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← PARADIGM INDEMNITY CORPORATION

Form 990 for tax year 2022

Filed by PARADIGM INDEMNITY CORPORATION.

Totals

Total revenue
$14,788,703
Total expenses
$4,116,058
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$14,486,595
Investment income
$302,108
Other revenue
$0
Total assets, end of year
$66,739,436
Total liabilities, end of year
$21,117,000
Net assets or fund balances, end of year
$45,622,436
Program services expenses (Part IX)
$3,274,985
Management and general expenses
$841,073
Fundraising expenses
$0
Program service expenses (Part III)
$3,274,985

Program services were 79.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • DOUGLAS BOYSEN

    BOARD CHAIR / CEO SHS

    Total calculated
    $1,577,367
    From this org
    $0
    From related orgs
    $1,512,954
    Other
    $64,413
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,045,442 related
    Bonus
    $0 + $380,053 related
    Other
    $0 + $87,459 related
    Deferred
    $0 + $24,620 related
    Nontaxable benefits
    $0 + $39,793 related
    Filer's total
    $0 + $1,577,367 related

  • RANDY SPRINGER

    BRD VICE CHAIR & SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • DAVID TRIEBES

    BOARD MEMBER / FORMER CEO AGH

    Total calculated
    $21,935
    From this org
    $0
    From related orgs
    $21,935
    Other
    $0
    Hours/week
    1

  • JIM DENHAM

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • KELLEY KAISER

    BOARD MEMBER / SVP CAO SHS

    Total calculated
    $558,912
    From this org
    $0
    From related orgs
    $496,145
    Other
    $62,767
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $402,834 related
    Bonus
    $0 + $85,255 related
    Other
    $0 + $8,056 related
    Deferred
    $0 + $24,620 related
    Nontaxable benefits
    $0 + $38,147 related
    Filer's total
    $0 + $558,912 related

  • NANCY SEIFERT PHD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • ROBERT TURNGREN MD

    BRD MBR / SVP CHIEF PHYS EXEC

    Total calculated
    $703,044
    From this org
    $0
    From related orgs
    $645,515
    Other
    $57,529
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $507,937 related
    Bonus
    $0 + $102,600 related
    Other
    $0 + $34,978 related
    Deferred
    $0 + $24,620 related
    Nontaxable benefits
    $0 + $32,909 related
    Filer's total
    $0 + $703,044 related

  • DANIEL SMITH

    TREASURER / SVP CFO SHS

    Total calculated
    $701,981
    From this org
    $0
    From related orgs
    $638,044
    Other
    $63,937
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $492,567 related
    Bonus
    $0 + $104,160 related
    Other
    $0 + $41,317 related
    Deferred
    $0 + $24,620 related
    Nontaxable benefits
    $0 + $39,317 related
    Filer's total
    $0 + $701,981 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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 CHIEF EXECUTIVE OFFICER IS EMPLOYED AND PAID BY A RELATED ORGANIZATION. THE RELATED ORGANIZATION CONDUCTS A COMPENSATION ANALYSIS EACH YEAR TO COMPARE COMPENSATION OF ALL PAID POSITIONS TO MARKET SURVEYS OF COMPENSATION FOR SIMILAR POSITIONS IN OTHER ORGANIZATIONS. PERIODICALLY, THE RELATED ORGANIZATION WILL ALSO USE WRITTEN EMPLOYMENT CONTRACTS, FORM 990 OF OTHER ORGANIZATIONS, AND INDEPENDENT COMPENSATION CONSULTANTS TO DETERMINE THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER.
PART I, LINE 4B
LINE 4B: A RELATED ORGANIZATION MAINTAINS SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS. HOWEVER, NO PERSONS LISTED IN PART VII OF FORM 990 ACCRUED DEFERRED COMPENSATION BENEFITS OR RECEIVED ANY PAYMENTS FROM THESE PLANS DURING THE FILING YEAR.

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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2022
Filed
2 November 2023
IRS schema version
2022v5.0
Source object
202303149349301945

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