Farmers Mutual Insurance Company Of Sullivan & Adjoining Counties
- Assets
- $943.3k
- Revenue
- $296.0k
- Investments
- $0.0
- Employees
- 2
- Location
- Milan, MO
- Founding
- 03/1947
- Data as of
- 12/2022
- EIN
- 43-0624680
Organization Overview
Farmers Mutual Insurance Company Of Sullivan & Adjoining Counties is located in Milan, MO. The organization was established in 1947. 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, Farmers Mutual Insurance Company Of Sullivan & Adjoining Counties employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Farmers Mutual Insurance Company Of Sullivan & Adjoining Counties 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, Farmers Mutual Insurance Company Of Sullivan & Adjoining Counties generated $296.0k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $324.7k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE PROPERTY AND CASUALTY INSURANCE TO THE RESIDENTS OF SULLIVAN AND ADJOINING COUNTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE INSURANCE COVERAGE TO THE RESIDENTS OF SULLIVAN COUNTY AND ADJOINING COUNTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melvin Hall President/director | OfficerTrustee | 1 | $7,008 |
Carol E Mino Secretary/treasurer/direct | OfficerTrustee | 30 | $48,932 |
David Lentz Vice-President/director | OfficerTrustee | 1 | $9,376 |
Robert Williams Director | Trustee | 1 | $500 |
John Mino Director | Trustee | 1 | $7,897 |
Kenny Broyles Director | Trustee | 1 | $300 |
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 | $280,928 |
| Investment income | $6,994 |
| 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 | $295,968 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $84,581 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,353 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,114 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,737 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,062 |
| Office expenses | $3,094 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $760 |
| Insurance | $2,847 |
| All other expenses | $6,303 |
| Total functional expenses | $324,728 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $876,420 |
| Pledges and grants receivable | $0 |
| 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 | $1,539 |
| Net Land, buildings, and equipment | $14,709 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $50,664 |
| Total assets | $943,332 |
| Accounts payable and accrued expenses | $10,731 |
| 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 | $133,208 |
| Total liabilities | $143,939 |
| 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 | $799,393 |
| Total liabilities and net assets/fund balances | $943,332 |