Rubicon Insurance Company

Analysis

Rubicon Insurance Company is a registered charity in United States, based in Evanston, IL. It received its IRS tax-exemption ruling in June 1991, 35 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, Rubicon Insurance Company reported income of $4.8m and spending of $15.3m, spending 318% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.3m to $4.8m (+46%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 23%. Over the whole period it spent 192% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Rubicon Insurance Company sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within IL. Charities of a similar size with the same main cause include Old Westbury Gardens Inc ($4.8m), El Puente de Williamsburg Inc ($4.8m) and Community Action Partnership of Middle Alabama Inc ($4.8m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 52% of the total. At year end it held assets of $33.9m against liabilities of $32.3m, net assets of $1.6m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.