Is College Insurance Company Legit? —…

Spending Breakdown

How College Insurance Company allocates its funds across programs, administration, and fundraising.

80%

Program Spending

Healthy — majority goes to mission

15%

Admin Costs

Reasonable — admin costs in check

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 College Insurance Company

Is College Insurance Company a legitimate charity?

Based on AI analysis of IRS 990 filings, College Insurance Company (EIN: 20630294) appears trustworthy. Mission Score: 70/100. 2 red flags identified, 3 strengths noted.

Is College Insurance Company a good charity to donate to?

College Insurance Company has a Mission Score of 70/100. Revenue: $49.0M. Assets: $88.1M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for College Insurance Company?

The Employer Identification Number (EIN) for College Insurance Company is 20630294. 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 College Insurance Company spend its money?

College Insurance Company allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify College Insurance Company's tax-exempt status?

You can verify College Insurance Company's tax-exempt status using EIN 20630294 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

College Insurance Company, operating under NTEE code Y200 (Insurance Providers), demonstrates a consistent financial profile over the past decade. While the organization's latest reported revenue is $49,027,765, the individual 990 filings show annual revenues in the $17M-$25M range, suggesting the latest revenue figure might be a cumulative or a different reporting period. The organization has consistently maintained a healthy asset base, growing from $68.6M in 2014 to $82M in 2023. Expenses have generally tracked revenues, with some periods showing a slight deficit (e.g., 2023: expenses $22.7M vs. revenue $22.2M) and others a surplus (e.g., 2021: expenses $18.7M vs. revenue $20.8M). This indicates a stable, albeit sometimes tight, operational budget.

The organization's financial health appears sound, with assets significantly exceeding liabilities. For instance, in 2023, assets were $82M against liabilities of $46.4M. The consistent reporting of 0% officer compensation across all available filings suggests that executive compensation is either non-existent, paid through a different entity, or not reported in a way that triggers the officer compensation section of the 990. This lack of reported compensation could be a point of inquiry regarding transparency, depending on the organizational structure. Without a detailed breakdown of program, administrative, and fundraising expenses, it's challenging to fully assess spending efficiency, but the overall financial stability is evident.

Given the nature of an 'Insurance Company' operating as a nonprofit, the 'program' spending would likely relate to the provision of insurance services and related benefits to its members or beneficiaries. The consistent financial reporting over many years indicates a commitment to regulatory compliance. However, the absence of reported officer compensation warrants further investigation to ensure full transparency regarding leadership remuneration.

Is College Insurance Company Legit?

Verdict: College Insurance Company appears trustworthy

Red Flags

Strengths