Vmc Indemnity Company Inc

Organization Overview

Vmc Indemnity Company Inc is located in Burlington, VT. The organization was established in 2019. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vmc Indemnity Company Inc 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 09/2023, Vmc Indemnity Company Inc generated $19.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $10.8m during the year ending 09/2023. While expenses have increased by 7.9% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

SELF-INSURANCE OF PROFESSIONAL LIABILITY AND GENERAL LIABILITY RISKS EXCLUSIVE FOR UVMHN INC., ITS TAX-EXEMPT SUBSIDIARIES, AND THEIR EMPLOYED INDIVIDUALS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

VMC INDEMNITY COMPANY INC. ("VMCIC") PROVIDES ESSENTIAL INSURANCE COVERAGE EXCLUSIVELY TO THE UNIVERSITY OF VERMONT HEALTH NETWORK ("UVMHN"), A SECTION 501(C)(3) ORGANIZATION, AND ITS CONTROLLED TAX-EXEMPT AFFILIATES, ALL PURSUANT TO THE VERMONT CAPTIVE INSURANCE COMPANY STATUTE (8 V.S.A. SECTIONS 6001-6003). VMCIC FACILITATES SELF INSURANCE OF PROFESSIONAL LIABILITY AND GENERAL LIABILITY RISKS FOR ORGANIZATIONS AND EMPLOYED PROFESSIONALS WITHIN UVMHN AND PROVIDES STOP LOSS COVERAGE FOR CLAIMS EXCEEDING THE UVMHN SELF-INSURED EMPLOYEE BENEFIT PLAN.


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Board, Officers & Key Employees

Name (title)Compensation
Dr John Brumsted
Director & Chair (until 11/2022)
$0
Dr Sunil Eappen
Director & Chair (as Of 4/2023)
$0
Dr Howard M Schapiro
Director & President
$0
Dr Stephen M Leffler
Director & Vice President
$0
Holly Berteau
Director
$0
Richard Vincent
Director & Treasurer
$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$15,804,377
Investment income $3,068,047
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $812,029
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $19,684,453

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