Form 990 for tax year 2023
Filed by THE UNIVERSITY OF SOUTH ALABAMA PROFESSIONAL LIABILITY TRUST FUND.
Totals
- Total revenue
- $13,496,371
- Total expenses
- $9,199,031
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $11,427,410
- Investment income
- $2,068,961
- Other revenue
- $0
- Total assets, end of year
- $63,417,460
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $63,417,460
- Program services expenses (Part IX)
- $9,199,031
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $9,199,031
Program services were 100.0% 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: INSURANCE PREMIUMS
total $11,427,410 · related or exempt $11,427,410
-
3 · Investment income
total $1,600,127 · excluded $1,600,127
-
7a · Gross sales of assets other than inventory
securities $20,447,643
-
7b · Less cost or other basis and sales expenses
securities $19,978,809
-
7c · Gain or loss
securities $468,834
-
7d · Net gain or loss
total $468,834 · excluded $468,834
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $321,958 · program services $321,958
-
9 · Other employee benefits
total $124,846 · program services $124,846
-
11b · Fees: legal
total $987,768 · program services $987,768
-
11f · Fees: investment management
total $216,197 · program services $216,197
-
11g · Fees: other
total $1,401 · program services $1,401
-
13 · Office expenses
total $7,858 · program services $7,858
-
17 · Travel
total $3,975 · program services $3,975
-
23 · Insurance
total $2,388,850 · program services $2,388,850
-
24a · Other expenses: CLAIMS PAID
total $5,110,000 · program services $5,110,000
-
24b · Other expenses: ADMINISTRATIVE EXPENSE
total $35,000 · program services $35,000
-
24c · Other expenses: MEMBERSHIP DUES
total $1,178 · program services $1,178
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,918,845 · end of year $2,023,474
-
11 · Investments: publicly traded securities
beginning of year $46,560,860 · end of year $61,252,250
-
15 · Other assets
beginning of year $222,072 · end of year $141,736
-
31 · Retained earnings, endowment or other funds
beginning of year $49,701,777 · end of year $63,417,460
Mission and programs · 2023
Mission
PROVIDE RISK MANAGEMENT SERVICES FOR THE BENEFIT OF SPONSORING TAX-EXEMPT ENTITIES, INCLUDING EDUCATION OF EMPLOYEES THEREOF.
-
RISK MANAGEMENT SERVICES FOR THE BENEFIT OF SPONSORING TAX-EXEMPT ENTITIES, INCLUDING EDUCATION OF EMPLOYEES IN MEDICAL PROCEDURES TO AVOID LIABILITY AND PROCESSING LIABILITIES ACUTALLY INCURRED.
Expenses $9,199,031 · Revenue $11,427,410
As filed on the 2023 return.
Listed in Part VII
-
Owen BaileyOWEN BAILEY
DIRECTOR
- Total calculated
- $893,943
- From this org
- $0
- From related orgs
- $779,816
- Other
- $114,127
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- not reported + $777,314 related
- Bonus
- not reported
- Other
- not reported + $2,502 related
- Deferred
- not reported + $98,651 related
- Nontaxable benefits
- not reported + $15,476 related
- Filer's total
- not reported + $893,943 related
-
John MarymontJOHN MARYMONT
DIRECTOR
- Total calculated
- $884,515
- From this org
- $0
- From related orgs
- $829,234
- Other
- $55,281
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- not reported + $826,317 related
- Bonus
- not reported
- Other
- not reported + $2,917 related
- Deferred
- not reported + $40,655 related
- Nontaxable benefits
- not reported + $14,626 related
- Filer's total
- not reported + $884,515 related
-
Martin HeslinMARTIN HESLIN
DIRECTOR
- Total calculated
- $801,687
- From this org
- $0
- From related orgs
- $771,814
- Other
- $29,873
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- not reported + $771,514 related
- Bonus
- not reported
- Other
- not reported + $300 related
- Deferred
- not reported + $15,250 related
- Nontaxable benefits
- not reported + $14,623 related
- Filer's total
- not reported + $801,687 related
-
Jo BonnerJO BONNER
DIRECTOR
- Total calculated
- $745,863
- From this org
- $0
- From related orgs
- $682,921
- Other
- $62,942
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- not reported + $681,365 related
- Bonus
- not reported
- Other
- not reported + $1,556 related
- Deferred
- not reported + $48,316 related
- Nontaxable benefits
- not reported + $14,626 related
- Filer's total
- not reported + $745,863 related
-
Michael ChangMICHAEL CHANG
DIRECTOR
- Total calculated
- $700,574
- From this org
- $0
- From related orgs
- $671,448
- Other
- $29,126
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- not reported + $671,052 related
- Bonus
- not reported
- Other
- not reported + $396 related
- Deferred
- not reported + $14,500 related
- Nontaxable benefits
- not reported + $14,626 related
- Filer's total
- not reported + $700,574 related
-
Andi KentANDI KENT
DIRECTOR
- Total calculated
- $619,739
- From this org
- $0
- From related orgs
- $536,005
- Other
- $83,734
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- not reported + $534,780 related
- Bonus
- not reported
- Other
- not reported + $1,225 related
- Deferred
- not reported + $68,340 related
- Nontaxable benefits
- not reported + $15,394 related
- Filer's total
- not reported + $619,739 related
-
Jon SimmonsJON SIMMONS
DIRECTOR
- Total calculated
- $603,624
- From this org
- $0
- From related orgs
- $579,782
- Other
- $23,842
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- not reported + $579,692 related
- Bonus
- not reported
- Other
- not reported + $90 related
- Deferred
- not reported + $16,500 related
- Nontaxable benefits
- not reported + $7,342 related
- Filer's total
- not reported + $603,624 related
-
Benny StoverBENNY STOVER
DIRECTOR
- Total calculated
- $503,866
- From this org
- $0
- From related orgs
- $474,336
- Other
- $29,530
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- not reported + $474,202 related
- Bonus
- not reported
- Other
- not reported + $134 related
- Deferred
- not reported + $14,500 related
- Nontaxable benefits
- not reported + $15,030 related
- Filer's total
- not reported + $503,866 related
-
James Carter JrJAMES CARTER JR
DIRECTOR
- Total calculated
- $372,293
- From this org
- $0
- From related orgs
- $316,769
- Other
- $55,524
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- not reported + $315,766 related
- Bonus
- not reported
- Other
- not reported + $1,003 related
- Deferred
- not reported + $40,130 related
- Nontaxable benefits
- not reported + $15,394 related
- Filer's total
- not reported + $372,293 related
-
William GreteWILLIAM GRETE
DIRECTOR
- Total calculated
- $363,480
- From this org
- $0
- From related orgs
- $331,950
- Other
- $31,530
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- not reported + $331,650 related
- Bonus
- not reported
- Other
- not reported + $300 related
- Deferred
- not reported + $16,500 related
- Nontaxable benefits
- not reported + $15,030 related
- Filer's total
- not reported + $363,480 related
-
Kristin DukesKRISTIN DUKES
DIRECTOR
- Total calculated
- $351,277
- From this org
- $0
- From related orgs
- $297,531
- Other
- $53,746
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- not reported + $295,969 related
- Bonus
- not reported
- Other
- not reported + $1,562 related
- Deferred
- not reported + $38,270 related
- Nontaxable benefits
- not reported + $15,476 related
- Filer's total
- not reported + $351,277 related
-
Kristen RobertsKRISTEN ROBERTS
DIRECTOR
- Total calculated
- $313,053
- From this org
- $0
- From related orgs
- $266,904
- Other
- $46,149
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- not reported + $266,579 related
- Bonus
- not reported
- Other
- not reported + $325 related
- Deferred
- not reported + $31,441 related
- Nontaxable benefits
- not reported + $14,708 related
- Filer's total
- not reported + $313,053 related
-
Polly StokleyPOLLY STOKLEY
DIRECTOR
- Total calculated
- $271,857
- From this org
- $0
- From related orgs
- $241,970
- Other
- $29,887
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- not reported + $241,028 related
- Bonus
- not reported
- Other
- not reported + $942 related
- Deferred
- not reported + $22,190 related
- Nontaxable benefits
- not reported + $7,697 related
- Filer's total
- not reported + $271,857 related
-
Constance G CookCONSTANCE G COOK
DIRECTOR, PA
- Total calculated
- $185,581
- From this org
- $0
- From related orgs
- $150,746
- Other
- $34,835
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- not reported + $149,676 related
- Bonus
- not reported
- Other
- not reported + $1,070 related
- Deferred
- not reported + $19,447 related
- Nontaxable benefits
- not reported + $15,388 related
- Filer's total
- not reported + $185,581 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.
-
501C3 · EDUCATION · AL
Directly controlled by NA
-
USA HEALTH SERVICES FOUNDATION
501C3 · MEDICAL · AL · controlled entity
Directly controlled by U OF S AL
-
USA RESEARCH AND TECHNOLOGY CORP
501C3 · REAL ESTAT · AL · controlled entity
Directly controlled by U OF S AL
-
USA GENERAL LIABILITY TRUST FD
501C3 · INSURANCE · AL · controlled entity
Directly controlled by U OF S AL
-
501C3 · BOOSTERCLB · AL · controlled entity
Directly controlled by U OF S AL
-
USA FOUNDATION FOR RSCH AND COMM
501C3 · RESEARCH · AL · controlled entity
Directly controlled by U OF S AL
-
501C3 · MEDICAL · AL · controlled entity
Directly controlled by U OF S AL
-
UNIV OF SOUTH AL HEALTH CARE AUTHOR
MEDICAL · AL · controlled entity
Directly controlled by U OF S AL
-
USA PRESIDENTIAL 1963 FUND
FUNDRAISE · AL · controlled entity
Directly controlled by U OF S AL
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 corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
NOVALTECH LLC
TECH TRANS · AL
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 July 2025
- IRS schema version
- 2023v6.0
- Source object
- 202532059349300148
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