Risk Acceptance Management Corporation

Organization Overview

Risk Acceptance Management Corporation is located in Winstonsalem, NC. The organization was established in 1989. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Risk Acceptance Management Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 01/2022, Risk Acceptance Management Corporation generated $4.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $44.4m during the year ending 01/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

RISK ACCEPTANCE MANAGEMENT CORPORATION ("RAMCO") IS A NOT-FOR-PROFIT ORGANIZATION WHICH PROVIDES CLAIMS-RELATED SERVICES, CLAIMS ADMINISTRATION AND CLAIMS RESERVE FUNDING FOR THE CITY OF WINSTON-SALEM.

Describe the Organization's Program Activity:

Part 3 - Line 4a

RISK ACCEPTANCE MANAGEMENT CORPORATION PROVIDES CERTAIN INSURANCE RELATED SERVICES AND ADMINISTERS CLAIMS AND RESERVE FUNDING ON BEHALF OF THE CITY OF WINSTON-SALEM, NORTH CAROLINA.


RISK ACCEPTANCE MANAGEMENT CORPORATION TRANSFERRED ALL OF ITS NET ASSETS TO THE CITY OF WINSTON-SALEM, NORTH CAROLINA AND DISSOLVED EFFECTIVE JANUARY 5, 2022.


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Board, Officers & Key Employees

Name (title)Compensation
William B Rowe
Vice-President/director
$0
Lisa M Saunders
President/director
$0
Kelly Latham
Secretary/treasurer
$0
Denise C Adams
Director
$0
Darin N Webster
Director
$0
Robert Clark
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$0
Investment income $534,051
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $3,714,003
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $4,248,054

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