Floyd County Mutual Fire Ins Co Inc is located in Floyd, VA. The organization was established in 1943. 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 12/2021, Floyd County Mutual Fire Ins Co Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Floyd County Mutual Fire Ins Co Inc 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, Floyd County Mutual Fire Ins Co Inc generated $158.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $114.5k during the year ending 12/2021. While expenses have increased by 4.9% 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
THE COMPANY IS A MUTUAL ASSESSMENT PROPERTY AND CASUALTY INSURER LICENSED PURSUANT TO CHAPTER 25 OF TITLE 38.2 OF THE CODE OF VIRGINIA
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL SERVICES ACCOMPLISHED
Name (title) | Role | Hours | Compensation |
---|---|---|---|
S G Bolt President | OfficerTrustee | 2 | $0 |
Reece Mcpeak Jr Vice President | OfficerTrustee | 2 | $0 |
Lelan R Cockram Agent | Trustee | 1 | $0 |
Curtis Ray Allen Director | Trustee | 1 | $0 |
Lester D Belcher Agent | Trustee | 1 | $0 |
Winston R Poff Agent | Trustee | 1 | $0 |
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 | $110,839 |
Investment income | $44,678 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $3,000 |
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 | $158,517 |
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. | $43,125 |
Compensation of current officers, directors, key employees. | $43,125 |
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 | $0 |
Fees for services: Legal | $60 |
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 | $48,529 |
Advertising and promotion | $1,862 |
Office expenses | $1,632 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $2,695 |
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 | $812 |
Insurance | $1,484 |
All other expenses | $0 |
Total functional expenses | $114,486 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $58,889 |
Savings and temporary cash investments | $3,275,928 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $3,467 |
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 | $30,590 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $3,368,874 |
Accounts payable and accrued expenses | $94,172 |
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 | $94,172 |
Net assets without donor restrictions | $3,274,702 |
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 | $0 |
Total liabilities and net assets/fund balances | $3,368,874 |
Organization Name | Assets | Revenue |
---|---|---|
Americas Health Insurance Plans Inc Washington, DC | $52,034,294 | $89,888,524 |
Virginia Property Insurance Assn Glen Allen, VA | $26,208,829 | $14,542,015 |
Afl-Cio Mutual Benefit Plan Washington, DC | $47,285,320 | $3,307,506 |
Farmers Union Mutual Fire Inc Co Of Bradley County Tennessee Term Cleveland, TN | $2,307,328 | $335,570 |
Farmers Mutual Insurance Company Of Giles County Pulaski, TN | $1,110,066 | $322,320 |
Fox Group Reinsurance Ltd Franklin, TN | $1,933,649 | $25,110 |
Floyd County Mutual Fire Ins Co Inc Floyd, VA | $3,368,874 | $158,517 |
Farmers Mutual Fire Insur Co Maynardville, TN | $1,561,030 | $74,001 |
Virginia Association Of Mutual Insurance Companies Richmond, VA | $190,879 | $0 |
Becron Reinsurance Limited Franklin, TN | $0 | $2 |
Nassief Group Reinsurance Ltd Franklin, TN | $650,099 | $0 |