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Rubicon Insurance Company

EIN 36-3694409 · Evanston, IL

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair52 out of 100GovernanceGood75 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

RUBICON PROVIDES PROFESSIONAL LIABILITY, EXECUTIVE, CYBER, PROPERTY, GENERAL, AND AUTOMOBILE LIABILITY INSURANCE TO NORTHWESTERN UNIVERSITY AND ITS TAX EXEMPT AFFILIATES, TO ENSURE THE AVAILABILITY OF COVERAGE AND PROVIDE ACCESS TO REINSURANCE MARKETS.

Income
$8.3 million
Spending
$13.5 million
Spent on programs
98%
Reserves
3.6 months of spending
Largest source of income
fees for its services, 68%
Employees
0
Volunteers
0
Highest pay
$1.4 million, director

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 52 out of 100. Higher than 17% of charities in its peer group (mutual benefit, $1m to $10m).

  • Reserves

    20 of 35

    Spendable reserves would cover 3.6 months of spending.

  • Debt

    2 of 20

    It owes 91% of what it owns.

  • Living within its means

    0 of 15

    Spending exceeded income by 63% of income.

  • Income trend

    15 of 15

    Income rose 72% on the year before.

  • Spending floor

    15 of 15

    98% of spending went to programs.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 75 out of 100. Higher than 38% of charities in its peer group (mutual benefit, $1m to $10m).

  • Independent board

    5 of 25

    0 of 4 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $13.3 million spent. RUBICON PROVIDES PRIMARY GENERAL, PROFESSIONAL, AUTOMOBILE AND PHYSICAL DAMAGE,CYBER, PROPERTY, AND EDUCATOR'S LEGAL LIABILITY INSURANCE TO NORTHWESTERN UNIVERSITY AND ITS TAX EXEMPT AFFILIATES.RUBICON ALSO PROVIDES HIGH EXCESS GENERAL PROFESSIONAL,AUTOMOBILE,CYBER, AND EDUCATOR'S LEGAL LIABILITY INSURANCE ON AN INTEGRATED BASIS AND CEDES 100 PERCENT OF THE RISK UNDERTAKEN TO A COMMERCIAL REINSURANCE CARRIER.THE PURPOSE OF PLACING THESE RISKS OF NORTHWESTERN UNIVERSITY AND ITS TAX EXEMPT AFFILIATES WITH RUBICON IS TO REDUCE COSTS,ENSURE THE AVAILABILITY OF COVERAGE AND PROVIDE ACCESS TO REINSURANCE MARKETS.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since June 1991.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.