Advanced Providers Insurance Risk Retention Group Inc

Overview

Advanced Providers Insurance Risk Retention Group Inc is a nonprofit organization, specifically classified as a mutual insurance company or association. It is designated to provide insurance to its members substantially at cost, which aligns with its status as a Mutual/Membership Benefit Organization, Other / Mutual Insurance Company or Association (NTEE)[1].

Purpose and Activities

The organization was formed primarily by home-based primary care providers to cater to the insurance needs of professionals in this specialty, including physicians, nurse practitioners, physician assistants, podiatrists, psychiatrists, and other healthcare providers[2]. Advanced Providers' main objective is to provide professional liability insurance tailored for home-based care providers, offering competitive pricing by understanding their unique operational risks and reduced exposure compared to traditional office practices[2].

Financial and Governance Information

As of its latest tax filings, Advanced Providers Insurance Risk Retention Group Inc reported significant revenue from program services, totaling $59,302, which accounted for approximately 72.2% of its total revenue. Investment income also contributed substantially to its revenue, amounting to $22,171 or about 27.0%[1]. The organization's total assets stood at $1,532,421, with liabilities totaling $249,212[1]. Key personnel include Charles Marlin, serving as President and Treasurer, with compensation noted in recent filings[1].

Membership and Operations

Advanced Providers has served members of the American Academy of Home Care Medicine (AAHCM) for nearly two decades, offering specialized insurance solutions across the country[2]. The organization emphasizes providing the right coverage at the right price, acknowledging the unique challenges faced by home-based care providers, especially during times of economic stress such as the COVID-19 pandemic[2].

Tax Deductibility and Filings

Donations to Advanced Providers Insurance Risk Retention Group Inc are not tax-deductible[1]. The organization files annual Form 990 documents with the IRS, which are publicly available for review[1].