Ruminco Ltd

Organization Overview

Ruminco Ltd is located in Minneapolis, MN. The organization was established in 1991. According to its NTEE Classification (S50) the organization is classified as: Nonprofit Management, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ruminco Ltd 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 06/2022, Ruminco Ltd generated $7.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $6.0m during the year ending 06/2022. While expenses have increased by 12.5% per year over the past 7 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

2022

Describe the Organization's Mission:

Part 3 - Line 1

RUMINCO IS A WHOLLY-OWNED CAPTIVE INSURANCE COMPANY WHOSE PRINCIPAL ACTIVITIES ARE THE INSURANCE OF CERTAIN RISKS TO THE UNIVERSITY OF MINNESOTA.

Describe the Organization's Program Activity:

Part 3 - Line 4a

RUMINCO IS INCORPORATED UNDER THE LAWS OF BERMUDA AND IS A WHOLLY-OWNED SUBSIDIARY OF THE UNIVERSITY OF MINNESOTA. RUMINCO'S PRINCIPAL ACTIVITIES ARE THE INSURANCE OF CERTAIN RISKS OF ITS PARENT. VARIOUS COVERAGES INCLUDE COMMERCIAL GENERAL AND PROFESSIONAL LIABILITY, NON-PROFIT ORGANIZATION LIABILITY, BUSINESS AUTO LIABILITY AND EXCESS AUTOMOBILE LIABILITY. RUMINCO'S INSURANCE AGREEMENTS LIMIT ITS EXPOSURE TO LOSS ON A PER OCCURRENCE AND ANNUAL AGGREGATE BASIS.


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Board, Officers & Key Employees

Name (title)Compensation
Stuart H Mason
Treasurer
$0
Myron Frans
Vice President
$0
Christopher Garrod
Chairman
$0
Joan Ta Gabel
Director
$0
Douglas R Peterson
Director
$0
Robert Eastham
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$6,076,017
Investment income $704,017
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $272,342
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $7,052,376

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Ruminco Ltd has recieved totaling $10,000.

Awarding OrganizationAmount
Foundation For Appalachian Ohio

Nelsonville, OH

PURPOSE: GENERAL SUPPORT

$10,000
View Grant Recipient Profile

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