Leon Mutual Insurance Co
- Assets
- $1.1m
- Revenue
- $359.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Cannon Falls, MN
- Founding
- 02/1959
- Data as of
- 12/2018
- EIN
- 41-6037077
Organization Overview
Leon Mutual Insurance Co is located in Cannon Falls, MN. The organization was established in 1959. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Leon 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 12/2018, Leon Mutual Insurance Co generated $359.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $490.7k during the year ending 12/2018. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 4 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION WRITES FIRE AND ADDITIONAL LINES INSURANCE COVERAGES AND PAYS CLIAMS ON COVERED POLICYHOLDERS/MEMBERS.
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: 373POLICIES IN FORCE: 210,727,444
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clifford Hanson President | OfficerTrustee | 1 | $876 |
Gary Thyren Secretary | OfficerTrustee | 1 | $876 |
Tim Sundheim Director | Trustee | 1 | $780 |
Laverne Rapp Treasurer | OfficerTrustee | 1 | $717 |
Rodney Weber Vice-President | OfficerTrustee | 1 | $666 |
Matt Hansen Director | Trustee | 1 | $630 |
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 | $332,283 |
| Investment income | $27,488 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$131 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $359,640 |
| 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 | $206,316 |
| Compensation of current officers, directors, key employees. | $5,655 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $42,290 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,686 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,059 |
| Office expenses | $5,954 |
| Information technology | $6,126 |
| Royalties | $0 |
| Occupancy | $7,887 |
| Travel | $87 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,377 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $244 |
| Insurance | $4,923 |
| All other expenses | $5,429 |
| Total functional expenses | $490,679 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $115,337 |
| Savings and temporary cash investments | $407,659 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,615 |
| 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 | $521,965 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,056,576 |
| Accounts payable and accrued expenses | $182,921 |
| Grants payable | $0 |
| Deferred revenue | $117,620 |
| 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 | $300,541 |
| 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 | $756,035 |
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Minnesota Association Of Farm Mutual Insurance Companies Inc St Joseph, MN | $1,437,367 | $573,601 |
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