Southwest Professional Indemnity Corp

Address
PO BOX 2185GT
CAYMAN ISLANDS, GRAND CAYMAN KY1-1105
CJ
Contact
Phone: +1 (345) 949-1599
Nonprofit
NTEE: Y23 - Mutual Insurance Company or Association
EIN: 98-0047386

Mission

REINSURANCE PROVIDER FOR THE MEDICAL PROFESSIONAL LIABILITY INSURANCE RISKS FROM AN UNRELATED PRIMARY INSURER IN THE UNITED STATES OF AMERICA.
 201620152014
Basic features of the organization
Year of formation1980
Subsection501(c)
Organization typeCorporation
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel$26,557.00$48,358.00$80,621.00
Sum of reportable (W2/1099) compensation$26,557.00$48,358.00$80,621.00
Number of employees000
Number of people compensated >$100k000
Number of volunteers230
Number of highly compensated contractors000
Personnel
112015, Coyle
Title DIRECTOR 
Name of key/compensated person COYLE E DEMOSS - term 112015 
Average hours per week working for org 1.0 
Reportable compensation from org $0.00 
Other comp, non-reportable, from org and related orgs $0.00 
Position Individual trustee or director 
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00 
Average hours per week working for related orgs 0.0 
Bothwell, John
Title  DIRECTOR
Name of key/compensated person  JOHN BRYAN BOTHWELL
Average hours per week working for org  1.0
Reportable compensation from org  $0.00
Other comp, non-reportable, from org and related orgs  $0.00
Position  Individual trustee or director
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00
Average hours per week working for related orgs  0.0
Burke, J
Title  OFFICER
Name of key/compensated person  J TERRY BURKE
Average hours per week working for org  1.0
Reportable compensation from org  $0.00
Other comp, non-reportable, from org and related orgs  $0.00
Position  Officer
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00
Average hours per week working for related orgs  0.0
Campbell, Desmond
Title  DIRECTOR
Name of key/compensated person  DESMOND CAMPBELL
Average hours per week working for org  1.0
Reportable compensation from org  $0.00
Other comp, non-reportable, from org and related orgs  $0.00
Position  Individual trustee or director, Officer
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00
Average hours per week working for related orgs  0.0
Cayman, Crusader
TitleSECRETARYSecretary 
Name of key/compensated personCRUSADER INT'L MGMT CAYMANCRUSADER INT'L MGMT CAYMAN 
Average hours per week working for org1.01.0 
Reportable compensation from org$0.00$0.00 
Other comp, non-reportable, from org and related orgs$0.00$0.00 
PositionOfficerOfficer 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00 
Average hours per week working for related orgs0.00.0 
Collins, John
Title  DIRECTOR
Name of key/compensated person  JOHN A COLLINS
Average hours per week working for org  1.0
Reportable compensation from org  $0.00
Other comp, non-reportable, from org and related orgs  $0.00
Position  Individual trustee or director, Officer
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00
Average hours per week working for related orgs  0.0
Crossan, Gary
Title  DIRECTOR
Name of key/compensated person  GARY CROSSAN
Average hours per week working for org  1.0
Reportable compensation from org  $0.00
Other comp, non-reportable, from org and related orgs  $0.00
Position  Individual trustee or director
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00
Average hours per week working for related orgs  0.0
Demoss, Coyle
Title  DIRECTOR
Name of key/compensated person  COYLE E DEMOSS
Average hours per week working for org  1.0
Reportable compensation from org  $0.00
Other comp, non-reportable, from org and related orgs  $0.00
Position  Individual trustee or director
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00
Average hours per week working for related orgs  0.0
Elchelsdorfer, Stephen
TitleDIRECTORDirector 
Name of key/compensated personSTEPHEN G ELCHELSDORFERStephen G Elchelsdorfer 
Average hours per week working for org1.01.0 
Reportable compensation from org$0.00$0.00 
Other comp, non-reportable, from org and related orgs$0.00$0.00 
PositionIndividual trustee or directorIndividual trustee or director 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00 
Average hours per week working for related orgs0.00.0 
Fruze, John
Title  DIRECTOR
Name of key/compensated person  JOHN A FRUZE
Average hours per week working for org  1.0
Reportable compensation from org  $0.00
Other comp, non-reportable, from org and related orgs  $0.00
Position  Individual trustee or director
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00
Average hours per week working for related orgs  0.0
Harty, Peter
Title  DIRECTOR
Name of key/compensated person  PETER A HARTY
Average hours per week working for org  1.0
Reportable compensation from org  $0.00
Other comp, non-reportable, from org and related orgs  $0.00
Position  Individual trustee or director, Officer
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00
Average hours per week working for related orgs  0.0
Jaryga, Greg
TitleDIRECTORDIRECTORDIRECTOR
Name of key/compensated personGREG JARYGAGREG JARYGAGREG JARYGA
Average hours per week working for org1.01.01.0
Reportable compensation from org$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00
PositionIndividual trustee or directorIndividual trustee or directorIndividual trustee or director
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00
Average hours per week working for related orgs0.00.00.0
Ltd, Crusader
Title  OFFICER
Name of key/compensated person  CRUSADER INT'L MGMT CAYMAN LTD
Average hours per week working for org  1.0
Reportable compensation from org  $0.00
Other comp, non-reportable, from org and related orgs  $0.00
Position  Officer
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00
Average hours per week working for related orgs  0.0
Miller, S
Title  DIRECTOR
Name of key/compensated person  S RICK MILLER
Average hours per week working for org  1.0
Reportable compensation from org  $0.00
Other comp, non-reportable, from org and related orgs  $0.00
Position  Individual trustee or director
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00
Average hours per week working for related orgs  0.0
Novak, Mark
Title  OFFICER
Name of key/compensated person  MARK NOVAK
Average hours per week working for org  1.0
Reportable compensation from org  $0.00
Other comp, non-reportable, from org and related orgs  $0.00
Position  Officer
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00
Average hours per week working for related orgs  0.0
Singh, Inderjit
Title  DIRECTOR
Name of key/compensated person  INDERJIT SINGH
Average hours per week working for org  1.0
Reportable compensation from org  $0.00
Other comp, non-reportable, from org and related orgs  $0.00
Position  Individual trustee or director, Officer
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00
Average hours per week working for related orgs  0.0
Smith, John
Title  DIRECTOR
Name of key/compensated person  JOHN E SMITH
Average hours per week working for org  1.0
Reportable compensation from org  $0.00
Other comp, non-reportable, from org and related orgs  $0.00
Position  Individual trustee or director, Officer
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00
Average hours per week working for related orgs  0.0
Warren, Lawrence
Title  DIRECTOR
Name of key/compensated person  LAWRENCE WARREN
Average hours per week working for org  1.0
Reportable compensation from org  $0.00
Other comp, non-reportable, from org and related orgs  $0.00
Position  Individual trustee or director
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00
Average hours per week working for related orgs  0.0
Werley, S
TitleDIRECTORDIRECTORDIRECTOR
Name of key/compensated personS GARY WERLEYS GARY WERLEYS GARY WERLEY
Average hours per week working for org1.01.01.0
Reportable compensation from org$26,557.00$48,358.00$80,621.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00
PositionIndividual trustee or directorIndividual trustee or directorIndividual trustee or director
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00
Average hours per week working for related orgs0.00.00.0
Purpose: mission, activities & accomplishments
Mission or significant activitiesREINSURANCE PROVIDER FOR THE MEDICAL PROFESSIONAL LIABILITY RISKS FROM AN UNRELATED PRIMARY INSURER IN THE UNITED STATES OF AMERICA.REINSURANCE PROVIDER FOR THE MEDICAL PROFESSIONAL LIABILITY RISKS FROM AN UNRELATED PRIMARY INSURER IN THE UNITED STATES OF AMERICAREINSURANCE PROVIDER FOR THE MEDICAL PROFESSIONAL LIABILITY RISKS FROM AN UNRELATED PRIMARY INSURER IN THE UNITED STATES OF AMERICA.
Programs, including revenue & expenses
INSURANCE - GROSS RECEIPTS DURING THE YEAR ENDED DECEMBER 31, 2016, WERE $76,645. THE COMPANY'S PREMIUMS RECEIVED DURING THE YEAR ENDED DECEMBER 31, 2016, WERE $70,140, WHICH EXCEEDED 50% OF THEIR TOTAL RECEIPTS, THEREBY SATISFYING THE TAX EXEMPT STATUS REQUIREMENTS OF INTERNAL REVENUE SERVICE CODE SECTION 501(c)(15)(A).
Program descriptionINSURANCE - GROSS RECEIPTS DURING THE YEAR ENDED DECEMBER 31, 2016, WERE $76,645. THE COMPANY'S PREMIUMS RECEIVED DURING THE YEAR ENDED DECEMBER 31, 2016, WERE $70,140, WHICH EXCEEDED 50% OF THEIR TOTAL RECEIPTS, THEREBY SATISFYING THE TAX EXEMPT STATUS REQUIREMENTS OF INTERNAL REVENUE SERVICE CODE SECTION 501(c)(15)(A).INSURANCE - GROSS RECEIPTS DURING THE YEAR ENDED DECEMBER 31, 2015, WERE $106,141. THE COMPANY'S PREMIUMS RECEIVED during the year ended December 31, 2015, WERE $102,104, WHICH EXCEEDED 50% OF THEIR TOTAL RECEIPTS, THEREBY SATISFYING THE TAX EXEMPT STATUS REQUIREMENTS OF INTERNAL REVENUE SERVICE CODE SECTION 501(c)(15)(A).INSURANCE - GROSS RECEIPTS DURING THE YEAR ENDED DECEMBER 31 WERE $82,333 & THE COMPANY'S PREMIUMS RECEIVED WERE $77,154 WHICH EXCEEDED 50% OF THEIR TOTAL RECEIPTS THEREBY SATISFYING THE TAX EXEMPT STATUS REQUIREMENTS OF INTERNAL REVENUE SERVICE CODE SECTION 501(c)(15)(A).
Financial data
Expense categories (totals)
Sum (total functional expenses)$92,272.00$160,492.00$144,614.00
Revenue
Total revenue$76,645.00$106,141.00$82,333.00
Program service revenue (total)$70,140.00$102,104.00$77,154.00
Revenue from contributions (total)$0.00$0.00$0.00
Investment income$6,505.00$4,037.00$5,179.00
Total unrelated business revenue$0.00$0.00$0.00
Other revenue, current yr$0.00$0.00$0.00
Net unrelated business taxable revenue$0.00 $0.00
Total revenue from grants, etc., current yr$0.00$0.00$0.00
Gross receipts$492,077.00$543,871.00$646,210.00
Other types of revenue
Royalties (total)$0.00$0.00$0.00
Miscellaneous revenue (total)$0.00$0.00$0.00
Net revenue from gaming (total)$0.00$0.00$0.00
Income from dividends, interest, and similar investments$10,973.00$8,747.00$11,134.00
Net rental income$0.00$0.00$0.00
Net income from fundraising events$0.00$0.00$0.00
Net inventory sales (total)$0.00$0.00$0.00
Fees for services
Lobbying fees (total)$0.00$0.00$0.00
Legal fees (total)$0.00$0.00$0.00
Fundraising service fees (total)$0.00$0.00$0.00
General management fees (total)$30,000.00$25,000.00$25,000.00
Investment management fees (total)$0.00$0.00$0.00
Accounting service fees (total)$17,980.00$18,960.00$14,560.00
Assets and liabilities
Total assets$729,141.00$738,536.00$855,480.00
Total assets, beginning of year$738,536.00$855,480.00$918,380.00
Total liabilities$102,652.00$67,952.00$77,342.00
Total liabilities, beginning of year$67,952.00$77,342.00$53,462.00
Pledges & accounts receivable, net$0.00$0.00$0.00
Loans & receivables from key persons$0.00$0.00$0.00
Net assets$626,489.00$670,584.00$778,138.00
Net assets, beginning of year$670,584.00$778,138.00$864,918.00
Other liabilities$74,999.00$38,999.00$63,209.00
Bond liabilities$0.00$0.00$0.00
Intangible assets$0.00$0.00$0.00
Other assets$24,018.00$27,434.00$12,033.00
Investments: other securities$0.00$0.00$0.00
Investments: publicly traded securities$347,431.00$455,857.00$508,989.00
Cash: non-interest bearing$265,107.00$156,918.00$333,254.00
Cash: non-interest bearing, beginning of year$156,918.00$242,994.00$332,474.00
Investments: program-related$0.00$0.00$0.00
Escrow or custodial account liability$0.00$0.00$0.00
Loans and other payables to key persons$0.00$0.00$0.00
Grants payable$0.00$0.00$0.00
Inventories for sale or use$0.00$0.00$0.00
Other financial variables
Revenue less expenses-$15,627.00-$54,351.00-$62,281.00
Advertising (total)$0.00$0.00$0.00
Savings & temp cash investment$90,260.00$90,260.00$0.00
Accounts receivable, net$0.00$0.00$0.00
Prepaid expenses & deferred charges$2,325.00$8,067.00$1,204.00
Accounts payable & accrued expenses$27,653.00$28,953.00$14,133.00
Deferred revenue$0.00$0.00$0.00
Unsecured notes & loans to unrelated parties$0.00$0.00$0.00
Secured mortgages and notes payable$0.00$0.00$0.00
Total net assets or fund balances$626,489.00$670,584.00$778,138.00
Depreciation, depletion, amortization$0.00$0.00$0.00
Payment to affiliates$0.00$0.00$0.00
Governance and accountability
Number of voting members3413
Number of independent voting members2312
Financial sheets auditedTrueTrueTrue
Tax year start date2016-01-012015-01-012014-01-01
Tax year end date2016-12-312015-12-312014-12-31
Accounting methodAccrualAccrualAccrual
Indicators for schedules (selected)
Business transaction with employeeTrueTrueTrue
Metadata about the filing
E-return type990990990
Date e-filing submitted2018-01-242016-12-162016-02-10
IRS schema version2016v3.12015v2.12014v5.0
Filing identifier201703119349302030201622229349300212201533179349308318
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