Stephenson County Mutual Insurance

Rock City, ILUnknown exempt organization EIN 36-1694846Revenue $432K in FY2023Latest return filed Mar 11, 2024

On file with the IRS108 N Main Street · Rock City, IL

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Mutual Insurance company

100¢ of each $1 spent went to programs.
$129K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
1 of 4
filings with a surplus
Average deficit $63K a year · 16% of revenue · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$129K
to officers and key staff · 30% of spending
Worth a look: pay to officers and key staff is 30% of spending; over 20%.
Pt VII · Sec A
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$432K
+16% vs prior year
Spent
$425K
To programs
100%
Net assets
$0
By yearFY2020–FY2023
Revenue
$432K
FY2023▲ +16%
Tap a bar for its year
Revenue by fiscal year
FY2020$396K
FY2021$374K
FY2022$372K
FY2023$432K
Expenses
$425K
FY2023▼ -5%
Tap a bar for its year
Expenses by fiscal year
FY2020$461K
FY2021$491K
FY2022$448K
FY2023$425K
Net assets
$0
FY2023▼ -100%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.5M
FY2021$1.4M
FY2022$1.3M
FY2023$0

From the FY2023 Form 990 · see the original

990 PDF Claim

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

100 cents of each dollar spent went to programs.

Program services 100% · $425K

Form 990 Part IX, line 25. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

8 people listed on the 990; $129K paid to officers and key staff.

Part VII, Section A · reportable compensation
Secretarytreasurer
$99,626Pt VII · Sec A
Director
$26,892Pt VII · Sec A
$450Pt VII · Sec A
President
$450Pt VII · Sec A
$375Pt VII · Sec A
$375Pt VII · Sec A
$375Pt VII · Sec A
Vice President
$375Pt VII · Sec A

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

NameFY2023FY2022FY2021FY2020
David Graybill$99,626$90,963$89,464$111,889
David Goeke$26,892$20,598$21,479—
Kevin Ludenking$450———
John Jeschke$450$300$300—
Merle Shoemarker$375———
Jeremiah Gordon$375———
Curtis Wilkens$375———
Tom Bicksler$375$300——

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 Stephenson County Mutual Insurance executive salaries →

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

Stephenson County Mutual Insurance is a nonprofit organization based in Rock City, IL.

Questions for Stephenson County Mutual Insurance

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1 program · $425K · in their own filed words · FY2023
01

The company is classified as a small farm mutual insurance company by the illinois department of insurance. The company writes fire and wind coverage in the surroduning counties of illinois.

$425Kprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$432K
Ln 12
Fees for servicesLn 2g$388K
Investment incomeLn 3$34K
Other incomeLn 4–11$10K
Money outPt IX
$425K
Ln 25
Programscol B$425K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
8
listed · VII A
PaidVII A8
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$388K
Investment incomeLn 3$34K
Other incomeLn 4–11$10K
Total revenueLn 12$432K
Assets in detailPt X, end of year
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 52
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Total assetsLn 16$1.3M$0
LiabilitiesLn 26−$2K$0
Net assetsLn 32$1.3M$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$32K$32K
Pay of current officers, directors and key staffLn 5$45K$45K
Pay of disqualified personsLn 6$75$75
Other salaries and wagesLn 7$27K$27K
Payroll taxesLn 10$6K$6K
Accounting feesLn 11c$6K$6K
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$2K$2K
OccupancyLn 16$6K$6K
Conferences, conventions and meetingsLn 19$3K$3K
InsuranceLn 23$12K$12K
Other expenses (24a–d)Ln 24$270K$270K
All other expensesLn 24e$12K$12K
Total functional expensesLn 25$425K$425K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest ViewingFiled with the IRS Mar 11, 2024 $432K$425K$6K$0 990 PDF
FY2022Filed with the IRS Nov 15, 2023 $372K$448K−$76K$1.3M 990 PDF
FY2021Filed with the IRS May 11, 2022 $374K$491K−$117K$1.4M 990 PDF
FY2020Filed with the IRS Jul 26, 2021 $396K$461K−$65K$1.5M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $431,562 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $345,594$387,666
I-10 Investment incomePrior year $20,467$33,863
I-11 Other revenuePrior year $6,319$10,033
I-12 Total revenuePrior year $372,380$431,562
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$31,717
I-15 Salaries and benefitsPrior year $146,518$78,504
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $301,669$315,273
I-18 Total expensesPrior year $448,187$425,494
I-19 Revenue less expensesPrior year −$75,807$6,068
Part VI · Governance 8 of 8 board members independent, 3 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $431,562 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $387,666$387,666
VIII-3 Investment incomeRelated to mission $33,863$33,863
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $10,033$10,033
VIII-12 Total revenueRelated to mission $431,562 · Unrelated business $0 · Excluded from tax $0$431,562
Part IX · Statement of functional expenses $425,494 across 13 lines filed
IX-4 Benefits paid to or for membersPrograms $31,717$31,717
IX-5 Pay of current officers, directors and key staffPrograms $45,300$45,300
IX-6 Pay of disqualified personsPrograms $75$75
IX-7 Other salaries and wagesPrograms $27,200$27,200
IX-10 Payroll taxesPrograms $5,929$5,929
IX-11c Accounting feesPrograms $5,920$5,920
IX-12 Advertising and promotionPrograms $3,483$3,483
IX-13 Office expensesPrograms $2,321$2,321
IX-16 OccupancyPrograms $6,482$6,482
IX-19 Conferences, conventions and meetingsPrograms $3,474$3,474
IX-23 InsurancePrograms $11,826$11,826
IX-24 Other expenses (24a–d)Programs $269,848$269,848
IX-24e All other expensesPrograms $11,919$11,919
IX-25 Total functional expensesPrograms $425,494 · Management $0 · Fundraising $0$425,494
Part X · Balance sheet $0 assets, 4 lines filed
X-16 Total assetsStart of year $1,324,184$0
X-26 Total liabilitiesStart of year −$1,518$0
X-32 Total net assets or fund balancesStart of year $1,325,702$0
X-33 Total liabilities and net assetsStart of year $1,324,184$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$431,562
XI-2 Total expenses$425,494
XI-3 Revenue less expenses$6,068
XI-4 Net assets at start of year$1,325,702
XI-8 Prior period adjustments−$192,425
XI-9 Other changes in net assets−$1,139,345
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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