Civic Intelligence

Physician Insurance Plan of Alabama Tr

EIN 38-7124703 • 501(c)9 • Montgomery, AL

NTEE Y43

Profile

The sole purpose of the trust is to hold contributions to be applied to provide the health and welfare benefit options under the plan. The plan was adopted by the medical association of the state of alabama acting as a bona fide association of employers, for the benefit of its employer-members who may offer the fully-insured benefit options under the plan to their employees.

19 South Jackson StreetMontgomery, AL 36104
Siviq Scores

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

Liabilities / Assets

90th percentile

0.54x

Higher debt load relative to assets than 90% of similar nonprofits.

501(c)9 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

83rd percentile

0.21x

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

501(c)9 • $10M-$25M nonprofits • Source year 2024

Net Margin

41st percentile

1.3%

Higher net margin than 41% of similar nonprofits.

501(c)9 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

48th percentile

$0

Higher top officer pay than 48% of similar nonprofits.

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

501(c)9 • $10M-$25M nonprofits • Source year 2024

Asset Growth

31st percentile

-0.3%

Faster asset growth than 31% of similar nonprofits.

501(c)9 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

23rd percentile

-3.7%

Faster revenue growth than 23% of similar nonprofits.

501(c)9 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets90th percentile

Assets

Down

$6,590,968

Down $21,391 (-0.3%) from 2023

Liabilities

Down

$3,560,830

Down $281,083 (-7.3%) from 2023

Net Assets

Up

$3,030,138

Up $259,692 (+9.4%) from 2023

Operations
Liabilities / Revenue83rd percentileNet Margin41st percentile

Revenue

Down

$16,982,503

Down $656,476 (-3.7%) from 2023

Expenses

Down

$16,768,559

Down $701,005 (-4.0%) from 2023

Net Income

Up

$213,944

Up $44,529 (+26%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth31st percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2023: $6,612,359Liabilities 2023: $3,841,913Net Assets 2023: $2,770,4462023Assets 2024: $6,590,968Liabilities 2024: $3,560,830Net Assets 2024: $3,030,1382024

Highlighted filing

2024

Assets$6,590,968
Liabilities$3,560,830
Net Assets$3,030,138
Open 2024 Filing

Operations Trend

Revenue Growth23rd percentile

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

$20M$15M$10M$5.0M$0Revenue 2023: $17,638,979Expenses 2023: $17,469,564Net Income 2023: $169,4152023Revenue 2024: $16,982,503Expenses 2024: $16,768,559Net Income 2024: $213,9442024

Highlighted filing

2024

Revenue$16,982,503
Expenses$16,768,559
Net Income$213,944
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$6,590,968
Liabilities
$3,560,830
Net assets
$3,030,138
Revenue
$16,982,503
Expenses
$16,768,559
Net income
$213,944
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.59$3.56$3.03$17.0$16.8$0.21
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.61$3.84$2.77$17.6$17.5$0.17
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 4, 2025
Return Version
2024v5.0
Gross Receipts
$17,236,529
Mission and Program Overview

Mission

The sole purpose of the trust is to hold contributions to be applied to provide the health and welfare benefit options under the plan. The plan was adopted by the medical association of the state of alabama acting as a bona fide association of employers, for the benefit of its employer-members who may offer the fully-insured benefit options under the plan to their employees.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$5,228,791$5,126,106▼ $102,685
Rtn Earn Endowment Incm Other Fnds$2,770,446$3,030,138▲ $259,692
Investments in Publicly Traded Securities$1,347,619$1,464,862▲ $117,243
Accounts Receivable$27,733--
Cash and Non-Interest-Bearing Accounts$8,216--
Total Assets$6,612,359$6,590,968▼ $21,391
Liabilities
Deferred Revenue$3,841,281$3,536,041▼ $305,240
Accounts Payable and Accrued Expenses$38$24,789▲ $24,751
Other Liabilities$594--
Total Liabilities$3,841,913$3,560,830▼ $281,083
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,770,446$3,030,138▲ $259,692
Total Liabilities and Net Assets / Fund Balance$6,612,359$6,590,968▼ $21,391
Compensation and Service Providers
Top Officer Pay48th percentile

Board Members and Trustees

NameTitle
Boyd PughTrustee
Dr Arthur BoykinTrustee
Dr Bradley P KatzTrustee
Angela BarentinePlan Adminis

Highest Paid Contractors

ContractorServicesLocationCompensation
BcbsInsurance450 RIVERCHASE PARKWAY EAST, Birmingham, AL 36022$885,750
Medical Association Of AlabamaAdministration19 SOUTH JACKSON STREET, Montgomery, AL 36104$295,000
Hcc Life Insurance CompanyInsurance225 TOWNPARK DRIVE SUITE 350, Kennesaw, GA 30144$243,015
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$16,317,340
Investment Income
$205,545
Other Revenue
$459,618
Change in Net Assets
$213,944

Audited Revenue Reconciliation

Revenue per Audited Statements
$16,982,503
Revenue Not Reported on Form 990
$45,748
Total Revenue per Audited Statements
$17,028,251
Total Revenue per Form 990
$16,982,503
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$451,219
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
Benefits to Members---$16,317,340
Fees for Services Management---$295,000
Fees for Services Legal---$53,500
Fees for Services Other---$48,000
Fees for Services Accounting---$24,800
Office Expenses---$14,316
Fees for Service Investment Mgmnt Fees---$12,921
Travel---$2,682
Total Functional Expenses$0$0$0$16,768,559

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$16,768,559
Total Expenses per Audited Statements$16,768,559
Total Expenses per Form 990$16,768,559
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
Subject to proxy tax
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The form 990 is reviewed by the trustee designated as the plan administrator by the benefit plan committee.”

Form 990, Page 6, Part VI, Line 19

“Federal tax law does not require that such documents be made publicly available unless they were included on a form that is publicly available. Therefore, the organization does not make these documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Physician Insurance Plan of Alabama
EIN
38-7124703
Phone
3349542500
Address
19 SOUTH JACKSON STREET, MONTGOMERY, AL 36104

Signing Officer

Name
Angela Barentine
Title
Plan Administrator
Phone
3343569824
Signed
2025-08-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Angela Barentine
Formed
2014
Legal Domicile
Al
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
Aldridge Borden & Company Pc
Address
74 COMMERCE STREET, MONTGOMERY, AL 36104
Preparer
Amanda B Hines CPA
Phone
3348346640
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The sole purpose of the trust is to hold contributions to be applied to provide the health and welfare benefit options under the plan. The plan was adopted by the medical association of the state of alabama acting as a bona fide association of employers, for the benefit of its employer-members who may offer the fully-insured benefit options under the plan to their employees.”

Financial Statement Notes

Schedule D, Page 3, Part X

“In preparing financial statements, plan management is required to evaluate tax positions taken by the plan and disclose a tax liability (or asset) if the plan has taken an uncertain position that more likely than not would not be sustained upon examination by the taxing authorities. The plan administrator has analyzed the tax positions taken by the plan, and has concluded that as of december 31, 2024, there are no uncertain positions taken or expected to be taken that would require discloure in the financial statements. The plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.”

Raw XML Appendix333 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IN PREPARING FINANCIAL STATEMENTS, PLAN MANAGEMENT IS REQUIRED TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND DISCLOSE A TAX LIABILITY (OR ASSET) IF THE PLAN HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES. THE PLAN ADMINISTRATOR HAS ANALYZED THE TAX POSITIONS TAKEN BY THE PLAN, AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2024, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE DISCLOURE IN THE FINANCIAL STATEMENTS. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SOLE PURPOSE OF THE TRUST IS TO HOLD CONTRIBUTIONS TO BE APPLIED TO PROVIDE THE HEALTH AND WELFARE BENEFIT OPTIONS UNDER THE PLAN. THE PLAN WAS ADOPTED BY THE MEDICAL ASSOCIATION OF THE STATE OF ALABAMA ACTING AS A BONA FIDE ASSOCIATION OF EMPLOYERS, FOR THE BENEFIT OF ITS EMPLOYER-MEMBERS WHO MAY OFFER THE FULLY-INSURED BENEFIT OPTIONS UNDER THE PLAN TO THEIR EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY THE TRUSTEE DESIGNATED AS THE PLAN ADMINISTRATOR BY THE BENEFIT PLAN COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FEDERAL TAX LAW DOES NOT REQUIRE THAT SUCH DOCUMENTS BE MADE PUBLICLY AVAILABLE UNLESS THEY WERE INCLUDED ON A FORM THAT IS PUBLICLY AVAILABLE. THEREFORE, THE ORGANIZATION DOES NOT MAKE THESE DOCUMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/PreparerPersonGrp/PreparationDt02025-09-26
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ReturnHeader/ReturnTs02025-09-29T14:47:44-04:00
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ReturnHeader/TaxPeriodEndDt02024-12-31
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