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← HOMEWOOD INSURANCE COMPANY INC

Form 990 for tax year 2024

Filed by HOMEWOOD INSURANCE COMPANY INC.

Totals

Total revenue
$2,708,197
Total expenses
$257,738
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,430,482
Investment income
$277,715
Other revenue
$0
Total assets, end of year
$12,472,061
Total liabilities, end of year
$5,132,924
Net assets or fund balances, end of year
$7,339,137
Program services expenses (Part IX)
$133,333
Management and general expenses
$124,405
Fundraising expenses
$0
Program service expenses (Part III)
$133,333

Program services were 51.7% 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: DIRECT PREMIUMS

    total $2,430,482 · related or exempt $2,430,482

  • 3 · Investment income

    total $277,715 · excluded $277,715

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $66,167 · management and general $66,167

  • 11b · Fees: legal

    total $2,079 · management and general $2,079

  • 11c · Fees: accounting

    total $15,000 · management and general $15,000

  • 11g · Fees: other

    total $173,601 · program services $133,333 · management and general $40,268

  • 24a · Other expenses: BANK CHARGES

    total $500 · management and general $500

  • 24b · Other expenses: MISCELLANEOUS EXPENSE

    total $391 · management and general $391

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,789,849 · end of year $2,559,369

  • 2 · Savings and temporary cash investments

    beginning of year $6,236,216 · end of year $9,012,017

  • 4 · Accounts receivable

    beginning of year $976,503 · end of year $885,799

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,000 · end of year $11,333

  • 15 · Other assets

    beginning of year $3,906 · end of year $3,543

  • 17 · Accounts payable and accrued expenses

    beginning of year $67,423 · end of year $34,717

  • 25 · Other liabilities

    beginning of year $5,061,373 · end of year $5,098,207

  • 29 · Capital stock, trust principal or current funds

    beginning of year $250,000 · end of year $250,000

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

    beginning of year $250,000 · end of year $250,000

  • 31 · Retained earnings, endowment or other funds

    beginning of year $4,388,678 · end of year $6,839,137

Mission and programs · 2024

Mission

OUR MISSION IS "DELIVERING CARE THAT CHANGES PEOPLE'S LIVES"

Activities or mission (Part I)

"DELIVERING CARE THAT CHANGES PEOPLE'S LIVES"

  • HOMEWOOD INSURANCE COMPANY, INC. WAS FORMED IN JUNE 2021 AS A CAPTIVE INSURANCE COMPANY SOLELY OWNED BY CENTERSTONE OF AMERICA, INC. CENTERSTONE WILL UTILIZE THE CAPTIVE PRIMARILY AS A FORMALIZED FUNDING MECHANISM TO FACILITATE A GRADUAL INCREASE IN SELF-INSURED RETENTION THEREBY REDUCING THE COMPANY'S RELIANCE ON COMMERCIAL COVERAGE TO THE HIGHER, NON-WORKING LOSS EXPOSURE LAYERS. THE CAPTIVE WILL BE UTILIZED TO FUND THE COMPANY'S SELF-INSURED EXPOSURES FOR ITS MEDICAL PROFESSIONAL, GENERAL AND AUTOMOBILE LIABILITY PROGRAMS.

    Expenses $133,333 · Revenue $2,430,482

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

Listed in Part VII

  • David C Guth Jr

    PRESIDENT/CEO/DIRECTOR

    Total calculated
    $836,071
    From this org
    $0
    From related orgs
    $814,441
    Other
    $21,630
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $756,750 related
    Bonus
    $0
    Other
    $0 + $57,691 related
    Deferred
    $0 + $20,700 related
    Nontaxable benefits
    $0 + $930 related
    Filer's total
    $0 + $836,071 related

  • Carol Bean

    SECRETARY/DIRECTOR

    Total calculated
    $421,456
    From this org
    $0
    From related orgs
    $396,826
    Other
    $24,630
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $332,268 related
    Bonus
    $0 + $47,677 related
    Other
    $0 + $16,881 related
    Deferred
    $0 + $20,700 related
    Nontaxable benefits
    $0 + $3,930 related
    Filer's total
    $0 + $421,456 related

  • Jason Palmer

    ASSISSTANT SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jack Wallace

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kevin Norton

    BOARD DIRECTOR

    Total calculated
    $604,550
    From this org
    $0
    From related orgs
    $586,887
    Other
    $17,663
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $501,425 related
    Bonus
    $0 + $30,000 related
    Other
    $0 + $55,462 related
    Deferred
    $0 + $16,733 related
    Nontaxable benefits
    $0 + $930 related
    Filer's total
    $0 + $604,550 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

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

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.

  • AMY'S CROSSING INC

    501(C)(3) · PROVIDE HOUSING FOR THE DISABLED · IL

    Directly controlled by CENTERSTONE OF ILLINOIS

  • ASPEN HOUSE INC

    501(C)(3) · PROVIDE LOW INCOME HOUSING · IN

    Directly controlled by CENTERSTONE OF INDIANA

  • CEDAR VIEW INC

    501(C)(3) · PROVIDE LOW INCOME HOUSING · IN

    Directly controlled by CENTERSTONE OF INDIANA

  • CENTERSTONE FOUNDATION

    501(C)(3) · SUPPORT FOR CENTERSTONE OF AMERICA'S CONTROLLED ORGANIZATIONS · TN

    Directly controlled by CENTERSTONE OF INDIANA

  • CENTERSTONE HEALTH SERVICES

    501(C)(3) · PROVIDE HEALTHCARE FOR AT-RISK INDIVIDUALS · IN

    Directly controlled by CENTERSTONE OF INDIANA

  • CENTERSTONE HOUSING RESOURCES

    501(C)(3) · OWN AND OPERATE GROUP HOMES · TN

    Directly controlled by CENTERSTONE OF TENNESSEE

  • CENTERSTONE MILITARY SERVICES

    501(C)(3) · PROVIDE MENTAL HEALTH SERVICES · TN

    Directly controlled by CENTERSTONE OF AMERICA

  • CENTERSTONE OF AMERICA

    HOLDING COMPANY · TN

  • CENTERSTONE OF FLORIDA

    501(C)(3) · PROVIDE MENTAL HEALTH SERVICES · FL

    Directly controlled by CENTERSTONE OF AMERICA

  • CENTERSTONE OF ILLINOIS INC

    501(C)(3) · PROVIDE MENTAL HEALTH SERVICES · IL

    Directly controlled by CENTERSTONE OF AMERICA

  • CENTERSTONE OF INDIANA

    501(C)(3) · PROVIDE MENTAL HEALTH SERVICES · IN

    Directly controlled by CENTERSTONE OF AMERICA

  • CENTERSTONE OF TENNESSEE

    501(C)(3) · PROVIDE MENTAL HEALTH SERVICES · TN

    Directly controlled by CENTERSTONE OF AMERICA

  • CENTERSTONE RESEARCH INSTITUTE

    501(C)(3) · RESEARCH RELATED TO MENTAL HEALTH · TN

    Directly controlled by CENTERSTONE OF AMERICA

  • CUMBERLAND HOLDING CORPORATION

    501(C)(3) · PROVIDE LOW INCOME HOUSING · TN

    Directly controlled by CENTERSTONE OF TENNESSEE

  • DOGWOOD PLACE INC

    501(C)(3) · PROVIDE LOW INCOME HOUSING · IN

    Directly controlled by CENTERSTONE OF INDIANA

  • FRANKLIN-WILLIAMSON PROPERTIES INC

    501(C)(2) · REAL ESTATE HOLDING COMPANY FOR CENTERSTONE OF ILLINOIS · IL

    Directly controlled by CENTERSTONE OF ILLINOIS

  • F-W RESIDENTIAL PROPERTIES INC

    501(C)(3) · PROVIDE LOW INCOME HOUSING · IL

    Directly controlled by CENTERSTONE OF ILLINOIS

  • HEMPEL HOUSE INC

    501(C)(3) · PROVIDE HOUSING FOR THE DISABLED · IL

    Directly controlled by CENTERSTONE OF ILLINOIS

  • INDEPENDENT LIVING ALTERNATIVES INC

    501(C)(3) · PROVIDE LOW INCOME HOUSING · IN

    Directly controlled by CENTERSTONE OF INDIANA

  • INDIANA HOUSE INC

    501(C)(3) · PROVIDE LOW INCOME HOUSING · IN

    Directly controlled by CENTERSTONE OF INDIANA

  • MAPLEVIEW INC

    501(C)(3) · PROVIDE LOW INCOME HOUSING · IN

    Directly controlled by CENTERSTONE OF INDIANA

  • MHC DEVELOPMENT COMPANY INC

    501(C)(3) · PROVIDE HOUSING FOR THE DISABLED · IL

    Directly controlled by CENTERSTONE OF ILLINOIS

  • MILESTONE APARTMENTS INC

    501(C)(3) · PROVIDE LOW INCOME HOUSING · IL

    Directly controlled by CENTERSTONE OF ILLINOIS

  • OAKVIEW INC

    501(C)(3) · PROVIDE LOW INCOME HOUSING · IN

    Directly controlled by CENTERSTONE OF INDIANA

  • PINEVIEW INC

    501(C)(3) · PROVIDE LOW INCOME HOUSING · IN

    Directly controlled by CENTERSTONE OF INDIANA

  • RED OAK INDUSTRIES

    501(C)(3) · SUPPORTIVE EMPLOYMENT COMPANY FOR IN CMHC · IN

    Directly controlled by CENTERSTONE OF INDIANA

  • THEODORO PLACE

    501(C)(3) · PROVIDE LOW INCOME HOUSING · IL

    Directly controlled by CENTERSTONE OF ILLINOIS

  • WILLOWVIEW INC

    501(C)(3) · PROVIDE LOW INCOME HOUSING · IN

    Directly controlled by CENTERSTONE OF INDIANA

  • YAKUBIAN HOMES INC

    501(C)(3) · PROVIDE HOUSING FOR THE DISABLED · IL

    Directly controlled by CENTERSTONE OF ILLINOIS

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.

  • CENTERSTONE HEALTH PARTNERS INC

    C · MANAGEMENT COMPANY · TN

    Directly controlled by CENTERSTONE OF AMERICA

Provenance

Return type
form_990
Tax year
2024
Filed
19 December 2025
IRS schema version
2024v5.2
Source object
202543539349300419

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