Fiat Lux Risk and Insurance Company

Analysis

Fiat Lux Risk and Insurance Company is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in December 2015, 11 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 (type ii) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Fiat Lux Risk and Insurance Company reported income of $538.4m and spending of $386.8m, leaving 28% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $300.6m to $538.4m (+79%), an average of +16% a year. The sharpest change came in the year to June 2022, when income rose by 107%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Fiat Lux Risk and Insurance Company sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within DC. Charities of a similar size with the same main cause include University of Victoria ($530.0m), Mercy Clinic East Communities ($545.5m) and Seton Hall University ($528.4m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 95% of the total. At year end it held assets of $1.80bn against liabilities of $1.33bn, net assets of $465.6m.