Overview
What is Rvc Insurance Company Inc?
Rvc Insurance Company Inc is a nonprofit organization that is a member of Catholic Health. Based in Rockville Centre, New York, they primarily provide excess professional liability, general liability (including terrorism coverage), and employers liability insurance coverage to certain Catholic health entities. Beginning in 2013, they started offering primary coverage for general liability, directors and officers liability, and employment practices liability to specific Catholic health entities. The organization's mission aligns with the Catholic Church's healing mission and the expression of mercy in Catholic healthcare. Rvc Insurance Company Inc values integrity, compassion, accountability, respect, and excellence in their work. They aim to act in accordance with Catholic moral teaching and values, serve the spiritual, physical, and emotional needs of their clients, take responsibility for their actions, honor the sanctity of life, and strive for the best possible outcomes.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Rvc Insurance Company Inc has received a Two-Star out of Four Star rating from Charity Navigator with a score of 64%. This rating suggests that while the organization is performing some functions adequately, there are significant areas needing enhancement, particularly in its governance and transparency metrics. The lack of an independent majority board and a small board size are notable weaknesses, indicating potential challenges in oversight.
On a positive note, Rvc has demonstrated strong financial accountability through an audit and oversight committee, and it has a solid score for its program expense ratio, highlighting its commitment to directing funds toward its mission. Additionally, the organization has adopted essential policies for conflict of interest, whistleblowing, and document retention, which reflect a level of operational integrity.
However, the organization faces critical limitations, particularly in transparency. The absence of its tax form on its website and a poor liability-to-assets ratio raise concerns regarding financial health and public accessibility of information. These factors contribute to a perception of reduced accountability that could impact donor trust and engagement.
This AI summary has been generated from information found on Charity Navigator.
Is Rvc Insurance Company Inc legitimate?
Rvc Insurance Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rvc Insurance Company Inc 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 Rvc Insurance Company Inc?
Rvc Insurance Company Inc is a part of Catholic Health, a collective dedicated to extending the healing mission and compassionate mercy of the Catholic Church within communities. The organization's mission is rooted in upholding integrity, compassion, accountability, respect, and excellence. Integrity is demonstrated through adherence to Catholic moral teachings and values. Compassion involves recognizing the suffering of patients and striving to alleviate their pain and address their spiritual, physical, and emotional needs. Accountability entails taking responsibility for actions and their consequences. Respect encompasses honoring the sanctity of life and the dignity of every person, and implementing Catholic Social Teaching principles in relationships and advocacy efforts. Lastly, excellence seeks to provide compassionate care that glorifies God and strives for the best possible outcomes.
Who is the CEO of Rvc Insurance Company Inc?
Patrick O'Shaughnessy Do is the Director of Rvc Insurance Company Inc.
What is the revenue of Rvc Insurance Company Inc?
Rvc Insurance Company Inc's revenue in 2022 was $25,848,334.
Who are the executives of Rvc Insurance Company Inc and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $2,439,713
- Other: $836,578
- Compensation: $0
- Related: $1,103,144
- Other: $308,072
- Compensation: $0
- Related: $805,216
- Other: $69,870
- Compensation: $0
- Related: $418,152
- Other: $38,861
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Rvc Insurance Company Inc?
Rvc Insurance Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Rvc Insurance Company Inc
Rvc Insurance Company Inc, a member of Catholic Health, strives to embody the healing mission and mercy of the Catholic Church in their communities. With a deep-rooted commitment to their values, they humbly join forces to bring the spiritual, physical, and emotional care of the Catholic Church to those in need.
Integrity forms the foundation of Rvc Insurance Company Inc's operations. They proudly uphold the truth of their Catholic moral teaching and values, ensuring they are who they claim to be and acting accordingly. Compassion is at the heart of their mission. They see the suffering Christ in their patients and strive to alleviate their suffering, addressing their spiritual, physical, and emotional needs. Accountability is a priority as they take responsibility for their actions and the consequences that follow.
Respect for the sanctity of life and the dignity of every person is a cornerstone principle for Rvc Insurance Company Inc. They honor these values in their relationships and advocacy, incorporating all the principles of Catholic Social Teaching. Excellence is their ultimate goal. In the compassionate service of their patients, they seek the glory of God and continually strive to do their best, whatever their role may be.
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Impact
October, 2024
Rvc Insurance Company Inc plays a vital role in supporting Catholic health entities by providing essential insurance coverage tailored to their specific needs. By offering excess professional liability, general liability—including terrorism coverage—and employers liability insurance, RVC strengthens the financial stability of these organizations, enabling them to focus on their mission of delivering compassionate care.
Since November 1, 2013, RVC has also expanded its offerings to include primary coverage for general liability, directors and officers liability, and employment practices liability. This comprehensive approach alleviates the burden of risk management, allowing these health care entities to prioritize their core mission: to express Christ's healing mission and the mission of mercy inherent in Catholic health care.
Rooted in values like integrity, compassion, accountability, respect, and excellence, Rvc Insurance Company Inc not only protects its partners from financial uncertainties but also embodies the ethical principles that guide Catholic health care. By aligning its operations with these values, RVC fosters a culture of respect for life and dignity while ensuring that patients receive the holistic support they need.
Overall, Rvc Insurance Company Inc significantly impacts the healthcare landscape by empowering Catholic health entities to deliver high-quality, mission-driven care to their communities without the continuous worry of liability risks.
This information is meant to be a general summary of Rvc Insurance Company Inc. 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: $1,097,850
- Program Service Revenue: $24,750,484
- Gross Receipts: $53,289,429
Assets and Liabilities:
- Total Assets: $324,172,253
- Total Liabilities: $226,494,128
- Net Assets: $97,678,125
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PREMIUMS EARNED
Revenue
$24,750,484
Organization Details
Founding Year
2004
Phone
(516) 705-3700Principal Officer
Patrick O'Shaughnessy Do
Main Address
992 NORTH VILLAGE AVENUE, ROCKVILLE CENTRE, NY, 11570
NTEE Category
Code: Y20 - Mutual benefit
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