EIN 20-4191006

Five Pointe Professional Liability Insurance Company

IRS 501(c) type
501(c)(3)
Num. employees
0
Year formed
2006
Most recent tax filings
2023-06-01
Description
Five Pointe Professional Liability Insurance Company is a non-profit sponsored captive insurance company organized and operated exclusively for the charitable purposes for the benefit of its member organizations. The corporation serves as an integral part of and furthers the exempt purposes of it. Five Pointe Professional Liability Insurance Company provides reinsurance to mountain laurel risk retention group, inc. ("mlrrg"), a related party through common ownership that provides general Liability and Professional Liability Insurance to its shareholders. It is located in Wilmington, DE.
Related structure
Five Pointe Professional Liability Insurance Company is a subordinate organization under Thomas Jefferson University Hospital.
Also known as...
Five Pointe Professional Liability Insurance Company Wilmington Trust; Wilmington Trust
Total revenues
$135,366,544
2023
Total expenses
$138,953,031
2023
Total assets
$393,050,212
2023
Num. employees
0
2023

Program areas at Five Pointe Professional Liability Insurance Company

Five Pointe Professional Liability Insurance Company provides reinsurance to mountain laurel risk retention group, inc. ("mlrrg"), a related party through common ownership that provides general Liability and Professional Liability Insurance to its shareholders that are the tax exempt members of Five Pointe. The reinsurance coverages assist with the management and funding of the Professional Liability risk thereby essentially functioning as a self-insurance vehicle for the tax exempt member hospitals and healthcare organizations. A sponsored captive Insurance Company in the state of Delaware has the ability to establish and maintain separate protected cells within the Company whereby the assets and liabilities of any one cell are financially and legally protected from the assets and liabilities of other cells. The Company insures the risks of the members pursuant to membership agreements, and segregates such risks into protected cells. Each protected cell is accounted for separately on the books and records of the Company. The assets and liabilities of the Company are segregated into cell assets and liabilities and general assets and liabilities. The general assets and liabilities of the Company comprise the assets and liabilities that are not assets and liabilities of any one of the protected cells. The activities representing the general assets and liabilities of the Company are referred to as "the core."

Personnel at Five Pointe Professional Liability Insurance Company

NameTitleCompensation
Alfred C SalvatoChief Investment Officer$0
Diane SalterPresident$0
Brian T CorbettDirector , Secretary$0
Michael J BuongiornoDirector , Chairman$0
Neil G LubarskyFormer Director , Treasurer / Director , Treasurer / Director , Assistant Treasurer$0
...and 5 more key personnel

Financials for Five Pointe Professional Liability Insurance Company

RevenuesFYE 06/2023
Total grants, contributions, etc.$0
Program services$129,685,250
Investment income and dividends$1,311,426
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$4,369,868
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$135,366,544

Form 990s for Five Pointe Professional Liability Insurance Company

Fiscal year endingDate received by IRSFormPDF link
2023-062024-05-13990View PDF
2022-062023-05-12990View PDF
2021-062022-07-11990View PDF
2020-062021-05-20990View PDF
2019-062020-12-07990View PDF
...and 9 more Form 990s
Data update history
July 21, 2023
Posted financials
Added Form 990 for fiscal year 2022
July 3, 2023
Updated personnel
Identified 2 new personnel
February 3, 2023
Posted financials
Added Form 990 for fiscal year 2021
August 21, 2021
Posted financials
Added Form 990 for fiscal year 2019
July 12, 2021
Posted financials
Added Form 990 for fiscal year 2020
Nonprofit Types
Mutual assistance organizationsInsurance companiesEnvironmental organizationsChapter / child organizationsCharities
Issues
No issues found
Characteristics
Operates internationallyState / local levelTax deductible donationsNo full-time employees
General information
Address
1105 N Market St 1300
Wilmington, DE 19899
Metro area
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
County
New Castle County, DE
Phone
(802) 864-2037
IRS details
EIN
20-4191006
Fiscal year end
June
Taxreturn type
Form 990
Year formed
2006
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
Y20: Insurance Providers, Services
NAICS code, primary
524126: Direct Property and Casualty Insurance Carriers
Parent/child status
Subordinate organization
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