2025-11-13T12:38:49-06:00 2024-12-31 350921680 CROWE LLP 401 E LAS OLAS BLVD SUITE 1100 FORT LAUDERDALE FL 333014230 990 2024-01-01 872580182 TCIG INC TCIG 8023933401 159 BANK STREET FOURTH FLOOR BURLINGTON VT 05401 PATRICIA GATHERS PRESIDENT 8023933401 2025-11-13 1 0 BRITTNEY KOCAJ P01320603 9542028600 2025-11-10 2024 2025-03-06 01:10:19Z PATRICIA GATHERS 159 BANK STREET FOURTH FLOOR BURLINGTON VT 05401 1053884 0 X WWW.CARMELITESYSTEM.ORG X 2021 VT THE ORGANIZATION WAS FORMED AS AN ONSHORE CAPTIVE INSURANCE COMPANY TO INSURE THE RISKS OF THE CARMELITE SYSTEM. 4 1 0 1 0 0 0 0 1137128 1053884 0 0 0 0 1137128 1053884 0 0 0 0 0 0 0 0 0 521228 468746 521228 468746 615900 585138 3599371 4224399 1499707 1539597 2099664 2684802 X THE ORGANIZATION WAS FORMED AS AN ONSHORE CAPTIVE INSURANCE COMPANY TO INSURE THE RISKS OF THE CARMELITE SYSTEM. 0 0 417742 1053884 TCIG, INC. EXISTS FOR THE PURPOSE OF ENGAGING IN THE BUSINESS OF INSURING AND REINSURING VARIOUS TYPES OF RISK SOLELY IN SUPPORT OF THE CARMELITE SYSTEM, INC. (THE "SYSTEM"), INCLUDING RISKS OF THE SYSTEM AFFILIATES. TCIG, INC. SUPPORTS THE SYSTEM IN CONDUCTING ITS SYSTEMWIDE FINANCIAL AND RISK MANAGEMENT OVERSIGHT ACTIVITIES - SPECIFICALLY, BY INSURING AND REINSURING VARIOUS TYPES OF RISK OTHERWISE SELF-INSURED BY THE SYSTEM OR THE SYSTEM AFFILIATES.THE SYSTEM IS A NOT-FOR-PROFIT HEALTH SYSTEM THAT IS COMMITTED TO PERPETUATING AND STRENGTHENING THE CATHOLIC LONG-TERM HEALTH MINISTRY, RESPECTING AND BUILDING UPON THE MISSION, PHILOSOPHY AND VALUES OF THE CARMELITE SISTERS. CURRENTLY, THERE ARE 18 AFFILIATES OF THE SYSTEM THAT OPERATE SKILLED NURSING, ASSISTED LIVING, AND INDEPENDENT LIVING FACILITIES IN THE STATES OF FLORIDA, MASSACHUSETTS, OHIO, NEW YORK, ILLINOIS, IOWA, AND KENTUCKY. 417742 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 1 0 1 0 0 1 1 0 1 0 0 0 1 1 1 1 0 0 0 0 0 X REBECCA HALE 8023933401 159 BANK STREET FOURTH FLOOR BURLINGTON VT 05401 PATRICIA GATHERS DIRECTOR/PRESIDENT 1.00 40.00 X X 0 740588 57580 KAREN REICH DIRECTOR, TREASURER AND SECRETARY 1.00 40.00 X X 0 585760 33106 REBECCA HALE VT RESIDENT DIRECTOR, ASS. SECRETARY 1.00 0.00 X X 0 0 0 MOTHER MARY ROSE HEERY DIRECTOR 1.00 0.00 X 0 0 0 0 1326348 90686 0 0 1 0 0 PREMIUM REVENUE 525100 1053884 1053884 1053884 1053884 1053884 0 0 60492 60492 29165 29165 21339 21339 INCURRED LOSSES 349751 349751 UNDERWRITING FEE 7499 7499 BUSINESS LICENSE & FEES 500 500 468746 417742 51004 0 3052749 3696919 546622 511406 16074 3599371 4224399 59835 39209 457011 425938 982861 1074450 1499707 1539597 X 2099664 2684802 2099664 2684802 3599371 4224399 585138 0 X 0 1 X 0 0 X X X 1 THE CARMELITE SYSTEM INC 141810368 10 1 0 417742 1 0 417742 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 UNPAID LOSSES 996322 LOSSES PAYABLE 78128 1074450 X 1053884 0 1053884 0 1053884 468746 0 468746 0 468746 PART X, LINE 2: THE COMPANY ACCOUNTS FOR UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH CERTAIN PROVISIONS OF FASB ASC 740, WHICH PROVIDES A FRAMEWORK FOR HOW COMPANIES SHOULD RECOGNIZE, MEASURE, PRESENT AND DISCLOSE UNCERTAIN TAX POSITIONS IN THEIR FINANCIAL STATEMENTS. UNDER FASB ASC 740, THE COMPANY MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE COMPANY DID NOT RECORD ANY UNRECOGNIZED TAX BENEFITS AS OF DECEMBER 31, 2024 AND 2023. THE COMPANY DOES NOT BELIEVE IT IS REASONABLY POSSIBLE THAT ITS UNRECOGNIZED TAX BENEFITS WOULD MATERIALLY CHANGE IN THE NEXT TWELVE MONTHS. THE COMPANY'S POLICY IS TO INCLUDE PENALTIES AND INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS AS A COMPONENT OF ITS PROVISION FOR INCOME TAXES. AS OF DECEMBER 31, 2024 AND 2023, THE COMPANY DID NOT RECORD ANY PENALTIES OR INTEREST ASSOCIATED WITH UNRECOGNIZED TAX BENEFITS. ALL TAX YEARS FROM INCEPTION AND FORWARD ARE OPEN AND SUBJECT TO EXAMINATION. 0 0 0 0 0 0 0 0 0 PATRICIA GATHERS DIRECTOR/PRESIDENT 0 569787 0 134277 0 36524 0 53500 0 4080 0 798168 0 0 KAREN REICH DIRECTOR, TREASURER AND SECRETARY 0 451758 0 99029 0 34973 0 23000 0 10106 0 618866 0 0 PART I, LINE 1A COMPENSATED EMPLOYEES ARE PAID BY CARMELITE SYSTEM, INC. WHICH USES THE FOLLOWING TO ESTABLISH THE COMPENSATION OF THE ORGANIZATIONS' TOP MANAGEMENT OFFICIALS: - COMPENSATION COMMITTEE - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION CONTRACTS WITH STRATEGIC RISK SOLUTIONS TO RECEIVE SPECIALIZED INSURANCE ACCOUNTING AND MANAGEMENT SERVICES. REBECCA HALE IS AN OFFICER AND DIRECTOR OF THE ORGANIZATION AND AN EMPLOYEE OF STRATEGIC RISK SOLUTIONS. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION'S SOLE MEMBER IS THE CARMELITE SYSTEM, INC. FORM 990, PART VI, SECTION A, LINE 7A THE CARMELITE SYSTEM, INC. MUST APPROVE THE ELECTION OF THE DIRECTORS OF THE ORGANIZATION, AS WELL AS THE REMOVAL OF A DIRECTOR. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION CURRENTLY DOES NOT HAVE ANY COMMITTEES OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 AND SUPPLEMENTAL SCHEDULES ARE PREPARED AND REVIEWED BY AN EXTERNAL ACCOUNTING FIRM. IT IS THEN REVIEWED INTERNALLY BY MANAGEMENT. A COMPLETE COPY OF THE FORM IS PROVIDED TO ALL BOARD MEMBERS AND THEY ARE REQUESTED TO REVIEW AND SUBMIT ANY QUESTIONS OR COMMENTS THEY MAY HAVE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY IN PLACE THAT REQUIRES EACH DIRECTOR, OFFICER, AND KEY EMPLOYEE TO CERTIFY YEARLY THAT THE INDIVIDUAL HAS NO OUTSIDE COMMITMENTS, PERSONAL OR OTHERWISE, THAT WOULD DIVERT THEM FROM THEIR DUTY TO FURTHER THE INTERESTS OF THE CORPORATION. CONFLICT OF INTEREST STATEMENTS ARE REVIEWED AND DISCUSSED AT THE ANNUAL MEETING OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 PART VI, LINE 15A AND 15B ARE MARKED NO BECAUSE EMPLOYEES ARE COMPENSATED BY THE RELATED ORGANIZATION THE CARMELITE SYSTEM, INC. A COMPENSATION POLICY WAS DEVELOPED BY THE BOARD OF THE CARMELITE SYSTEM, INC. TO GOVERN COMPENSATION ARRANGEMENTS BETWEEN THE ORGANIZATION AND COVERED INDIVIDUALS, DEFINED AS THOSE IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE OVER THE AFFAIRS OF THE ORGANIZATION. THE COMPENSATION COMMITTEE OF THE CARMELITE SYSTEM INC. CONSISTS OF AT LEAST THREE INDEPENDENT INDIVIDUALS APPOINTED BY THE BOARD, WHO THEMSELVES ARE MEMBERS OF THE BOARD OF DIRECTORS. THE COMMITTEE RECOMMENDS TO THE BOARD THE COMPENSATION FOR A COVERED INDIVIDUAL BASED ON RELEVANT DATA INCLUDING COMPARABILITY OF COMPENSATION FOR SIMILARLY SITUATE ENTITIES AND COMPENSATION SURVEYS COMPLIED BY INDEPENDENT FIRMS AS REQUIRED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE CARMELITE SYSTEM INC 646 WOODS ROAD GERMANTOWN NY 12526 141810368 HEALTHCARE NY 501(C)(3) LINE 10 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1