Civic Intelligence

First Medical Insurance Company (Rrg)

EIN 01-0719207 • 501(c)3 • Colchester, VT

Profile

The organization provides insurance for the children's hospital of philadelphia and certain affiliated tax-exempt organizations.

463 Mountain View Dr STE 301Colchester, VT 05446

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

78th percentile

0.67x

Higher debt load relative to assets than 78% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

87th percentile

2.81x

Higher debt load relative to revenue than 87% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

77th percentile

20%

Higher net margin than 77% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

53rd percentile

$513,446

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

42nd percentile

4.1%

Faster asset growth than 42% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

78th percentile

25%

Faster revenue growth than 78% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$110,531,038

Up $4,391,022 (+4.1%) from 2023

Liabilities

Up

$74,497,356

Up $4,919,623 (+7.1%) from 2023

Net Assets

Down

$36,033,682

Down $528,601 (-1.4%) from 2023

Revenue

Up

$26,542,371

Up $5,377,666 (+25%) from 2023

Expenses

Up

$21,158,206

Up $8,509,107 (+67%) from 2023

Net Income

Down

$5,384,165

Down $3,131,441 (-37%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2010: $102,234,652Liabilities 2010: $50,549,403Net Assets 2010: $51,685,2492010Assets 2011: $113,182,074Liabilities 2011: $47,559,876Net Assets 2011: $65,622,1982011Assets 2012: $110,536,071Liabilities 2012: $45,878,817Net Assets 2012: $64,657,2542012Assets 2013: $120,918,146Liabilities 2013: $64,390,578Net Assets 2013: $56,527,5682013Assets 2014: $101,935,720Liabilities 2014: $42,107,221Net Assets 2014: $59,828,4992014Assets 2015: $106,862,148Liabilities 2015: $43,372,387Net Assets 2015: $63,489,7612015Assets 2016: $97,164,855Liabilities 2016: $46,996,493Net Assets 2016: $50,168,3622016Assets 2017: $114,057,097Liabilities 2017: $57,378,583Net Assets 2017: $56,678,5142017Assets 2018: $90,171,920Liabilities 2018: $54,818,917Net Assets 2018: $35,353,0032018Assets 2019: $98,620,862Liabilities 2019: $49,267,955Net Assets 2019: $49,352,9072019Assets 2020: $94,675,337Liabilities 2020: $55,504,910Net Assets 2020: $39,170,4272020Assets 2021: $102,134,145Liabilities 2021: $62,331,823Net Assets 2021: $39,802,3222021Assets 2022: $92,427,299Liabilities 2022: $66,066,483Net Assets 2022: $26,360,8162022Assets 2023: $106,140,016Liabilities 2023: $69,577,733Net Assets 2023: $36,562,2832023Assets 2024: $110,531,038Liabilities 2024: $74,497,356Net Assets 2024: $36,033,6822024

Highlighted filing

2024

Assets$110,531,038
Liabilities$74,497,356
Net Assets$36,033,682

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0Expenses 2010: $4,865,9022010Expenses 2011: $5,288,5602011Expenses 2012: $5,885,6822012Revenue 2013: $16,014,594Expenses 2013: $7,507,826Net Income 2013: $8,506,7682013Revenue 2014: $16,244,973Expenses 2014: $6,435,651Net Income 2014: $9,809,3222014Revenue 2015: $13,568,493Expenses 2015: $6,925,186Net Income 2015: $6,643,3072015Revenue 2016: $14,624,814Expenses 2016: $11,502,987Net Income 2016: $3,121,8272016Revenue 2017: $14,491,583Expenses 2017: $11,219,740Net Income 2017: $3,271,8432017Revenue 2018: $15,871,406Expenses 2018: $10,504,169Net Income 2018: $5,367,2372018Revenue 2019: $16,348,817Expenses 2019: $8,555,230Net Income 2019: $7,793,5872019Revenue 2020: $20,919,271Expenses 2020: $12,440,751Net Income 2020: $8,478,5202020Revenue 2021: $15,354,853Expenses 2021: $14,722,958Net Income 2021: $631,8952021Revenue 2022: $18,702,381Expenses 2022: $14,078,595Net Income 2022: $4,623,7862022Revenue 2023: $21,164,705Expenses 2023: $12,649,099Net Income 2023: $8,515,6062023Revenue 2024: $26,542,371Expenses 2024: $21,158,206Net Income 2024: $5,384,1652024

Highlighted filing

2024

Revenue$26,542,371
Expenses$21,158,206
Net Income$5,384,165

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$111$74.5$36.0$26.5$21.2$5.38
2023Detailed filing. Detailed filing data is available for this year.$106$69.6$36.6$21.2$12.6$8.52
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$92.4$66.1$26.4$18.7$14.1$4.62
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$102$62.3$39.8$15.4$14.7$0.63
2020Detailed filing. Detailed filing data is available for this year.$94.7$55.5$39.2$20.9$12.4$8.48
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$98.6$49.3$49.4$16.3$8.56$7.79
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$90.2$54.8$35.4$15.9$10.5$5.37
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$114$57.4$56.7$14.5$11.2$3.27
2016Detailed filing. Detailed filing data is available for this year.$97.2$47.0$50.2$14.6$11.5$3.12
2015Detailed filing. Detailed filing data is available for this year.$107$43.4$63.5$13.6$6.93$6.64
2014Detailed filing. Detailed filing data is available for this year.$102$42.1$59.8$16.2$6.44$9.81
2013Detailed filing. Detailed filing data is available for this year.$121$64.4$56.5$16.0$7.51$8.51
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$111$45.9$64.7$5.89
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$113$47.6$65.6$5.29
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$102$50.5$51.7$4.87
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$84,868,875
Mission and Program Overview

Mission

The organization provides insurance for the children's hospital of philadelphia and certain affiliated tax-exempt organizations.

The organization provides insurance for the children's hospital of philadelphia and certain affiliated tax -exempt organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$45,589,924$50,562,620▲ $4,972,696
Investments Other Securities$52,474,123$47,908,051▼ $4,566,072
Rtn Earn Endowment Incm Other Fnds$31,411,767$30,883,166▼ $528,601
Cash and Non-Interest-Bearing Accounts$5,391,474$5,377,968▼ $13,506
Pd in Cap Srpls Land Bldg Eqp Fund$5,150,516$5,150,516→ $0
Accounts Receivable$0$2,464,320▲ $2,464,320
Prepaid Expenses and Deferred Charges$2,062,578$2,318,725▲ $256,147
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$106,140,016$110,531,038▲ $4,391,022
Other Assets Total$621,917$1,899,354▲ $1,277,437
Liabilities
Other Liabilities$69,135,168$73,956,638▲ $4,821,470
Accounts Payable and Accrued Expenses$442,565$540,718▲ $98,153
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$69,577,733$74,497,356▲ $4,919,623
Net Assets / Fund Balance
Total Net Assets Fund Balance$36,562,283$36,033,682▼ $528,601
Total Liabilities and Net Assets / Fund Balance$106,140,016$110,531,038▲ $4,391,022

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$23,135,706--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michael CorboFormer President & Treasurer
Marlena FergusonPresident,& Treasurer
Aaron CiulloAssistant Treasurer
James AvingtonSecretary
Thomas HaydenSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
White WilliamsLegal ServicesONE LIBERTY PL 1650 MARKET ST STE, Philadelphia, PA 19103$3,086,034
Post SchellLegal ServicesFOUR PENN CENTER 1600 JFK BLVD, Philadelphia, PA 19103$576,685
Burns White LLCLegal Services457 HADDONFIELD ROAD 510, Chery Hill, NJ 08002$443,855
MarshalldenneheywarnercolemangLegal Services2000 MARKET ST SUITE 2300, Philadelphia, PA 19103$379,072
Insight North AmericaInvestment Services200 PARK AVENUE 7TH FLOOR, New York, NY 10166$242,944
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$15,902,254
Investment Income
$10,640,117
Other Revenue
$0
Change in Net Assets
$5,384,165

Audited Revenue Reconciliation

Revenue per Audited Statements
$26,317,204
Revenue Not Reported on Financial Statements
$225,167
Revenue Not Reported on Form 990
$-5,912,767
Total Revenue per Audited Statements
$20,404,437
Total Revenue per Form 990
$26,542,371
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$21,158,206
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$225,167-$225,167
Fees for Services Management-$113,779-$113,779
Fees for Services Other-$87,241-$87,241
Fees for Services Accounting-$49,197-$49,197
Other Expenses$46,062$1,292-$47,354
Fees for Services Legal-$6,957-$6,957
Total Functional Expenses$20,674,573$483,633$0$21,158,206

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$21,158,206
Expenses per Audited Statements$20,933,039
Total Expenses per Audited Statements$20,933,039
Expenses Not Reported on Financial Statements$225,167
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loss Adjustment Expenses$57,245,699
Unearned Premium Reserves$10,185,566
Losses Payable$4,125,373
Reinsurance Premuim Payable$2,400,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Lines 6

The following organizations are members of first medical insurance company (rrg): - the children's hospital of philadelphia - the children's hospital of philadelphia foundation - the children's hospital of philadelphia practice association - children"s hospital of philadelhia clinical associates, inc. - children's anesthesiology associates, ltd. - children's anesthesiology associates of new jersey - children's health care associates, inc. - children's health care associates of new jersey, inc. - children's surgical associates, ltd. - children's surgical associates of new jersey, inc. - radiology associates of the children's hospital, inc. - children's radiology associates of new jersey, p.c.

Form 990, Part VI, Section A, Line 7B

Under fmic's bylaws, members have the authority to elect or remove the directors.

Form 990, Part VI, Section B, Line 11B

Fmic receives audited financial statements. A public accounting firm prepares the form 990 based on these financial statements as well as other information gathered. Once prepared, the form 990 was reviewed by the finance office of chop as well as the directors and board members of fmic prior to filing.

Form 990, Part VI, Section B, Line 12B

All officers, directors of fmic are required to complete an annual conflict of interest disclosure form.

Form 990, Part VI, Section B, Line 12C

Fmic has a conflicts of interest policy. That policy applies by its terms to the directors and officers of fmic who are employees of the children's hospital of philadelphia; by virtue of its adoption by fmic, the policy also applies to the directors and officers of fmic who are not employees of the children's hospital of philadelphia, with respect to their duties regarding fmic. (fmic does not have any employees.) pursuant to the policy, annual conflicts of interest statements are completed by all covered persons, including all directors and officers of fmic. The statements are reviewd by fmic board for further review and follow-up as needed.

Form 990, Part VI, Section C, Line 19

Form 990, financial statements, and the conflcits of interest policy are available upon request.

Filing and Contact Details

Filer

Filer Name
First Medical Insurance Company (rrg)
EIN
01-0719207
In Care Of
% MARSH MANAGEMENT SERVICES I
Phone
8028645599
Address
463 Mountain View Dr STE 301, Colchester, VT 05446

Signing Officer

Name
Marlena Ferguson
Title
Dir., Pres. & Treas.
Phone
2155901000
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marlena Ferguson
Formed
2002
Legal Domicile
Vt
Voting Board Members
4
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Pwc US Tax Llp
Address
2001 MARKET ST SUITE 1800, PHILADELPHIA, PA 19103
Preparer
Erica R Mcreynolds
Phone
2673303000
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2

FIN 48 FOOTNOTE FMIC has received exemption from federal income taxes on related income under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for federal income taxes has been recorded on the accompanying financial statements. FMIC does not believe it has taken any uncertain tax positions that would jeopardize its federal income tax exempt status.

Raw XML AppendixShowing 400 of 869 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0FMIC PROVIDES INSURANCE TO THE CHILDREN'S HOSPITAL OF PHILADELPHIA ("CHOP") AND CERTAIN AFFILIATED TAX-EXEMPT ORGANIZATIONS. CHOP IS THE ONLY NAMED ENTITY IN FMIC'S ARTICLES OF INCORPORATION AND BYLAWS. PROFESSIONAL LIABILITY INSURANCE IS PROVIDED TO CHOP AFFILIATES WHO REQUIRE SUCH INSURANCE, SUCH AS PHYSICIAN PRACTICE PLANS. THESE PHYSICIAN PRACTICE PLANS ARE UNDER THE COMMON CONTROL OF CHOP. GENERAL LIABILITY INSURANCE IS PROVIDED TO CERTAIN CHOP CONTROLLED AFFILIATES. A SUPPORTED ORGANIZATION IS DESIGNATED BY ITS STATUS AS A CONTROLLED AFFILIATE OF CHOP. THE ORGANIZATIONS CURRENTLY SUPPORTED HAVE BEEN SUPPORTED FROM THE TIME FMIC WAS FORMED, OR FROM THE TIME SUCH OTHER ORGANIZATIONS WERE FORMED, AND ARE EXPECTED TO CONTINUE TO BE SUPPORTED SO LONG AS THEY REMAIN CHOP CONTROLLED AFFILIATES.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1TWO OF THE SUPPORTED ORGANIZATIONS THE CHILDREN'S HOSPITAL OF PHILADELPHIA PRACTICE ASSOCIATION AND CHOP CLINICAL ASSOCIATES INC. HAVE AN IRS DETERMINATION STATUS UNDER 509(A)(3). BOTH OF THESE ORGANIZATIONS, HOWEVER, MEET THE SUPPORT TEST REQUIRED UNDER 509(A)(2) AS MOST, IF NOT ALL, OF THEIR REVENUE IS PROGRAM SERVICE REVENUE.
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