Rvc Insurance Company Inc
Rvc Insurance Company Inc reports significant operating deficit in 2023 while assets continue to grow.
EIN: 208067039 · Rockville Ctr, NY · NTEE: Y20 · Updated: 2026-03-28
Is Rvc Insurance Company Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Rvc Insurance Company Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Rvc Insurance Company Inc
Rvc Insurance Company Inc (EIN: 208067039) is a nonprofit organization based in Rockville Ctr, NY, classified under NTEE code Y20. The organization reported total revenue of $89.1M and total assets of $422.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rvc Insurance Company Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Rvc Insurance Company Inc is a major nonprofit that has been operating for 17 years, with 16 years of IRS 990 filings on record (2008–2023).
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $30.8M |
| Total Expenses | $51.9M |
| Surplus / Deficit | $-21,193,876 |
| Total Assets | $368.0M |
| Total Liabilities | $272.2M |
| Net Assets | $95.8M |
| Operating Margin | -68.9% |
| Debt-to-Asset Ratio | 74.0% |
| Months of Reserves | 85.0 months |
Financial Health Grade: C
In 2023, Rvc Insurance Company Inc reported a deficit of $21.2M with expenses exceeding revenue, holds 85.0 months of operating reserves (strong position), has a debt-to-asset ratio of 74.0% (high leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +19.0% | +203.7% | +13.5% |
| 2022 | -11.9% | +26.9% | +9.5% |
| 2021 | -3.1% | -48.8% | +27.1% |
| 2020 | -14.5% | +185.4% | +4.8% |
| 2019 | +30.2% | -44.2% | +11.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
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 Rvc Insurance Company Inc with a Mission Score of 65 out of 100 (Good). 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: 75%
- fundraising: 10%
According to IRS 990 filings, Rvc Insurance Company Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 deficit of $21.2M, with expenses exceeding revenue.
- Debt-to-asset ratio: 74.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, which is highly unusual for an organization of this size with assets exceeding $300 million, suggesting either a volunteer leadership structure or compensation is reported elsewhere or through a related entity.
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 Rvc Insurance Company Inc's IRS 990 filings:
- Significant operating deficit in 2023 ($21,193,876) despite asset growth.
- High and growing liabilities ($272,189,554 in 202312) relative to assets, warranting scrutiny of financial stability.
- Unusually consistent 0% officer compensation for an organization of this size, raising questions about leadership compensation structure.
Strengths
The following positive indicators were identified for Rvc Insurance Company Inc:
- Consistent asset growth over the past decade, indicating strong financial accumulation.
- Long history of IRS 990 filings (16 filings), demonstrating compliance and transparency in reporting.
- Positive operating margins in several recent years (e.g., 202212, 202112, 201912), showing periods of financial health.
Frequently Asked Questions about Rvc Insurance Company Inc
Is Rvc Insurance Company Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Rvc Insurance Company Inc (EIN: 208067039) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Rvc Insurance Company Inc spend its money?
Rvc Insurance Company Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Rvc Insurance Company Inc tax-deductible?
Rvc Insurance Company Inc is registered as a tax-exempt nonprofit (EIN: 208067039). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Rvc Insurance Company Inc a good charity?
As an insurance provider (NTEE Y20), Rvc Insurance Company Inc's 'charitable' nature differs from typical public charities. Its financial health shows consistent asset growth but also significant year-to-year fluctuations in operating results, including a large deficit in 2023. The 0% officer compensation is a notable point, but a full assessment requires understanding its specific mission and how its insurance activities serve a public benefit.
Why did Rvc Insurance Company Inc have a $21 million operating deficit in 2023?
In the 202312 period, Rvc Insurance Company Inc reported expenses of $51,948,828 against revenues of $30,754,952, resulting in an operating deficit of $21,193,876. The specific reasons for this deficit are not detailed in the summary data but could be due to increased claims, investment losses, or significant one-time operational expenditures.
How has Rvc Insurance Company Inc's asset base changed over time?
Rvc Insurance Company Inc's assets have grown substantially, from $106,649,595 in 201412 to $367,983,508 in 202312, demonstrating a consistent upward trend in its financial holdings over the past decade.
What is the significance of the 0% officer compensation?
The consistent reporting of 0% officer compensation across all filings is highly unusual for an organization with nearly $400 million in assets. It could indicate that leadership is entirely volunteer, compensated by a related entity, or that compensation is not reported under this specific line item on the 990, which would require further investigation for full transparency.
Filing History
IRS 990 filing history for Rvc Insurance Company Inc showing financial trends over 16 years of public records:
In its most recent filing year (2023), Rvc Insurance Company Inc reported a deficit of $21.2M, with expenses exceeding revenue. The organization holds $272.2M in liabilities against $368.0M in assets (debt-to-asset ratio: 74.0%), resulting in net assets of $95.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $30.8M | $51.9M | $368.0M | $272.2M | — | — |
| 2022 | $25.8M | $17.1M | $324.2M | $226.5M | — | View 990 |
| 2021 | $29.4M | $13.5M | $295.9M | $183.8M | — | View 990 |
| 2020 | $30.3M | $26.3M | $232.9M | $147.4M | — | View 990 |
| 2019 | $35.4M | $9.2M | $222.3M | $150.4M | — | View 990 |
| 2018 | $27.2M | $16.5M | $200.0M | $158.2M | — | View 990 |
| 2017 | $25.9M | $26.7M | $180.0M | $145.0M | — | View 990 |
| 2016 | $25.6M | $27.6M | $152.3M | $119.0M | — | View 990 |
| 2015 | $22.7M | $21.4M | $106.6M | $81.9M | — | View 990 |
| 2014 | $22.7M | $21.4M | $106.6M | $81.9M | — | View 990 |
| 2013 | $12.8M | $3.2M | $74.5M | $51.8M | — | View 990 |
| 2012 | $11.8M | $10.4M | $65.8M | $52.1M | — | View 990 |
| 2011 | $13.1M | $10.6M | $56.9M | $44.2M | — | View 990 |
| 2010 | $15.5M | $3.1M | $49.2M | $39.8M | — | View 990 |
| 2009 | $12.1M | $12.6M | $37.7M | $40.5M | — | View 990 |
| 2008 | $0 | $0 | $0 | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $30.8M, expenses of $51.9M, and assets of $368.0M (revenue +19.0% year-over-year).
- 2022: Revenue of $25.8M, expenses of $17.1M, and assets of $324.2M (revenue -11.9% year-over-year).
- 2021: Revenue of $29.4M, expenses of $13.5M, and assets of $295.9M (revenue -3.1% year-over-year).
- 2020: Revenue of $30.3M, expenses of $26.3M, and assets of $232.9M (revenue -14.5% year-over-year).
- 2019: Revenue of $35.4M, expenses of $9.2M, and assets of $222.3M (revenue +30.2% year-over-year).
- 2018: Revenue of $27.2M, expenses of $16.5M, and assets of $200.0M (revenue +5.1% year-over-year).
- 2017: Revenue of $25.9M, expenses of $26.7M, and assets of $180.0M (revenue +1.3% year-over-year).
- 2016: Revenue of $25.6M, expenses of $27.6M, and assets of $152.3M (revenue +12.6% year-over-year).
- 2015: Revenue of $22.7M, expenses of $21.4M, and assets of $106.6M (revenue +0.0% year-over-year).
- 2014: Revenue of $22.7M, expenses of $21.4M, and assets of $106.6M (revenue +77.9% year-over-year).
- 2013: Revenue of $12.8M, expenses of $3.2M, and assets of $74.5M (revenue +8.1% year-over-year).
- 2012: Revenue of $11.8M, expenses of $10.4M, and assets of $65.8M (revenue -9.8% year-over-year).
- 2011: Revenue of $13.1M, expenses of $10.6M, and assets of $56.9M (revenue -15.8% year-over-year).
- 2010: Revenue of $15.5M, expenses of $3.1M, and assets of $49.2M (revenue +28.4% year-over-year).
- 2009: Revenue of $12.1M, expenses of $12.6M, and assets of $37.7M.
- 2008: Revenue of $0, expenses of $0, and assets of $0.
Data Sources and Methodology
This transparency report for Rvc Insurance Company Inc 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.