Fiat Lux Risk and Insurance Company
1608 Rhode Island Ave NW, Washington, DC · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $842,304,486 | $705,421,567 | $870,778,485 |
| FY2024 | $621,291,221 | $642,776,906 | $562,993,018 |
| FY2023 | $538,359,834 | $386,766,449 | $465,649,887 |
| FY2022 | $917,692,875 | $887,029,207 | $276,182,020 |
| FY2021 | $443,747,119 | $352,589,201 | $409,166,031 |
| FY2020 | $440,203,686 | $407,127,291 | $186,219,373 |
| FY2019 | $300,568,597 | $259,253,879 | $192,318,258 |
| FY2018 | $250,090,404 | $283,860,880 | $121,381,824 |
| FY2017 | $226,566,420 | $367,756,507 | $10,562,137 |
| FY2016 | $28,935,343 | $45,952,256 | -$7,984,410 |
| FY2015 | $26,716,581 | $25,907,363 | $9,401,041 |
| FY2014 | $15,696,581 | $13,116,993 | $8,413,164 |
Form 990 filings
The returns filed by Fiat Lux Risk and Insurance Company (EIN 46-1828839), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $0 | 0% |
| Program service revenue | $795,623,311 | 94% |
| Other revenue | $46,681,175 | 6% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $704,033,830 | 100% |
| Management & general | $1,387,737 | <1% |
| Fundraising | $0 | 0% |
What the numbers show
- Program service revenue made up 94% of total revenue in FY2025.
- Program services accounted for 100% of functional expenses, management & general 0%, and fundraising 0%.
- 100% of functional expenses went to program services in FY2025. That is higher than 60.9% of 110 Mutual & Membership Benefit organizations nationwide (too few in DC for a state comparison).
- Net assets covered about 14.8 months of expenses at the end of the reporting year. That puts it in the 32nd percentile among 44 Mutual & Membership Benefit organizations in DC.
- Total revenue was the highest among 45 Mutual & Membership Benefit organizations in DC.
- Total revenue rose from $15,696,581 in FY2014 to $842,304,486 in FY2025. Revenue increased in 10 and decreased in 1 of 11 year-over-year comparisons.
- Expenses exceeded revenue in 4 of 12 reported years (FY2016, FY2017, FY2018, FY2024).
- The highest revenue on record here is $917,692,875 in FY2022.
- Net assets grew from $8,413,164 to $870,778,485 between FY2014 and FY2025.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (supporting organization).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
The purpose of Fiat Lux is to finance the University of California's self insured retentions, to purchase reinsurance directly, and to issue to the university of California's certain bespoke insurance policies.
IRS status
| Ruling year | 2015 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | Y20 — Mutual & Membership Benefit |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (supporting organization). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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