Hancock County Assessment FY2021 filing

Not tax-deductible

Hawesville, KYMutual-benefit / member-servingSince 1912Mutual / membership EIN 61-0504098Revenue $119K in FY2021

On file with the IRSPo Box 174, 42348-0174 · Hawesville, KYTax-exempt since Dec 1944

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The dues and assessments of the premium is to create a fund to pay all losses of the policy holder as well as the expense of the company. Interest received is used for the same as dues.

100¢ of each $1 spent went to programs.
$38K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $22K a year · 16% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 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
$38K
to officers and key staff · 31% of spending
Concern: pay to officers and key staff is 31% of spending; over 30%.
Pt VII · Sec A
8 mo
of spending, in cash
Plus $605K in investments, Pt X · Ln 11–13
Looks good: 8.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$16K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$119K
+4% vs prior year
Spent
$122K
To programs
100%
Net assets
$678K
By yearFY2020–FY2025
Revenue
$119K
FY2021▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2020$115K
FY2021$119K
FY2022$115K
FY2023$128K
FY2024$156K
FY2025$173K
Expenses
$122K
FY2021▲ +36%
Tap a bar for its year
Expenses by fiscal year
FY2020$90K
FY2021$122K
FY2022$75K
FY2023$134K
FY2024$129K
FY2025$125K
Net assets
$678K
FY2021▲ +0.6%
Tap a bar for its year
Net assets by fiscal year
FY2020$674K
FY2021$678K
FY2022$718K
FY2023$787K
FY2024$840K
FY2025$928K

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 (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1944.

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% · $122K

Form 990 Part IX, line 25. 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; $38K paid to officers and key staff.

Part VII, Section A · reportable compensation
$16,150Pt VII · Sec A
$16,150Pt VII · Sec A
President
$1,050Pt VII · Sec A
$600Pt VII · Sec A
Vice-President
$600Pt VII · Sec A
$550Pt VII · Sec A
$550Pt VII · Sec A
Director
$500Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Natalie Jackson—$550$475$3,025$16,150$17,050
Amy Singleton$16,800$16,800$17,025$15,825$16,150—
Gary Baker$1,075$925$1,525$850$600$750
Jarrod Chappell$925$850$1,300$700$600$550
James Hagman$1,125$1,125$1,125$1,125$1,050—
James V Hagman—————$1,050
Ronnie Vandgrift$625$625$550$550$550$550
Dallas Powers$625$625$625$625$550$550

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

Pools member payments to cover policyholder losses and company expenses.

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Provided by the organization

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1 program · $122K · in their own filed words · FY2021
01

The dues and assessments of the premium is to create a fund to pay all losses of the policy holder as well as the expense of the company. Interest received is used for the same as dues.

$122Kprogram expense

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$119K
Ln 12
Fees for servicesLn 2g$84K
Investment incomeLn 3$35K
Other incomeLn 4–11$32
Money outPt IX
$122K
Ln 25
Programscol B$122K
Owns and owesPt X
$678K
net assets · Ln 32
Cash and savingsLn 1–2$82K
Total assetsLn 16$694K
LiabilitiesLn 26$16K
PeoplePt VI, VII
13
listed · VII A
PaidVII A12
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$84K
Investment incomeLn 3$35K
Other incomeLn 4–11$32
Total revenueLn 12$119K
Assets in detailPt X, end of year
CashLn 1$24K
SavingsLn 2$58K
Cash and savings togetherLn 1–2$82K
InvestmentsLn 11–13$605K
Total assetsLn 16$694K
LiabilitiesLn 26$16K
Net assetsLn 32$678K
OperationsPt I, VI
EmployeesI 51
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$103K$82K
InvestmentsLn 11–13$573K$605K
Total assetsLn 16$677K$694K
LiabilitiesLn 26$2K$16K
Net assetsLn 32$674K$678K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$37K$37K
Payroll taxesLn 10$1K$1K
Accounting feesLn 11c$1K$1K
Other fees for servicesLn 11g$6K$6K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$3K$3K
OccupancyLn 16$6K$6K
Payments to affiliatesLn 21$55K$55K
InsuranceLn 23$484$484
Other expenses (24a–d)Ln 24$11K$11K
Total functional expensesLn 25$122K$122K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $173K$125K$49K$928K 990 PDF
FY2024 $156K$129K$27K$840K 990 PDF
FY2023 $128K$134K−$7K$787K 990 PDF
FY2022 $115K$75K$40K$718K 990 PDF
FY2021 Viewing $119K$122K−$3K$678K 990 PDF
FY2020 $115K$90K$25K$674K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $118,833 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $95,593$84,139
I-10 Investment incomePrior year $19,096$34,662
I-11 Other revenuePrior year $32$32
I-12 Total revenuePrior year $114,721$118,833
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 $25,204$38,929
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $64,665$83,073
I-18 Total expensesPrior year $89,869$122,002
I-19 Revenue less expensesPrior year $24,852−$3,169
Part VI · Governance 12 of 12 board members independent, 4 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
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 $118,833 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $84,139$84,139
VIII-3 Investment incomeRelated to mission $34,662$34,662
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $32$32
VIII-12 Total revenueRelated to mission $118,833 · Unrelated business $0 · Excluded from tax $0$118,833
Part IX · Statement of functional expenses $122,002 across 10 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $37,450$37,450
IX-10 Payroll taxesPrograms $1,479$1,479
IX-11c Accounting feesPrograms $1,100$1,100
IX-11g Other fees for servicesPrograms $6,381$6,381
IX-12 Advertising and promotionPrograms $1,418$1,418
IX-13 Office expensesPrograms $2,526$2,526
IX-16 OccupancyPrograms $5,500$5,500
IX-21 Payments to affiliatesPrograms $54,554$54,554
IX-23 InsurancePrograms $484$484
IX-24 Other expenses (24a–d)Programs $11,110$11,110
IX-25 Total functional expensesPrograms $122,002 · Management $0 · Fundraising $0$122,002
Part X · Balance sheet $693,709 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $48,046$23,917
X-2 Savings and temporary cash investmentsStart of year $55,433$58,211
X-4 Accounts receivable$6,600
X-11 Publicly traded securitiesStart of year $573,097$604,981
X-16 Total assetsStart of year $676,576$693,709
X-17 Accounts payable and accrued expensesStart of year $2,396$15,605
X-26 Total liabilitiesStart of year $2,396$15,605
X-27 Net assets without donor restrictionsStart of year $674,180$678,104
X-32 Total net assets or fund balancesStart of year $674,180$678,104
X-33 Total liabilities and net assetsStart of year $676,576$693,709
Part XI · Reconciliation of net assets $678,104 net assets at year end
XI-1 Total revenue$118,833
XI-2 Total expenses$122,002
XI-3 Revenue less expenses−$3,169
XI-4 Net assets at start of year$674,180
XI-9 Other changes in net assets$7,093
XI-10 Net assets at end of year$678,104

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

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