Farmers Mutual Fire Insurance Co
- Assets
- $227.5k
- Revenue
- $622.7k
- Investments
- $4.5k
- Employees
- 0
- Location
- Verona, KY
- Founding
- 02/1945
- Data as of
- 12/2023
- EIN
- 61-0189290
Organization Overview
Farmers Mutual Fire Insurance Co is located in Verona, KY. The organization was established in 1945. 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. Farmers Mutual Fire 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 12/2023, Farmers Mutual Fire Insurance Co generated $622.7k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $683.8k during the year ending 12/2023. While expenses have increased by 3.3% per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING HOME, FARM, BUSINESS PROPERTY AND LIABILITY COVERAGE TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING HOME, FARM, BUSINESS PROPERTY AND LIABILITY INSURANCE COVERAGE TO MEMBERS
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melinda Danner President | Trustee | 40 | $0 |
Suzanne Epperson Vice President | Trustee | 1.5 | $0 |
Roberta Rice Secretary | Trustee | 40 | $0 |
James T Moore Executive Dir. | Trustee | 1.5 | $0 |
Lee Ann Brooks Executive Dir. | Trustee | 1.25 | $0 |
Crystal Feliciano-Vann Executive Dir. | Trustee | 1.25 | $0 |
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 | $618,102 |
| Investment income | $4,599 |
| 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 | $622,701 |
| 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 | $446,517 |
| Compensation of current officers, directors, key employees. | $101,919 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $44,498 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,248 |
| Payroll taxes | $8,098 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $32,061 |
| Advertising and promotion | $1,695 |
| Office expenses | $8,283 |
| 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 | $2,277 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,890 |
| All other expenses | $9,343 |
| Total functional expenses | $683,823 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,216 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,404 |
| 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 | $94,971 |
| Investments—publicly traded securities | $48,341 |
| Investments—other securities | $4,548 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $227,480 |
| Accounts payable and accrued expenses | $0 |
| 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 | $26,809 |
| Total liabilities | $26,809 |
| Net assets without donor restrictions | $200,671 |
| 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 | $227,480 |