Civic Intelligence

Rubicon Insurance Company

990 • Fiscal year 2016 • EIN 36-3694409

Jan 01, 2016 to Dec 31, 2016 • Filed on Sep 05, 2017

Organization ProfileN/A
2020 Ridge AvenueEvanston, IL 60208-4335

(847) 491-7696

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

70th percentile

0.47x

Higher debt load relative to assets than 70% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

93rd percentile

3.95x

Higher debt load relative to revenue than 93% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

5th percentile

-62%

Higher net margin than 5% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

97th percentile

$1,159,354

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 42.1% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

64th percentile

5.6%

Faster asset growth than 64% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

63rd percentile

7.7%

Faster revenue growth than 63% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$23,255,910

Up $1,235,229 (+5.6%) from 2015

Net Assets

Up

$12,370,465

Up $1,980,521 (+19%) from 2015

Liabilities

Down

$10,885,445

Down $745,292 (-6.4%) from 2015

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin5th percentile

Revenue

Up

$2,754,269

Up $198,080 (+7.7%) from 2015

Expenses

Up

$4,467,722

Up $1,142,933 (+34%) from 2015

Net Income

Down

-$1,713,453

Down $944,853 (-123%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth64th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2011: $50,331,571Liabilities 2011: $16,675,202Net Assets 2011: $33,656,3692011Assets 2012: $53,267,068Liabilities 2012: $16,957,284Net Assets 2012: $36,309,7842012Assets 2013: $46,253,585Liabilities 2013: $12,400,452Net Assets 2013: $33,853,1332013Assets 2014: $23,019,922Liabilities 2014: $10,591,184Net Assets 2014: $12,428,7382014Assets 2015: $22,020,681Liabilities 2015: $11,630,737Net Assets 2015: $10,389,9442015Assets 2016: $23,255,910Liabilities 2016: $10,885,445Net Assets 2016: $12,370,4652016Assets 2017: $32,226,695Liabilities 2017: $10,454,118Net Assets 2017: $21,772,5772017Assets 2018: $31,610,894Liabilities 2018: $11,410,658Net Assets 2018: $20,200,2362018Assets 2019: $31,354,326Liabilities 2019: $12,373,922Net Assets 2019: $18,980,4042019Assets 2021: $37,465,176Liabilities 2021: $16,225,559Net Assets 2021: $21,239,6172021Assets 2022: $31,706,962Liabilities 2022: $18,112,027Net Assets 2022: $13,594,9352022Assets 2024: $45,823,524Liabilities 2024: $41,742,254Net Assets 2024: $4,081,2702024

Highlighted filing

2016

Assets$23,255,910
Liabilities$10,885,445
Net Assets$12,370,465
Open 2016 Filing

Operations Trend

Revenue Growth63rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0-$10M-$20MExpenses 2011: -$2,125,0582011Expenses 2012: $3,616,8512012Revenue 2013: $6,042,586Expenses 2013: $8,169,358Net Income 2013: -$2,126,7722013Revenue 2014: $8,445,528Expenses 2014: $23,902,748Net Income 2014: -$15,457,2202014Revenue 2015: $2,556,189Expenses 2015: $3,324,789Net Income 2015: -$768,6002015Revenue 2016: $2,754,269Expenses 2016: $4,467,722Net Income 2016: -$1,713,4532016Revenue 2017: $4,970,878Expenses 2017: $4,429,507Net Income 2017: $541,3712017Revenue 2018: $4,166,115Expenses 2018: $3,070,916Net Income 2018: $1,095,1992018Revenue 2019: $3,296,016Expenses 2019: $4,789,464Net Income 2019: -$1,493,4482019Revenue 2021: $3,987,291Expenses 2021: $6,927,002Net Income 2021: -$2,939,7112021Revenue 2022: $4,055,959Expenses 2022: $7,630,962Net Income 2022: -$3,575,0032022Revenue 2024: $8,266,735Expenses 2024: $13,508,691Net Income 2024: -$5,241,9562024

Highlighted filing

2016

Revenue$2,754,269
Expenses$4,467,722
Net Income-$1,713,453
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Sep 5, 2017
Return Version
2016v3.0
Gross Receipts
$2,754,269
Mission and Program Overview

Mission

Rubicon provides professional liability, executive, cyber, property, general, and automobile liability insurance to northwestern university and its tax erxempt affiliates, to ensure the availability of coverage and provide access to reinsurance markets.

Rubicon provides medical malpractice, executive, cyber, property, general and automobile liabilty insurance to Northwestern University and its tax exempt subsidiaries, to ensure the availability of coverage at a reasonable cost, and provide access to insurance market.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$17,461,899$21,230,910▲ $3,769,011
Rtn Earn Endowment Incm Other Fnds$8,358,514$10,339,035▲ $1,980,521
Accounts Receivable$2,533,731--
Other Notes and Loans Receivable, Net$1,600,000$1,600,000→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$1,031,430$1,031,430→ $0
Cap Stk Tr Prin Current Funds$1,000,000$1,000,000→ $0
Cash and Non-Interest-Bearing Accounts$425,051$425,000▼ $51
Total Assets$22,020,681$23,255,910▲ $1,235,229
Liabilities
Other Liabilities$11,353,632$10,548,651▼ $804,981
Accounts Payable and Accrued Expenses$277,105$336,794▲ $59,689
Total Liabilities$11,630,737$10,885,445▼ $745,292
Net Assets / Fund Balance
Total Net Assets Fund Balance$10,389,944$12,370,465▲ $1,980,521
Total Liabilities and Net Assets / Fund Balance$22,020,681$23,255,910▲ $1,235,229
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleOtherTotal
Nim ChinniahPresident$1,159,354$1,159,354
Philip HarrisDirector$951,949$951,949
Craig JohnsonDirector$691,483$691,483
James M HurleyVice President$446,423$446,423
Ingrid S StaffordTreasurer$377,401$377,401
Steven GreenDirector$237,205$237,205

Board Members and Trustees

NameTitle
Craig Johnson-
Ingrid S Stafford-
James M Hurley-
Nim Chinniah-
Philip Harris-
Steven Green-

Highest Paid Contractors

ContractorServicesLocationCompensation
Sidley & AustinLegalOne South Dearborn, Chicago, IL 60603$840,963
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,754,269
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-1,713,453

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,754,269
Total Revenue per Audited Statements
$2,754,269
Total Revenue per Form 990
$2,754,269
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,467,722
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,467,722
Total Expenses per Audited Statements$4,467,722
Total Expenses per Form 990$4,467,722
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Insurance Reserve$10,548,651
Other Liabilities - Student Health Fund-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Rubicon Insurance Company
EIN
36-3694409
Phone
8474917696
Address
2020 Ridge Avenue, Evanston, IL 60208-4335

Signing Officer

Name
Luke Figora
Title
Assistant VP, Risk Mgmt and Safety
Phone
8474917696
Signed
2017-09-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Luke Figora
Formed
1990
Legal Domicile
Il
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
Wong & Knowles CPA Pc
Address
340 W BUTTERFIELD STE 3C, ELMHURST, IL 60126-5043
Preparer
James M Wong
Phone
6309932223
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The Assistant Vice President for Risk Management and Environmental Health and Safety, Vice President of Finance, Controller and Board members reviewed and approved the form 990 before Rubicon files with the IRS.”

Pt VI, Line 12C

“A designated official of Northwestern University reviews and identifies any conflict of interest disclosed annually.”

Pt VI, Line 19

“As a subsidiary of Northwestern University, Rubicon follows the conflict of interest policy of the University, and this policy is posted online. The financial statements of Northwestern University which includes the financial statements of Rubicon Insurance Company are also posted online. The governing documents are available to the public upon request.”

Pt XI

“With approval from Illinois Department of Insurance, Rubicon reclassified Student Health Fund from Other Liabilities to Surplus/Net Assets in 2016.”

Other

“NMFF, one of the supported organizations, reorganized and assumed the name Northwestern Medical Group”

Other

“Part VI line 13 and 14 - As a subsidiary of Northwestern University, Rubicon follows the whistleblower and document retention policies of the University and adopted by the Board”

Form 990EZ, Part II, Line 24

“Other Receivables”

Form 990EZ, Part II, Line 24

“Investments”

Form 990EZ, Part II, Line 26

“Accounts Payable & Accrued Expenses”

Raw XML AppendixShowing 400 of 473 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/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt1Northwestern Medical Group
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CRAIG JOHNSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1STEVEN GREEN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2PHILIP HARRIS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3NIM CHINNIAH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm4JAMES M HURLEY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm5INGRID S STAFFORD
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0Nim Chinniah - $150,000
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt I Line 4b
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Assistant Vice President for Risk Management and Environmental Health and Safety, Vice President of Finance, Controller and Board members reviewed and approved the form 990 before Rubicon files with the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A designated official of Northwestern University reviews and identifies any conflict of interest disclosed annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2As a subsidiary of Northwestern University, Rubicon follows the conflict of interest policy of the University, and this policy is posted online. The financial statements of Northwestern University which includes the financial statements of Rubicon Insurance Company are also posted online. The governing documents are available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3With approval from Illinois Department of Insurance, Rubicon reclassified Student Health Fund from Other Liabilities to Surplus/Net Assets in 2016.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NMFF, one of the supported organizations, reorganized and assumed the name Northwestern Medical Group
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Part VI line 13 and 14 - As a subsidiary of Northwestern University, Rubicon follows the whistleblower and document retention policies of the University and adopted by the Board
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Other Receivables
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Investments
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Accounts Payable & Accrued Expenses
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Other
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990EZ, Part II, Line 24
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990EZ, Part II, Line 24
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990EZ, Part II, Line 26
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1Cash
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2Cash
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Northwestern University Insurance Claim Payments
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1Northwestern Medical Group Insurance Claim Payments
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2Northwestern University Insurance Premium
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$23,255,910
Liabilities
$10,885,445
Net assets
$12,370,465
Revenue
$2,754,269
Expenses
$4,467,722
Net income
-$1,713,453
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$45.8$41.7$4.08$8.27$13.5$5.24
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.7$18.1$13.6$4.06$7.63$3.58
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$37.5$16.2$21.2$3.99$6.93$2.94
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.4$12.4$19.0$3.30$4.79$1.49
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$31.6$11.4$20.2$4.17$3.07$1.10
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.2$10.5$21.8$4.97$4.43$0.54
2016Detailed filing. Detailed filing data is available for this year.$23.3$10.9$12.4$2.75$4.47$1.71
2015Detailed filing. Detailed filing data is available for this year.$22.0$11.6$10.4$2.56$3.32$0.77
2014Detailed filing. Detailed filing data is available for this year.$23.0$10.6$12.4$8.45$23.9$15.5
2013Detailed filing. Detailed filing data is available for this year.$46.3$12.4$33.9$6.04$8.17$2.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$53.3$17.0$36.3$3.62
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$50.3$16.7$33.7$2.13