First Medical Insurance Company (Rrg)

Charity Navigator Rating: Needs Improvement

First Medical Insurance Company (Rrg) received a Two-Star out of Four Star rating from Charity Navigator, indicating a need for improvement in certain areas of accountability and finance. With an overall score of 64%, the organization shows strengths in program expenses, allocating a high 97.14% of its budget to program activities. However, the board's independence is notably lacking, with only 33% of board members being independent, which raises concerns about governance and oversight.

The organization scored well in areas related to financial statements and the absence of material diversion of assets, suggesting a level of financial integrity. However, significant gaps were identified, including missing tax documents on its website and a low score in the liabilities to assets ratio, indicating potential financial risk. Additionally, only one independent board member was noted, which further underscores the need for enhanced governance practices.

Despite the positives, the overall rating reflects a need for the organization to strengthen its governance framework, improve transparency by making essential documents readily accessible online, and enhance its financial stability metrics. Addressing these limitations could help improve ratings and build greater trust with stakeholders.

This AI summary has been generated from information found on Charity Navigator.

First Medical Insurance Company (Rrg) is a legitimate nonprofit organization registered as a 501(c)(3) entity. First Medical Insurance Company (Rrg) submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.

Heare are some key statistics you may want to consider:

Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0

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