First Medical Insurance Compant A Risk Retention Group
First Medical Insurance Company A Risk Retention Group consistently reports zero officer compensation despite tens of millions in revenue and over $100 million in assets.
EIN: 10719207 · Colchester, VT · NTEE: Y200 · Updated: 2026-03-27
| Metric | Value |
|---|---|
| Total Revenue | $84.9M |
| Total Expenses | $12.6M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $100 |
| Net Assets | $36.6M |
| Transparency Score | 50/100 |
Is First Medical Insurance Compant A Risk Retention Group Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
First Medical Insurance Compant A Risk Retention Group directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About First Medical Insurance Compant A Risk Retention Group
First Medical Insurance Compant A Risk Retention Group (EIN: 10719207) is a nonprofit organization based in Colchester, VT, classified under NTEE code Y200. The organization reported total revenue of $84.9M and total assets of $110.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of First Medical Insurance Compant A Risk Retention Group's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
First Medical Insurance Compant A Risk Retention Group is a major nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $21.2M |
| Total Expenses | $12.6M |
| Surplus / Deficit | +$8.5M |
| Total Assets | $106.1M |
| Total Liabilities | $69.6M |
| Net Assets | $36.6M |
| Operating Margin | 40.2% |
| Debt-to-Asset Ratio | 65.6% |
| Months of Reserves | 100.7 months |
Financial Health Grade: A
In 2023, First Medical Insurance Compant A Risk Retention Group reported a surplus of $8.5M with revenue exceeding expenses, holds 100.7 months of operating reserves (strong position), has a debt-to-asset ratio of 65.6% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), First Medical Insurance Compant A Risk Retention Group's revenue has grown at a compound annual growth rate (CAGR) of 1.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +13.2% | -10.2% | +14.8% |
| 2022 | +21.8% | -4.4% | -9.5% |
| 2021 | -26.6% | +18.3% | +7.9% |
| 2020 | +28.0% | +45.4% | -4.0% |
| 2019 | +3.0% | -18.6% | +9.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates First Medical Insurance Compant A Risk Retention Group with a Mission Score of 50 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, First Medical Insurance Compant A Risk Retention Group allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $8.5M, with revenue exceeding expenses.
- Debt-to-asset ratio: 65.6%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an entity with over $100 million in assets and significant annual revenue. This suggests that executive compensation is either paid by a related entity, structured as management fees not reported as officer compensation, or that the organization is managed by uncompensated volunteers, which is unlikely for an insurance provider of this scale.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of First Medical Insurance Compant A Risk Retention Group's IRS 990 filings:
- Consistent reporting of 0% officer compensation despite significant revenue and assets, raising transparency concerns about true leadership costs.
- Lack of detailed expense breakdown on publicly available 990 data makes it difficult to assess specific administrative and program spending ratios for a non-traditional nonprofit.
Strengths
The following positive indicators were identified for First Medical Insurance Compant A Risk Retention Group:
- Consistent revenue generation, with the latest reported revenue at $21,164,705 for 2023.
- Healthy asset base, growing to $106,140,016 in 2023, indicating financial stability for an insurance entity.
- Positive net assets (Assets minus Liabilities) consistently maintained over the years, demonstrating solvency.
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) some concerns. Mission Score: 50/100. 2 red flags identified, 3 strengths noted.
How does First Medical Insurance Compant A Risk Retention Group spend its money?
First Medical Insurance Compant A Risk Retention Group directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to First Medical Insurance Compant A Risk Retention Group tax-deductible?
First Medical Insurance Compant A Risk Retention Group is registered as a tax-exempt nonprofit (EIN: 10719207). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the First Medical Insurance Compant A Risk Retention Group CEO make?
First Medical Insurance Compant A Risk Retention Group's highest-compensated officer earns $100 annually. The organization reported $84.9M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of First Medical Insurance Compant A Risk Retention Group's spending goes to programs?
First Medical Insurance Compant A Risk Retention Group directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does First Medical Insurance Compant A Risk Retention Group compare to similar nonprofits?
With a transparency score of 50/100 (Fair), First Medical Insurance Compant A Risk Retention Group is near average for NTEE category Y200 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is First Medical Insurance Compant A Risk Retention Group located?
First Medical Insurance Compant A Risk Retention Group is headquartered in Colchester, Vermont and files with the IRS under EIN 10719207. It is classified under NTEE code Y200.
How many years of IRS 990 filings does First Medical Insurance Compant A Risk Retention Group have?
First Medical Insurance Compant A Risk Retention Group has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $84.9M in total revenue.
How are the executives and officers of First Medical Insurance Company A Risk Retention Group compensated, given the 0% reported on all 990 filings?
The 990 filings consistently show 0% officer compensation. This suggests that compensation for leadership may be handled through management fees paid to an external entity, or that officers are compensated by a parent organization, rather than directly by this entity and reported on its 990.
What constitutes 'program service expenses' for a risk retention group like First Medical Insurance Company?
For an insurance provider like a risk retention group, 'program service expenses' would primarily include the costs associated with underwriting, claims processing, claims payments, and other direct operational expenses related to providing insurance coverage to its members.
Is First Medical Insurance Company A Risk Retention Group a traditional charity?
No, First Medical Insurance Company A Risk Retention Group is not a traditional charity. Its NTEE code Y200 (Insurance Providers) and its designation as a Risk Retention Group indicate it is an insurance company providing coverage to its members, not a public charity focused on grant-making or direct charitable services.
Filing History
IRS 990 filing history for First Medical Insurance Compant A Risk Retention Group showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), First Medical Insurance Compant A Risk Retention Group's revenue has grown by 15.6%, moving from $18.3M to $21.2M. Total assets decreased by 6.2% over the same period, from $113.2M to $106.1M. Total functional expenses rose by 139.2%, from $5.3M to $12.6M. In its most recent filing year (2023), First Medical Insurance Compant A Risk Retention Group reported a surplus of $8.5M, with revenue exceeding expenses. The organization holds $69.6M in liabilities against $106.1M in assets (debt-to-asset ratio: 65.6%), resulting in net assets of $36.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $21.2M | $12.6M | $106.1M | $69.6M | — | — |
| 2022 | $18.7M | $14.1M | $92.4M | $66.1M | — | View 990 |
| 2021 | $15.4M | $14.7M | $102.1M | $62.3M | — | View 990 |
| 2020 | $20.9M | $12.4M | $94.7M | $55.5M | — | View 990 |
| 2019 | $16.3M | $8.6M | $98.6M | $49.3M | — | View 990 |
| 2018 | $15.9M | $10.5M | $90.2M | $54.8M | — | View 990 |
| 2017 | $14.5M | $11.2M | $114.1M | $57.4M | — | View 990 |
| 2016 | $14.6M | $11.5M | $97.2M | $47.0M | — | View 990 |
| 2015 | $13.6M | $6.9M | $106.9M | $43.4M | — | View 990 |
| 2014 | $16.2M | $6.4M | $101.9M | $42.1M | — | View 990 |
| 2013 | $16.0M | $7.5M | $120.9M | $64.4M | — | View 990 |
| 2012 | $18.8M | $5.9M | $110.5M | $45.9M | — | View 990 |
| 2011 | $18.3M | $5.3M | $113.2M | $47.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $21.2M, expenses of $12.6M, and assets of $106.1M (revenue +13.2% year-over-year).
- 2022: Revenue of $18.7M, expenses of $14.1M, and assets of $92.4M (revenue +21.8% year-over-year).
- 2021: Revenue of $15.4M, expenses of $14.7M, and assets of $102.1M (revenue -26.6% year-over-year).
- 2020: Revenue of $20.9M, expenses of $12.4M, and assets of $94.7M (revenue +28.0% year-over-year).
- 2019: Revenue of $16.3M, expenses of $8.6M, and assets of $98.6M (revenue +3.0% year-over-year).
- 2018: Revenue of $15.9M, expenses of $10.5M, and assets of $90.2M (revenue +9.5% year-over-year).
- 2017: Revenue of $14.5M, expenses of $11.2M, and assets of $114.1M (revenue -0.9% year-over-year).
- 2016: Revenue of $14.6M, expenses of $11.5M, and assets of $97.2M (revenue +7.8% year-over-year).
- 2015: Revenue of $13.6M, expenses of $6.9M, and assets of $106.9M (revenue -16.5% year-over-year).
- 2014: Revenue of $16.2M, expenses of $6.4M, and assets of $101.9M (revenue +1.4% year-over-year).
- 2013: Revenue of $16.0M, expenses of $7.5M, and assets of $120.9M (revenue -15.0% year-over-year).
- 2012: Revenue of $18.8M, expenses of $5.9M, and assets of $110.5M (revenue +2.9% year-over-year).
- 2011: Revenue of $18.3M, expenses of $5.3M, and assets of $113.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for First Medical Insurance Compant A Risk Retention Group:
Data Sources and Methodology
This transparency report for First Medical Insurance Compant A Risk Retention Group is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.