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Nonprofiteer
← WILLAMETTE VALLEY INSURANCE CORPORATION

Form 990 for tax year 2023

Filed by WILLAMETTE VALLEY INSURANCE CORPORATION.

Totals

Total revenue
$478,895
Total expenses
$2,098,900
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$478,895
Other revenue
$0
Total assets, end of year
$19,413,039
Total liabilities, end of year
$8,140,866
Net assets or fund balances, end of year
$11,272,173
Program services expenses (Part IX)
$1,933,421
Management and general expenses
$165,479
Fundraising expenses
$0
Program service expenses (Part III)
$1,933,421

Program services were 92.1% 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.

  • 3 · Investment income

    total $491,408 · excluded $491,408

  • 7a · Gross sales of assets other than inventory

    securities $3,105,653

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

    securities $3,118,166

  • 7c · Gain or loss

    securities -$12,513

  • 7d · Net gain or loss

    total -$12,513 · excluded -$12,513

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $439,257 · program services $376,535 · management and general $62,722

  • 11b · Fees: legal

    total $5,380 · management and general $5,380

  • 11c · Fees: accounting

    total $35,181 · management and general $35,181

  • 11g · Fees: other

    total $34,000 · program services $34,000

  • 17 · Travel

    total $27,224 · management and general $27,224

  • 24a · Other expenses: LOSSES & LAE EXPENSE

    total $1,522,886 · program services $1,522,886

  • 24b · Other expenses: INVESTMENT EXPENSES

    total $34,321 · management and general $34,321

  • 24c · Other expenses: LICENSE & FEES

    total $651 · management and general $651

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $145,968 · end of year $1,394,309

  • 11 · Investments: publicly traded securities

    beginning of year $19,673,450 · end of year $17,934,323

  • 15 · Other assets

    beginning of year $70,400 · end of year $84,407

  • 17 · Accounts payable and accrued expenses

    beginning of year $58,684 · end of year $57,041

  • 25 · Other liabilities

    beginning of year $8,318,348 · end of year $8,083,825

  • 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 $1,600,000 · end of year $1,600,000

  • 31 · Retained earnings, endowment or other funds

    beginning of year $9,912,786 · end of year $9,672,173

Mission and programs · 2023

Mission

PROVIDING PROFESSIONAL AND GENERAL LIABILITY INSURANCE TO ITS SOLE MEMBER, SALEM HEALTH HOSPITALS AND CLINICS (FORMERLY SALEM HEALTH), A 501(C)(3) ENTITY, AND OTHER ORGANIZATIONS CONTROLLED DIRECTLY OR INDIRECTLY BY SALEM HEALTH HOSPITALS AND CLINICS AND THAT ARE NON-PROFIT FOUNDATIONS UNDER IRC SEC. 509(A)(1) OR (2).

  • DIRECT PREMIUMS WRITTEN.LOSSES & LOSS ADJUSTMENT EXPENSES INCURRED AND OTHER RELATED COSTS RELATED TO PREMIUMS WRITTEN.

    Expenses $1,933,421

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

Listed in Part VII

  • KATHERINE KEENE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • LEAH MITCHELL

    VICE PRESIDENT/DIRECTOR

    Total calculated
    $967,711
    From this org
    $0
    From related orgs
    $857,714
    Other
    $109,997
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    $0 + $813,013 related
    Bonus
    $0
    Other
    $0 + $44,701 related
    Deferred
    $0 + $84,724 related
    Nontaxable benefits
    $0 + $25,273 related
    Filer's total
    $0 + $967,711 related

  • JAMES PARR

    PRESIDENT/DIRECTOR

    Total calculated
    $965,680
    From this org
    $0
    From related orgs
    $856,362
    Other
    $109,318
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    $0 + $804,313 related
    Bonus
    $0
    Other
    $0 + $52,049 related
    Deferred
    $0 + $84,724 related
    Nontaxable benefits
    $0 + $24,594 related
    Filer's total
    $0 + $965,680 related

  • DR RALPH YATES

    DIRECTOR

    Total calculated
    $730,161
    From this org
    $0
    From related orgs
    $692,761
    Other
    $37,400
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    $0 + $625,964 related
    Bonus
    $0
    Other
    $0 + $66,797 related
    Deferred
    $0 + $21,450 related
    Nontaxable benefits
    $0 + $15,950 related
    Filer's total
    $0 + $730,161 related

  • CHERYL NESTER WOLFE

    DIRECTOR

    Total calculated
    $1,716,822
    From this org
    $0
    From related orgs
    $1,673,623
    Other
    $43,199
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    $0 + $1,053,743 related
    Bonus
    $0 + $275,391 related
    Other
    $0 + $344,489 related
    Deferred
    $0 + $28,050 related
    Nontaxable benefits
    $0 + $15,149 related
    Filer's total
    $0 + $1,716,822 related

  • JONATHAN BAUER

    DIRECTOR

    Total calculated
    $680,589
    From this org
    $0
    From related orgs
    $595,872
    Other
    $84,717
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    $0 + $594,072 related
    Bonus
    $0
    Other
    $0 + $1,800 related
    Deferred
    $0 + $60,121 related
    Nontaxable benefits
    $0 + $24,596 related
    Filer's total
    $0 + $680,589 related

  • DR CHRISTINE CLARKE

    DIRECTOR

    Total calculated
    $721,290
    From this org
    $0
    From related orgs
    $658,692
    Other
    $62,598
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    $0 + $606,106 related
    Bonus
    $0
    Other
    $0 + $52,586 related
    Deferred
    $0 + $62,519 related
    Nontaxable benefits
    $0 + $79 related
    Filer's total
    $0 + $721,290 related

  • MARK ZOOK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JENNIFER FOWLER

    TREASURER

    Total calculated
    $461,913
    From this org
    $0
    From related orgs
    $382,995
    Other
    $78,918
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    $0 + $371,169 related
    Bonus
    $0
    Other
    $0 + $11,826 related
    Deferred
    $0 + $54,445 related
    Nontaxable benefits
    $0 + $24,473 related
    Filer's total
    $0 + $461,913 related

  • ELLEN HAMPTON

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

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
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
SOME OF THE HOSPITAL'S EMPLOYEES RECEIVE DEFERRED COMPENSATION UNDER A 457(F) NONQUALIFIED PLAN. THIS COMPENSATION IS INCLUDED IN COMPENSATION REPORTED IN PART II. THE TOTAL NONQUALIFIED PORTION OF EACH PERSONS DEFERRED COMPENSATION IS: JAMES PARR - $56,674 LEAH MITCHELL - $56,674 JENNIFER FOWLER - $26,395 CHRISTINE CLARKE - $41,069 JONATHAN BAUER - $41,971
PART I, LINE 7
EXPLANATION: THE ORGANIZATION'S CEO, EXECUTIVE DIRECTOR, AND OTHER OFFICERS OR KEY EMPLOYEES ARE NOT COMPENSATED BY WILLAMETTE VALLEY INSURANCE CORPORATION, BUT BY SALEM HEALTH (EIN: 93-0579722). AS SUCH, NONE OF THE FOLLOWING APPLY. HOWEVER, SALEM HEALTH USES THE FOLLOWING: THE SALEM HEALTH HOSPITALS AND CLINICS BOARD OF TRUSTEES ESTABLISHES ANNUAL PERFORMANCE GOALS FOR THE CEO AT THE BEGINNING OF EACH FISCAL YEAR. AT THE END OF THE FISCAL YEAR, THE BOARD INDEPENDENTLY EVALUATES THE CEO'S PERFORMANCE AGAINST THESE GOALS AND, AT ITS SOLE DISCRETION, DETERMINES AND AWARDS AN APPROPRIATE BONUS BASED ON THE EXTENT TO WHICH THE GOALS WERE MET.

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
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202521359349300127

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