2021-11-15T09:01:53-06:00 2020-12-31 366055558 GRANT THORNTON LLP 75 STATE ST 13TH FLOOR BOSTON MA 02109 990 2020-01-01 050296998 DELTA DENTAL OF RHODE ISLAND DELT 4017526000 10 CHARLES STREET PROVIDENCE RI 02904 RICHARD A FRITZ CFO & SR VP FINANCE 4017526000 2021-11-15 1 RICHARD FRITZ 999009999 ERIN COUTURE P01390592 6177237900 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z JOSEPH R PERRONI 10 CHARLES STREET PROVIDENCE RI 02904 105709504 0 X WWW.DELTADENTALRI.COM X 1959 RI TO PROVIDE COST EFFECTIVE GROUP DENTAL INSURANCE TO THE RHODE ISLAND BUSINESS COMMUNITIES. 15 14 50 0 11284 4880 0 0 117348071 82506129 2164559 1974423 140720 831992 119653350 85312544 3626179 6999802 92152879 55132187 12707005 12730313 0 0 0 7133448 7216767 115619511 82079069 4033839 3233475 129957737 125837078 25939145 16122980 104018592 109714098 OUR MISSION IS TO DELIVER IMPECCABLE SERVICE, QUALITY AND INNOVATION THAT EXCEEDS EXPECTATIONS. AS EXPERTS IN ORAL HEALTH CARE, WE ARE COMMITTED TO ACCESSIBLE, AFFORDABLE CARE THAT DRIVES IMPROVED HEALTH OUTCOMES. 0 0 62431989 82506129 DENTAL BENEFITS FOR 424,726 MEMBERS UNDER 210,946 CONTRACTS. THE COMPANY OFFERS A BROAD RANGE OF PREPAID DENTAL CARE COVERAGE OPTIONS AND ADMINISTRATIVE SERVICES TO ORGANIZATIONS PROVIDING SUCH BENEFITS TO THEIR EMPLOYEES ON A CONTRIBUTORY OR A NONCONTRIBUTORY BASIS. 8725831 6999802 AT DELTA DENTAL, WE HAVE A LONG-STANDING TRADITION OF HELPING OUR STATE'S MOST VULNERABLE CITIZENS. IN 2005, WE ESTABLISHED THE DELTA DENTAL OF RHODE ISLAND FUND, FORMALIZING OUR COMMITMENT TO DENTAL HEALTH INITIATIVES IN OUR COMMUNITY. AS A VESTED COMMUNITY PARTNER, WE LEVERAGE THE DELTA DENTAL OF RHODE ISLAND FUND, AS WELL AS OUR ROBUST EMPLOYEE VOLUNTEER PROGRAM, AND MATCHING GIFT PROGRAM TO SUPPORT CRITICAL ORAL HEALTH NEEDS ACROSS THE STATE. GRANTS ARE AWARDED TO QUALIFYING CHARITABLE ORGANIZATIONS FOR PROGRAMS OR CAPITAL EXPENDITURES THAT INCREASE ACCESS TO DENTAL CARE FOR AT-RISK, VULNERABLE RHODE ISLANDERS. 71157820 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 1 0 1 15 0 1 50 1 1 1 0 0 0 0 0 1 0 X 15 14 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X GEORGE BEDARD 4017526240 10 CHARLES STREET PROVIDENCE RI 02904 JOSEPH NAGLE THRU 062019 FORMER PRESIDENT & CEO 40.00 1.00 X 1467903 0 5579 JOSEPH R PERRONI PRESIDENT & CEO 40.00 1.00 X 633994 0 80686 THOMAS D CHASE COO 40.00 0.00 X 0 472076 69329 RICHARD A FRITZ VP FINANCE & CFO 40.00 1.00 X 453969 0 67488 WENDY DUNCAN VP MARKETING & EXTERNAL AFFAIRS 40.00 0.00 X 340966 0 45186 JAMES T KINNEY DIRECTOR OF SALES 40.00 0.00 X 283837 0 53643 ANGELO PEZZULLO DIRECTOR MAJOR ACCOUNTS 40.00 0.00 X 226051 0 45955 ELLEN M HENDRIX AVP UNDERWRITING 40.00 0.00 X 188019 0 43895 GEORGE J BEDARD CONTROLLER 40.00 1.00 X 164374 0 36448 DUANE S EASTER DIR CORP REPORTING & FIN ANALYSIS 40.00 1.00 X 158004 0 41300 SHAUNA FONTAINE DIRECTOR- DELTA DENTAL SALES 40.00 0.00 X 159230 0 34990 KELLY GERAGOTELIS SR. DIRECTOR ACCUARIAL 40.00 0.00 X 147269 0 37740 MELISSA GENNARI AVP & DIRECTOR COMPLIANCE 40.00 1.00 X 161944 0 20042 JOHN T RUGGIERI CHAIR 1.00 1.00 X X 18450 0 0 JAMES V ROSATI VICE CHAIR 1.00 1.00 X X 14400 0 0 EDWARD O HANDY III DIRECTOR 1.00 1.00 X 13200 0 0 EDWIN J SANTOS DIRECTOR 1.00 1.00 X 12000 0 0 JULIE G DUFFY DIRECTOR 1.00 1.00 X 11400 0 0 JONATHAN W HALL DIRECTOR 1.00 1.00 X 11400 0 0 JUNIOR JABBIE DIRECTOR 1.00 1.00 X 11400 0 0 COLIN P KANE DIRECTOR 1.00 1.00 X 11400 0 0 MARK A PAULHUS DIRECTOR 1.00 1.00 X 10800 0 0 HEATHER A PROVINO DIRECTOR 1.00 1.00 X 10800 0 0 PETE HAYES DIRECTOR 1.00 1.00 X 9900 0 0 LINDA R MCGOLDRICK DIRECTOR 1.00 1.00 X 9000 0 0 MARK SHAW DIRECTOR 1.00 1.00 X 9000 0 0 FRANCIS J FLYNN DIRECTOR 1.00 1.00 X 8550 0 0 DR THOMAS ENRIGHT DIRECTOR 1.00 1.00 X 8400 0 0 WILLIAM LANDRY SECRETARY 1.00 1.00 X 0 0 0 4555660 472076 582281 32 1 1 0 EDGEWATER FULLSCOPE INC PO BOX 845183 BOSTON MA 02284 IT-PRODUCT DEVELOPMENT 774779 GRANT THORNTON LLP 124 HEBORN AVE STE 200 GLASTONBURY CT 06033 AUDIT/TAX SERVICES 372438 NETCENERGY LLC 231 ELM STREET WARWICK RI 02888 IT - CONSULTING SERVICE 310907 CATHEDRAL CORPORATION GRIFFIN TECHNOLOGY PARK ROME NY 13441 PRINTING & MAIL SERVICES 225699 EUSTACE CONSULTING 600 PLEASANT ST WATERTOWN MA 02472 IT PRODUCT DEV. 217000 12 PREMIUMS (SEE SCHEDULE O) 524114 82506129 82506129 82506129 1989362 1989362 20382021 20396960 -14939 -14939 -14939 INCOME FROM SUBSIDIARIES 900099 732792 11284 721508 OTHER INCOME 900099 99200 99200 831992 85312544 82506129 11284 2795131 6999802 6999802 55132187 55132187 2512676 714680 1797996 1473482 1473482 6099126 5022593 1076533 1574111 288032 1286079 363094 48312 314782 707824 338913 368911 143441 143441 352649 352649 63000 63000 454205 454205 756353 53887 702466 339891 339891 466876 379360 87516 1014272 567414 446858 131131 4581 126550 340 340 534641 534641 210656 210656 EQUIPMENT RENTAL & MAIN 1542877 1542877 BOARD & ASSOCIATION FEE 432661 432661 FACILITIES EXPENSE 79808 79808 LICENSE & FEES 34205 1055 33150 659761 1127 658634 82079069 71157820 10921249 0 250 250 8312406 1414173 0 9291445 5807505 0 0 0 0 3748303 7356755 13771458 12560388 1231101 1211070 81543267 83364400 25240512 26157662 0 590453 525263 129957737 125837078 19610196 11575507 0 0 0 0 0 0 0 0 6328949 4547473 25939145 16122980 X 0 0 0 0 104018592 109714098 104018592 109714098 129957737 125837078 X 3233475 1775447 686584 X 0 1 X 1 0 3166458 2785833 380625 7271198 6584724 686474 3333802 3189831 143971 1211070 SUBSIDIARIES 19465026 C INVESTMENT - OTHER 6692636 F 26157662 CLAIMS INCURRED BUT UNPAID 2130000 ADVANCED SUBSCRIBER PREMIUMS 1459235 SUBSCRIBER DEPOSITS 613866 ACCRUED CLAIMS ADJUSTMENT EXPENSE 344372 4547473 X PART X, LINE 2: ASC 470 DELTA DENTAL OF RHODE ISLAND IS A NOT-FOR-PROFIT CORPORATION PURSUANT TO SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE (IRC) AND IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME UNDER SECTION 501(A) OF THE IRC. ACCORDINGLY, NO PROVISION FOR INCOME TAXES RELATIVE TO DELTA DENTAL OF RHODE ISLAND HAS BEEN MADE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE COMPANY EVALUATES ITS UNCERTAIN TAX POSITIONS WITH A TWO-STEP PROCESS IN ACCORDANCE WITH GAAP. FIRST, THE COMPANY DETERMINES WHETHER IT IS MORE LIKELY THAN NOT THAT AN UNCERTAIN TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BASED ON THE TECHNICAL MERITS OF THE POSITION. SECOND, AN UNCERTAIN TAX POSITION THAT MEETS THE MORE LIKELY THAN NOT THRESHOLD IS MEASURED TO DETERMINE THE AMOUNT OF BENEFIT TO RECOGNIZE IN THE FINANCIAL STATEMENTS. THE POSITION IS MEASURED AT THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON ULTIMATE SETTLEMENT. UNCERTAIN TAX POSITIONS THAT PREVIOUSLY FAILED TO MEET THE MORE LIKELY THAN NOT RECOGNITION THRESHOLD ARE RECOGNIZED IN THE FIRST SUBSEQUENT REPORTING PERIOD IN WHICH THE THRESHOLD IS MET. PREVIOUSLY RECOGNIZED UNCERTAIN TAX POSITIONS THAT NO LONGER MEET THE MORE LIKELY THAN NOT RECOGNITION THRESHOLD ARE DERECOGNIZED IN THE FIRST SUBSEQUENT REPORTING PERIOD IN WHICH THE THRESHOLD IS NO LONGER MET. SHOULD INTEREST OR PENALTIES BE ASSESSED, SUCH EXPENSES WOULD BE REFLECTED IN SELLING, GENERAL AND ADMINISTRATIVE EXPENSES. AS OF DECEMBER 31, 2020 AND 2019, THE COMPANY HAD NO UNCERTAIN TAX POSITIONS. 1 RHODE ISLAND FOUNDATION ONE UNION STATION PROVIDENCE RI 02914 222604963 501 (C) (3) 6033300 PROGRAM SUPPORT TUFTS UNIVERSITY BALLOU HAL MEDFORD MA 02155 042103634 501 (C) (3) 500000 PROGRAM SUPPORT COMMUNITY PREPARATORY SCHOOL 135 PRAIRIE AVE PROVIDENCE RI 02905 222485332 501 (C) (3) 100000 PROGRAM SUPPORT UNITED WAY OF RI 50 VALLEY STREET PROVIDENCE RI 02909 050276059 501 (C) (3) 73424 PROGRAM SUPPORT CROSSROADS RHODE ISLAND 160 BROAD STREET PROVIDENCE RI 02903 050259094 501 (C) (3) 27100 PROGRAM SUPPORT RI COMMUNITY FOOD BANK 200 NIANTIC AVE PROVIDENCE RI 02907 050395601 501 (C) (3) 21015 PROGRAM SUPPORT FAMILY SERVICE OF RI 55 HOPE STREET PROVIDENCE RI 02904 050258858 501 (C) (3) 20334 PROGRAM SUPPORT SAN MIGUEL SCHOOL 525 BRANCH AVENUE PROVIDENCE RI 02904 223232973 501 (C) (3) 17750 PROGRAM SUPPORT SALVE REGINA UNIVERSITY 100 OCHRE POINT AVE NEWPORT RI 02840 050259080 501 (C) (3) 16050 PROGRAM SUPPORT RI HOSPITAL FOUNDATION 167 POINT STREET PROVIDENCE RI 02903 050468736 501 (C) (3) 14000 PROGRAM SUPPORT MAKE A WISH FOUNDATION OF MA AND RI 133 FEDERAL STREET 2ND FLOOR BOSTON MA 02110 222867371 501 (C) (3) 13925 PROGRAM SUPPORT PROVIDENCE COLLEGE 1 CUNNING SQUARE PROVIDENCE RI 02908 050258932 501 (C) (3) 11500 PROGRAM SUPPORT SPECIAL OLYMPICS RHODE ISLAND 370 GEORGE WASHINGTON HIGHWAY SMTHFIELD RI 02917 050377867 501 (C) (3) 10500 PROGRAM SUPPORT AMERICAN HEART ASSOCIATION ONE STATE STREET SUITE 200 PROVIDENCE RI 02908 474719982 501 (C) (3) 10325 PROGRAM SUPPORT AMOS HOUSE 415 FRIENDSHIP STREET PROVIDENCE RI 02907 050387218 501 (C) (3) 10000 PROGRAM SUPPORT JUNIOR ACHIEVEMENT 57 GREENE STREET WARWICK RI 02886 050263443 501 (C) (3) 9000 PROGRAM SUPPORT JEFFREY OSBORNE CELEBRITY CLASSIC P O BOX 27815 PROVIDENCE RI 02907 050510492 501 (C) (3) 7500 PROGRAM SUPPORT THE GREATER PROVIDENCE CHAMBER 30 EXCHANGE TERRACE PROVIDENCE RI 02903 050203250 501 (C) (3) 6700 PROGRAM SUPPORT 18 PART I, LINE 2: THE COMPANY DOES NOT ISSUE SPECIFIC GRANTS, HOWEVER, AS PART OF THE CORPORATE RESPONSIBILITY PROGRAM, DELTA DENTAL OF RHODE ISLAND SUPPORTS LOCAL CHARITABLE ORGANIZATIONS. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 JOSEPH NAGLE THRU 062019 FORMER PRESIDENT & CEO 35207 0 250735 0 1181961 0 4301 0 1278 0 1473482 0 0 0 JOSEPH R PERRONI PRESIDENT & CEO 500329 0 117016 0 16649 0 56770 0 23916 0 714680 0 0 0 THOMAS D CHASE COO 0 387165 0 81064 0 3847 0 51740 0 17589 0 541405 0 0 RICHARD A FRITZ VP FINANCE & CFO 373870 0 74435 0 5664 0 49269 0 18219 0 521457 0 0 0 WENDY DUNCAN VP MARKETING & EXTERNAL AFFAIRS 309807 0 29581 0 1578 0 42827 0 2359 0 386152 0 0 0 JAMES T KINNEY DIRECTOR OF SALES 250698 0 26463 0 6676 0 24383 0 29260 0 337480 0 0 0 ANGELO PEZZULLO DIRECTOR MAJOR ACCOUNTS 173038 0 44542 0 8471 0 22574 0 23381 0 272006 0 0 0 ELLEN M HENDRIX AVP UNDERWRITING 169374 0 17069 0 1576 0 21928 0 21967 0 231914 0 0 0 GEORGE J BEDARD CONTROLLER 149400 0 12900 0 2074 0 17752 0 18696 0 200822 0 0 0 DUANE S EASTER DIR CORP REPORTING & FIN ANALYSIS 142650 0 14653 0 701 0 17664 0 23636 0 199304 0 0 0 SHAUNA FONTAINE DIRECTOR- DELTA DENTAL SALES 128828 0 24354 0 6048 0 15252 0 19738 0 194220 0 0 0 KELLY GERAGOTELIS SR. DIRECTOR ACCUARIAL 133653 0 12975 0 641 0 16011 0 21729 0 185009 0 0 0 MELISSA GENNARI AVP & DIRECTOR COMPLIANCE 148520 0 12744 0 680 0 17021 0 3021 0 181986 0 0 0 PART I, LINE 1A GROSS-UP PAYMENTS THE PRESIDENT'S EMPLOYMENT AGREEMENT CONTAINS PROVISIONS FOR HIM TO RECEIVE PAYMENTS SO THAT HE CAN PERSONALLY PROCURE CERTAIN FRINGE BENEFITS SUCH AS LIFE INSURANCE AND LONG TERM DISABILITY POLICIES THAT ARE OTHERWISE AVAILABLE TO ALL OTHER EMPLOYEES. THIS ADDITIONAL INCOME IS GROSSED UP TO ACCOUNT FOR THE TAX IMPACT OF THESE PAYMENTS AND THE GROSS-UP IS INCLUDED IN REPORTABLE COMPENSATION ON SCHEDULE J PART II COLUMN (B)(III). HEALTH OR SOCIAL CLUB DUES THE PRESIDENT IS A MEMBER OF A LOCAL BUSINESS CLUB. REIMBURSEMENT FOR USE OF THIS IS EXCLUSIVELY FOR OFFSITE EMPLOYEE MEETINGS AS WELL AS BUSINESS RELATED MEETINGS WITH INDIVIDUALS OUTSIDE THE COMPANY. THE COMPANY MAINTAINS STRICT POLICIES REGARDING SUBSTANTIATION AND DOCUMENTATION FOR ALL BUSINESS RELATED EXPENSES INCURRED. THIS BENEFIT IS NOT REPORTED AS TAXABLE COMPENSATION. BLISH & CAVANAGH LANDRY - SECRETARY 150199 LEGAL SERV 0 EAST BAY DENTAL ASSO INC ENRIGHT - BOARD MEMBER 591922 DENTAL SERV 0 SCHEDULE L PART IV BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONSTHE ORGANIZATION ENGAGES IN TRANSACTIONS WITH DENTAL PRACTICES WITH WHOM THE BOARD MEMBER IDENTIFIED ON SCHEDULE L, PART IV, LINE (2) HAS A CONTROLLING INTEREST. THE TRANSACTION IS ENTERED INTO IN THE ORDINARY COURSE OF BUSINESS AND AT FAIR MARKET VALUE. THE TRANSACTION WITH THIS ENTITY IS SUBJECT TO THE SAME PROCEDURES AND REVIEW AS ALL DENTAL PRACTICES. THE ORGANIZATION RECEIVED LEGAL SERVICES FROM THE LAW FIRM, BLISH & CAVANAGH, WITH WHOM THE SECRETARY, IDENTIFIED ON SCHEDULE L, PART IV, LINE (1), HAS A CONTROLLING INTEREST. THIS TRANSACTION IS ENTERED INTO IN THE ORDINARY COURSE OF BUSINESS AND AT FAIR MARKET VALUE. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OF THE ORGANIZATION THE ORGANIZATION HAS 76 CORPORATE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS THAT MAY ELECT THE GOVERNING BODY THE CORPORATE MEMBERS MEET ANNUALLY TO APPROVE ANY BY-LAW CHANGES AND TO ELECT INDIVIDUALS TO THE 15 MEMBER BOARD OF DIRECTORS WHICH IS THE ORGANIZATION'S GOVERNING BODY. ALL 15 MEMBERS OF THE BOARD OF DIRECTORS ALSO SERVE AS REPRESENTATIVES OF THE CORPORATE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS OF THE GOVERNING BODY SUBJECT TO APPROVAL BY MEMBERS THE MEMBERS OF THE CORPORATION, AT THE ANNUAL MEETING, SHALL ELECT DIRECTORS OF THE CORPORATION THAT HAVE BEEN PROPOSED BY THE BOARD OF DIRECTORS AND SHALL APPROVE AMENDMENTS OR ALTERATIONS OF THE BY-LAWS PROPOSED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE ANNUAL FORM 990 IS PREPARED BY GRANT THORNTON LLP, THE COMPANY'S TAX ADVISOR AND INDEPENDENT AUDITOR, USING INFORMATION PROVIDED BY DELTA DENTAL OF RHODE ISLAND. AFTER PREPARATION AND REVIEW OF THE RETURN BY GRANT THORNTON, THE DRAFT IS REVIEWED BY DELTA DENTAL'S FINANCE DEPARTMENT AND MANAGEMENT, INCLUDING THE CONTROLLER, SR VP-CFO, AND CEO AS NECESSARY. THE COMPLETE FORM 990 IS THEN PROVIDED TO EACH MEMBER OF THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY ALL W-2 EMPLOYEES, INTERNS, TEMPS, DENTAL CONSULTANTS, AND BOARD MEMBERS COMPLETE AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE. THE REVIEW PROCESS FOR COMPLETE QUESTIONNAIRES CONTAINING DISCLOSURES IS AS FOLLOWS: FOR W-2 EMPLOYEES, INTERNS, AND TEMPS, DISCLOSURES ARE REVIEWED BY THE AVP & DIRECTOR OF COMPLIANCE AND SR VP-CFO. DISCLOSED POTENTIAL CONFLICTS ARE DISCUSSED AND MAY BE ELEVATED IN THE REVIEW PROCESS TO THE CEO AND EXTERNAL LEGAL COUNSEL FOR ADVICE. ANY REQUIRED ACTIONS ARE IMMEDIATELY IMPLEMENTED IN ACCORDANCE WITH THE COMPANY'S DOCUMENTED CONFLICT OF INTEREST POLICIES. FOR THE CEO AND SR VP-CFO, DISCLOSURES ARE REVIEWED BY EXTERNAL LEGAL COUNSEL. LEGAL COUNSEL ADVISES OF ANY REQUIRED ACTIONS WHICH ARE IMMEDIATELY IMPLEMENTED IN ACCORDANCE WITH THE COMPANY'S DOCUMENTED STANDARDS OF CONDUCT AND BUSINESS ETHICS AND CONFLICT OF INTEREST POLICIES. FOR DENTAL CONSULTANTS, DISCLOSURES ARE REVIEWED BY THE AVP & DIRECTOR OF COMPLIANCE, THE SR VP-CFO, AND THE SR VP-COO. ALL CONFLICTS ARE DISCUSSED AND MAY BE ELEVATED TO EXTERNAL LEGAL COUNSEL FOR ADVICE. ANY REQUIRED ACTIONS ARE IMMEDIATELY IMPLEMENTED IN ACCORDANCE WITH THE COMPANY'S DOCUMENTED CONFLICT OF INTEREST POLICIES. FOR BOARD MEMBERS, DISCLOSURES ARE REVIEWED BY EXTERNAL LEGAL COUNSEL. LEGAL COUNSEL PREPARES A WRITTEN MEMORANDUM FOR PRESENTATION TO BOARD MEMBERS WITH THE RESULTS OF THE REVIEW. ALL CONFLICTS ARE DISCUSSED AND ANY REQUIRED ACTIONS ARE IMMEDIATELY IMPLEMENTED IN ACCORDANCE WITH THE COMPANY'S DOCUMENTED CONFLICT OF INTEREST POLICIES. IN THE CASE OF A CONFLICT, IMMEDIATE AND APPROPRIATE ACTION IS TAKEN IN ACCORDANCE WITH THE COMPANY'S POLICIES. PERSONS WITH A CONFLICT ARE RECUSED FROM DISCUSSIONS AND DO NOT VOTE ON RESOLUTIONS THAT PERTAIN DIRECTLY TO THEIR CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION POLICY THE BOARD OF DIRECTORS ELECTS INDEPENDENT MEMBERS TO SERVE ON ITS COMPENSATION COMMITTEE WHICH IS RESPONSIBLE FOR SETTING THE CEO'S COMPENSATION AND APPROVING PAY RANGES FOR THE VARIOUS JOB TRACKS WITHIN THE COMPANY AS WELL AS APPROVING ANY FRINGE BENEFITS. THE COMPANY AND THE COMMITTEE ANNUALLY CONTRACT WITH INDEPENDENT COMPENSATION CONSULTANTS TO HELP DETERMINE APPROPRIATE PAY RANGES AND FRINGE BENEFITS SUCH AS HEALTH AND OTHER INSURANCES AND RETIREMENT AND OTHER BENEFITS. COMPARABLE DATA IS USED TO DETERMINE WHETHER COMPENSATION IS CONSISTENT WITH SIMILAR ORGANIZATIONS. RECOMMENDATIONS FOR THE CEO'S COMPENSATION ARE MADE BY THE COMPENSATION COMMITTEE TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. THE REVIEW AND APPROVAL PROCESS IS CONTEMPORANEOUSLY DOCUMENTED IN THE MINUTES OF BOTH THE COMPENSATION COMMITTEE AND THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC DISCLOSURE THE COMPANY'S GOVERNING DOCUMENTS, SUCH AS BYLAWS AND CORPORATE CHARTER, ARE AVAILABLE UPON REQUEST FROM THE COMPANY AND CAN ALSO BE OBTAINED FROM THE SECRETARY OF STATE'S OFFICE WITHIN THE STATE OF RHODE ISLAND. THE COMPANY'S CONFLICT OF INTEREST POLICY, AS WELL AS THE COMPANY'S AUDITED FINANCIAL STATEMENTS, ARE ALSO AVAILABLE UPON REQUEST AT THE COMPANY'S HEADQUARTERS. ADDITIONALLY, ALL STATUTORY FILINGS COMPLETED BY THE COMPANY ARE AVAILABLE THROUGH THE INSURANCE DIVISION WITHIN THE RHODE ISLAND DEPARTMENT OF BUSINESS REGULATION. THE COMPANY'S FORM 990 IS ALSO POSTED ON WWW.GUIDESTAR.ORG. FORM 990, PART XI, LINE 9: OTHER CHANGES IN NET ASSETS OR FUND BALANCES REPRESENTS AN ADJUSTMENT FOR INCOME AND OVERACCRUED EXPENSES RELATED TO JOINT VENTURES WITH OTHER DELTA PLANS. 686,584. COVID-19 PANDEMIC THE COVID-19 PANDEMIC HAS DEVELOPED RAPIDLY IN 2020, WITH A SIGNIFICANT NUMBER OF CASES. MEASURES TAKEN BY VARIOUS GOVERNMENTS TO CONTAIN THE VIRUS HAVE AFFECTED ECONOMIC ACTIVITY. ON MARCH 29, 2020, THE GOVERNOR OF THE STATE OF RHODE ISLAND ISSUED A "STAY AT HOME ORDER, REQUIRING THAT ALL EMPLOYEES WHO COULD WORK FROM HOME DO SO, AS WELL AS THE TEMPORARY CLOSURE OF ALL NON-ESSENTIAL BUSINESSES AND OPERATIONS. ALMOST ALL BUSINESSES HAVE NOW RE-OPENED, ALBEIT UNDER TIGHT RESTRICTIONS THAT IN MANY CASES HAMPER A COMPANY'S ABILITY TO OPERATE AT PRE-COVID LEVELS. THE COMPANY HAS TAKEN A NUMBER OF MEASURES TO MONITOR AND MITIGATE THE EFFECTS OF COVID-19, SUCH AS SAFETY AND HEALTH MEASURES FOR ITS PEOPLE, INCLUDING SOCIAL DISTANCING AND WORKING FROM HOME. AT THIS STAGE, THE IMPACT ON THE COMPANY'S BUSINESS AND RESULTS HAS NOT BEEN SIGNIFICANT. THE EXTENT OF THE ONGOING IMPACT OF THE COVID-19 OUTBRAK ON THE COMPANY'S OPERATIONAL AND FINANCIAL PERFORMANCE WILL CONTINUE TO BE DEPENDENT ON CERTAIN DEVELOPMENTS, INCLUDING THE DURATION AND SPREAD OF THE OUTBREAK, HOW QUICKLY VACCINES CAN BE DISTRIBUTED, THE IMPACT ON THE COMPANY'S CUSTOMERS, EMPLOYEES AND VENDORS, AND THE PERFORMANCE OF ITS INVESTMENT PORTFOLIO, ALL OF WHICH REMAIN UNPREDICTABLE AT THIS TIME. THE COMPANY'S INVESTMENT PORTFOLIO, WHICH IS COMPRISED OF BOND AND EQUITY SECURITIES, IS SUBJECT TO CREDIT RISKS RELATED TO THE UNDERLYING ISSUERS OF SUCH SECURITIES, AS WELL AS BROADER MARKET PERFORMANCE. THE COMPANY WILL CONTINUE TO FOLLOW THE VARIOUS GOVERNMENT POLICIES AND ADVICE AND, IN PARALLEL, WILL DO ITS UTMOST TO CONTINUE ITS OPERATIONS IN THE BEST AND SAFEST WAY POSSIBLE WITHOUT JEOPARDIZING THE HEALTH OF ITS PEOPLE. 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