Widner Mutual Fire Ins Assn FY2020 filing

Freelandville, INUnknown exempt organizationEIN 35-1066427Revenue $401K in FY2020

On file with the IRSPo Box 27 · Freelandville, IN

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The entity is a 501(c)(15)Mutual insurance company

87¢ of each $1 spent went to programs.
$52K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $155K a year · 35% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$52K
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
27 mo
of spending, in cash
Looks good: 27.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$152K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$401K
Spent
$297K
To programs
87%
Net assets
$3.5M
By yearFY2020–FY2023
Revenue
$401K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$401K
FY2021$473K
FY2022$447K
FY2023$438K
Expenses
$297K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$297K
FY2021$263K
FY2022$315K
FY2023$263K
Net assets
$3.5M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$3.5M
FY2021$3.7M
FY2022$3.8M
FY2023$4.0M

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $258K Management & general 13% · $39K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990; $52K paid to officers and key staff.

Part VII, Section A · reportable compensation
$36,053Pt VII · Sec A
Key Employee
$8,603Pt VII · Sec A
Key Employee
$2,498Pt VII · Sec A
$1,200Pt VII · Sec A
Vice Pres.
$1,200Pt VII · Sec A
Director
$450Pt VII · Sec A
$450Pt VII · Sec A
$375Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2023FY2022FY2021FY2020
Cynthia Schuckman$900$39,296$38,090$36,053
Michael Leydet———$8,603
William Albrecht$2,775$1,200$1,200$1,200
Rhett Moody———$2,498
Bruce Pepmeier$1,950$1,200$1,200$1,200
Dennis Kahre$1,250$150$300$375
Don Piper$1,200$450$375$450
Byron Harting$1,200$225——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides insurance coverage to its members.

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Provided by the organization

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1 program · $297K · in their own filed words · FY2020
01

To provide lower cost fire and wind insurance coverage for the community of freelandville, indiana

$297Kprogram expense

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$401K
Ln 12
Fees for servicesLn 2g$279K
Investment incomeLn 3$123K
Money outPt IX
$297K
Ln 25
Programscol B$258K
Managementcol C$39K
Owns and owesPt X
$3.5M
net assets · Ln 32
Cash and savingsLn 1–2$669K
Total assetsLn 16$3.6M
LiabilitiesLn 26$152K
PeoplePt VI, VII
13
listed · VII A
PaidVII A13
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$279K
Investment incomeLn 3$123K
Total revenueLn 12$401K
Assets in detailPt X, end of year
CashLn 1$112K
SavingsLn 2$557K
Cash and savings togetherLn 1–2$669K
InvestmentsLn 11–13$2.7M
Land, buildings, equipmentLn 10c$537
Other assetsLn 15$15K
Total assetsLn 16$3.6M
LiabilitiesLn 26$152K
Net assetsLn 32$3.5M
OperationsPt I, VI
EmployeesI 54
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$1.0M$669K
InvestmentsLn 11–13$2.2M$2.7M
Land, buildings, equipmentLn 10c$563$537
Total assetsLn 16$3.5M$3.6M
LiabilitiesLn 26$162K$152K
Net assetsLn 32$3.4M$3.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$52K$16K$36K
Other salaries and wagesLn 7$4K$4K
Payroll taxesLn 10$6K$4K$3K
Accounting feesLn 11c$1K$1K
Lobbying feesLn 11d$698$698
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$4K$4K
Information technologyLn 14$1K$1K
OccupancyLn 16$7K$7K
Travel and entertainment for public officialsLn 18$1K$1K
Depreciation, depletion and amortizationLn 22$26$26
InsuranceLn 23$7K$7K
Other expenses (24a–d)Ln 24$170K$170K
All other expensesLn 24e$40K$40K
Total functional expensesLn 25$297K$258K$39K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest $438K$263K$174K$4.0M 990 PDF
FY2022 $447K$315K$133K$3.8M 990 PDF
FY2021 $473K$263K$210K$3.7M 990 PDF
FY2020 Viewing $401K$297K$104K$3.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $401,266 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $264,454$278,542
I-10 Investment incomePrior year $143,796$122,724
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $408,250$401,266
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $50,493$62,227
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $174,461$234,540
I-18 Total expensesPrior year $224,954$296,767
I-19 Revenue less expensesPrior year $183,296$104,499
Part VI · Governance 9 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $401,266 across 3 lines filed
Lines not itemized here account for $3,032 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $275,510$275,510
VIII-3 Investment incomeRelated to mission $122,724$122,724
VIII-12 Total revenueRelated to mission $401,266 · Unrelated business $0 · Excluded from tax $0$401,266
Part IX · Statement of functional expenses $296,767 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $16,376 · Management $36,053$52,429
IX-7 Other salaries and wagesPrograms $3,518$3,518
IX-10 Payroll taxesPrograms $3,522 · Management $2,758$6,280
IX-11c Accounting feesPrograms $1,325$1,325
IX-11d Lobbying feesPrograms $698$698
IX-12 Advertising and promotionPrograms $2,220$2,220
IX-13 Office expensesPrograms $4,445$4,445
IX-14 Information technologyPrograms $1,425$1,425
IX-16 OccupancyPrograms $6,869$6,869
IX-18 Travel and entertainment for public officialsPrograms $1,160$1,160
IX-22 Depreciation, depletion and amortizationPrograms $26$26
IX-23 InsurancePrograms $6,683$6,683
IX-24 Other expenses (24a–d)Programs $169,872$169,872
IX-24e All other expensesPrograms $39,817$39,817
IX-25 Total functional expensesPrograms $257,956 · Management $38,811 · Fundraising $0$296,767
Part X · Balance sheet $3,622,326 assets, 13 lines filed
Asset lines not itemized here account for $223,500; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $257,171$112,311
X-2 Savings and temporary cash investmentsStart of year $749,089$556,581
X-10c Land, buildings and equipment, netStart of year $563$537
X-11 Publicly traded securitiesStart of year $2,239,241$2,713,940
X-15 Other assetsStart of year $15,362$15,457
X-16 Total assetsStart of year $3,520,926$3,622,326
X-17 Accounts payable and accrued expensesStart of year $44,911$28,254
X-19 Deferred revenueStart of year $115,292$122,538
X-25 Other liabilitiesStart of year $1,866$1,688
X-26 Total liabilitiesStart of year $162,069$152,480
X-27 Net assets without donor restrictionsStart of year $3,358,857$3,469,846
X-32 Total net assets or fund balancesStart of year $3,358,857$3,469,846
X-33 Total liabilities and net assetsStart of year $3,520,926$3,622,326
Part XI · Reconciliation of net assets $3,469,846 net assets at year end
XI-1 Total revenue$401,266
XI-2 Total expenses$296,767
XI-3 Revenue less expenses$104,499
XI-4 Net assets at start of year$3,358,857
XI-9 Other changes in net assets$6,490
XI-10 Net assets at end of year$3,469,846

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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