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Widner Mutual Fire Ins Assn FY2021 filing

Freelandville, INUnknown exempt organization EIN 35-1066427Revenue $473K in FY2021

On file with the IRSPo Box 27 · Freelandville, IN

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

84¢ of each $1 spent went to programs.
$43K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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FY2021 · 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
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$43K
to officers and key staff · 16% of spending
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
27 mo
of spending, in cash
Plus $3.0M in investments, Pt X · Ln 11–13
Looks good: 27.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$157K
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
$473K
+18% vs prior year
Spent
$263K
To programs
84%
Net assets
$3.7M
By yearFY2020–FY2023
Revenue
$473K
FY2021▲ +18%
Tap a bar for its year
Revenue by fiscal year
FY2020$401K
FY2021$473K
FY2022$447K
FY2023$438K
Expenses
$263K
FY2021▼ -11%
Tap a bar for its year
Expenses by fiscal year
FY2020$297K
FY2021$263K
FY2022$315K
FY2023$263K
Net assets
$3.7M
FY2021▲ +6%
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 FY2021 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2021 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

84 cents of each dollar spent went to programs.

Program services 84% · $222K Management & general 16% · $41K

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

10 people listed on the 990; $43K paid to officers and key staff.

Part VII, Section A · reportable compensation
$38,090Pt VII · Sec A
Bruce Pepmeier
Vice Pres.
$1,200Pt VII · Sec A
$1,200Pt VII · Sec A
$375Pt VII · Sec A
$375Pt VII · Sec A
$375Pt VII · Sec A
Don Piper
Director
$375Pt VII · Sec A
Dennis Kahre
Director
$300Pt 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.

See Widner Mutual Fire Ins Assn executive salaries →

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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 · $222K · in their own filed words · FY2021
01

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

$222Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$473K
Ln 12
Fees for servicesLn 2g$262K
Investment incomeLn 3$211K
Money outPt IX
$263K
Ln 25
Programscol B$222K
Managementcol C$41K
Owns and owesPt X
$3.7M
net assets · Ln 32
Cash and savingsLn 1–2$598K
Total assetsLn 16$3.8M
LiabilitiesLn 26$157K
PeoplePt VI, VII
10
listed · VII A
PaidVII A9
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$262K
Investment incomeLn 3$211K
Total revenueLn 12$473K
Assets in detailPt X, end of year
CashLn 1$228K
SavingsLn 2$370K
Cash and savings togetherLn 1–2$598K
InvestmentsLn 11–13$3.0M
Land, buildings, equipmentLn 10c$512
Other assetsLn 15$3K
Total assetsLn 16$3.8M
LiabilitiesLn 26$157K
Net assetsLn 32$3.7M
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 FY21End FY21
Cash and savingsLn 1–2$669K$598K
InvestmentsLn 11–13$2.7M$3.0M
Land, buildings, equipmentLn 10c$537$512
Total assetsLn 16$3.6M$3.8M
LiabilitiesLn 26$152K$157K
Net assetsLn 32$3.5M$3.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$1K$1K
Pay of current officers, directors and key staffLn 5$43K$4K$38K
Other salaries and wagesLn 7$11K$11K
Payroll taxesLn 10$4K$774$3K
Legal feesLn 11b$8K$8K
Accounting feesLn 11c$2K$2K
Lobbying feesLn 11d$279$279
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$2K$2K
Information technologyLn 14$2K$2K
OccupancyLn 16$2K$2K
TravelLn 17$1K$1K
Depreciation, depletion and amortizationLn 22$26$26
InsuranceLn 23$6K$6K
Other expenses (24a–d)Ln 24$175K$175K
All other expensesLn 24e$4K$4K
Total functional expensesLn 25$263K$222K$41K$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 Viewing $473K$263K$210K$3.7M 990 PDF
FY2020 $401K$297K$104K$3.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $472,736 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $278,542$261,974
I-10 Investment incomePrior year $122,724$210,762
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $401,266$472,736
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$1,375
I-15 Salaries and benefitsPrior year $62,227$57,035
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $234,540$204,541
I-18 Total expensesPrior year $296,767$262,951
I-19 Revenue less expensesPrior year $104,499$209,785
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 $472,736 across 3 lines filed
Lines not itemized here account for $10 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $261,964$261,964
VIII-3 Investment incomeRelated to mission $210,762$210,762
VIII-12 Total revenueRelated to mission $472,736 · Unrelated business $0 · Excluded from tax $0$472,736
Part IX · Statement of functional expenses $262,951 across 16 lines filed
IX-4 Benefits paid to or for membersPrograms $1,375$1,375
IX-5 Pay of current officers, directors and key staffPrograms $4,425 · Management $38,090$42,515
IX-7 Other salaries and wagesPrograms $10,832$10,832
IX-10 Payroll taxesPrograms $774 · Management $2,914$3,688
IX-11b Legal feesPrograms $7,500$7,500
IX-11c Accounting feesPrograms $1,740$1,740
IX-11d Lobbying feesPrograms $279$279
IX-12 Advertising and promotionPrograms $3,388$3,388
IX-13 Office expensesPrograms $1,940$1,940
IX-14 Information technologyPrograms $1,574$1,574
IX-16 OccupancyPrograms $2,437$2,437
IX-17 TravelPrograms $1,035$1,035
IX-22 Depreciation, depletion and amortizationPrograms $26$26
IX-23 InsurancePrograms $5,603$5,603
IX-24 Other expenses (24a–d)Programs $175,429$175,429
IX-24e All other expensesPrograms $3,590$3,590
IX-25 Total functional expensesPrograms $221,947 · Management $41,004 · Fundraising $0$262,951
Part X · Balance sheet $3,820,124 assets, 13 lines filed
Asset lines not itemized here account for $187,500; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $112,311$227,500
X-2 Savings and temporary cash investmentsStart of year $556,581$370,342
X-10c Land, buildings and equipment, netStart of year $537$512
X-11 Publicly traded securitiesStart of year $2,713,940$3,030,978
X-15 Other assetsStart of year $15,457$3,292
X-16 Total assetsStart of year $3,622,326$3,820,124
X-17 Accounts payable and accrued expensesStart of year $28,254$28,893
X-19 Deferred revenueStart of year $122,538$125,623
X-25 Other liabilitiesStart of year $1,688$2,070
X-26 Total liabilitiesStart of year $152,480$156,586
X-27 Net assets without donor restrictionsStart of year $3,469,846$3,663,538
X-32 Total net assets or fund balancesStart of year $3,469,846$3,663,538
X-33 Total liabilities and net assetsStart of year $3,622,326$3,820,124
Part XI · Reconciliation of net assets $3,663,538 net assets at year end
XI-1 Total revenue$472,736
XI-2 Total expenses$262,951
XI-3 Revenue less expenses$209,785
XI-4 Net assets at start of year$3,469,846
XI-9 Other changes in net assets−$16,093
XI-10 Net assets at end of year$3,663,538

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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