Patrons Mutual Insurance Company
- Assets
- $2.3m
- Revenue
- $509.4k
- Investments
- $0.0
- Employees
- 1
- Location
- Danvers, IL
- Founding
- 12/1946
- Data as of
- 12/2022
- EIN
- 37-0454977
Organization Overview
Patrons Mutual Insurance Company is located in Danvers, IL. The organization was established in 1946. 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. Patrons Mutual Insurance Company is a 501(c)(15) and as such, is described as a "Mutual Insurance Company or Association" by the IRS.
For the year ending 12/2022, Patrons Mutual Insurance Company generated $509.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $396.4k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE NON-LIFE INSURANCE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FIRE, WIND AND EARTHQUAKE INSURANCE FOR MEMBERS. 204 POLICIES IN FORCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sam Deal Secretary | OfficerTrustee | 20 | $34,500 |
David Dawson President | OfficerTrustee | $300 | |
Robert Yoder Treasurer | OfficerTrustee | $300 | |
Larry Rapp Director | Trustee | $200 | |
J Jeff Schneider Director | Trustee | $200 | |
Gilbert Turner III Director | Trustee | $150 |
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 | $489,695 |
| Investment income | $13,041 |
| 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 | $509,382 |
| 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 | $74,792 |
| Compensation of current officers, directors, key employees. | $36,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,429 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $96,326 |
| Advertising and promotion | $562 |
| Office expenses | $655 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $3,255 |
| All other expenses | $6,466 |
| Total functional expenses | $396,404 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $293,528 |
| Savings and temporary cash investments | $1,986,076 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,686 |
| 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 | $19,866 |
| Investments—publicly traded securities | $11,486 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,958 |
| Total assets | $2,329,600 |
| Accounts payable and accrued expenses | $15,469 |
| Grants payable | $0 |
| Deferred revenue | $197,182 |
| 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 | $50,346 |
| Total liabilities | $262,997 |
| Net assets without donor restrictions | $0 |
| 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 | $2,066,603 |
| Total liabilities and net assets/fund balances | $2,329,600 |