Shible Mutual Fire Insurance
- Assets
- $1.3m
- Revenue
- $368.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Appleton, MN
- Founding
- 12/1944
- Data as of
- 12/2021
- EIN
- 41-0537165
Organization Overview
Shible Mutual Fire Insurance is located in Appleton, MN. The organization was established in 1944. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Shible Mutual Fire Insurance employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shible Mutual Fire Insurance is a 501(c)(15) and as such, is described as a "Mutual Insurance Company or Association" by the IRS.
For the year ending 12/2021, Shible Mutual Fire Insurance generated $368.2k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $273.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.2%) per year over the past 7 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
2021
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 501C(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: 486INSURANCE IN FORCE: 233,850,317
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mitchell Gerdes Manager/treasurer | OfficerTrustee | 40 | $38,277 |
Dan Smith President | OfficerTrustee | 1 | $1,400 |
Richard Ehrenberg Secretary | OfficerTrustee | 1 | $1,400 |
Roger Rheingans Vice-President | OfficerTrustee | 1 | $900 |
Galen Gerdes Director | Trustee | 1 | $750 |
Jeff Kack Director | Trustee | 1 | $750 |
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 | $356,963 |
| Investment income | $11,269 |
| 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 | $368,232 |
| 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 | $74,071 |
| Compensation of current officers, directors, key employees. | $43,477 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $28,159 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,592 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,137 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,384 |
| Office expenses | $6,899 |
| Information technology | $1,282 |
| Royalties | $0 |
| Occupancy | $5,924 |
| Travel | $524 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $189 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,104 |
| Insurance | $5,798 |
| All other expenses | $0 |
| Total functional expenses | $273,337 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $148,537 |
| Savings and temporary cash investments | $806,142 |
| Pledges and grants receivable | $5,677 |
| Accounts receivable, net | $0 |
| 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 | $29,278 |
| Investments—publicly traded securities | $314,043 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,303,677 |
| Accounts payable and accrued expenses | $21,952 |
| Grants payable | $0 |
| Deferred revenue | $163,403 |
| 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 | $185,355 |
| 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 | $1,118,322 |
| Total liabilities and net assets/fund balances | $1,303,677 |
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