Cokato Mutual Fire Insurance Company
- Assets
- $1.1m
- Revenue
- $341.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Maple Lake, MN
- Founding
- Data as of
- 12/2017
- EIN
- 41-0197630
Organization Overview
Cokato Mutual Fire Insurance Company is located in Maple Lake, MN. As of 12/2017, Cokato Mutual Fire Insurance Company employed 2 individuals. Cokato Mutual Fire 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 12/2017, Cokato Mutual Fire Insurance Company generated $341.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (6.1%) each year. All expenses for the organization totaled $317.8k during the year ending 12/2017. As we would expect to see with falling revenues, expenses have declined by (13.5%) per year over the past 2 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION WRITES FIRE AND ADDITIONAL LINES INSURANCE COVERAGES AND PAYS CLAIMS ON COVERED POLICYHOLDER LOSSES PER IRC SECTION 501(C)(15)
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE HAVE PROVIDED PROPERTY INSURANCE FOR OUR MEMBERS PER SECTION 501(C)(15).NUMBER OF MEMBERS: 609INSURANCE IN FORCE: 286,690,182
WE HAVE PROVIDED PROPERTY INSURANCE FOR OUR MEMBERS PER SECTION 501(C)(15).NUMBER OF MEMBERS: 609INSURANCE IN FORCE: 286,690,182
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Ailie President | OfficerTrustee | 1 | $1,525 |
Joey Berg Vice President | OfficerTrustee | 10 | $825 |
Daniel Kyllonen Secretary | OfficerTrustee | 1 | $1,425 |
Glen Johnson Treasurer | OfficerTrustee | 1 | $900 |
David Hendrickson Director | Trustee | 1 | $750 |
Charles D Mackereth Director | Trustee | 1 | $600 |
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 | $318,764 |
| Investment income | $29,943 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,916 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $341,791 |
| 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 | $36,512 |
| Compensation of current officers, directors, key employees. | $7,750 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $56,107 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,501 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,500 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,323 |
| Office expenses | $4,922 |
| Information technology | $11,342 |
| Royalties | $0 |
| Occupancy | $6,125 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,747 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,381 |
| Insurance | $23,469 |
| All other expenses | $5,645 |
| Total functional expenses | $317,784 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,428 |
| Savings and temporary cash investments | $50,483 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,435 |
| 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 | $0 |
| Investments—publicly traded securities | $924,871 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,060,217 |
| Accounts payable and accrued expenses | $6,350 |
| 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 | $156,623 |
| Total liabilities | $162,973 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $897,244 |