Liabilities / Assets
63rd percentile
Higher debt load relative to assets than 63% of similar nonprofits.
Keystone Indemnity Company Ltd C/O Strategic Risk Solutions
990 • Fiscal year 2014 • EIN 03-0371612
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.39x
Liabilities / Revenue
90th percentile
Higher debt load relative to revenue than 90% of similar nonprofits.
Net Margin
100th percentile
Higher net margin than 100% of similar nonprofits.
Top Officer Pay
96th percentile
Higher top officer pay than 96% of similar nonprofits.
Top officer pay equals 49.4% of source-year revenue.
Asset Growth
74th percentile
Faster asset growth than 74% of similar nonprofits.
Revenue Growth
78th percentile
Faster revenue growth than 78% of similar nonprofits.
Balance Sheet
Assets
Up$15,017,968
Up $1,534,596 (+11%) from 2013
Net Assets
Up$9,090,696
Up $2,731,279 (+43%) from 2013
Liabilities
Down$5,927,272
Down $1,196,683 (-17%) from 2013
Revenue And Expenses
Revenue
Up$1,953,715
Up $337,237 (+21%) from 2013
Expenses
Down-$1,036,453
Down $1,838,875 (-229%) from 2013
Net Income
Up$2,990,168
Up $2,176,112 (+267%) from 2013
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Oct 1, 2013 to Sep 30, 2014
- Signed
- Aug 13, 2015
- Return Version
- 2013v4.0
- Gross Receipts
- $6,010,273
Mission and Program Overview
Mission
Provide professional medical liability insurance and general liability insurance for masonicare corporation and its affiliates.
See schedule oprovide professional medical liability insurance and general liability insurance for masonicare, inc. And its affiliates.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments in Publicly Traded Securities | $11,258,151 | $12,623,295 | ▲ $1,365,144 |
| Rtn Earn Endowment Incm Other Fnds | $3,137,994 | $5,869,273 | ▲ $2,731,279 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $2,971,423 | $2,971,423 | → $0 |
| Investments Other Securities | $747,200 | $711,200 | ▼ $36,000 |
| Savings and Temporary Cash Investments | $615,128 | $497,293 | ▼ $117,835 |
| Cap Stk Tr Prin Current Funds | $250,000 | $250,000 | → $0 |
| Prepaid Expenses and Deferred Charges | $52,204 | $49,327 | ▼ $2,877 |
| Accounts Receivable | $17,869 | $17,863 | ▼ $6 |
| Total Assets | $13,483,372 | $15,017,968 | ▲ $1,534,596 |
| Other Assets Total | $792,820 | $1,118,990 | ▲ $326,170 |
| Liabilities | |||
| Other Liabilities | $7,022,022 | $5,872,743 | ▼ $1,149,279 |
| Accounts Payable and Accrued Expenses | $101,933 | $54,529 | ▼ $47,404 |
| Total Liabilities | $7,123,955 | $5,927,272 | ▼ $1,196,683 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $6,359,417 | $9,090,696 | ▲ $2,731,279 |
| Total Liabilities and Net Assets / Fund Balance | $13,483,372 | $15,017,968 | ▲ $1,534,596 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Other Assets Org | $1,117,115 | - | - |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Howard W Orr | Volunteer/chairman |
| Stephen B Mcpherson | President |
| Charles C Maxson | Volunteer/vice President |
| Carleton V Erickson | Volunteer/director |
| Patricia L Henderson | Asst. Secretary |
| R Scott Thelen | Secretary/treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $836,169
- Investment Income
- $1,117,546
- Other Revenue
- $0
- Change in Net Assets
- $2,990,168
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $1,953,715
- Revenue Not Reported on Financial Statements
- $0
- Revenue Not Reported on Form 990
- $0
- Total Revenue per Audited Statements
- $1,953,715
- Total Revenue per Form 990
- $1,953,715
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
| Other Expenses | $-1,036,453 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Fees for Services Other | $48,000 | - | - | $48,000 |
| Fees for Service Investment Mgmnt Fees | $45,225 | - | - | $45,225 |
| Fees for Services Management | $31,200 | $10,400 | - | $41,600 |
| Fees for Services Accounting | - | $22,267 | - | $22,267 |
| Fees for Services Legal | $8,256 | - | - | $8,256 |
| Conferences and Meetings | $8,004 | - | - | $8,004 |
| All Other Expenses | $7,500 | - | - | $7,500 |
| Travel | $5,414 | - | - | $5,414 |
| Office Expenses | $5,113 | - | - | $5,113 |
| Information Technology | $4,400 | - | - | $4,400 |
| Other Expenses | $-1,309,156 | - | - | $-1,309,156 |
| Total Functional Expenses | $-1,069,120 | $32,667 | $0 | $-1,036,453 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Expenses Not Reported on Financial Statements | $0 |
| Expenses Not Reported on Form 990 | $0 |
| Expenses per Audited Statements | $-1,036,453 |
| Total Expenses per Audited Statements | $-1,036,453 |
| Total Expenses per Form 990 | $-1,036,453 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Insider Transactions and Loans
Interested-Person Transactions
| Interested Party | Relationship | Description | Shared Revenue | Amount |
|---|---|---|---|---|
| Patricia L Henderson | Provides Specialized Insurance Management Services to the Organization. | Patricia Henderson Is an Employee and Officer of Strategic Risk Solutions. Strategic Risk Solutions Provides Specialized Insurance Management, Accounting and Regulatory Review Services to the Organization. | No | $41,600 |
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Unpaid Losses and Loss Adjustment Expenses | $5,865,467 |
| Due to Related Parties | $7,276 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Backup withholding compliance
- Yes
- Business relationship with family members
- No
- Business relationship with organization members
- Yes
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- Yes
- CEO compensation reviewed
- No
- Other officer compensation reviewed
- Yes
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- Yes
- Key decisions subject to board approval
- Yes
- Management duties delegated
- Yes
Governance Explanations
Form 990, Part VI, Section A, Line 3
“The organization delegates control over management duties to strategic risk solutions, a provider of specialized insurance management services to the captive insurance industry. The organization contracts with strategic risk solutions to receive specialized insurance accounting and management services.”
Form 990, Part VI, Section A, Line 6
“The organization has one class member (masonicare, inc.) with the right to elect the members of the governing body and to participate in the organization's governance.”
Form 990, Part VI, Section A, Line 7A
“The company's board of directors vote on the composition of the board which includes masonicare members and non-masonicare members.”
Form 990, Part VI, Section A, Line 7B
“Masonicare, inc. Is the only member of the organization with voting rights. All decisions of the governing body of the organization are subject to masonicare's approval.”
Form 990, Part VI, Section B, Line 11
“Masonicare management reviews the form 990 tax return for completeness and accuracy. It is then reviewed by the chief executive officer and chairman of the board. The tax return is then placed on a secure website that can be accessed by board members for their review. After responding to comments/questions, changes are made as appropriate. At a full board meeting, a discussion is held regarding comments/questions and the changes that were made. The return is then finalized and filed.”
Form 990, Part VI, Section B, Line 12C
“By vermont law, captive insurance companies are required to collect conflict of interest disclosures from all officers and directors. The organization abides by the vermont legal requirement on an annual basis. In addition, masonicare, inc (the parent) requires all voting board members to disclose conflicts of interest. The entire process is coordinated by the masonicare corporate compliance officer. Summaries of the conflict of interest disclosures are shared among all board members of masonicare, inc., the parent company.”
Form 990, Part VI, Section B, Line 15B
“Masonicare uses a compensation committee, an independent consultant, written employment contract (ceo and vice president of medical affairs only) and approval by the compensation committee to establish compensation for the officers and senior leaders of masonicare and its affiliates.”
Form 990, Part VI, Section C, Line 19
“The organization makes form 990, its governing documents and financial statements available for public inspection upon request.”
Filing and Contact Details
Filer
- EIN
- 03-0371612
- Phone
- 8028601958
Signing Officer
- Name
- James Rude
- Title
- CFO
- Phone
- 8028601958
- Signed
- 2015-08-13
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Stephen B Mcpherson
- Formed
- 2001
- Legal Domicile
- Vt
- Voting Board Members
- 6
- Independent Board Members
- 4
- Employees
- 0
- Volunteers
- 0
Preparer
- Preparer
- Daniel a Gregor
- Phone
- 8606789200
Supplemental Narrative
Additional Explanations
Form 990, Part IX, Line 11G
“Other fees: program service expenses 48,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 48,000.”
Form 990, Part IX, Line 24E
“Premium taxes: program service expenses 7,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 7,500.”
FORM 990, PART XI, LINE 9:
“Other comprehensive income -258,889.”
Form 990, Part XII Line 2 C
“The organization's board of directors assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant.”
Financial Statement Notes
PART X, LINE 2:
“The company accounts for uncertain tax positions in accordance with fasb asc 740 "income taxes", which prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken, or expected to be taken, on a tax return. Fasb asc 740 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Fasb asc 740 permits the recognition of tax positions that meet a "more likely than not" threshold, based on the technical merits of the position. The company did not record any unrecognized tax benefits for the years ended september 30, 2014 and 2013. The company anticipates that it will not have a change in unrecognized tax benefits during the next twelve months that would have a material impact on the company's financial statements. The company's policy is to recognize interest and penalties related to income taxes as a component of general and administrative expenses. For the years ending september 30, 2014 and 2013, the company did not record any penalties or interest associated with unrecognized tax benefits. All u.s. Federal tax years from 2011 and forward are eligible for audit by the irs.”
Raw XML AppendixShowing 400 of 669 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/Desc | 0 | MASONICARE IS THE LEADING PROVIDER OF HEALTHCARE AND RETIREMENT LIVING FOR SENIORS IN THE STATE OF CONNECTICUT. THROUGH ITS AFFILIATES, MASONICARE PROVIDES CONTINUING CARE RETIREMENT COMMUNITY LIVING, INDEPENDENT LIVING, ASSISTED LIVING, SKILLED NURSING CARE (LONG TERM INCLUDING MEMORY CARE AND SHORT-TERM REHABILITATION), ACUTE CARE (PSYCHIATRIC, MEDICAL, AND HOSPICE), AMBULATORY CARE CLINICS, HOME HEALTH AND HOSPICE SERVICES AND AT-HOME SERVICES (LIVE-IN, PATIENT CARE ATTENDANTS AND HOMEMAKER). KEYSTONE INDEMNITY COMPANY PROVIDES PROFESSIONAL AND GENERAL LIABILITY INSURANCE COVERAGES TO MEMBERS OF THE MASONICARE FAMILY. |
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| IRS990/OtherExpensesGrp/Desc | 3 | INCURRED LOSSES |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 43000 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 23904 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 10020 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | -1309156 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 43000 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 23904 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 10020 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | -1309156 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 7022022 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 5872743 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | 2971423 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | 2971423 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 52204 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 49327 |
| IRS990/PrincipalOfficerNm | 0 | STEPHEN B MCPHERSON |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 524298 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | PREMIUMS EARNED |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 836169 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 836169 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 0 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 701878 |
| IRS990/PYOtherExpensesAmt | 0 | 802422 |
| IRS990/PYOtherRevenueAmt | 0 | 0 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 914600 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 814056 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 0 |
| IRS990/PYTotalExpensesAmt | 0 | 802422 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 1616478 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 2990168 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 0 |
| IRS990/ReportOtherAssetsInd | 0 | 1 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 836169 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 3137994 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 5869273 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 615128 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 497293 |
| IRS990ScheduleA/CertificationInd | 0 | X |
| IRS990ScheduleA/Contribution35ControlledInd | 0 | 0 |
| IRS990ScheduleA/ContributionControllerInd | 0 | 0 |
| IRS990ScheduleA/ContributionFamilyInd | 0 | 0 |
| IRS990ScheduleA/SupportedOrganizationsTotalCnt | 0 | 9 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 0 | 061070285 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 1 | 061050830 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 2 | 061101924 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 3 | 061435919 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 4 | 061435920 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 5 | 060655131 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 6 | 202377783 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 7 | 260758992 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 8 | 464656008 |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 0 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 1 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 2 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 3 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 4 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 5 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 6 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 7 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 8 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc | 0 | 9 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc | 1 | 9 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc | 2 | 9 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc | 3 | 11 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc | 4 | 11 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc | 5 | 3 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc | 6 | 9 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc | 7 | 9 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc | 8 | 3 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 1 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 2 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 3 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 4 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 5 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 6 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 7 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 8 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1 | 0 | MASONICARE AT NEWTOWN INC |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1 | 1 | MASONICARE AT ASHLAR VILLAGE INC |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1 | 2 | MASONICARE HOME HEALTH AND HOSPICE INC |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1 | 3 | MASONICARE INC |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1 | 4 | MASONIC CHARITY FOUNDATION OF CT INC |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1 | 5 | MASONICARE HEALTH CENTER |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1 | 6 | MASONICARE AT HOME INC |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1 | 7 | MASONICARE PARTNERS HOME HEALTH AND HOSPICE INC |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1 | 8 | MASONICARE AT MYSTIC INC |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrgNotifiedInd | 0 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrgNotifiedInd | 1 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrgNotifiedInd | 2 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrgNotifiedInd | 3 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrgNotifiedInd | 4 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrgNotifiedInd | 5 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrgNotifiedInd | 6 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrgNotifiedInd | 7 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrgNotifiedInd | 8 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/USOrganizedInd | 0 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/USOrganizedInd | 1 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/USOrganizedInd | 2 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/USOrganizedInd | 3 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/USOrganizedInd | 4 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/USOrganizedInd | 5 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/USOrganizedInd | 6 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/USOrganizedInd | 7 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/USOrganizedInd | 8 | 1 |
| IRS990ScheduleA/SupportingOrganization509a3Ind | 0 | X |
| IRS990ScheduleA/SupportingOrgType1Ind | 0 | X |
| IRS990ScheduleA/SupportSumAmt | 0 | 0 |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | -1036453 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 0 | 1875 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 1 | 1117115 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | DEFERRED PREMIUM TAXES |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 1 | REINSURANCE RECOVERABLE |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 5865467 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 7276 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | UNPAID LOSSES AND LOSS ADJUSTMENT EXPENSES |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | DUE TO RELATED PARTIES |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 0 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 1953715 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE COMPANY ACCOUNTS FOR UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH FASB ASC 740 "INCOME TAXES", WHICH PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN, OR EXPECTED TO BE TAKEN, ON A TAX RETURN. FASB ASC 740 ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. FASB ASC 740 PERMITS THE RECOGNITION OF TAX POSITIONS THAT MEET A "MORE LIKELY THAN NOT" THRESHOLD, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE COMPANY DID NOT RECORD ANY UNRECOGNIZED TAX BENEFITS FOR THE YEARS ENDED SEPTEMBER 30, 2014 AND 2013. THE COMPANY ANTICIPATES THAT IT WILL NOT HAVE A CHANGE IN UNRECOGNIZED TAX BENEFITS DURING THE NEXT TWELVE MONTHS THAT WOULD HAVE A MATERIAL IMPACT ON THE COMPANY'S FINANCIAL STATEMENTS. THE COMPANY'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES RELATED TO INCOME TAXES AS A COMPONENT OF GENERAL AND ADMINISTRATIVE EXPENSES. FOR THE YEARS ENDING SEPTEMBER 30, 2014 AND 2013, THE COMPANY DID NOT RECORD ANY PENALTIES OR INTEREST ASSOCIATED WITH UNRECOGNIZED TAX BENEFITS. ALL U.S. FEDERAL TAX YEARS FROM 2011 AND FORWARD ARE ELIGIBLE FOR AUDIT BY THE IRS. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 0 |
| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 1118990 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | -1036453 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 5872743 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 1953715 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 1953715 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | -1036453 |
| IRS990ScheduleJ/AnyNonFixedPaymentsInd | 0 | 1 |
| IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd | 0 | 0 |
| IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd | 0 | 0 |
| IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd | 0 | 0 |
| IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd | 0 | 0 |
| IRS990ScheduleJ/EquityBasedCompArrngmInd | 0 | 0 |
| IRS990ScheduleJ/IdemnificationGrossUpPmtsInd | 0 | X |
| IRS990ScheduleJ/InitialContractExceptionInd | 0 | 0 |
| IRS990/ScheduleJRequiredInd | 0 | 1 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt | 0 | 15000 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt | 0 | 536685 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt | 1 | 309498 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt | 0 | 31026 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt | 1 | 36748 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt | 0 | 383297 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt | 1 | 37304 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 0 | STEPHEN B MCPHERSON |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 1 | R SCOTT THELEN |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 0 | PRESIDENT |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 1 | SECRETARY/TREASURER |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 1 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt | 0 | 966008 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt | 1 | 383550 |
| IRS990ScheduleJ/SeverancePaymentInd | 0 | 0 |
| IRS990ScheduleJ/SubstantiationRequiredInd | 0 | 0 |
| IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt | 0 | STEPHEN B. MCPHERSON WAS REIMBURSED FOR THE GROSSED-UP VALUE OF DISABILITY INSURANCE PREMIUMS ($16,002) UNDER THE TERMS OF THE EXECUTIVE'S EMPLOYMENT CONTRACT (INCLUDED IN SHCEDULE J, PART II, COLUMN (B)(III) "OTHER REPORTABLE COMPENSATION"). PART 1, LINE 3: MASONICARE INC. USES A COMPENSATION COMMITTEE, AN INDEPENDENT CONSULTANT, WRITTEN EMPLOYMENT CONTRACT (CEO ONLY) AND APPROVAL BY THE COMPENSATION COMMITTEE TO ESTABLISH COMPENSATION FOR THE OFFICERS AND SENIOR LEADERS OF MASONICARE AND ITS AFFILIATES. THIS PROCESS WAS COMPLETED IN NOVEMBER 2013. |
| IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt | 1 | STEPHEN B. MCPHERSON RECEIVED A PAYMENT FROM A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN OF $349,773 (INCLUDED IN SCHEDULE J,PART II, COLUMN (B)(III) "OTHER REPORTABLE COMPENSATION". R. SCOTT THELEN RECEIVED A PAYMENT FROM A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN OF $36,819 (INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III) "OTHER REPORTABLE COMPENSATION"). PART I, LINE 7: COMPENSATION TO REWARD SENIOR MANAGEMENT FOR ACHIEVING ANNUAL QUALITY, STRATEGIC AND FINANCIAL GOALS FOR THE ORGANIZATION FOR AMOUNTS REPORTED ON SCHEDULE J, PART II, COLUMN (B)(II) "BONUS AND INCENTIVE COMPENSATION". A TAXABLE AUTOMOBILE ALLOWANCE WAS PROVIDED TO STEPHEN B. MCPHERSON ($13,000) AS PART OF HIS EMPLOYMENT ARRANGEMENT (INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III) "OTHER REPORTABLE COMPENSATION"). |
| IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART I, LINE 1A |
| IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART I, LINE 4B |
| IRS990ScheduleJ/SupplementalNonqualRtrPlanInd | 0 | 1 |
| IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd | 0 | 1 |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm | 0 | PATRICIA L HENDERSON |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt | 0 | PROVIDES SPECIALIZED INSURANCE MANAGEMENT SERVICES TO THE ORGANIZATION. |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd | 0 | 0 |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt | 0 | 41600 |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc | 0 | PATRICIA HENDERSON IS AN EMPLOYEE AND OFFICER OF STRATEGIC RISK SOLUTIONS. STRATEGIC RISK SOLUTIONS PROVIDES SPECIALIZED INSURANCE MANAGEMENT, ACCOUNTING AND REGULATORY REVIEW SERVICES TO THE ORGANIZATION. |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THE ORGANIZATION DELEGATES CONTROL OVER MANAGEMENT DUTIES TO STRATEGIC RISK SOLUTIONS, A PROVIDER OF SPECIALIZED INSURANCE MANAGEMENT SERVICES TO THE CAPTIVE INSURANCE INDUSTRY. THE ORGANIZATION CONTRACTS WITH STRATEGIC RISK SOLUTIONS TO RECEIVE SPECIALIZED INSURANCE ACCOUNTING AND MANAGEMENT SERVICES. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE ORGANIZATION HAS ONE CLASS MEMBER (MASONICARE, INC.) WITH THE RIGHT TO ELECT THE MEMBERS OF THE GOVERNING BODY AND TO PARTICIPATE IN THE ORGANIZATION'S GOVERNANCE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE COMPANY'S BOARD OF DIRECTORS VOTE ON THE COMPOSITION OF THE BOARD WHICH INCLUDES MASONICARE MEMBERS AND NON-MASONICARE MEMBERS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | MASONICARE, INC. IS THE ONLY MEMBER OF THE ORGANIZATION WITH VOTING RIGHTS. ALL DECISIONS OF THE GOVERNING BODY OF THE ORGANIZATION ARE SUBJECT TO MASONICARE'S APPROVAL. |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2014 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $15,017,968
- Liabilities
- $5,927,272
- Net assets
- $9,090,696
- Revenue
- $1,953,715
- Expenses
- -$1,036,453
- Net income
- $2,990,168