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Nonprofiteer
← UNITED CHURCH INSURANCE COMPANY INC

Form 990 for tax year 2022

Filed by UNITED CHURCH INSURANCE COMPANY INC.

Totals

Total revenue
$38,911,382
Total expenses
$36,285,440
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$38,761,366
Investment income
$150,016
Other revenue
$0
Total assets, end of year
$55,276,109
Total liabilities, end of year
$43,650,640
Net assets or fund balances, end of year
$11,625,469
Program services expenses (Part IX)
$34,285,440
Management and general expenses
$2,000,000
Fundraising expenses
$0
Program service expenses (Part III)
$34,285,440

Program services were 94.5% 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 $38,761,366 · related or exempt $38,761,366

  • 3 · Investment income

    total $850,938 · related or exempt $850,938

  • 7a · Gross sales of assets other than inventory

    securities $24,182,744

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

    securities $24,883,666

  • 7c · Gain or loss

    securities -$700,922

  • 7d · Net gain or loss

    total -$700,922 · related or exempt -$700,922

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $114,822 · program services $114,822

  • 11b · Fees: legal

    total $16,122 · program services $16,122

  • 11c · Fees: accounting

    total $43,874 · program services $43,874

  • 11f · Fees: investment management

    total $75,827 · program services $75,827

  • 11g · Fees: other

    total $40,000 · program services $40,000

  • 24a · Other expenses: INSURANCE CLAIMS/ RESER

    total $31,722,691 · program services $31,722,691

  • 24b · Other expenses: EXPENSE SHARING

    total $2,000,000 · management and general $2,000,000

  • 24c · Other expenses: UNDERWRITING EXPENSE

    total $1,122,752 · program services $1,122,752

  • 24d · Other expenses: LOSS CONTROL EXPENSE

    total $1,051,922 · program services $1,051,922

  • 24e · All other expenses

    total $97,430 · program services $97,430

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,923,262 · end of year $2,597,062

  • 2 · Savings and temporary cash investments

    beginning of year $8,463,902 · end of year $10,309,910

  • 9 · Prepaid expenses and deferred charges

    beginning of year $31,339 · end of year $39,046

  • 11 · Investments: publicly traded securities

    beginning of year $31,363,564 · end of year $34,017,542

  • 12 · Investments: other securities

    beginning of year $10,525,207 · end of year $7,777,223

  • 15 · Other assets

    beginning of year $190,879 · end of year $535,326

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,989,600 · end of year $5,429,593

  • 25 · Other liabilities

    beginning of year $35,996,590 · end of year $38,221,047

  • 29 · Capital stock, trust principal or current funds

    beginning of year $2,644,795 · end of year $2,644,795

  • 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 $8,867,168 · end of year $8,980,674

Mission and programs · 2022

Mission

CAPTIVE REINSURANCE COMPANY FOR PARTICIPATING CHURCHES AND MINISTRIES OF THE UNITED CHURCH INSURANCE ASSOCIATION.

  • THE ENTITY IS A REINSURER OF THE UNITED CHURCH INSURANCEASSOCIATION BY FUNDING CERTAIN RISKS WITH COVERAGES INSUREDTHROUGH COMMERCIAL INSURERS.

    Expenses $34,285,440 · Revenue $38,761,366

As filed on the 2022 return.

Listed in Part VII

  • SHANA JOHNSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DUNCAN DRAPER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ROBERT BRAUTIGAM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • WILLIAM WHITEHEAD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DAVID CRITTENDEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ERICK REISINGER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • THOMAS MITCHELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ALAN RELYEA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ANDREW BUNN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • TIMOTHY S HARRIS

    PRESIDENT/ CEO

    Total calculated
    $420,614
    From this org
    $0
    From related orgs
    $344,340
    Other
    $76,274
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $344,340 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $40,500 related
    Nontaxable benefits
    $0 + $35,774 related
    Filer's total
    $0 + $420,614 related

  • ANDREA GAUDING

    SR. V/P CFO

    Total calculated
    $245,413
    From this org
    $0
    From related orgs
    $197,830
    Other
    $47,583
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $197,830 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $28,427 related
    Nontaxable benefits
    $0 + $19,156 related
    Filer's total
    $0 + $245,413 related

  • FARNAZ BERNA

    VP MARKETING

    Total calculated
    $202,021
    From this org
    $0
    From related orgs
    $161,092
    Other
    $40,929
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $161,092 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $23,129 related
    Nontaxable benefits
    $0 + $17,800 related
    Filer's total
    $0 + $202,021 related

  • JAMES HOWARD

    V/P OPERATIONS

    Total calculated
    $243,774
    From this org
    $0
    From related orgs
    $184,053
    Other
    $59,721
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $184,053 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $26,169 related
    Nontaxable benefits
    $0 + $33,552 related
    Filer's total
    $0 + $243,774 related

  • DAVID NELSON

    PROJECT MANAGER

    Total calculated
    $153,600
    From this org
    $0
    From related orgs
    $153,600
    Other
    $0
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $0 + $153,600 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $153,600 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.

Provenance

Return type
form_990
Tax year
2022
Filed
8 November 2023
IRS schema version
2022v5.0
Source object
202333179349308458

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