Providers Insurance Corporation

Analysis

Providers Insurance Corporation is a registered charity in United States, based in Honolulu, HI. It received its IRS tax-exemption ruling in August 2003, 23 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Providers Insurance Corporation reported income of $25.0m and spending of $22.5m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $16.4m to $25.0m (+52%), an average of +11% a year. The sharpest change came in the year to June 2023, when income rose by 22%. Over the whole period it spent 100% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Providers Insurance Corporation sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within HI. Charities of a similar size with the same main cause include Wartburg Home of the Evangelical Lutheran Church ($25.0m), Community Research Initiative of New England Inc ($25.1m) and Mutual Aid Ambulance Service Inc ($25.0m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 93% of the total. At year end it held assets of $82.2m against liabilities of $64.9m, net assets of $17.3m.