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Nonprofiteer
← LOKAHI ASSURANCE LTD

Form 990 for tax year 2023

Filed by LOKAHI ASSURANCE LTD.

Totals

Total revenue
$758,217,964
Total expenses
$628,387,318
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$554,074,482
Investment income
$204,143,482
Other revenue
$0
Total assets, end of year
$3,354,081,963
Total liabilities, end of year
$2,740,865,202
Net assets or fund balances, end of year
$613,216,761
Program services expenses (Part IX)
$603,988,374
Management and general expenses
$24,398,944
Fundraising expenses
$0
Program service expenses (Part III)
$603,988,374

Program services were 96.1% 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 $545,239,079 · related or exempt $545,239,079

  • 2b · Program service revenue: OTHER INCOME

    total $8,835,403 · related or exempt $8,835,403

  • 3 · Investment income

    total $188,493,875 · unrelated business $0 · excluded $188,493,875

  • 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 $442,113,752

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

    securities $426,464,145

  • 7c · Gain or loss

    securities $15,649,607

  • 7d · Net gain or loss

    total $15,649,607 · excluded $15,649,607

  • 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 $17,000 · management and general $17,000 · fundraising $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 $0

  • 11b · Fees: legal

    total $37,692 · management and general $37,692

  • 11c · Fees: accounting

    total $230,790 · management and general $230,790

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $1,196,520 · management and general $1,196,520

  • 11g · Fees: other

    total $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 $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $16,059 · management and general $16,059

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: PAID LOSSES

    total $603,399,699 · program services $603,399,699

  • 24b · Other expenses: INTER-REGIONAL ALLOCATION

    total $20,196,380 · management and general $20,196,380

  • 24c · Other expenses: OTHER PROFESSIONAL FEES

    total $2,670,825 · management and general $2,670,825

  • 24d · Other expenses: PREMIUM TAXES

    total $588,675 · program services $588,675

  • 24e · All other expenses

    total $33,678 · management and general $33,678

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 $16,310,095 · end of year $21,111,805

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 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 $1,884,054,350 · end of year $2,397,586,875

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,316 · end of year $4,990,763

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

    $325,215

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

    $325,215

  • 11 · Investments: publicly traded securities

    beginning of year $988,004,925 · end of year $847,384,904

  • 12 · Investments: other securities

    beginning of year $0 · 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 $80,780,621 · end of year $83,007,616

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,123,672 · end of year $1,239,541

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $6,876,418 · end of year $5,106,448

  • 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 $2,516,678,171 · end of year $2,734,519,213

  • 29 · Capital stock, trust principal or current funds

    beginning of year $25,000,000 · end of year $25,000,000

  • 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 $419,475,046 · end of year $588,216,761

Mission and programs · 2023

Mission

A SUPPORTING ORGANIZATION TO KAISER FOUNDATION HEALTH PLAN INC AND SUBSIDIARIES CREATED TO PROVIDE A MEANS OF FINANCING PROFESSIONAL AND GENERAL LIABILITY, MANAGED CARE LIABILITY AND PANDEMIC, TERRORISM, CYBER SECURITY, AND EARTHQUAKE EXPOSURES.

Activities or mission (Part I)

SEE SCHEDULE O

  • A supporting organization to Kaiser Foundation Health Plan Inc and subsidiaries created to provide a means of financing professional and general liability, workers' compensation liability, managed care liability and pandemic, terrorism, cyber security, and earthquake exposures.

    Expenses $603,988,374 · Revenue $554,074,482

As filed on the 2023 return.

Listed in Part VII

  • Mark Zemelman

    SVP, General Counsel & Secy

    Total calculated
    $2,494,194
    From this org
    $0
    From related orgs
    $1,833,838
    Other
    $660,356
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $1,833,838 related
    Deferred
    $0 + $660,356 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $2,494,194 related

  • Vanessa Benavides

    SVP,Chief Legal Officer & Secy

    Total calculated
    $2,100,570
    From this org
    $0
    From related orgs
    $1,792,455
    Other
    $308,115
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $708,622 related
    Bonus
    $0 + $1,028,988 related
    Other
    $0 + $54,845 related
    Deferred
    $0 + $288,586 related
    Nontaxable benefits
    $0 + $19,529 related
    Filer's total
    $0 + $2,100,570 related

  • Thomas Meier

    Vice President & Treasurer

    Total calculated
    $1,842,456
    From this org
    $0
    From related orgs
    $1,721,108
    Other
    $121,348
    Hours/week
    2 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $593,270 related
    Bonus
    $0 + $977,784 related
    Other
    $0 + $150,054 related
    Deferred
    $0 + $94,964 related
    Nontaxable benefits
    $0 + $26,384 related
    Filer's total
    $0 + $1,842,456 related

  • Hong-Sze Yu

    VP, Brd & Corp Gov & Asst Secy

    Total calculated
    $676,148
    From this org
    $0
    From related orgs
    $508,592
    Other
    $167,556
    Hours/week
    0.1 + 49.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $300,090 related
    Bonus
    $0 + $188,569 related
    Other
    $0 + $19,933 related
    Deferred
    $0 + $137,523 related
    Nontaxable benefits
    $0 + $30,033 related
    Filer's total
    $0 + $676,148 related

  • Martin King

    Director & President

    Total calculated
    $639,163
    From this org
    $0
    From related orgs
    $438,564
    Other
    $200,599
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $289,179 related
    Bonus
    $0 + $105,718 related
    Other
    $0 + $43,667 related
    Deferred
    $0 + $195,574 related
    Nontaxable benefits
    $0 + $5,025 related
    Filer's total
    $0 + $639,163 related

  • Sylvia Bhatia

    Director

    Total calculated
    $374,720
    From this org
    $0
    From related orgs
    $290,950
    Other
    $83,770
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $239,791 related
    Bonus
    $0 + $37,877 related
    Other
    $0 + $13,282 related
    Deferred
    $0 + $51,786 related
    Nontaxable benefits
    $0 + $31,984 related
    Filer's total
    $0 + $374,720 related

  • Michael B Evans

    Director

    Total calculated
    $13,000
    From this org
    $13,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • Gerald C Yoshida

    Director & Assistant Secretary

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

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
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3
THE FILING ORGANIZATION RELIED ON A RELATED ORGANIZATION THAT USED ONE OR MORE OF THE METHODS DESCRIBED BELOW TO ESTABLISH THE TOP MANAGEMENT OFFICIALS' COMPENSATION: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - FORM 990 OF OTHER ORGANIZATIONS - WRITTEN EMPLOYMENT CONTRACT - COMPENSATION SURVEY OR STUDY, AND - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE OF A RELATED ORGANIZATION.
Schedule J, Part I, Line 4a
Mark Zemelman $1,823,105 LISTED PERSONS PARTICIPATED IN SEPARATION ARRANGEMENTS. DEPENDING ON POSITION LEVEL, TENURE, AND SEPARATION REASON, BENEFITS PAYABLE UNDER THESE ARRANGEMENTS PROVIDE FOR PAY AND HEALTH BENEFITS CONTINUATION PLUS PAYMENT OF ACCRUED OBLIGATIONS. IN ADDITION, FOR SOME OF THE LISTED PERSONS, BENEFITS PAYABLE INCLUDE PRORATED INCENTIVE AWARDS FOR PERFORMANCE PERIODS NOT YET ENDED. NONE OF THE LISTED PERSONS PARTICIPATED IN ARRANGEMENTS ENTITLING THEM TO CHANGE-OF-CONTROL PAYMENTS.
Schedule J, Part I, Line 4b
SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN PAYMENT Thomas Meier $95,030 SOME OF THE PARTICIPANTS LISTED IN SCHEDULE J, PART II PARTICIPATED IN NONQUALIFIED SUPPLEMENTAL RETIREMENT PLANS. UNDER THESE PLANS, THE ORGANIZATION MAKES ANNUAL CONTRIBUTIONS TO A NOTIONAL ACCOUNT ON BEHALF OF EACH PARTICIPANT. CONTRIBUTIONS VARY BY POSITION, LEVEL AND PAY, AND VEST OVER TIME BASED ON AGE AND/OR SERVICE. PARTICIPANT ACCOUNTS ARE CREDITED WITH A FIXED RATE OF INTEREST, INVESTED IN AVAILABLE MUTUAL FUNDS OR A COMBINATION OF BOTH. CERTAIN OFFICERS ACCRUE A BENEFIT THAT VESTS BASED ON AGE AND SERVICE AND TARGETS A PERCENTAGE OF FINAL AVERAGE PAY LESS PRIOR PLAN OFFSETS. UNVESTED AMOUNTS ARE SUBJECT TO RISK OF FORFEITURE.
SCHEDULE J, PART I, LINE 7
NON-FIXED PAYMENTS THE ORGANIZATION PROVIDED NON-FIXED PAYMENTS TO SOME OF THE PERSONS LISTED. PAYMENTS WERE MADE UNDER DISCRETIONARY BONUS PROGRAMS AND INCENTIVE PLANS, BASED ON ATTAINMENT OF ORGANIZATIONAL PERFORMANCE GOALS AND INDIVIDUAL PERFORMANCE, DESIGNED TO SUPPORT THE ORGANIZATION'S MISSION TO PROVIDE HIGH-QUALITY, AFFORDABLE CARE AND IMPROVE THE HEALTH OF ITS MEMBERS AND THE COMMUNITIES IT SERVES. THE PLANS' ORGANIZATIONAL PERFORMANCE GOALS INCLUDED: QUALITY OF CARE AND SERVICE, MEMBERSHIP GROWTH, OPERATING INCOME, PER MEMBER EXPENSE TREND, AND COMMUNITY BENEFIT. PLAN DESIGNS, PERFORMANCE, AND PAYOUT LEVELS, AS WELL AS INDIVIDUAL PAYMENTS TO CERTAIN PERSONS, WERE REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS, COMPRISED OF INDEPENDENT DIRECTORS.
SCHEDULE J, PART II, SECTION A, COLUMN F
AMOUNTS INCLUDED IN SCHEDULE J, PART II, COLUMN F INCLUDE AMOUNTS PREVIOUSLY REPORTED AS DEFERRED COMPENSATION, AS WELL AS DISTRIBUTIONS FROM A 457(B) PLAN THAT WERE PREVIOUSLY REPORTED AS REPORTABLE COMPENSATION IN ACCORDANCE WITH FORM 990 INSTRUCTIONS.

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.

  • NXT CAP SR FD ILLC

    N/A · INVESTMENT · DE · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • Maui Nui ASC Holdco LLC

    N/A · Holding Co · HI · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

Related corporations and trusts

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

  • OAK TREE ASSURANCE LTD

    C CORP · INSURANCE · VT · share of income $0 · share of assets $0

    Directly controlled by NA

  • KAISER PERMANENTE INSURANCE COMPANY

    C CORP · Insurance · CA · share of income $0 · share of assets $0

    Directly controlled by NA

  • KAISER PERMANENTE INTERNATIONAL

    C CORP · CONSULTING · CA · share of income $0 · share of assets $0

    Directly controlled by NA

  • KFHP OF WASHINGTON OPTIONS INC

    C CORP · INSURANCE · WA · share of income $0 · share of assets $0

    Directly controlled by NA

  • Group Health of Washington

    C Corp · Inactive · WA · share of income $0 · share of assets $0

    Directly controlled by NA

  • Garfield Health Solutions East Pte Ltd

    C Corp · Admin · IN · share of income $0 · share of assets $0

    Directly controlled by NA

  • Garfield Health Solutions West SRL

    C CORP · Admin · CS · share of income $0 · share of assets $0

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
24 October 2024
IRS schema version
2023v5.1
Source object
202423209349305682

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