Is Boston Medical Center Insurance Co Ltd Of Vermont Legit?
Quick charity verification for Boston Medical Center Insurance Co Ltd Of Vermont (EIN: 201810549)
Verdict: Boston Medical Center Insurance Co Ltd Of Vermont shows mixed signals
40/100Mission Score
$0Revenue
$40KAssets
3Red Flags
3Strengths
Red Flags
Zero revenue reported for the past four fiscal periods (2020-2023), indicating a lack of operational funding.
Significant decline in assets from $24,389,942 in 2017 to $40,249 currently, suggesting a substantial reduction in financial capacity or a distribution of assets.
Expenses incurred without corresponding revenue in recent years, leading to a net loss and further asset depletion.
Strengths
Consistent reporting of zero officer compensation across all filings, indicating no executive pay burden.
Regular filing of IRS Form 990, demonstrating compliance and transparency in reporting.
Low liabilities in recent years, with $2,200 in 2023 and zero in 2020 and 2019, suggesting minimal financial obligations.
Spending Breakdown
How Boston Medical Center Insurance Co Ltd Of Vermont allocates its funds across programs, administration, and fundraising.
0%
Program Spending
Concerning — less than half to programs
100%
Admin Costs
High — over 25% on administration
0%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Boston Medical Center Insurance Co Ltd Of Vermont
Is Boston Medical Center Insurance Co Ltd Of Vermont a legitimate charity?
Based on AI analysis of IRS 990 filings, Boston Medical Center Insurance Co Ltd Of Vermont (EIN: 201810549) shows mixed signals. Mission Score: 40/100. 3 red flags identified, 3 strengths noted.
Is Boston Medical Center Insurance Co Ltd Of Vermont a good charity to donate to?
Boston Medical Center Insurance Co Ltd Of Vermont has a Mission Score of 40/100. Revenue: $0. Assets: $40K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Boston Medical Center Insurance Co Ltd Of Vermont?
The Employer Identification Number (EIN) for Boston Medical Center Insurance Co Ltd Of Vermont is 201810549. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Boston Medical Center Insurance Co Ltd Of Vermont spend its money?
Boston Medical Center Insurance Co Ltd Of Vermont allocates 0% to programs, 100% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Boston Medical Center Insurance Co Ltd Of Vermont's tax-exempt status?
You can verify Boston Medical Center Insurance Co Ltd Of Vermont's tax-exempt status using EIN 201810549 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Boston Medical Center Insurance Co Ltd Of Vermont appears to be a captive insurance company, as indicated by its NTEE code E11 (Insurance Providers) and its name. Its financial activity has been minimal in recent years, with zero revenue reported from 2020 to 2023 and expenses ranging from $4,000 to $10,075 during this period. The organization's assets have steadily declined from a peak of over $24 million in 2017 to $40,249 currently, while liabilities have remained low or zero in recent years. The significant revenue and expense figures in 2017 and 2018 suggest a period of more active operations, which has since ceased or drastically reduced.
The organization's financial health, based on recent filings, is characterized by a lack of operational revenue and minimal expenses, suggesting it is either dormant or operating on a very small scale, potentially winding down. The consistent reporting of zero officer compensation across all available filings indicates good transparency regarding executive pay. However, without program service accomplishments or detailed expense breakdowns, it's difficult to assess spending efficiency beyond the low administrative costs.
Given the nature of a captive insurance company, its 'program' spending would typically relate to claims paid or risk management services, which are not detailed in the provided summary. The lack of revenue in recent years, coupled with declining assets, raises questions about its long-term viability or current purpose. The organization consistently files its 990s, demonstrating a commitment to regulatory transparency.