Rvc Insurance Company Inc

Nonprofit profile at a glance

EIN
208067039
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Rockville Centre, NY, USA
Phone
5167053700
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Insurance Providers
Affiliation
Christianity

Reported finances

Revenue
$38,643,811
Expenses
$41,272,308
Assets
$422,009,545
Liabilities
$320,671,798

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • BRIAN MCGUIRE (PRESIDENT)

Highest reported compensation

  • PATRICK O'SHAUGHNESSY DO (DIRECTOR): $4,755,111 total reported compensation
  • PATRICK MINICUS (TREASURER): $1,907,293 total reported compensation
  • LESLI GIGLIO (SECRETARY): $476,761 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Rvc insurance company inc. Is a member of catholic health. We, at catholic health, humbly join together to bring christ's healing mission and the mission of mercy of the catholic church expressed in catholic health care to our communities. I-care values integrity: we are who we say we are and act in accordance with the splendor of truth of our catholic moral teaching and our catholic values. Compassion: we have compassion for our patients, see the suffering christ in them, strive to alleviate suffering and serve the spiritual, physical and emotional needs of our patients. Accountability: we take responsibility for our actions and their consequences. Respect: we honor the sanctity of life at every stage of life and the dignity of every person, and incorporate all the principles of catholic social teaching in our relationships and advocacy. Excellence: we seek the glory of god in the compassionate service of our patients, and we strive to do the best that can be done, whatever our role.

What it reported doing in 2024

Rvc provides excess professional liability, general liability (including terrorism coverage), and employers liability insurance coverage solely to certain catholic health (ch) entities. Beginning november 1, 2013, rvc provides primary coverage to certain ch entities for general liability, directors and officers liability and employment practices liability.

Operating model

Revenue model
Earned-program. 85% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 52% for direct work, and 48% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 68
  • Accountability: 51
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 25%; rating input score 25; 6th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -6.8%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 10.23; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.76; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 5.5%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: 15.9% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 5.8% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 13.9% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 1 of 4 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $41.3M in reported program spending
  • Leadership: top reported pay $4.8M · 4 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $1.9M reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 54 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 25/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 14/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.