Form 990 for tax year 2022
Filed by FIAT LUX RISK AND INSURANCE COMPANY.
Totals
- Total revenue
- $538,359,834
- Total expenses
- $386,766,449
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $513,517,033
- Investment income
- $24,842,801
- Other revenue
- $0
- Total assets, end of year
- $1,796,549,488
- Total liabilities, end of year
- $1,330,899,601
- Net assets or fund balances, end of year
- $465,649,887
- Program services expenses (Part IX)
- $385,408,432
- Management and general expenses
- $1,358,017
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $385,408,432
Program services were 99.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: Net Earned Premiums
total $513,517,033 · related or exempt $513,517,033
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $24,842,801 · unrelated business $615,000 · excluded $24,227,801
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
11a · Fees: management
total $1,527,543 · program services $1,023,454 · management and general $504,089
-
11b · Fees: legal
total $60,233 · management and general $60,233
-
11c · Fees: accounting
total $455,000 · management and general $455,000
-
11g · Fees: other
total $276,750 · program services $276,750 · management and general $0 · fundraising $0
-
17 · Travel
total $93,456 · management and general $93,456
-
23 · Insurance
total $43,122 · management and general $43,122
-
24a · Other expenses: LOSSES AND LOSS ADJ EXP
total $383,929,763 · program services $383,929,763
-
24b · Other expenses: PREMIUM TAXES
total $178,465 · program services $178,465
-
24c · Other expenses: FEDERAL INCOME TAXES
total $117,517 · management and general $117,517
-
24d · Other expenses: STATE TAX EXPENSE
total $68,278 · management and general $68,278
-
24e · All other expenses
total $16,322 · program services $0 · management and general $16,322 · fundraising $0
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $842,157,877 · end of year $404,282,393
-
4 · Accounts receivable
beginning of year $13,988,522 · end of year $34,171,998
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $12,300,000 · end of year $10,200,000
-
9 · Prepaid expenses and deferred charges
beginning of year $420,569 · end of year $4,583,165
-
10a · Land, buildings and equipment: cost or other basis
$0
-
10b · Land, buildings and equipment: accumulated depreciation
$0
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
11 · Investments: publicly traded securities
beginning of year -$647 · end of year -$647
-
12 · Investments: other securities
beginning of year $980,236,111 · end of year $1,061,549,583
-
13 · Investments: program-related
beginning of year $0
-
15 · Other assets
beginning of year $326,567,359 · end of year $281,762,996
-
17 · Accounts payable and accrued expenses
beginning of year $662,567 · end of year $635,376
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $1,898,825,204 · end of year $1,330,264,225
-
29 · Capital stock, trust principal or current funds
beginning of year $276,182,020 · end of year $465,649,887
Mission and programs · 2022
Mission
THE ORGANIZATION'S PRIMARY MISSION IS TO OPERATE FOR THE BENEFIT OF AND TO PROMOTE AND SUPPORT, DIRECTLY OR INDIRECTLY, THE INTERESTS AND PURPOSES OF THE REGENTS OF THE UNIVERSITY OF CALIFORNIA.
Activities or mission (Part I)
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.
-
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. IN FURTHERANCE OF THIS PURPOSE, THE ORGANIZATION PROVIDES: (A) IMPROVED RISK MANAGEMENT PRICING PREDICTABILITY AND COST STABILITY; (B) ENHANCED RISK MANAGEMENT, AND PROTECTION AND COVERAGE OF LESS TRADITIONAL RISKS AND ESOTERIC RISKS; (C) A FOUNDATION FOR DEVELOPMENT AND IMPLEMENTATION WITHIN THE REGENTS OF MORE FORMALIZED RISK FINANCING POLICIES AND PROCEDURES; AND (D) INSURANCE COVERAGE FOR EXTERNAL THIRD PARTIES, INCLUDING BUT NOT LIMITED TO, AGENTS, AFFILIATES, ASSOCIATIONS, JOINT VENTURES, AND PARTNERSHIPS OF OR IN WHICH THE REGENTS OF THE UNIVERSITY OF CALIFORNIA PARTICIPATES OR OWNS AN INTEREST PROVIDED THAT SUCH THIRD PARTY COVERAGE IS NO MORE THAN AN INSUBSTANTIAL PORTION OF THE ORGANIZATION'S OVERALL ACTIVITIES. To date and in total the organization provides over 40 different coverages and risk financing arrangements to the University of California.
Expenses $385,408,432 · Revenue $513,517,033
As filed on the 2022 return.
Listed in Part VII
-
Charles F RobinsonCHARLES F ROBINSON
Director/SECRETARY (Until 9/15/22)
- Total calculated
- $634,788
- From this org
- $0
- From related orgs
- $513,964
- Other
- $120,824
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $462,313 related
- Bonus
- $0 + $8,916 related
- Other
- $0 + $42,735 related
- Deferred
- $0 + $88,407 related
- Nontaxable benefits
- $0 + $32,417 related
- Filer's total
- $0 + $634,788 related
-
Kevin A ConfettiKEVIN A CONFETTI
President
- Total calculated
- $361,892
- From this org
- $0
- From related orgs
- $277,657
- Other
- $84,235
- Hours/week
- 4 + 36 related
Schedule J breakdown matched by us
- Base
- $0 + $235,959 related
- Bonus
- $0
- Other
- $0 + $41,698 related
- Deferred
- $0 + $60,117 related
- Nontaxable benefits
- $0 + $24,118 related
- Filer's total
- $0 + $361,892 related
-
Nathan BrostromNATHAN BROSTROM
Director/Chair/CFO
- Total calculated
- $580,847
- From this org
- $0
- From related orgs
- $477,600
- Other
- $103,247
- Hours/week
- 3 + 37 related
Schedule J breakdown matched by us
- Base
- $0 + $425,899 related
- Bonus
- $0 + $8,916 related
- Other
- $0 + $42,785 related
- Deferred
- $0 + $79,129 related
- Nontaxable benefits
- $0 + $24,118 related
- Filer's total
- $0 + $580,847 related
-
Norman L HamillNORMAN L HAMILL
Director/ASST. SECRETARY
- Total calculated
- $358,078
- From this org
- $0
- From related orgs
- $293,478
- Other
- $64,600
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $250,741 related
- Bonus
- $0
- Other
- $0 + $42,737 related
- Deferred
- $0 + $61,883 related
- Nontaxable benefits
- $0 + $2,717 related
- Filer's total
- $0 + $358,078 related
-
Erin GoreERIN GORE
Director (UNTIL 10/01/22)
- Total calculated
- $0
- Hours/week
- 1
-
Jarid Beck
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michael Beck
Director
- Total calculated
- $0
- Hours/week
- 4
-
Michael DrakeMICHAEL DRAKE
DIRECTOR
- Total calculated
- $1,033,517
- From this org
- $0
- From related orgs
- $943,384
- Other
- $90,133
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $908,009 related
- Bonus
- $0
- Other
- $0 + $35,375 related
- Deferred
- $0 + $66,771 related
- Nontaxable benefits
- $0 + $23,362 related
- Filer's total
- $0 + $1,033,517 related
-
Rachael NavaRACHAEL NAVA
Director
- Total calculated
- $501,397
- From this org
- $0
- From related orgs
- $414,276
- Other
- $87,121
- Hours/week
- 4 + 36 related
Schedule J breakdown matched by us
- Base
- $0 + $362,483 related
- Bonus
- $0 + $8,916 related
- Other
- $0 + $42,877 related
- Deferred
- $0 + $63,003 related
- Nontaxable benefits
- $0 + $24,118 related
- Filer's total
- $0 + $501,397 related
-
Ron CortezRON CORTEZ
Director
- Total calculated
- $0
- Hours/week
- 1
-
Chris C HarringtonCHRIS C HARRINGTON
ASST. SECRETARY
- Total calculated
- $0
- Hours/week
- 2
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
The filer's explanations (Part III)
- Schedule J, Part I, Line 3 COMPENSATION OF TOP MANAGEMENT OFFICIAL
- THE TOP MANAGEMENT OFFICIAL IS COMPENSATED BY A RELATED ORGANIZATION, THE REGENTS OF THE UNIVERSITY OF CALIFORNIA, FOR THEIR SERVICES TO THE RELATED ORGANIZATION AND THE FILING ORGANIZATION. THE PROCESS BY THE RELATED ORGANIZATION TO DETERMINE COMPENSATION include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
REGENTS OF THE UNIVERSITY OF CALIFORNIA
501(c)(3) · Public Educational Institution · CA
Directly controlled by NA
-
University of California Berkeley Foundation
501(c)(3) · Educational Foundation · CA
Directly controlled by NA
-
501(c)(3) · Educational Foundation · CA
Directly controlled by NA
-
501(c)(3) · Educational Foundation · CA
Directly controlled by NA
-
501(c)(3) · Educational Foundation · CA
Directly controlled by NA
-
University of California San Francisco Foundation
501(c)(3) · Educational Foundation · CA
Directly controlled by NA
-
University of California Merced Foundation
501(c)(3) · Educational Foundation · CA
Directly controlled by NA
-
University of California Irvine Foundation
501(c)(3) · Educational Foundation · CA
Directly controlled by NA
-
501(c)(3) · Educational Foundation · CA
Directly controlled by NA
-
501(c)(3) · Educational Foundation · CA
Directly controlled by NA
-
501(c)(3) · Educational Foundation · CA
Directly controlled by NA
-
501(c)(3) · To support scientific and educational purposes · CA
Directly controlled by The Regents of the University of California
-
UCLA Technology Development Corporation (formerly Westwood Technology Trans fer)
501(c)(3) · To manage intellectual property on behalf of the UCLA campus · CA
Directly controlled by The Regents of the University of California
-
La Casa de California en Mexico AC
To serve the expanding missions of the UC in Mexico · MX
Directly controlled by The Regents of the University of California
-
University of California Foundation Limited
To promote higher education at UC in Hong Kong · HK
Directly controlled by The Regents of the University of California
-
University of California Trust (UK) Limited
To promote the UC and its mission in Europe · UK
Directly controlled by The Regents of the University of California
-
Fundacion UC Davis-Chile Life Sciences Innovation Center
To conduct scientific research in Chile · CI
Directly controlled by The Regents of the University of California
-
Childrens Hospital & Research Center at Oakland
501(c)(3) · Healthcare · CA
Directly controlled by The Regents of the University of California
-
501(c)(3) · Medical Foundation · CA
Directly controlled by The Regents of the University of California
-
Regency Broadway Properties Inc
501(c)(3) · Title Holding · CA
Directly controlled by The Regents of the University of California
-
Global Programs
Scientific Research and Training · TZ
Directly controlled by The Regents of the University of California
-
Global Programs for Research and Training
Scientific Research and Training · KE
Directly controlled by The Regents of the University of California
-
Global Programs for Research and Training
Scientific Research and Training · UG
Directly controlled by The Regents of the University of California
-
Global Programs for Research and Training
Scientific Research and Training · MZ
Directly controlled by The Regents of the University of California
-
Global Programs for Research and Training
Scientific Research and Training · WA
Directly controlled by The Regents of the University of California
-
Global Programs for Research and Training
Scientific Research and Training · SF
Directly controlled by The Regents of the University of California
-
Global Programs for Research and Training
Scientific Research and Training · LA
Directly controlled by The Regents of the University of California
-
Berkeley Education Alliance for Research in Singapore Limited
Scientific Research · SN
Directly controlled by The Regents of the University of California
-
Associao da Universidade da Califrnia no Brasil
Operation of Study Abroad Programs · BR
Directly controlled by The Regents of the University of California
-
Centre Etudes de lUniversite de Californie
Operation of Study Abroad Program · FR
Directly controlled by The Regents of the University of California
-
Association Californie Rhone-Alpes
Operation of Study Abroad Program · FR
Directly controlled by The Regents of the University of California
-
The University of California Home Loan Program Corporation
501(c)(3) · Mortgage loan assistance in support of the recruitment & retention of UC faculty & senior managers · CA
Directly controlled by The Regents of the University of California
-
501(c)(2) · Holding title to real property · CA
Directly controlled by The Regents of the University of California
-
The Regents of the University of California (UCLA) (Cameroon)
Research and educational efforts · CM
Directly controlled by NA
-
Fundacion UC Davis-Chile Life Sciences Innovation Center
501(c)(3) · To manage and self-fund terrorism and other liability losses for the Regents of UC · DC
Directly controlled by NA
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
UCSD Garden View LLC
Own and Lease Real Estate · DE · income $0 · assets $0
Directly controlled by The Regents of the University of California
-
UC Health Ventures LLC
Asset Holding · CA · income $0 · assets $0
Directly controlled by The Regents of the University of California
-
Peyto LLC
Asset Holding · DE · income $0 · assets $0
Directly controlled by The Regents of the University of California
-
UCFI LLC
Asset Holding · DE · income $0 · assets $0
Directly controlled by The Regents of the University of California
-
Lake Merritt LLC
Asset Holding · DE · income $0 · assets $0
Directly controlled by The Regents of the University of California
-
Joshua Tree Holdings LLC
Asset Holding · DE · income $0 · assets $0
Directly controlled by The Regents of the University of California
-
Stockbridge SIV OP GP LLC
Asset Holding · DE · income $0 · assets $0
Directly controlled by Stockbridge Strategic Industrial Venture LLC
-
Ultracore Strategic Industrial Venture LLC
Asset Holding · DE · income $0 · assets $0
Directly controlled by Strategic Industrial Venture OP LP
-
University Community Land Company LLC
Hold real estate · CA · income $0 · assets $0
Directly controlled by The Regents of the University of California
-
Ruette Nice LLC
Hold real estate · CA · income $0 · assets $0
Directly controlled by The Regents of the University of California
-
Glenwick Place LLC
Hold real estate · CA · income $0 · assets $0
Directly controlled by The Regents of the University of California
-
Obtain/administer funds to be used in furtherance of the purpose of the Regents · CA · income $0 · assets $0
Directly controlled by The Regents of the University of California
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
Regency Valley Center LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Lakewood LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Evans Ranch LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Wood South LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Lion LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Sandy Springs LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Coral Gables LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Bressi LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Meridian Holding LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Gaslamp Square Retail Owner LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Portrait LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Phase II Oak Park LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Phase I Oak Park LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency 411 D St LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency 701 B Street LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency 44th Street LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
University Associates Silicon Valley LLC
N/A · To design and build a sustainable educational · DE
Directly controlled by NA
-
UCSD Ambulatory Surgery Center LLC
N/A · To serve as an ambulatory surgery center · DE
Directly controlled by UCSD-SCA Holdings II LLC
-
Regency Columbia Center LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Columbia Square LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Indigo Austin LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Broadway Franklin LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Tropicana LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency TriPacific LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Arborpoint LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Oakland A LLC
N/A · Hold and Manage Real Estate · DE
Directly controlled by NA
-
Regency Oakland B LLC
N/A · Hold and Manage Real Estate · DE
Directly controlled by NA
-
Regency Main Plaza LLC
N/A · Hold and Manage Real Estate · DE
Directly controlled by NA
-
Regency Redwood Center LLC
N/A · Hold and Manage Real Estate · DE
Directly controlled by NA
-
Tahoe Ltd
N/A · Asset Holding · MP
Directly controlled by NA
-
Regency Chatsworth
N/A · Hold and Manage Real Estate · DE
Directly controlled by NA
-
Regency Cherry Hill LLC
N/A · Hold and Manage Real Estate · DE
Directly controlled by NA
-
Regency Bluecore
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Westloop
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
Regency Vista Park
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
UCLASP Holdings LLC aka SCOI
N/A · Owns and operates ambulatory surgery centers · DE
Directly controlled by NA
-
Stockbridge SIV Reno LLC
N/A · Asset Holding · DE
Directly controlled by The Regents of the University of California
-
Strategic Industrial Venture OP LP
N/A · Asset Holding · DE
Directly controlled by Stockbridge Strategic Industrial Venture LLC
-
Regency Gardens Pointe LLC
N/A · Hold and manage real estate · CA
Directly controlled by NA
-
Regency Dulles
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
636 Sixth Avenue Owner LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
UCSD-SCA Holdings I LLC
N/A · Owns ambulatory surgery centers · DE
Directly controlled by NA
-
UCSD-SCA Holdings II LLC
N/A · Owns ambulatory surgery centers · DE
Directly controlled by NA
-
UCSD Center for Surgery of Encinitas LP
N/A · Ambulatory surgery center · CA
Directly controlled by UCSD-SCA Holdings I LLC
-
UCSD Surgical Center of San Diego LLC
N/A · Ambulatory surgery center · CA
Directly controlled by UCSD-SCA Holdings I LLC
-
Regency Mission Hills LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
-
CP Redlands III LLC
N/A · Hold and manage real estate · DE
Directly controlled by NA
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
UC HEALTH RRG
C Corporation · INSURANCE · DC · 0% owned · share of income $0 · share of assets $0
Directly controlled by Na
-
Eureka Insurance Company PCC
C Corporation · Insurance · DC · 0% owned · share of income $0 · share of assets $0
Directly controlled by Na
-
Eureka One IC
C Corporation · Insurance · DC · 0% owned · share of income $0 · share of assets $0
Directly controlled by Na
-
SEQUOIA IC AN INCORPORATED CELL OF EUREKA INSURANCE COMPANY PCC
C Corporation · INSURANCE · DC · 0% owned · share of income $0 · share of assets $0
Directly controlled by Na
-
Regency 44TH Property Inc
C Corporation · Hold and manage real estate · DE · 0% owned · share of income $0 · share of assets $0
Directly controlled by Na
-
UC San Diego Health Accountable Care Network Inc
C Corporation · Medical services · CA · 0% owned · share of income $0 · share of assets $0
Directly controlled by Na
-
Azure Lake (Cayman LLC)
C Corporation · Asset Holding · CJ · 0% owned · share of income $0 · share of assets $0
Directly controlled by Na
-
Stockbridge Strategic Industrial Venture LLC
C Corporation · Asset Holding · DE · 0% owned · share of income $0 · share of assets $0
Directly controlled by Na
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202401369349308480
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