Humboldt Farm Mutual Insurance Of
- Assets
- $1.7m
- Revenue
- $575.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Brandt, SD
- Founding
- 09/1944
- Data as of
- 12/2021
- EIN
- 46-0133650
Organization Overview
Humboldt Farm Mutual Insurance Of is located in Brandt, SD. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Humboldt Farm Mutual Insurance Of 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, Humboldt Farm Mutual Insurance Of generated $575.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $746.6k during the year ending 12/2021. While expenses have increased by 4.7% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE PROPERTY INSURANCE TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE HAVE PROVIDED INSURANCE TO OUR MEMBERS SINCE 1889
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ellen Kay Marshall Director | Trustee | 20 | $6,772 |
Tara Stubbe Secretary | OfficerTrustee | 1 | $1,000 |
Brian Mcmahon President | OfficerTrustee | 1 | $750 |
Edward Henningsen Treasurer | OfficerTrustee | 1 | $750 |
Rose Sieverding Vice Preside | OfficerTrustee | 1 | $500 |
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 | $559,149 |
| Investment income | $16,407 |
| 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 | $575,556 |
| 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 | $328,310 |
| Compensation of current officers, directors, key employees. | $9,772 |
| Compensation of current officers, directors, key employees. | $9,772 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $41,724 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $959 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,873 |
| Office expenses | $8,663 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $976 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $808 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,117 |
| Insurance | $0 |
| All other expenses | $27,911 |
| Total functional expenses | $746,607 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,685 |
| Savings and temporary cash investments | $1,509,646 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,775 |
| 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 | $142,991 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,707,097 |
| Accounts payable and accrued expenses | $247,927 |
| 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 | $0 |
| Total liabilities | $247,927 |
| 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 | $1,459,170 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,707,097 |
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