Farmers Mutual Fire Insurance Co
- Assets
- $388.4k
- Revenue
- $586.9k
- Investments
- $10.4k
- Employees
- 0
- Location
- Verona, KY
- Founding
- 02/1945
- Data as of
- 12/2021
- 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 12/2021, Farmers Mutual Fire Insurance Co generated $586.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $520.3k during the year ending 12/2021. While expenses have increased by 0.5% 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
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 | $57,199 |
Roberta Rice Secretary | Trustee | 40 | $32,106 |
Suzanne Epperson Vice President | Trustee | 1.5 | $3,611 |
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 | $581,676 |
| Investment income | $5,258 |
| 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 | $586,934 |
| 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 | $329,517 |
| Compensation of current officers, directors, key employees. | $92,916 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,600 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,709 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,425 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $27,462 |
| Advertising and promotion | $17,752 |
| Office expenses | $18,718 |
| 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 | $2,903 |
| Insurance | $2,501 |
| All other expenses | $375 |
| Total functional expenses | $520,294 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $170,646 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $97,313 |
| Investments—publicly traded securities | $109,980 |
| Investments—other securities | $10,433 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $388,372 |
| 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 | $6,311 |
| Total liabilities | $6,311 |
| Net assets without donor restrictions | $382,061 |
| 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 | $388,372 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ads Alliance Data Systems Inc Employee Benefits Trust Columbus, OH | $17,341,004 | $79,868,187 |
United Church Insurance Association Cleveland, OH | $16,856,548 | $69,122,452 |
Western And Southern Life Insurance Company Veba Trust Cincinnati, OH | $9,770,641 | $57,519,736 |
University Of Chicago Self Insurance Trust Chicago, IL | $366,096,537 | $38,837,635 |
Welfare Fund Of Engineers Local 513 Bridgeton, MO | $114,642,323 | $59,012,393 |
Heritage Group Employee Benefit Trust Indianapolis, IN | $5,252,708 | $48,474,958 |
Catholic Charities Usa Employee Welfare Benefit Tr Alexandria, VA | $13,170,209 | $41,773,256 |
United Church Insurance Company Inc Cleveland, OH | $53,498,153 | $36,904,277 |
Ssmhcs Liability Trust Mercantile Bank Ttee St Louis, MO | $216,786,212 | $51,161,074 |
Rush University Medical Centers Self-Insurance Trust For Healthcar Chicago, IL | $184,033,612 | $58,498,218 |
American United Life Insurance Company Welfare Benefits Trust Indianapolis, IN | $8,410,756 | $27,962,029 |
Hills Insurance Company Inc Mishawaka, IN | $233,016,594 | $7,136,194 |