Form 990 for tax year 2024
Filed by ACADEMIC PHYSICIANS INSURANCECOMPANY.
Totals
- Total revenue
- $31,764,025
- Total expenses
- $26,083,593
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $27,033,431
- Investment income
- $4,730,594
- Other revenue
- $0
- Total assets, end of year
- $114,343,268
- Total liabilities, end of year
- $86,384,815
- Net assets or fund balances, end of year
- $27,958,453
- Program services expenses (Part IX)
- $25,600,320
- Management and general expenses
- $483,273
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $25,600,320
Program services were 98.1% 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 $27,033,431 · related or exempt $27,033,431
-
3 · Investment income
total $2,600,945 · excluded $2,600,945
-
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 $57,880,263
-
7b · Less cost or other basis and sales expenses
securities $55,750,614
-
7c · Gain or loss
securities $2,129,649
-
7d · Net gain or loss
total $2,129,649 · excluded $2,129,649
-
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 $413,608 · program services $310,205 · management and general $103,403 · fundraising $0
-
11b · Fees: legal
total $12,868 · program services $0 · management and general $12,868 · fundraising $0
-
11c · Fees: accounting
total $61,367 · program services $0 · management and general $61,367 · fundraising $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $42,137 · program services $0 · management and general $42,137 · fundraising $0
-
11g · Fees: other
total $250,692 · program services $95,304 · management and general $155,388 · fundraising $0
-
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 $15,913 · program services $15,913 · management and general $0 · fundraising $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 · management and general $0 · fundraising $0
-
24a · Other expenses: LOSSES AND EXPENSES
total $25,178,898 · program services $25,178,898 · management and general $0 · fundraising $0
-
24b · Other expenses: PREMIUM TAXES
total $107,075 · program services $0 · management and general $107,075 · fundraising $0
-
24c · Other expenses: DUES AND SUBSCRIPTIONS
total $1,035 · program services $0 · management and general $1,035 · fundraising $0
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 $3,663,081 · end of year $24,943,993
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $6,684,604 · end of year $7,171,711
-
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 $69,857 · end of year $91,282
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
11 · Investments: publicly traded securities
beginning of year $65,577,364 · end of year $63,353,400
-
12 · Investments: other securities
beginning of year $7,508,520 · 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 $28,702,689 · end of year $18,782,882
-
17 · Accounts payable and accrued expenses
beginning of year $371,646 · end of year $499,554
-
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 $90,885,428 · end of year $85,885,261
-
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 $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $20,949,041 · end of year $27,958,453
Mission and programs · 2024
Mission
THE COMPANY IS ORGANIZED AND OPERATED FOR THE EXCLUSIVE PURPOSE OF SUPPORTING THE UNIVERSITY OF OKLAHOMA'S & ITS AFFILIATED ENTITIES ACADEMIC, EDUCATIONAL, RESEARCH, CLINICAL CARE, AND INDIGENT CARE MISSIONS. ACCORDINGLY, ITS SERVICES ARE LIMITED TO PROVIDING PROFESSIONAL, GENERAL, AND OTHER INSURANCE COVERAGE AND RELATED SERVICES TO THE UNIVERSITY AND ITS AFFILIATES.
Activities or mission (Part I)
THE ORGANIZATION SUPPORTS THE UNIVERSITY OF OKLAHOMA & AFFILIATED ENTITIES.
-
ACADEMIC PARTNERS INSURANCE COMPANY PROVIDES COVERAGE TO MEDICAL PROFESSIONALS AND RELATED HOSPITAL ENTITIES OF THE UNIVERSITY OF OKLAHOMA, A TAX-EXEMPT ORGANIZATION. THE INSURANCE COVERAGES PROVIDED ASSIST THE UNIVERSITY AND HOSPITAL SYSTEM IN STABILIZING THEIR INSURANCE COSTS. THE UNIVERSITY OF OKLAHOMA IS OKLAHOMA'S PREMIER HIGHER EDUCATION INSTITUTION, AND WITH ITS RELATED HOSPITAL PARTNER, SERVES THE EDUCATIONAL AND HEALTH CARE NEEDS OF THE STATE AND SURROUNDING REGIONS. ACADEMIC PARTNERS INSURANCE COMPANY PROVIDES COVERAGE RELATED TO LIABILITY OF FACULTY PHYSICIANS, RESIDENT PHYSICIANS, MID-LEVELS AND STUDENTS, AS WELL AS A LARGE ACADEMIC HOSPITAL SYSTEM. COSTS ASSOCIATED WITH PROVIDING INSURANCE COVERAGES ARE IN FURTHERANCE OF THE ORGANIZATION'S TAX-EXEMPT PURPOSE OF SUPPORTING THE UNIVERSITY OF OKLAHOMA.
Expenses $25,600,320 · Revenue $27,033,431
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
James M WatsonJAMES M WATSON
DIRECTOR
- Total calculated
- $1,131,870
- From this org
- $0
- From related orgs
- $1,060,136
- Other
- $71,734
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $701,182 related
- Bonus
- $0 + $347,564 related
- Other
- $0 + $11,390 related
- Deferred
- $0 + $51,051 related
- Nontaxable benefits
- $0 + $20,683 related
- Filer's total
- $0 + $1,131,870 related
-
Michael S CooksonMICHAEL S COOKSON
MANAGING DIRECTOR
- Total calculated
- $1,022,783
- From this org
- $0
- From related orgs
- $954,883
- Other
- $67,900
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $393,527 related
- Bonus
- $0 + $557,000 related
- Other
- $0 + $4,356 related
- Deferred
- $0 + $53,775 related
- Nontaxable benefits
- $0 + $14,125 related
- Filer's total
- $0 + $1,022,783 related
-
Paul NeimeyerPAUL NEIMEYER
DIRECTOR
- Total calculated
- $627,712
- From this org
- $0
- From related orgs
- $574,212
- Other
- $53,500
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $474,863 related
- Bonus
- $0 + $90,560 related
- Other
- $0 + $8,789 related
- Deferred
- $0 + $53,500 related
- Nontaxable benefits
- $0
- Filer's total
- $0 + $627,712 related
-
Carolyn KloekCAROLYN KLOEK
DIRECTOR
- Total calculated
- $581,447
- From this org
- $0
- From related orgs
- $535,447
- Other
- $46,000
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $475,804 related
- Bonus
- $0 + $57,869 related
- Other
- $0 + $1,774 related
- Deferred
- $0 + $46,000 related
- Nontaxable benefits
- $0
- Filer's total
- $0 + $581,447 related
-
Jerome HouizotJEROME HOUIZOT
TREASURER
- Total calculated
- $338,858
- From this org
- $0
- From related orgs
- $280,154
- Other
- $58,704
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $246,632 related
- Bonus
- $0 + $32,078 related
- Other
- $0 + $1,444 related
- Deferred
- $0 + $30,500 related
- Nontaxable benefits
- $0 + $28,204 related
- Filer's total
- $0 + $338,858 related
-
Annika PreissANNIKA PREISS
SECRETARY (UNTIL EARLY 2025)
- Total calculated
- $0
- Hours/week
- 1
-
Diane HansonDIANE HANSON
SECRETARY (AS OF EARLY 2025)
- Total calculated
- $0
- Hours/week
- 1
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
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 3
- NET REALIZED GAINS ON SECURITIES HELD FOR SALE CENTER AND OU MEDICINE INC., DETERMINE COMPENSATION USING A COMPENSATION COMMITTEE, COMPENSATION SURVEYS AND THE APPROVAL OP THE COMPENSATION COMMITTEE.
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.
-
BOARD OF REGENTS OF THE UNIVERSITY OF OK
501(C)(1) · EDUCATION · OK
Directly controlled by NA
-
UNIVERSITY OF OKLAHOMA HEALTH SCIENCES
501(C)(3) · EDUCATION · OK
Directly controlled by NA
-
501(C)(3) · MEDICINE · OK
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 15 May 2026
- IRS schema version
- 2024v5.2
- Source object
- 202601359349308735
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