West & Knox Mutual Insurance Co
- Assets
- $1.3m
- Revenue
- $282.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Carrollton, OH
- Founding
- 05/1945
- Data as of
- 12/2023
- EIN
- 34-0651779
Organization Overview
West & Knox Mutual Insurance Co is located in Carrollton, OH. The organization was established in 1945. According to its NTEE Classification (Y23) the organization is classified as: Mutual Insurance Companies & Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. West & Knox Mutual Insurance Co is a 501(c)(15) and as such, is described as a "Mutual Insurance Company or Association" by the IRS.
For the year ending 12/2023, West & Knox Mutual Insurance Co generated $282.5k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $268.6k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
INSURING IT'S MEMBERS AGAINST LOSS DUE TO DAMAGE FROM FIRE, LIGHTNING WINDSTORMS AND EXTENDED COVERAGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSURING IT'S MEMBERS AGAINST LOSS DUE TO DAMAGE FROM FIRE, LIGHTNING WINDSTORMS AND EXTENDED COVERAGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donna Detchon Director | Trustee | $3,000 | |
John Capron II Director | Trustee | $3,000 | |
Charles Kooser Vice President | OfficerTrustee | $3,600 | |
Kim Lentz Director | Trustee | $3,000 | |
Sherman Oyer President | OfficerTrustee | $7,200 | |
Christopher Tissot Director | Trustee | $3,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $268,370 |
| Investment income | $15,878 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $282,499 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $39,743 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,356 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,280 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,700 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,299 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,672 |
| Insurance | $6,550 |
| All other expenses | $9,586 |
| Total functional expenses | $268,590 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100 |
| Savings and temporary cash investments | $1,105,962 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,636 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $79,436 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $68,140 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,266,274 |
| Accounts payable and accrued expenses | $133,546 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $133,546 |
| Net assets without donor restrictions | $1,132,728 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,266,274 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Association Of Mutual Insurance Companies Indianapolis, IN | $22,000,768 | $20,704,238 |
Pennsylvania Association Of Mutual Insurance Companies Mechanicsburg, PA | $985,825 | $1,049,603 |
Patrons Mutual Fire Ins Co Carmel, IN | $439,908 | $436,894 |
West Branch Mutual Insurance Company Muncy, PA | $1,340,448 | $567,998 |
Bartholomew County German Mutual Insurance Company Inc Edinburgh, IN | $2,747,542 | $618,161 |
West & Knox Mutual Insurance Co Carrollton, OH | $1,266,274 | $282,499 |
Pymatuning Mutual Insurance Company Mercer, PA | $2,758,099 | $216,350 |
Ohio Association Of Mutual Insurance Company Indianapolis, IN | $195,276 | $0 |
Ever-Greene Mutual Insurance Company Everett, PA | $7,499,473 | $556,068 |
Mutual Insurance Companies Indianapolis, IN | $216,416 | $0 |
Seaway Mutual Insurance Company Erie, PA | $2,096,806 | $73,986 |
Cambria County Mutual Ins Co Patton, PA | $309,976 | $33,813 |