COLLEGE INSURANCE COMPANY

EIN: 020630294 501(c)(3) Mutual Benefit

COLCHESTER, VT

Total Revenue
$36,291,433
Total Expenses
$34,894,035
Total Assets
$88,107,064
Net Assets
$37,508,008
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2002
Legal Domicile
VT
Principal Officer
STEPHEN L GARWOOD
Phone
8028645599
Tax Period
2024-01-01 to 2024-12-31

COLLEGE INSURANCE COMPANY, founded in 2002, is a mid-sized nonprofit in the Mutual Benefit sector that reported $36.3M in total revenue in fiscal year 2024. Revenue surged 63% from the prior year, signaling strong growth momentum. Expenses of $34.9M left a modest 4% surplus.

Mission

PROVIDES PROPERTY AND CASUALTY, STUDENT, AND EMPLOYEE BENEFIT COVERAGES TO FAITH INSPIRED HIGHER EDUCATION INSTITUTIONS

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $32,748,063
Investment Income $3,543,370
Other Revenue $0
TOTAL REVENUE $36,291,433

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $32,293,768
Other Expenses $5,078,544
TOTAL EXPENSES $34,894,035

Year-over-Year Comparison

2024 2023 Change
Revenue $36,291,433 $22,234,767 +0.6%
Expenses $34,894,035 $22,700,969 +0.5%
Net Income $1,397,398 $-466,202 -4.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
22
Independent Members
21
Employees
N/A
Volunteers
23

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$2,386,736
Total Directors
24
$788,506
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MR DAVID DIETZ PRESIDENT/CHAIR 2.00
Officer Director
$0 $147,167 $788,506
MR KIRK ANDERSON DIRECTOR 0.50
Director
$0 $0 $0
MR JEFF ARNOLD DIRECTOR 0.50
Director
$0 $0 $0
DR MARK BENEDETTO DIRECTOR 0.50
Director
$0 $0 $0
MS BELINDA BURKE DIRECTOR 0.50
Director
$0 $0 $0
DR JOHN COMERFORD DIRECTOR 0.50
Director
$0 $0 $0
MR JOHN FLYNN DIRECTOR 0.50
Director
$0 $0 $0
MS ROCHELLE FORD DIRECTOR (TO JUL '24) 0.50
Director
$0 $0 $0
DR WESLEY FUGATE DIRECTOR 0.50
Director
$0 $0 $0
MS MEREDITH GREEN DIRECTOR 0.50
Director
$0 $0 $0
MS DEBORAH HALL DIRECTOR 0.50
Director
$0 $0 $0
DR SANDRA HARPER DIRECTOR 0.50
Director
$0 $0 $0
MS STEPHANIE HERSETH SANDLIN DIRECTOR 0.50
Director
$0 $0 $0
MR GERALD LADNER DIRECTOR 0.50
Director
$0 $0 $0
MR MICHAEL MAXEY DIRECTOR 0.50
Director
$0 $0 $0
MR DAVE PROVOST DIRECTOR 0.50
Director
$0 $0 $0
MS WILDA SEYMOUR DIRECTOR (TO MAR '24) 0.50
Director
$0 $0 $0
MR JEFFREY STRAITS DIRECTOR 0.50
Director
$0 $0 $0
DR TROY VANAKEN DIRECTOR 0.50
Director
$0 $0 $0
MS KAREN WARD DIRECTOR 0.50
Director
$0 $0 $0
REV LAMONT WELLS DIRECTOR 0.50
Director
$0 $0 $0
DR HAROLD WILDE DIRECTOR 0.50
Director
$0 $0 $0
MR CHRIS WOOD DIRECTOR 0.50
Director
$0 $0 $0
MR MICHAEL ZUCKERMAN DIRECTOR 0.50
Director
$0 $0 $0
MS MARY ELLEN MORIARTY VP/ASSISTANT SECRETARY 2.00
Officer
$0 $77,460 $477,678
MR STEPHEN L GARWOOD TREASURER/SECRETARY 2.00
Officer
$0 $95,522 $486,846
MR GREGORY LOGAN ASSISTANT SECRETARY 2.00
Officer
$0 $78,248 $351,095
MR DONALD J CENCULA JR ASSISTANT TREASURER 2.00
Officer
$0 $79,089 $282,611
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $36,291,433 $34,894,035 $88,107,064 $1,397,398
2023 $22,234,767 $22,700,969 $82,007,675 $-466,202
2022 $21,753,350 $23,562,094 $78,084,443 $-1,808,744
2021 $20,846,583 $18,703,103 $80,437,108 $2,143,480
2020 $21,436,710 $21,312,208 $74,904,314 $124,502
2019 $22,101,606 $21,992,561 $71,971,130 $109,045
2018 $22,185,288 $19,237,980 $65,626,355 $2,947,308
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