Is First Medical Insurance Compant A Risk…

Quick charity verification for First Medical Insurance Compant A Risk Retention Group (EIN: 10719207)

Spending Breakdown

How First Medical Insurance Compant A Risk Retention Group 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 First Medical Insurance Compant A Risk Retention Group

Is First Medical Insurance Compant A Risk Retention Group a legitimate charity?

Based on AI analysis of IRS 990 filings, First Medical Insurance Compant A Risk Retention Group (EIN: 10719207) shows mixed signals. Mission Score: 50/100. 2 red flags identified, 3 strengths noted.

Is First Medical Insurance Compant A Risk Retention Group a good charity to donate to?

First Medical Insurance Compant A Risk Retention Group has a Mission Score of 50/100. Revenue: $84.9M. Assets: $110.5M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for First Medical Insurance Compant A Risk Retention Group?

The Employer Identification Number (EIN) for First Medical Insurance Compant A Risk Retention Group is 10719207. 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 First Medical Insurance Compant A Risk Retention Group spend its money?

First Medical Insurance Compant A Risk Retention Group allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify First Medical Insurance Compant A Risk Retention Group's tax-exempt status?

You can verify First Medical Insurance Compant A Risk Retention Group's tax-exempt status using EIN 10719207 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

First Medical Insurance Company A Risk Retention Group operates as a risk retention group, which is a type of insurance company, rather than a traditional public charity. This distinction is crucial for interpreting its financial health and spending. The organization consistently reports zero officer compensation across all available filings, which is unusual for an entity of its size with over $100 million in assets and tens of millions in annual revenue. This suggests that executive compensation might be structured differently, perhaps through management fees paid to an external entity, or that the officers are compensated by a parent organization, which would impact the transparency of true leadership costs. The NTEE code Y200 (Insurance Providers) further clarifies its operational nature, indicating it's not a typical grant-making or direct service nonprofit.

Financially, the organization shows consistent revenue generation, with the latest reported revenue at $21,164,705 for 2023. Its assets have grown steadily, reaching $106,140,016 in 2023, while liabilities are also substantial, at $69,577,733. The ratio of assets to liabilities suggests a healthy balance sheet for an insurance entity. However, without a detailed breakdown of expenses into program, administrative, and fundraising categories, it's challenging to assess spending efficiency in the context of a typical nonprofit. Given its structure as a risk retention group, its 'program' spending would primarily be related to insurance claims and operational costs associated with providing insurance, rather than charitable programs.

The lack of reported officer compensation directly on the 990 forms for an organization of this scale raises questions about the full picture of its administrative costs and executive oversight. While not necessarily a 'red flag' for an insurance entity, it does limit the transparency regarding how leadership is compensated and how much of the organization's resources are allocated to governance and management. For a risk retention group, the primary beneficiaries are its members (the insured), and its financial health is measured by its ability to cover claims and maintain solvency.

Is First Medical Insurance Compant A Risk Retention Group Legit?

Verdict: First Medical Insurance Compant A Risk Retention Group shows mixed signals

Red Flags

Strengths