Albedo Insurance Company Ic

Analysis

Albedo Insurance Company Ic is a registered charity in United States, based in Burlington, VT. It received its IRS tax-exemption ruling in October 2020, 6 years ago. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Albedo Insurance Company Ic reported income of $42.9m and spending of $33.1m, leaving 23% of income unspent that year. Across the 3 years on record, from June 2021 to June 2023, income grew from $14.7m to $42.9m (+192%), an average of +71% a year. The sharpest change came in the year to June 2022, when income rose by 227%. Over the whole period it spent 71% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Albedo Insurance Company Ic sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within VT. Charities of a similar size with the same main cause include Ampp Global Center Inc ($42.8m), Edadvance ($42.9m) and Goodwill Industries of Southern Arizona Inc ($42.8m).

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 $99.3m against liabilities of $67.3m, net assets of $32.0m.