Overview
What is Ruminco Ltd Co Regents Of The Univ Of Minnesota?
Ruminco Ltd Co Regents Of The Univ Of Minnesota is a captive insurance company, established as a subsidiary of the University of Minnesota under Bermudian laws. Its primary role is to manage and mitigate various risks for its parent organization, offering coverage such as commercial general liability, professional liability, non-profit organization liability, business auto liability, and excess automobile liability. The company operates with specific loss exposure limits, ensuring financial protection for the University of Minnesota on both a per occurrence and annual aggregate basis.
Is Ruminco Ltd Co Regents Of The Univ Of Minnesota legitimate?
Ruminco Ltd Co Regents Of The Univ Of Minnesota is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ruminco Ltd Co Regents Of The Univ Of Minnesota 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 Ruminco Ltd Co Regents Of The Univ Of Minnesota?
Ruminco Ltd Co Regents Of The Univ Of Minnesota, as a wholly-owned captive insurance company, primarily focuses its activities on insuring specific risks associated with its parent organization, the University of Minnesota. Its mission, in essence, is to provide a shield against potential liabilities and losses, thereby safeguarding the University's assets and operations. Ruminco's operations encompass various types of insurance coverage, including commercial general and professional liability, non-profit organization liability, business auto liability, and excess automobile liability. The company's insurance agreements establish limits to its potential financial exposure, safeguarding the University against substantial losses on a per occurrence and annual aggregate basis.
Who is the CEO of Ruminco Ltd Co Regents Of The Univ Of Minnesota?
Myron Frans is the Vice President of Ruminco Ltd Co Regents Of The Univ Of Minnesota.
What is the revenue of Ruminco Ltd Co Regents Of The Univ Of Minnesota?
Ruminco Ltd Co Regents Of The Univ Of Minnesota's revenue in 2022 was $7,052,376.
Who are the executives of Ruminco Ltd Co Regents Of The Univ Of Minnesota and what are their salaries?
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $817,998
- Other: $249,121
- Compensation: $0
- Related: $589,591
- Other: $284,574
- Compensation: $0
- Related: $373,041
- Other: $41,746
- Compensation: $0
- Related: $333,307
- Other: $61,754
- Compensation: $0
- Related: $216,786
- Other: $55,658
- Compensation: $0
- Related: $181,098
- Other: $42,375
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Ruminco Ltd Co Regents Of The Univ Of Minnesota?
Ruminco Ltd Co Regents Of The Univ Of Minnesota's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ruminco Ltd Co Regents Of The Univ Of Minnesota
Ruminco Ltd Co Regents Of The Univ Of Minnesota, as a wholly-owned captive insurance company, is primarily dedicated to insuring specific risks associated with its parent institution, the University of Minnesota. Established under Bermuda's laws, Ruminco's mission lies in safeguarding the University from potential financial losses incurred from various liabilities. The company's insurance agreements are structured to manage exposure to loss on a per-occurrence and annual aggregate basis. Coverages encompass a range of risks, such as commercial general and professional liability, non-profit organization liability, business auto liability, and excess automobile liability. By offering these insurance services, Ruminco Ltd Co Regents Of The Univ Of Minnesota plays a crucial role in protecting the University of Minnesota from potential financial liabilities, thereby ensuring the continuity and stability of its operations.
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Impact
October, 2024
Ruminco Ltd Co Regents Of The University of Minnesota serves a crucial role in managing the financial risks associated with the operations of the University of Minnesota. By functioning as a wholly-owned captive insurance company, Ruminco provides tailored insurance solutions that specifically address the diverse needs of the university. The principal activities of Ruminco include insuring various risks, such as commercial general and professional liability, nonprofit organization liability, and business auto liability.
This specialized risk management approach not only helps to contain costs for the university but also enhances its ability to focus on its core educational mission without overexposure to unpredictable liabilities. By limiting exposure to losses on a per occurrence and annual aggregate basis, Ruminco ensures that the university can maintain its operational integrity and sustain its programs effectively. Overall, Ruminco's impact is significant in fostering a secure environment where the University of Minnesota can thrive and focus on its primary objectives of education, research, and community service.
This information is meant to be a general summary of Ruminco Ltd Co Regents Of The Univ Of Minnesota. 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: $976,359
- Program Service Revenue: $6,076,017
- Gross Receipts: $29,059,205
Assets and Liabilities:
- Total Assets: $62,223,712
- Total Liabilities: $5,583,345
- Net Assets: $56,640,367
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Captive Insurance Premium
Revenue
$6,076,017
Organization Details
Founding Year
1977
Phone
(612) 624-1053Principal Officer
Myron Frans
Main Address
2221 University Avenue SE Ste 100, Minneapolis, MN, 55414
NTEE Category
Code: Y20 - Mutual benefit
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