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Nonprofiteer
← SUTTER INSURANCE SERVICES CORPORATION

Form 990 for tax year 2024

Filed by SUTTER INSURANCE SERVICES CORPORATION.

Totals

Total revenue
$119,794,155
Total expenses
$55,819,861
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$90,167,819
Investment income
$29,233,821
Other revenue
$392,515
Total assets, end of year
$449,150,810
Total liabilities, end of year
$223,784,521
Net assets or fund balances, end of year
$225,366,289
Program services expenses (Part IX)
$53,402,059
Management and general expenses
$2,417,802
Fundraising expenses
$0
Program service expenses (Part III)
$53,402,059

Program services were 95.7% 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: PREMIUM REVENUE

    total $90,167,819 · related or exempt $90,167,819

  • 3 · Investment income

    total $12,192,656 · excluded $12,192,656

  • 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 $17,041,165

  • 7c · Gain or loss

    securities $17,041,165

  • 7d · Net gain or loss

    total $17,041,165 · excluded $17,041,165

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $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

  • 11a · Other revenue: UBI MALPRACTICE/D&O/MED STOP LOSS

    total $392,515 · unrelated business $392,515

  • 11e · Other revenue, total

    $392,515

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 $15,730 · management and general $15,730

  • 11c · Fees: accounting

    total $33,077 · management and general $33,077

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $491,200 · management and general $491,200

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $508 · management and general $508

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $136,931 · program services $136,931

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $17,130 · program services $17,130

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $87,669 · management and general $87,669

  • 24a · Other expenses: LOSS AND LOSS ADJUSTMENT

    total $34,641,647 · program services $34,641,647

  • 24b · Other expenses: PURCHASED SERVICES

    total $11,021,720 · program services $9,233,692 · management and general $1,788,028

  • 24c · Other expenses: REINSURANCE

    total $9,252,379 · program services $9,252,379

  • 24d · Other expenses: LICENSE AND TAXES

    total $120,580 · program services $120,280 · management and general $300

  • 24e · All other expenses

    total $1,290 · management and general $1,290

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 $44,172,334 · end of year $41,492,121

  • 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 $339,844 · end of year $339,844

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $343,555,127 · end of year $395,477,338

  • 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 $6,214,046 · end of year $11,841,507

  • 17 · Accounts payable and accrued expenses

    beginning of year $407,781 · end of year $591,449

  • 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 $232,481,575 · end of year $223,193,072

  • 27 · Net assets without donor restrictions

    beginning of year $161,391,995 · end of year $225,366,289

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2024

Mission

SEE SCHEDULE O

  • PROGRAM SERVICE ACCOMPLISHMENTS: The principal activity of Sutter Insurance Services Corporation (SISCO) is to provide support and benefits to Sutter Health and its affiliates. SISCO does this by providing insurance and risk management services and serving as a repository for funds paid in by Sutter Health and its affiliates for the purpose of self-insuring. SISCO is operated as an integral part of and performs an essential function for Sutter Health and its affiliates.

    Expenses $53,402,059 · Revenue $90,167,819

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

Listed in Part VII

  • Warner Thomas

    PRESIDENT & CEO SH/Chair SISCO

    Total calculated
    $11,904,420
    From this org
    $0
    From related orgs
    $11,323,734
    Other
    $580,686
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $2,589,728 related
    Bonus
    $0 + $8,687,254 related
    Other
    $0 + $46,752 related
    Deferred
    $0 + $476,257 related
    Nontaxable benefits
    $0 + $104,429 related
    Filer's total
    $0 + $11,904,420 related

  • Florence Di Benedetto

    FORMER SH SVP/GENERAL COUNSEL

    Total calculated
    $1,377,385
    From this org
    $0
    From related orgs
    $1,377,385
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0 + $438,748 related
    Other
    $0 + $938,637 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $1,377,385 related

  • Caren Weakley

    SVP, Gen CNCL/Sec SISCO(pt-yr)

    Total calculated
    $1,337,038
    From this org
    $0
    From related orgs
    $1,302,647
    Other
    $34,391
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $779,185 related
    Bonus
    $0 + $500,000 related
    Other
    $0 + $23,462 related
    Deferred
    $0 + $6,657 related
    Nontaxable benefits
    $0 + $27,734 related
    Filer's total
    $0 + $1,337,038 related

  • Raju Iyer

    SH SVP, CFO

    Total calculated
    $1,311,542
    From this org
    $0
    From related orgs
    $1,278,214
    Other
    $33,328
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $951,413 related
    Bonus
    $0 + $300,000 related
    Other
    $0 + $26,801 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $33,328 related
    Filer's total
    $0 + $1,311,542 related

  • Pam Marino

    SH VP, CLO / Sec SISCO (pt-yr)

    Total calculated
    $1,059,335
    From this org
    $0
    From related orgs
    $996,179
    Other
    $63,156
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $489,345 related
    Bonus
    $0 + $446,180 related
    Other
    $0 + $60,654 related
    Deferred
    $0 + $45,900 related
    Nontaxable benefits
    $0 + $17,256 related
    Filer's total
    $0 + $1,059,335 related

  • Sarah Krevans

    EMERITUS CEO, SUTTER HEALTH

    Total calculated
    $880,981
    From this org
    $0
    From related orgs
    $880,981
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $880,981 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $880,981 related

  • Gena Peyton

    SH VP, CRO/Pres. SISCO

    Total calculated
    $827,307
    From this org
    $0
    From related orgs
    $531,857
    Other
    $295,450
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $347,004 related
    Bonus
    $0 + $178,818 related
    Other
    $0 + $6,035 related
    Deferred
    $0 + $258,994 related
    Nontaxable benefits
    $0 + $36,456 related
    Filer's total
    $0 + $827,307 related

  • Dominic Nakis

    SH Interim CFO

    Total calculated
    $619,278
    From this org
    $0
    From related orgs
    $619,278
    Other
    $0
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $619,278 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $619,278 related

  • Susan Burchiel

    CFO, SISCO

    Total calculated
    $410,672
    From this org
    $0
    From related orgs
    $321,489
    Other
    $89,183
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $265,852 related
    Bonus
    $0 + $46,831 related
    Other
    $0 + $8,806 related
    Deferred
    $0 + $54,258 related
    Nontaxable benefits
    $0 + $34,925 related
    Filer's total
    $0 + $410,672 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

  • 1a · First-class or charter travel
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 1a
FIRST-CLASS TRAVEL: CERTAIN OFFICERS AND BOARD MEMBERS OF SISCO MAY UPGRADE TO FIRST-CLASS TRAVEL AS BUSINESS NEED DICTATES. UPGRADES ARE CONSIDERED A NECESSARY BUSINESS EXPENSE.
SCHEDULE J, PART I, LINE 3
SUPPLEMENTAL COMPENSATION INFORMATION: THE COMPENSATION COMMITTEE OF THE SUTTER HEALTH BOARD OF DIRECTORS RETAINS ULTIMATE DISCRETIONARY AUTHORITY OVER ALL ELEMENTS OF COMPENSATION TO ASSURE THAT ORGANIZATIONAL PURPOSES ARE APPROPRIATELY BEING SERVED. THE COMPENSATION COMMITTEE USES CREDIBLE INDEPENDENT DATA SOURCES AND MAINTAINS AN OBJECTIVE "ARMS LENGTH" DECISION-MAKING PROCESS, ENSURING THE INTEGRITY OF SUTTER'S EXECUTIVE PROGRAMS AND CONSISTENCY WITH THE ORGANIZATION'S OVERALL MISSION. SEE SCHEDULE O NARRATIVE FOR PART VI, LINE 15 FOR A FULL DESCRIPTION OF THE COMPENSATION APPROVAL PROCESS COMPLETED BY SUTTER HEALTH.
SCHEDULE J, PART I, LINE 4A
SEVERANCE PAYMENTS: FLORENCE DI BENEDETTO RECEIVED SEVERANCE PAYMENTS OF $899,995.
SCHEDULE J, PART I, LINE 4B
NONQUALIFIED RETIREMENT PLAN: THE PURPOSE OF THE NONQUALIFIED RETIREMENT PLAN IS TO PROVIDE SUTTER HEALTH EXECUTIVES WITH A COMPETITIVE RETIREMENT BENEFIT CONSISTENT WITH SUTTER HEALTH'S OVERALL COMPENSATION PHILOSOPHY FOR ALL EMPLOYEES. CONTRIBUTIONS ARE DESIGNED TAKING INTO CONSIDERATION LOST RETIREMENT BENEFITS THAT WOULD OTHERWISE BE OBTAINED THROUGH THE QUALIFIED PENSION PLAN AND SOCIAL SECURITY BENEFITS. SUTTER'S PLANS ARE DESIGNED CONSISTENT ITH COMPETITIVE INDUSTRY PRACTICES. THE RETIREMENT PLAN FOR SUTTER HEALTH EMPLOYEES IS A COMBINATION OF 403(B) EMPLOYER MATCH CONTRIBUTIONS AND QUALIFIED PENSION PLAN BENEFITS. SUTTER HEALTH EXECUTIVES ARE GENERALLY INELIGIBLE FOR EMPLOYER MATCH CONTRIBUTIONS. TO ENSURE A COMPETITIVE RETIREMENT BENEFIT, SUTTER HEALTH MAKES AN ANNUAL CONTRIBUTION TO A NON-QUALIFIED 457(F) PLAN FOR ITS EXECUTIVES. THE FORMULA PROVIDES 6% TO 16% OF BASE SALARY PLUS ANNUAL INCENTIVE PLAN AWARD (COMMENSURATE WITH MANAGEMENT LEVEL). UNLIKE SUTTER HEALTH'S QUALIFIED PENSION PLAN WHERE EMPLOYEE BENEFITS ARE GUARANTEED (I.E., A DEFINED BENEFIT), SUTTER'S NON-QUALIFIED PLAN BENEFITS ARE NOT GUARANTEED BY SUTTER HEALTH. INVESTMENT RISK IS BORNE BY PARTICIPANTS AND BENEFITS ARE NOT PROTECTED SHOULD SUTTER HEALTH BECOME INSOLVENT.
SCHEDULE J, PART I, LINE 7
NON-FIXED PAYMENTS: SPOT AWARDS ARE INFREQUENTLY USED TO REWARD EMPLOYEES. THERE ARE NO SPECIFIC GUIDELINES FOR THE AMOUNT OF THE SPOT AWARD, AVERAGE AMOUNT OF SPOT AWARDS TEND TO NOT EXCEED 5% TO 15% OF GROSS ANNUAL SALARY. ANNUAL INCENTIVE PLAN (AIP): THE PURPOSE OF THE PLAN IS TO FOCUS EXECUTIVES ON SPECIFIC, SHORTER-TERM GOALS THAT ARE CRITICAL TO THE ACHIEVEMENT OF AFFILIATE, OPERATING UNIT AND SYSTEM-WIDE OBJECTIVES THAT DRIVE OVERALL ORGANIZATION PERFORMANCE. LONG TERM PERFORMANCE PLANS: SUTTER HEALTH ALSO EMPLOYS A LONG TERM PERFORMANCE PLAN WHICH IS DESIGNED TO FOCUS ON LONGER TERM STRATEGIC OBJECTIVES OF THE ORGANIZATION. SUTTER'S LONG TERM PERFORMANCE PLAN APPROACH IS A COMBINATION OF BOTH LONGER TERM MEASURES OF ORGANIZATION SUCCESS AND KEY ORGANIZATION STRATEGIES WHICH REQUIRE THE COMBINED EFFORT OF ALL LEADERSHIP TO ACHIEVE SUCCESS. SUTTER USES A COMMON FATE APPROACH IN THAT ALL LONG TERM PERFORMANCE PLAN PARTICIPANTS ARE MEASURED AGAINST THE SAME, ORGANIZATION-WIDE CRITERIA VS. INDIVIDUAL EFFORTS. THIS FOSTERS A COMMON PURPOSE ACROSS LEADERSHIP AND A SHARED SENSE OF ACCOUNTABILITY FOR THE OVERALL SUCCESS OF SUTTER HEALTH. IN ALL CASES, THE COMPENSATION COMMITTEE OF THE BOARD DETERMINES ACHIEVEMENT OF ORGANIZATION GOALS AND MAKES FINAL AWARD DETERMINATION WHICH MAY RESULT IN A REDUCTION OF AWARD IF APPROPRIATE. ALL SENIOR EXECUTIVE AWARDS ARE REVIEWED FOR COMPENSATION REASONABLENESS AND APPROVED BY THE COMPENSATION COMMITTEE PRIOR TO PAYMENT.

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.

  • SURGERY CENTER OF ABSMC

    PATIENT CARE · CA

    Directly controlled by NA

  • CALIFORNIA PACIFIC ADV IMAGING LLC

    PATIENT CARE · CA

    Directly controlled by NA

  • SAN FRANCISCO ENDOSCOPY CENTER

    PATIENT CARE · CA

    Directly controlled by NA

  • SUTTER FAIRFIELD SURGERY CENTER LLC

    PATIENT CARE · CA

    Directly controlled by NA

  • SUTTER AMADOR SURGERY CENTER LLC

    PATIENT CARE · CA

    Directly controlled by NA

  • ROSEVILLE ENDOSCOPY CENTER

    PATIENT CARE · CA

    Directly controlled by NA

  • MEMORIAL MEDICAL BUILDING

    OFFICE RENTAL · CA

    Directly controlled by NA

  • MAGNETIC IMAGING AFFILIATES LLC

    PATIENT CARE · CA

    Directly controlled by NA

  • ASC OPERATORS - SANTA ROSA LLC

    CARE MANAGEMENT · CA

    Directly controlled by NA

  • ASC OPTRS - SLO LLC

    CARE MANAGEMENT · CA

    Directly controlled by NA

  • DIVISADERO HOLDINGS LLC

    CARE MANAGEMENT · CA

    Directly controlled by NA

  • Peninsula Endoscopy Center LLC

    Patient Care · CA

    Directly controlled by NA

  • South Placer Surgery Center

    Patient Care · CA

    Directly controlled by NA

  • Sacramento Surgery Center Associates LP

    Patient Care · CA

    Directly controlled by NA

  • Fort Sutter Surgery Center

    Patient Care · CA

    Directly controlled by NA

  • Sutter Alhambra Surgery Center

    Patient Care · CA

    Directly controlled by NA

  • Auburn Surgical Center

    Patient Care · CA

    Directly controlled by NA

  • ASC Operators LLC

    Care Management · CA

    Directly controlled by NA

  • D E SHAW ALL COUNTRY GLOBAL ALPHA PLUS

    Investment · DE

    Directly controlled by NA

  • ICG CREDIT OPPORTUNITIES FUND 1A LP

    Investment · DE

    Directly controlled by NA

  • ICG CREDIT OPPORTUNITIES FUND 2A LP

    Investment · DE

    Directly controlled by NA

  • MAKENA REAL ESTATE II LP

    Investment · CJ

    Directly controlled by NA

  • D E SHAW ALL COUNTRY GLOBAL ALPHA LL

    Investment · DE

    Directly controlled by NA

  • ICG SPECIAL OPPORTUNITIES FUND I LP

    Investment · DE

    Directly controlled by NA

  • TAP CMDITYBLDR FUND

    INVESTMENT · NY

    Directly controlled by NA

  • MAKENA STRATEGIC OPPORTUNITIES FUND - SH

    INVESTMENT · DE

    Directly controlled by NA

  • EHC SURGERY CENTER

    PATIENT CARE · CA

    Directly controlled by NA

  • ICG CREDIT OPP FUND

    INVESTMENT · DE

  • CARLSBAD SURG CTR

    PATIENT CARE · CA

  • AG Net Lease Realty Fund V-QTE

    INVESTMENT · CA

    Directly controlled by NA

Related corporations and trusts

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

  • SUTTER HEALTH DEFERRED COMP PLANS' TRUST

    TRUST · RABBI TRUST · CA · controlled entity

    Directly controlled by NA

  • NORTHWOOD EUROPE TE FEEDER LP

    C CORP · HOLDING COMPANY · CJ · controlled entity

    Directly controlled by NA

  • WILSOP SEGREGATED PORTFOLIO 1

    C CORP · INVESTMENT · CJ · controlled entity

    Directly controlled by NA

  • WILSOP SEGREGATED PORTFOLIO 2

    C CORP · INVESTMENT · CJ · controlled entity

    Directly controlled by NA

  • BRIGADE LEVERAGED CAPITAL STRUCTURE OFFS

    C Corp · Investment · CJ · controlled entity

    Directly controlled by NA

  • AQR MULTI-STRATEGY FUND XXIII LP

    C CORP · INVESTMENT · CJ · controlled entity

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2024
Filed
6 November 2025
IRS schema version
2024v5.2
Source object
202533179349310198

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