Farmers Mutual Fire Insurance Company Of Clearwater County
- Assets
- $1.1m
- Revenue
- $350.6k
- Investments
- $948.3k
- Employees
- 2
- Location
- Gonvick, MN
- Founding
- Data as of
- 12/2016
- EIN
- 41-0249987
Organization Overview
Farmers Mutual Fire Insurance Company Of Clearwater County is located in Gonvick, MN. As of 12/2016, Farmers Mutual Fire Insurance Company Of Clearwater County employed 2 individuals. Farmers Mutual Fire Insurance Company Of Clearwater County is a 501(c)(15) and as such, is described as a "Mutual Insurance Company or Association" by the IRS.
For the year ending 12/2016, Farmers Mutual Fire Insurance Company Of Clearwater County generated $350.6k in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $300.3k during the year ending 12/2016. 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
2016
Describe the Organization's Mission:
Part 3 - Line 1
PROPERTY & CASUALTY INSURANCE TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROPERTY & CASUALTY INSURER OF FARMS, HOMES, CHURCHES, & BUS. IN THE LINE OF LIGHTNING, FIRE,& OTHER LOSSES. BENEFITS PD TO MEMBERS FOR LOSS INCURRED AFTER REINSURANCE COLLECTED. AT DECEMBER 31, 2016 THE TOWNSHIP MUTUAL HAD 692 POLICIES IN FORCE WITH A TOTAL INSURED VALUE OF $139,635,612.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Berg Secretary/treasurer | OfficerTrustee | 40 | $54,504 |
Vernon Hamnes President | OfficerTrustee | 5 | $0 |
Paul Buer Vice President | OfficerTrustee | 1 | $0 |
Gary Berg Director | Trustee | 1 | $0 |
Ruth Trask Director | Trustee | 1 | $0 |
Gary Bjerke Director | Trustee | 1 | $0 |
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 | $321,447 |
| Investment income | $29,178 |
| 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 | $350,625 |
| 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 | $68,261 |
| Compensation of current officers, directors, key employees. | $55,749 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,225 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,616 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,685 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $960 |
| Office expenses | $1,271 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,862 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $776 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,024 |
| Insurance | $0 |
| All other expenses | $9,544 |
| Total functional expenses | $300,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $161,173 |
| Savings and temporary cash investments | $2,829 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,983 |
| 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 | $15,112 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $948,268 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,383 |
| Total assets | $1,137,748 |
| Accounts payable and accrued expenses | $8,665 |
| 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 | $164,343 |
| Total liabilities | $173,008 |
| 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 | $964,740 |
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