New Munich Mutual Insurance Company

Organization Overview

New Munich Mutual Insurance Company, operating under the name New Munich Mutual Insurance Co, is located in Sauk Centre, MN. The organization was established in 1941. 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. As of 12/2022, New Munich Mutual Insurance Co employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Munich Mutual Insurance Co 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, New Munich Mutual Insurance Co generated $481.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $478.3k during the year ending 12/2022. While expenses have increased by 7.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE ORGANIZATION PROVIDES PROPERTY CASUALTY INSURANCE COVERAGE FOR FARMERS AND HOMEOWNERS IN RURAL MINNESOTA UNDER IRC 501(C)(15) AND MINNESOTA STATUTE 67A

Describe the Organization's Program Activity:

Part 3 - Line 4a

WE HAVE PROVIDED PROPERTY INSURANCE FOR OUR MEMBERS PER MN STATUTE 67A AND IRC 501(C)(15).NUMBER OF MEMBERS 486INSURANCE IN FORCE $448,388,000


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Board, Officers & Key Employees

Name (title)Compensation
Victor Uphoff
President
$1,700
David Ehlert
Secretary Treasurer
$1,300
Mike Zierden
Director
$500
Steve Wiechman
Director
$500
Timothy Mayers
Vice -President
$400
Daniel Schulzetenberg
Director
$400

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$463,439
Investment income $17,647
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 $481,086

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