First Medical Insurance Compant a Risk Retention Group

Analysis

First Medical Insurance Compant a Risk Retention Group is a registered charity in United States, based in Colchester, VT. It received its IRS tax-exemption ruling in December 2004, 22 years ago. Its declared purposes cover mutual and membership benefit, which this site groups under other charitable purposes. 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 December 2023, First Medical Insurance Compant a Risk Retention Group reported income of $21.2m and spending of $12.6m, leaving 40% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $16.3m to $21.2m (+29%), an average of +6.7% a year. The sharpest change came in the year to December 2020, when income rose by 28%. Over the whole period it spent 68% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, First Medical Insurance Compant a Risk Retention Group sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within VT. Charities of a similar size with the same main cause include Southeast Kansas Independent Living Inc ($21.2m), Alternative Schools Network ($21.2m) and Duluth Regional Care Center Inc ($21.1m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 70% of the total. At year end it held assets of $106.1m against liabilities of $69.6m, net assets of $36.6m.