Tri-County Mutual Town Insurance Company
- Assets
- $593.7k
- Revenue
- $338.8k
- Investments
- $10.3k
- Employees
- 0
- Location
- Iron River, WI
- Founding
- 11/1935
- Data as of
- 12/2023
- EIN
- 39-0663760
Organization Overview
Tri-County Mutual Town Insurance Company is located in Iron River, WI. The organization was established in 1935. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, 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. Tri-County Mutual Town 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 12/2023, Tri-County Mutual Town Insurance Company generated $338.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $556.2k during the year ending 12/2023. 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
TOWN MUTUAL INSURANCE SALES
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNDERWRITING FIRE, LIGHTNING, EXTENDED COVERAGE, & INLAND MARINE INSURANCE IN ASHLAND, BAYFIELD, & DOUGLAS COUNTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debra Larson President | OfficerTrustee | $2,033 | |
Gary Peterson Vice Preside | OfficerTrustee | $596 | |
Scott Ogren Secretary/tr | OfficerTrustee | 10 | $9,596 |
John Antilla Director | Trustee | $596 | |
Mark Pihle Director | Trustee | $596 | |
William Peterson Director | Trustee | $596 |
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 | $359,751 |
| Investment income | $15,292 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$36,258 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $338,785 |
| 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. | $14,609 |
| Compensation of current officers, directors, key employees. | $14,609 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $77,815 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,770 |
| 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 | $2,355 |
| Information technology | $6,414 |
| Royalties | $0 |
| Occupancy | $22,500 |
| 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 | $288 |
| Insurance | $0 |
| All other expenses | $80,399 |
| Total functional expenses | $556,153 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,680 |
| Savings and temporary cash investments | $498,826 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,404 |
| 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 | $359 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $10,266 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $24,213 |
| Total assets | $593,748 |
| Accounts payable and accrued expenses | $364 |
| 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 | $173,277 |
| Total liabilities | $173,641 |
| 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 | $420,107 |
| Total liabilities and net assets/fund balances | $593,748 |