Civic Intelligence

University of Chicago Self Insurance Trust

EIN 36-3020034 • 501(c)3 • Chicago, IL

Profile

A self insurance program for the purpose of settling health care patient claims asserting professional negligence against the university of chicago, the university of chicago medical center, thier employees and agents.

6054 S Drexel AvenueChicago, IL 60637

n/A

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.81x

Higher debt load relative to assets than 83% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

91st percentile

3.85x

Higher debt load relative to revenue than 91% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

6th percentile

-29%

Higher net margin than 6% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

3rd percentile

$0

Higher top officer pay than 3% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

13th percentile

-3.5%

Faster asset growth than 13% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

94th percentile

87%

Faster revenue growth than 94% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Down

$288,588,991

Down $10,458,704 (-3.5%) from 2023

Liabilities

Down

$234,984,000

Down $7,691,541 (-3.2%) from 2023

Net Assets

Down

$53,604,991

Down $2,767,163 (-4.9%) from 2023

Revenue

Up

$61,046,275

Up $28,466,798 (+87%) from 2023

Expenses

Up

$78,951,810

Up $42,705,534 (+118%) from 2023

Net Income

Down

-$17,905,535

Down $14,238,736 (-388%) from 2023

Trend Graphs

Balance Sheet Trend

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

$400M$300M$200M$100M$0Assets 2020: $266,913,208Liabilities 2020: $185,822,000Net Assets 2020: $81,091,2082020Assets 2021: $366,096,537Liabilities 2021: $220,104,142Net Assets 2021: $145,992,3952021Assets 2022: $330,604,260Liabilities 2022: $271,044,399Net Assets 2022: $59,559,8612022Assets 2023: $299,047,695Liabilities 2023: $242,675,541Net Assets 2023: $56,372,1542023Assets 2024: $288,588,991Liabilities 2024: $234,984,000Net Assets 2024: $53,604,9912024

Highlighted filing

2024

Assets$288,588,991
Liabilities$234,984,000
Net Assets$53,604,991

Operations Trend

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

$100M$50M$0-$50MRevenue 2020: $30,113,688Expenses 2020: $20,288,323Net Income 2020: $9,825,3652020Revenue 2021: $38,837,635Expenses 2021: $54,682,827Net Income 2021: -$15,845,1922021Revenue 2022: $16,607,158Expenses 2022: $53,799,187Net Income 2022: -$37,192,0292022Revenue 2023: $32,579,477Expenses 2023: $36,246,276Net Income 2023: -$3,666,7992023Revenue 2024: $61,046,275Expenses 2024: $78,951,810Net Income 2024: -$17,905,5352024

Highlighted filing

2024

Revenue$61,046,275
Expenses$78,951,810
Net Income-$17,905,535

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2025
Return Version
2023v6.0
Gross Receipts
$66,431,718
Mission and Program Overview

Mission

A self insurance program for the purpose of settling health care patient claims asserting professional negligence against the university of chicago, the university of chicago medical center, thier employees and agents.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$216,296,741$205,832,120▼ $10,464,621
Investments in Publicly Traded Securities$82,750,954$77,067,729▼ $5,683,225
Savings and Temporary Cash Investments$0$5,689,142▲ $5,689,142
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$299,047,695$288,588,991▼ $10,458,704
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$242,675,541$234,984,000▼ $7,691,541
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$242,675,541$234,984,000▼ $7,691,541
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$56,372,154$53,604,991▼ $2,767,163
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$56,372,154$53,604,991▼ $2,767,163
Total Liabilities and Net Assets / Fund Balance$299,047,695$288,588,991▼ $10,458,704

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$86,878,776--
Compensation and Service Providers

Board Members and Trustees

NameTitle
University of ChicagoInstitutional Trustee

Highest Paid Contractors

ContractorServicesLocationCompensation
Brennan Burtker LLCLegal Fees20 N CLARK ST 1800, Chicago, IL 60602$1,719,554
Cunningham MeyerLegal Fees1 EAST WACKER DRIVE SUITE 2200, Chicago, IL 60601$874,644
Hall Prangle Schoonveld LLCLegal Fees200 S WACKER DR 3300, Chicago, IL 60606$709,531
Tamos Trucco LLPLegal Fees1 E WACKER DR 300, Chicago, IL 60601$678,489
Johnson Bell LtdLegal Fees33 WEST MONROE STREET SUITE 2700, Chicago, IL 60603$583,390
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$49,623,060
Investment Income
$11,423,215
Other Revenue
$0
Change in Net Assets
$-17,905,535
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$78,951,810
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
Insurance$9,607,236--$9,607,236
Fees for Services Legal$4,466,762--$4,466,762
Other Expenses$1,424,802--$1,424,802
Interest$220,848--$220,848
Total Functional Expenses$78,951,810$0$0$78,951,810
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
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
Actuarially Determined Liability$234,984,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 8B

Documentation of meetings held by committees of governing body the university of chicago self insurance trust is a trust to settle health care claims asserted by patients claiming professional negligence. The self insurance trust does not have its own governing board. The university of chicago is the sole institutional trustee. The university of chicago has a governing body and documented meetings.

Form 990, Part VI, Line 11B

Review of form 990 by governing body prior to filing the form 990, the draft tax return was provided to the vice president for administration and cfo and to the vice president and general counsel of the university of chicago. The university of chicago is the institutional trustee of the self insurance trust.

Form 990, Part VI, Line 12

The university of chicago self insurance trust does not have officers or individual trustees. The university of chicago is the institutional trustee of the self insurance trust. The university of chicago has a written conflict of interest policy and the officers and trustees of the university are required to complete conflict of interest questionnaires, which include all related organizations including the self insurance trust.

Form 990, Part VI, Line 13

The university of chicago self insurance trust does not have any employees. The university of chicago, the institutional trustee, has a written whistleblower policy.

Form 990, Part VI, Line 14

The university of chicago self insurance trust does not have a written document retention policy. The university of chicago, the institutional trustee, does have a written document retention policy.

Form 990, Part VI, Line 15

The university of chicago self insurance trust does not have any employees. The university of chicago is the institutional trustee. The university of chicago does have a process to review and approve the compensation of officers and key employees of the university.

Form 990, Part VI, Line 19

Required documents available to the public the university of chicago self insurance trust's governing documents would be available upon request at the university of chicago. The self insurance trust does not prepare audited financial statements.

Filing and Contact Details

Filer

Filer Name
University of Chicago Self Insurance Trust
EIN
36-3020034
In Care Of
% IVAN SAMSTEIN
Phone
7737021941
Address
6054 S DREXEL AVENUE, Chicago, IL 60637

Signing Officer

Name
Ivan Samstein
Title
CFO
Phone
7737021941
Signed
2025-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ivan Samstein
Formed
1979
Legal Domicile
Il
Voting Board Members
1
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
PwC US Tax LLP
Address
655 NEW YORK AVE NW SUITE 1100, WASHINGTON, DC 20001
Preparer
Travis L Patton
Phone
2024141000
Supplemental Narrative

Additional Explanations

Form 990, Part 1, Line 1

A self insurance program for the purpose of settling health care patient claims asserting professional negligence against the university of chicago, the university of chicago medical center, thier employees and agents.

Form 990, Part V, Line 1A

Forms 1099 this organization is an affiliate of the university of chicago. The forms 1099 distributed as part of this entity's activities are done so through the university of chicago.

Financial Statement Notes

Part X, Line 2

Fin 48 this organization is an affiliate of the university of chicago. The fin 48 footnote below derives from the consolidated june 30, 2024 financial statements of the university of chicago: the university of chicago is a tax-exempt organization under section 501(c)(3) of the internal revenue code and, except for unrelated business income, is exempt from federal income taxes. There was no provision for income taxes due on unrelated business income in fiscal years 2024 and 2023 and there are no uncertain tax positions considered to be material.

Raw XML AppendixShowing 400 of 1,261 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/CYInvestmentIncomeAmt011423215
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FIN 48 THIS ORGANIZATION IS AN AFFILIATE OF THE UNIVERSITY OF CHICAGO. THE FIN 48 FOOTNOTE BELOW DERIVES FROM THE CONSOLIDATED JUNE 30, 2024 FINANCIAL STATEMENTS OF THE UNIVERSITY OF CHICAGO: THE UNIVERSITY OF CHICAGO IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, EXCEPT FOR UNRELATED BUSINESS INCOME, IS EXEMPT FROM FEDERAL INCOME TAXES. THERE WAS NO PROVISION FOR INCOME TAXES DUE ON UNRELATED BUSINESS INCOME IN FISCAL YEARS 2024 AND 2023 AND THERE ARE NO UNCERTAIN TAX POSITIONS CONSIDERED TO BE MATERIAL.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A SELF INSURANCE PROGRAM FOR THE PURPOSE OF SETTLING HEALTH CARE PATIENT CLAIMS ASSERTING PROFESSIONAL NEGLIGENCE AGAINST THE UNIVERSITY OF CHICAGO, THE UNIVERSITY OF CHICAGO MEDICAL CENTER, THIER EMPLOYEES AND AGENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORMS 1099 THIS ORGANIZATION IS AN AFFILIATE OF THE UNIVERSITY OF CHICAGO. THE FORMS 1099 DISTRIBUTED AS PART OF THIS ENTITY'S ACTIVITIES ARE DONE SO THROUGH THE UNIVERSITY OF CHICAGO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTATION OF MEETINGS HELD BY COMMITTEES OF GOVERNING BODY THE UNIVERSITY OF CHICAGO SELF INSURANCE TRUST IS A TRUST TO SETTLE HEALTH CARE CLAIMS ASSERTED BY PATIENTS CLAIMING PROFESSIONAL NEGLIGENCE. THE SELF INSURANCE TRUST DOES NOT HAVE ITS OWN GOVERNING BOARD. THE UNIVERSITY OF CHICAGO IS THE SOLE INSTITUTIONAL TRUSTEE. THE UNIVERSITY OF CHICAGO HAS A GOVERNING BODY AND DOCUMENTED MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3REVIEW OF FORM 990 BY GOVERNING BODY PRIOR TO FILING THE FORM 990, THE DRAFT TAX RETURN WAS PROVIDED TO THE VICE PRESIDENT FOR ADMINISTRATION AND CFO AND TO THE VICE PRESIDENT AND GENERAL COUNSEL OF THE UNIVERSITY OF CHICAGO. THE UNIVERSITY OF CHICAGO IS THE INSTITUTIONAL TRUSTEE OF THE SELF INSURANCE TRUST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE UNIVERSITY OF CHICAGO SELF INSURANCE TRUST DOES NOT HAVE OFFICERS OR INDIVIDUAL TRUSTEES. THE UNIVERSITY OF CHICAGO IS THE INSTITUTIONAL TRUSTEE OF THE SELF INSURANCE TRUST. THE UNIVERSITY OF CHICAGO HAS A WRITTEN CONFLICT OF INTEREST POLICY AND THE OFFICERS AND TRUSTEES OF THE UNIVERSITY ARE REQUIRED TO COMPLETE CONFLICT OF INTEREST QUESTIONNAIRES, WHICH INCLUDE ALL RELATED ORGANIZATIONS INCLUDING THE SELF INSURANCE TRUST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE UNIVERSITY OF CHICAGO SELF INSURANCE TRUST DOES NOT HAVE ANY EMPLOYEES. THE UNIVERSITY OF CHICAGO, THE INSTITUTIONAL TRUSTEE, HAS A WRITTEN WHISTLEBLOWER POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE UNIVERSITY OF CHICAGO SELF INSURANCE TRUST DOES NOT HAVE A WRITTEN DOCUMENT RETENTION POLICY. THE UNIVERSITY OF CHICAGO, THE INSTITUTIONAL TRUSTEE, DOES HAVE A WRITTEN DOCUMENT RETENTION POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE UNIVERSITY OF CHICAGO SELF INSURANCE TRUST DOES NOT HAVE ANY EMPLOYEES. THE UNIVERSITY OF CHICAGO IS THE INSTITUTIONAL TRUSTEE. THE UNIVERSITY OF CHICAGO DOES HAVE A PROCESS TO REVIEW AND APPROVE THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES OF THE UNIVERSITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8REQUIRED DOCUMENTS AVAILABLE TO THE PUBLIC THE UNIVERSITY OF CHICAGO SELF INSURANCE TRUST'S GOVERNING DOCUMENTS WOULD BE AVAILABLE UPON REQUEST AT THE UNIVERSITY OF CHICAGO. THE SELF INSURANCE TRUST DOES NOT PREPARE AUDITED FINANCIAL STATEMENTS.
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