Overview
What is College Insurance Company?
College Insurance Company is a nonprofit organization based in Colchester, Vermont, at 463 Mountain View Drive 301. Their primary focus is providing property and casualty, student, and employee benefits insurance coverages to administrators of faith-inspired higher education institutions. Through their partnership with Educational & Institutional Insurance Administrators, Inc. (EIIA), they offer various insurance solutions to the participating institutions. College Insurance Company aims to protect and support these educational institutions with comprehensive and tailored insurance offerings.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90% (Four-Star out of Four Star rating from Charity Navigator)
College Insurance Company has achieved a 90% score, reflecting strong performance in accountability and finance, which is crucial for donor trust and organizational transparency. The rating is based solely on the accountability and finance beacon, indicating a focused assessment on these factors. The organization’s commitment to maintaining an independent board is evident, with 95% of board members being independent.
Financial practices are robust, as demonstrated by a high program expense ratio of 88.55%, suggesting that a significant portion of funds is directed towards mission-related activities. Additionally, the absence of material diversion of assets highlights effective governance. Policies such as conflict of interest and whistleblower protections are in place, ensuring ethical operations.
However, the liabilities to assets ratio of 55.33% suggests that while the organization is managing its finances well, there may be room for improvement in balancing debts with assets. Overall, the College Insurance Company showcases a solid financial foundation and governance structure, making it a reliable choice for donors.
This AI summary has been generated from information found on Charity Navigator.
Is College Insurance Company legitimate?
College Insurance Company is a legitimate nonprofit organization registered as a 501(c)(3) entity. College Insurance Company 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
For more financial information, click here
What is the mission statement of College Insurance Company?
The College Insurance Company focuses on providing insurance coverage to administrators of faith-inspired higher education institutions, as well as to these institutions themselves. This encompasses property and casualty insurance, student insurance, and employee benefits insurance. The company's mission is to cater to the insurance needs of Educational & Institutional Insurance Administrators, Inc. (EIIA), and its affiliated higher education institutions.
Who is the CEO of College Insurance Company?
Stephen L Garwood is the President/Chair (From Jun'22) of College Insurance Company.
What is the revenue of College Insurance Company?
College Insurance Company's revenue in 2022 was $21,753,350.
Who are the executives of College Insurance Company and what are their salaries?
There 23 volunteers at College Insurance Company.
Here are 29 key members and their salaries:
- Compensation: $0
- Related: $349,990
- Other: $28,072
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $375,046
- Other: $101,113
- Compensation: $0
- Related: $355,761
- Other: $69,605
- Compensation: $0
- Related: $270,727
- Other: $86,042
- Compensation: $0
- Related: $182,423
- Other: $72,516
- Compensation: $0
- Related: $114,637
- Other: $25,241
Where can I find the form 990 for College Insurance Company?
College Insurance Company's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of College Insurance Company
College Insurance Company, a leading provider in the education sector, is dedicated to offering property and casualty, student, and employee benefits insurances to administrators of faith-inspired higher education institutions, as well as the institutions themselves, through Educational & Institutional Insurance Administrators, Inc. (EIIA). The organization's mission is to safeguard these institutions and their stakeholders from various risks by providing tailored insurance solutions that cater specifically to their unique needs. By doing so, College Insurance Company enables these faith-inspired institutions to focus on their primary goals: educating future generations.
In a world where unforeseen accidents and potential liabilities can pose significant threats to educational institutions, College Insurance Company steps in as a trusted partner. The company's property and casualty insurance protects institutions against damage to their grounds, facilities, and assets, ensuring peace of mind for administrators and faculty. Furthermore, the student insurance coverage ensures that the students under the institution's care are shielded from various health and personal risks, allowing them to focus on their academic pursuits. Lastly, the employee benefits insurance safeguards the institution's workforce, offering protection for their wages, health, and retirement, fostering a confident and dedicated work environment.
College Insurance Company's commitment to the education sector goes beyond just offering insurance coverage. By working closely with EIIA and its participating higher education institutions, the organization provides a valuable service that not only safeguards their physical and financial assets but also enables them to focus on their primary mission: providing quality education to future generations.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
College Insurance Company plays a vital role in supporting faith-inspired higher education institutions by providing essential property and casualty insurance, student insurance, and employee benefits coverage. Located in Colchester, Vermont, the company serves educational and institutional insurance administrators, ensuring that its participating institutions have the financial protection necessary to operate effectively and focus on their missions.
By offering specialized insurance products tailored to the unique needs of faith-based institutions, College Insurance Company enhances the stability and security of these organizations. This support helps them to manage risks associated with property damage, liability, and the welfare of students and employees, ultimately contributing to a safer and more nurturing educational environment.
Moreover, the impact extends beyond mere financial coverage; it fosters a sense of community among institutions that share similar values and missions. By pooling resources and sharing best practices, these institutions can navigate challenges more effectively and ensure a high standard of care for their students and staff. Thus, College Insurance Company not only safeguards assets but also reinforces the overall mission and integrity of faith-inspired education.
This information is meant to be a general summary of College Insurance Company. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,444,072
- Program Service Revenue: $20,309,278
- Gross Receipts: $32,936,581
Assets and Liabilities:
- Total Assets: $78,084,443
- Total Liabilities: $43,204,991
- Net Assets: $34,879,452
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PREMIUMS EARNED
Revenue
$20,309,278
Organization Details
Founding Year
2002
Phone
(802) 864-5599Principal Officer
Stephen L Garwood
Main Address
463 MOUNTAIN VIEW DRIVE 301, COLCHESTER, VT, 05446
NTEE Category
Code: Y200 - Mutual benefit
If you are a representative of College Insurance Company and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.