Promedica Indemnity Insurance Corporation

Analysis

Promedica Indemnity Insurance Corporation is a registered charity in United States, based in Colchester, VT. It received its IRS tax-exemption ruling in February 2001, 25 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 December 2023, Promedica Indemnity Insurance Corporation reported income of $45.8m and spending of $40.1m, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $15.2m to $45.8m (+201%), an average of +32% a year. The sharpest change came in the year to December 2023, when income rose by 159%. Over the whole period it spent 90% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Promedica Indemnity Insurance Corporation sits at the 93rd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within VT. Charities of a similar size with the same main cause include Indiana University Health Foundation Inc ($45.8m), McAuley-Seton Home Care Inc ($45.9m) and National Kidney Foundation Inc ($45.8m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 83% of the total. At year end it held assets of $156.1m against liabilities of $126.7m, net assets of $29.4m.