Civic Intelligence

Broadline Risk Retention Group Inc Co Marsh Management Services Inc

EIN 27-2583356 • 501(c)3 • Colchester, VT

Profile

Broadline risk retention group, inc. Is a nonprofit vermont corporation organized and operated as a captive insurance company exclusively to support the albert einstein healthcare network ("aehn") and the charitable healthcare activities of the member organizations of aehn. The aehn members operate facilities that provide general medical and health services, teaching facilities, behavioral health services, rehabilitation, acute care and emergency services. The company assists aehn and the aehn members in managing risks and paying claims and claims expenses incurred in carrying out their exempt healthcare purposes. As such, the company is an integral part of their exempt activities.

Refreshing map…

463 Mountain View Drive Suite 301Colchester, VT 05446

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2022

Liabilities / Revenue

4th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $100M-$250M nonprofits • Source year 2022

Net Margin

69th percentile

13%

Higher net margin than 69% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2022

Top Officer Pay

64th percentile

$638,451

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2022

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Revenue Growth

98th percentile

337%

Faster revenue growth than 98% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Assets

Down

$0

Down $124,315,660 (-100%) from 2020

Liabilities

Down

$0

Down $82,663,045 (-100%) from 2020

Net Assets

Down

$0

Down $41,652,615 (-100%) from 2020

Revenue

Up

$98,318,401

Up $76,114,567 (+343%) from 2020

Expenses

Up

$85,367,393

Up $64,447,436 (+308%) from 2020

Net Income

Up

$12,951,008

Up $11,667,131 (+909%) from 2020

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2013: $99,464,619Liabilities 2013: $77,259,050Net Assets 2013: $22,205,5692013Assets 2014: $105,664,275Liabilities 2014: $78,315,080Net Assets 2014: $27,349,1952014Assets 2015: $104,354,099Liabilities 2015: $73,328,038Net Assets 2015: $31,026,0612015Assets 2016: $109,240,866Liabilities 2016: $77,220,675Net Assets 2016: $32,020,1912016Assets 2017: $115,695,642Liabilities 2017: $87,876,286Net Assets 2017: $27,819,3562017Assets 2018: $103,418,872Liabilities 2018: $75,181,290Net Assets 2018: $28,237,5822018Assets 2019: $112,721,389Liabilities 2019: $78,161,833Net Assets 2019: $34,559,5562019Assets 2020: $124,315,660Liabilities 2020: $82,663,045Net Assets 2020: $41,652,6152020Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2022

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$100M$50M$0-$50MRevenue 2013: $28,315,425Expenses 2013: $22,512,884Net Income 2013: $5,802,5412013Revenue 2014: $19,540,969Expenses 2014: $18,179,249Net Income 2014: $1,361,7202014Revenue 2015: $20,457,936Expenses 2015: $15,587,507Net Income 2015: $4,870,4292015Revenue 2016: $18,657,309Expenses 2016: $21,214,818Net Income 2016: -$2,557,5092016Revenue 2017: $20,981,180Expenses 2017: $21,900,529Net Income 2017: -$919,3492017Revenue 2018: $29,233,837Expenses 2018: $17,226,748Net Income 2018: $12,007,0892018Revenue 2019: $21,290,245Expenses 2019: $22,262,780Net Income 2019: -$972,5352019Revenue 2020: $22,203,834Expenses 2020: $20,919,957Net Income 2020: $1,283,8772020Revenue 2022: $98,318,401Expenses 2022: $85,367,393Net Income 2022: $12,951,0082022

Highlighted filing

2022

Revenue$98,318,401
Expenses$85,367,393
Net Income$12,951,008

Filings

Latest Detailed Filing

The latest 2022 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2020 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$26,578,696
Mission and Program Overview

Mission

Broadline risk retention group, inc. Is a nonprofit vermont corporation organized and operated as a captive insurance company exclusively to support the albert einstein healthcare network ("aehn") and the charitable healthcare activities of the member organizations of aehn. The aehn members operate facilities that provide general medical and health services, teaching facilities, behavioral health services, rehabilitation, acute care and emergency services. The company assists aehn and the aehn members in managing risks and paying claims and claims expenses incurred in carrying out their exempt healthcare purposes. As such, the company is an integral part of their exempt activities.

To provide professional, general and excess liability insurance coverages to the albert einstein healthcare network and its eight affiliated members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$83,361,111$92,089,140▲ $8,728,029
Rtn Earn Endowment Incm Other Fnds$34,551,556$41,644,615▲ $7,093,059
Accounts Receivable$9,929,018$10,023,651▲ $94,633
Savings and Temporary Cash Investments$7,653,885$9,588,380▲ $1,934,495
Prepaid Expenses and Deferred Charges$1,299,034$1,508,806▲ $209,772
Pd in Cap Srpls Land Bldg Eqp Fund$8,000$8,000→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0--
Land, Buildings, and Equipment, Net$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$112,721,389$124,315,660▲ $11,594,271
Other Assets Total$10,478,341$11,105,683▲ $627,342
Liabilities
Other Liabilities$66,785,911$70,996,436▲ $4,210,525
Deferred Revenue$11,137,150$11,415,649▲ $278,499
Accounts Payable and Accrued Expenses$238,772$250,960▲ $12,188
Total Liabilities$78,161,833$82,663,045▲ $4,501,212
Net Assets / Fund Balance
Total Net Assets Fund Balance$34,559,556$41,652,615▲ $7,093,059
Total Liabilities and Net Assets / Fund Balance$112,721,389$124,315,660▲ $11,594,271

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$270,683--
Other Securities$92,089,140--
Compensation and Service Providers

Board Members and Trustees

NameTitle
-President/director
-Director
-Treasurer/director
-Assistant Treasurer
-Secretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Eckert Seamans Cherin & Mellott LLCLoss Adjuster ServicesPO Box 643187, Ste 3400, Pittsburgh, PA 15264-3187$817,246
Obermayer Rebmann Maxwell & Hippel LLPLoss Adjuster Services1500 Market Street, Ste 1600, Philadephia, PA 19102$536,148
Goldberg Miller & Rubin PCLoss Adjuster Services121 South Broad Street, Suite 300, Philadelphia, PA 19107$502,764
Post & Schell PCLoss Adjuster Services1600 John F Kennedy Blvd, Philadelphia, PA 19103-2808$493,892
O'brien & Ryan LLPLoss Adjuster Services2250 Hickory Road, Plymouth Meeting, PA 19462$344,839
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$20,256,437
Investment Income
$1,947,397
Other Revenue
$0
Change in Net Assets
$1,283,877

Audited Revenue Reconciliation

Revenue per Audited Statements
$21,982,695
Revenue Not Reported on Financial Statements
$221,139
Revenue Not Reported on Form 990
$5,809,182
Other Revenue Adjustments
$221,139
Total Revenue per Audited Statements
$27,791,877
Total Revenue per Form 990
$22,203,834
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$20,919,957
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$405,656-$405,656
Other Expenses$300,000--$300,000
Fees for Services Other$73,750$70,000$0$143,750
Fees for Services Management$87,634$29,211-$116,845
All Other Expenses$25,985$77,957$0$103,942
Information Technology$67,128--$67,128
Fees for Services Accounting-$50,557-$50,557
Fees for Services Legal$2,623$874-$3,497
Total Functional Expenses$20,285,702$634,255$0$20,919,957

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$20,919,957
Total Expenses per Form 990$20,919,957
Total Expenses per Audited Statements$20,698,818
Expenses Not Reported on Financial Statements$0
Other Expense Adjustments$0
Expenses Not Reported on Form 990$-221,139
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Unpaid Losses & Loss Adjustment Expenses$70,596,436
Due to Affiliate$400,000
Losses Payable-
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 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 15A PROCESS TO ESTABLISH COMPENSATION FOR TOP MANAGEMENT OFFICAL

The president of broadline risk retention group, inc. Is paid by albert einstein healthcare network. Independent members of the compensation committee of the board of trustees of albert einstein healthcare network review and approve the compensation for the president. The compensation committee requires that one or more independent compensation experts review the compensation to determine that such compensation is appropriate and reasonable and such independent expert uses applicable comparability data. The committee reviews the reports of the independent experts in detail and documents the data reviewed, the deliberation and discussion contemporaneously.

Form 990, Part VI, Line 15B PROCESS TO ESTABLISH COMPENSATION FOR OTHER OFFICERS

The officers of broadline risk retention group, inc. Are paid by albert einstein healthcare network. Independent members of the compensation committee of the board of trustees of albert einstein healthcare network review and approve the compensation for the officers. The compensation committee requires that one or more independent compensation experts review the compensation of all such persons to determine that such compensation is appropriate and reasonable and such independent expert uses applicable comparability data. The committee reviews the reports of the independent experts in detail and documents the data reviewed, the deliberation and discussion contemporaneously.

Form 990, Part VI, Line 3 Delegation of management duties

The organization contracts the services of marsh management services inc. (d/b/a marsh captive solutions) to provide specialized insurance management services. Lori white who is a director of the organization, is a senior vice president of marsh management services inc.

Form 990, Part VI, Line 6 Classes of members or stockholders

Broadline risk retention group, inc. Is owned by the albert einstein healthcare network and its eight affiliated member healthcare companies, all of which are tax-exempt section 501(c)(3) organizations.

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

The organization's governing body is elected annually by majority vote of the affiliated members at a meeting of the affiliated members, or by unanimous written consent of the affiliated members.

Form 990, Part VI, Line 8B Documentation of meetings held by committees of governing body

There are no committees with authority to act on behalf of the governing body.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The form 990 is prepared by an external accounting firm and reviewed by management. It will be distributed to all board members prior to filing with the irs.

Form 990, Part VI, Line 12C Conflict of interest policy

THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. The Board annually collects the conflict of interest disclosure statement from each of the Corporation's officers and directors which discloses whether the individual has outside commitments, personal or otherwise, that would divert him or her from his or her duty to further the interests of the Corporation

Form 990, Part VI, Line 19 Required documents available to the public

The organization makes its governing documents and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Broadline Risk Retention Group Inc co MARSH MANAGEMENT SERVICES INC
EIN
27-2583356
Phone
8028645599
Address
463 Mountain View Drive Suite 301, Colchester, VT 05446

Signing Officer

Name
Gerry Blaney
Title
Treasurer
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
2010
Legal Domicile
Vt
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Crowe Llp
Address
401 East Las Olas Blvd Suite 1100, Fort Lauderdale, FL 33301-4230
Preparer
Brittney Kocaj
Phone
9542028600
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

The Company accounts for income taxes in accordance with FASB ASC 740, "Income Taxes." The Company, under certain provisions of FASB ASC 740, accounts for how uncertain tax positions should be recognized, measured, presented and disclosed within their financial statements. The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company did not record any unrecognized tax benefits as of December 31, 2020 and 2019. The Company does not believe it is reasonably possible that its unrecognized tax benefits would materially change in the next twelve months. The Company's policy is to include penalties and interest related to unrecognized tax benefits as a component of its provision for income taxes. As of December 31, 2020 and 2019, the Company did not record any penalties or interest associated with unrecognized tax benefits. Tax years from 2017 forward remain open and subject to examination by the IRS.

Schedule D, Part XI, Line 4(B) Other revenues in form 990 not in audited financial statements

Premium Financing - 203680 Dividends - 17459

Schedule D, Part XII, Line 2(D) Other expenses in audited financial statements not in form 990

Premium Financing - -203680 Dividends - -17459

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IRS990/MissionDesc0BROADLINE RISK RETENTION GROUP, INC. IS A NONPROFIT VERMONT CORPORATION ORGANIZED AND OPERATED AS A CAPTIVE INSURANCE COMPANY EXCLUSIVELY TO SUPPORT THE ALBERT EINSTEIN HEALTHCARE NETWORK ("AEHN") AND THE CHARITABLE HEALTHCARE ACTIVITIES OF THE MEMBER ORGANIZATIONS OF AEHN. THE AEHN MEMBERS OPERATE FACILITIES THAT PROVIDE GENERAL MEDICAL AND HEALTH SERVICES, TEACHING FACILITIES, BEHAVIORAL HEALTH SERVICES, REHABILITATION, ACUTE CARE AND EMERGENCY SERVICES. THE COMPANY ASSISTS AEHN AND THE AEHN MEMBERS IN MANAGING RISKS AND PAYING CLAIMS AND CLAIMS EXPENSES INCURRED IN CARRYING OUT THEIR EXEMPT HEALTHCARE PURPOSES. AS SUCH, THE COMPANY IS AN INTEGRAL PART OF THEIR EXEMPT ACTIVITIES.
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IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0Barry Freedman
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0IN RETURN FOR PREMIUMS PAID FOR INSURANCE COVERAGE, THE ORGANIZATION ADMINISTERS AND PAYS LIABILITY CLAIMS ON BEHALF OF EACH MEMBER OF THE ALBERT EINSTEIN HEALTHCARE NETWORK (AEHN) LISTED ON SCHEDULE A, PART 1, LINE 12G COLUMN (I). TOTAL NET EARNED PREMIUMS OF BROADLINE RISK RETENTION GROUP, INC. FROM THE MEMBER INSURED ORGANIZATIONS FOR THE YEAR ENDED DECEMBER 31, 2020, WERE $20,052,757, AND TOTAL CLAIMS PAID OR INCURRED FOR SUCH YEAR ON BEHALF OF THE MEMBERS WERE $19,074,981.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1The articles of incorporation of the organization note that Broadline Risk Retention Group ("BRRG") exists for the benefit of the organizations comprising the Albert Einstein Healthcare Network("AEHN") that are recognized as exempt organizations described in code Section 501(c)(3) and Code Section 509(a)(1), or 509(a)(2). While these organization are not listed specifically in the governing documents, each organization that is part of AEHN is supported by BRRG.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2Four of the eight supported organizations (Albert Einstein Healthcare Network, Einstein Community Health Associates, Inc., Einstein Practice Plan, Inc., and Fornance Physicians Services, Inc) have IRS determination of status under Section 509(a)(3). However, they are all organizations described in 509(a)(2) as they each receive more than 33 1/3% of their support from gross receipts from activities related to their exempt functions. These activities include the promotion of health, health care delivery, health education, and health system planning.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Schedule A, Part I, Line 12f SUPPORTED ORG. PREMIUMS & CLAIMS
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1Schedule A, Part IV, Section A, Line 1 Supported Orgs Listed By Name
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2Schedule A, Part IV, Section A, Line 2 Supported Org. Without IRS Status 509(a)1 or (2)
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0ALBERT EINSTEIN HEALTHCARE NETWORK (AEHN)
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt2BCCT Over Corp
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt3EINSTEIN COMMUNITY HEALTH ASSOCIATES INC
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt4EINSTEIN PRACTICE PLAN INC
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt5EINSTEIN MEDICAL CENTER MONTGOMERY
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt6FORNANCE PHYSICIANS SERVICES INC
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