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← ARIZONA CHILDRENS RISK SOLUTIONS

Form 990 for tax year 2022

Filed by ARIZONA CHILDRENS RISK SOLUTIONS.

Totals

Total revenue
$7,275,639
Total expenses
$3,513,396
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$7,267,267
Investment income
$8,372
Other revenue
$0
Total assets, end of year
$46,974,371
Total liabilities, end of year
$27,386,922
Net assets or fund balances, end of year
$19,587,449
Program services expenses (Part IX)
$3,432,487
Management and general expenses
$80,909
Fundraising expenses
$0
Program service expenses (Part III)
$3,432,487

Program services were 97.7% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: PREMIUM REVENUE

    total $7,267,267 · related or exempt $7,267,267

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $8,372 · excluded $8,372

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

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

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $66,085 · management and general $66,085

  • 11c · Fees: accounting

    total $9,137 · management and general $9,137

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $187 · management and general $187

  • 24a · Other expenses: CLAIMS EXPENSE

    total $3,432,487 · program services $3,432,487

  • 24b · Other expenses: LICENSES AND TAXES

    total $5,500 · management and general $5,500

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,440,052 · end of year $1,448,425

  • 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

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $40,805,753 · end of year $45,525,946

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,040,541 · end of year $3,617,185

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $21,380,058 · end of year $23,769,737

  • 27 · Net assets without donor restrictions

    beginning of year $15,825,206 · end of year $19,587,449

Mission and programs · 2022

Mission

SEE SCHEDULE O

Activities or mission (Part I)

PROVIDES CAPTIVE INSURANCE SERVICES TO PHOENIX CHILDREN'S HOSPITAL.

  • SEE SCHEDULE O

    Expenses $3,432,487 · Revenue $7,267,267

As filed on the 2022 return.

Listed in Part VII

  • Carmen Neuberger

    DIRECTOR/SECRETARY

    Total calculated
    $1,182,470
    From this org
    $0
    From related orgs
    $1,156,830
    Other
    $25,640
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $503,441 related
    Bonus
    $0 + $532,045 related
    Other
    $0 + $121,344 related
    Deferred
    $0 + $12,000 related
    Nontaxable benefits
    $0 + $13,640 related
    Filer's total
    $0 + $1,182,470 related

  • Dennis Bruns

    DIRECTOR/TREASURER (START 08/22)

    Total calculated
    $385,400
    From this org
    $0
    From related orgs
    $380,000
    Other
    $5,400
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $380,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,400 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $385,400 related

  • Kari Cornicelli

    DIRECTOR/TREASURER (TERMED 08/22)

    Total calculated
    $1,084,815
    From this org
    $0
    From related orgs
    $1,062,453
    Other
    $22,362
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $378,006 related
    Bonus
    $0 + $409,794 related
    Other
    $0 + $274,653 related
    Deferred
    $0 + $11,600 related
    Nontaxable benefits
    $0 + $10,762 related
    Filer's total
    $0 + $1,084,815 related

  • Robert L Meyer

    DIRECTOR/VICE PRESIDENT

    Total calculated
    $3,508,941
    From this org
    $0
    From related orgs
    $3,479,860
    Other
    $29,081
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,274,153 related
    Bonus
    $0 + $1,818,065 related
    Other
    $0 + $387,642 related
    Deferred
    $0 + $12,200 related
    Nontaxable benefits
    $0 + $16,881 related
    Filer's total
    $0 + $3,508,941 related

  • David Lenhardt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Jon Hulburd

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Michael L Ritchey

    DIRECTOR

    Total calculated
    $836,260
    From this org
    $0
    From related orgs
    $812,484
    Other
    $23,776
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $692,446 related
    Bonus
    $0 + $83,514 related
    Other
    $0 + $36,524 related
    Deferred
    $0 + $9,818 related
    Nontaxable benefits
    $0 + $13,958 related
    Filer's total
    $0 + $836,260 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

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
THE TOP MANAGEMENT OFFICIAL'S COMPENSATION IS SUBJECT TO REVIEW AND DETERMINATION BY THE COMPENSATION COMMITTEE OF THE RELATED TAX-EXEMPT ORGANIZATION, PHOENIX CHILDREN'S HOSPITAL (PCH). OTHER EMPLOYEES ARE SUBJECT TO THE HUMAN RESOURCE POLICIES, INCLUDING COMPENSATION ARRANGEMENTS, OF PCH. ARIZONA CHILDREN'S RISK SOLUTIONS DOES NOT HAVE ANY DIRECT EMPLOYEES. ALL PAYROLL IS CENTRALIZED THROUGH PCH (EIN 86-0422559).
Schedule J, Part I, Line 4a Severance or change-of-control payment
SEVERANCE PAYMENTS WERE MADE IN 2022 TO: KARI CORNICELLI - $183,558 THESE AMOUNTS ARE INCLUDED IN SCHEDULE J, PART II, COLUMN B(III) AS OTHER REPORTABLE COMPENSATION.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
PHOENIX CHILDREN'S HOSPITAL (PCH) OFFERS A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) TO CERTAIN EXECUTIVES OF THE ORGANIZATION. ELIGIBLE PARTICIPANTS ARE SELECTED BY THE PCH BOARD OF DIRECTORS. PARTICIPANT VESTING OCCURS UPON RETIREMENT, DISABILITY BEFORE SEPARATION, INVOLUNTARY SEPARATION (OTHER THAN FOR CAUSE) OR DEATH. THE FOLLOWING INDIVIDUAL PARTICIPATED IN THE SERP PLAN AND RECEIVED A TAXABLE SERP PAYOUT DURING 2022 THAT IS INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III) AS OTHER REPORTABLE COMPENSATION: ROBERT L. MEYER - $348,211 CARMEN NEUBERGER - $87,521 KARI CORNICELLI - $66,237
Schedule J, Part I, Line 7 NON-FIXED PAYMENTS
CERTAIN EXECUTIVES WERE ELIGIBLE FOR THE DISCRETIONARY EXECUTIVE INCENTIVE PLAN OF PHOENIX CHILDREN'S HOSPITAL IN WHICH ONE OF THE PERFORMANCE MEASURES WAS EARNINGS BEFORE INTEREST, DEPRECIATION AND AMORTIZATION. THIS INCENTIVE PLAN WAS APPROVED BY THE COMPENSATION COMMITTEE.
Schedule J, Part II ADDITIONAL INFORMATION
MICHAEL RITCHEY, MD RECEIVED COMPENSATION FOR MEDICAL SERVICES RENDERED IN THE CAPACITY OF STAFF PHYSICIAN FOR PHOENIX CHILDREN'S HOSPITAL, NOT FOR HIS DUTIES AS CURRENT BOARD MEMBER.

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.

  • PHX CHILDREN'S CARDIOLOGY DIAGNOSTICS LLC

    N/A · HEALTHCARE · AZ

    Directly controlled by NA

  • PHX CHILDREN'S PROPERTY DEVELOPMENT LLC

    N/A · HEALTHCARE · AZ

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2022
Filed
31 August 2023
IRS schema version
2022v5.0
Source object
202322439349301827

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