH CARE · NC · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • INSURANCE CASUALTY AND RISK ENTERPRISE

    C CORP · INSURANCE · CJ · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • PIEDMONT PRACTICE ASSOCIATES INC

    C CORP · HEALTH CARE · NC · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2024
Filed
11 November 2025
IRS schema version
2024v5.2
Source object
202523219349313987

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