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Nonprofiteer
← ACADEMIC PHYSICIANS INSURANCECOMPANY

Form 990 for tax year 2023

Filed by ACADEMIC PHYSICIANS INSURANCECOMPANY.

Totals

Total revenue
$25,235,857
Total expenses
$20,566,139
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$23,106,002
Investment income
$2,129,855
Other revenue
$0
Total assets, end of year
$112,206,115
Total liabilities, end of year
$91,257,074
Net assets or fund balances, end of year
$20,949,041
Program services expenses (Part IX)
$20,013,245
Management and general expenses
$552,894
Fundraising expenses
$0
Program service expenses (Part III)
$20,013,245

Program services were 97.3% 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 $23,106,002 · related or exempt $23,106,002

  • 3 · Investment income

    total $1,914,452 · excluded $1,914,452

  • 7a · Gross sales of assets other than inventory

    securities $11,674,628

  • 7b · Less cost or other basis and sales expenses

    securities $11,459,225

  • 7c · Gain or loss

    securities $215,403

  • 7d · Net gain or loss

    total $215,403 · excluded $215,403

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $181,087 · program services $135,815 · management and general $45,272

  • 11b · Fees: legal

    total $80,691 · management and general $80,691

  • 11c · Fees: accounting

    total $45,000 · management and general $45,000

  • 11f · Fees: investment management

    total $170,000 · management and general $170,000

  • 11g · Fees: other

    total $121,000 · program services $46,000 · management and general $75,000

  • 13 · Office expenses

    total $18,512 · management and general $18,512

  • 17 · Travel

    total $22,169 · management and general $22,169

  • 24a · Other expenses: LOSSES AND EXPENSES

    total $19,831,430 · program services $19,831,430

  • 24b · Other expenses: PREMIUM TAXES

    total $95,212 · management and general $95,212

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $1,038 · management and general $1,038

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,469,574 · end of year $3,663,081

  • 4 · Accounts receivable

    beginning of year $5,425,387 · end of year $6,684,604

  • 9 · Prepaid expenses and deferred charges

    beginning of year $66,364 · end of year $69,857

  • 11 · Investments: publicly traded securities

    beginning of year $50,508,279 · end of year $65,577,364

  • 12 · Investments: other securities

    beginning of year $5,733,474 · end of year $7,508,520

  • 15 · Other assets

    beginning of year $11,345,109 · end of year $28,702,689

  • 17 · Accounts payable and accrued expenses

    beginning of year $343,469 · end of year $371,646

  • 25 · Other liabilities

    beginning of year $60,357,794 · end of year $90,885,428

  • 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 $13,846,924 · end of year $20,949,041

Mission and programs · 2023

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 ANDSURROUNDING 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 $20,013,245 · Revenue $23,106,002

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Ian Fdunn

    DIRECTOR

    Total calculated
    $367,818
    From this org
    $0
    From related orgs
    $344,129
    Other
    $23,689
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $344,129 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $23,689 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $367,818 related

  • Michael Scookson

    PRESIDENT

    Total calculated
    $1,047,975
    From this org
    $0
    From related orgs
    $943,753
    Other
    $104,222
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $386,438 related
    Bonus
    $0 + $552,959 related
    Other
    $0 + $4,356 related
    Deferred
    $0 + $90,290 related
    Nontaxable benefits
    $0 + $13,932 related
    Filer's total
    $0 + $1,047,975 related

  • James Mwatson

    DIRECTOR

    Total calculated
    $1,159,014
    From this org
    $0
    From related orgs
    $1,098,745
    Other
    $60,269
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $616,012 related
    Bonus
    $0 + $471,504 related
    Other
    $0 + $11,229 related
    Deferred
    $0 + $53,787 related
    Nontaxable benefits
    $0 + $6,482 related
    Filer's total
    $0 + $1,159,014 related

  • John Pzubialde

    DIRECTOR THRU 8/31/23

    Total calculated
    $663,015
    From this org
    $0
    From related orgs
    $546,876
    Other
    $116,139
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $537,016 related
    Bonus
    $0
    Other
    $0 + $9,860 related
    Deferred
    $0 + $109,605 related
    Nontaxable benefits
    $0 + $6,534 related
    Filer's total
    $0 + $663,015 related

  • Karl Rhansen

    CHAIRMAN

    Total calculated
    $650,785
    From this org
    $0
    From related orgs
    $551,737
    Other
    $99,048
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $270,400 related
    Bonus
    $0 + $277,916 related
    Other
    $0 + $3,421 related
    Deferred
    $0 + $92,047 related
    Nontaxable benefits
    $0 + $7,001 related
    Filer's total
    $0 + $650,785 related

  • Ondria Cgleason

    DIRECTOR

    Total calculated
    $593,920
    From this org
    $0
    From related orgs
    $488,719
    Other
    $105,201
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $436,216 related
    Bonus
    $0 + $47,717 related
    Other
    $0 + $4,786 related
    Deferred
    $0 + $89,961 related
    Nontaxable benefits
    $0 + $15,240 related
    Filer's total
    $0 + $593,920 related

  • Keri Sconner

    DIRECTOR

    Total calculated
    $140,805
    From this org
    $0
    From related orgs
    $129,339
    Other
    $11,466
    Hours/week
    1 + 40 related

  • Joan Mhussey

    SECRETARY THRU 7/31/23

    Total calculated
    $0
    Hours/week
    1

  • Richard Plofgren

    DIRECTOR

    Total calculated
    $1,912,856
    From this org
    $0
    From related orgs
    $1,845,986
    Other
    $66,870
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,389,780 related
    Bonus
    $0 + $420,000 related
    Other
    $0 + $36,206 related
    Deferred
    $0 + $58,989 related
    Nontaxable benefits
    $0 + $7,881 related
    Filer's total
    $0 + $1,912,856 related

  • Dale Bratzlermd

    DIRECTOR

    Total calculated
    $454,872
    From this org
    $0
    From related orgs
    $421,584
    Other
    $33,288
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $332,371 related
    Bonus
    $0 + $81,000 related
    Other
    $0 + $8,213 related
    Deferred
    $0 + $29,700 related
    Nontaxable benefits
    $0 + $3,588 related
    Filer's total
    $0 + $454,872 related

  • Annika Preiss

    SECRETARY AS OF 9/1/23

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

The filer's explanations (Part III)

PART I, LINE 3
THE RELATED ORGANIZATIONS, THE UNIVERSITY OF OKLAHOMA HEALTH SCIENCES CENTER AND OU MEDICINE INC., DETERMINE COMPENSATION USING A COMPENSATION COMMITTEE, COMPENSATION SURVEYS AND THE APPROVAL OF 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 OKLAHOMA

    501(C)(1) · EDUCATION · OK

  • UNIVERSITY OF OKLAHOMA HEALTH SCIENCES CENTER

    501(C)(3) · EDUCATION · OK

  • OU MEDICINE INC

    501(C)(3) · MEDICINE · OK

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202531339349304283

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