Hancock County Assessment FY2023 filing

Not tax-deductible

Hawesville, KYMutual-benefit / member-servingSince 1912Mutual / membership EIN 61-0504098Revenue $128K in FY2023

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.
$25K 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
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
$25K
to officers and key staff · 19% of spending
Fine: pay to officers and key staff is 19% of spending; 15% to 20%.
Pt VII · Sec A
7 mo
of spending, in cash
Plus $721K in investments, Pt X · Ln 11–13
Looks good: 7.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$17K
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
$128K
+11% vs prior year
Spent
$134K
To programs
100%
Net assets
$787K
By yearFY2020–FY2025
Revenue
$128K
FY2023▲ +11%
Tap a bar for its year
Revenue by fiscal year
FY2020$115K
FY2021$119K
FY2022$115K
FY2023$128K
FY2024$156K
FY2025$173K
Expenses
$134K
FY2023▲ +79%
Tap a bar for its year
Expenses by fiscal year
FY2020$90K
FY2021$122K
FY2022$75K
FY2023$134K
FY2024$129K
FY2025$125K
Net assets
$787K
FY2023▲ +10%
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 FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 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% · $134K

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; $25K paid to officers and key staff.

Part VII, Section A · reportable compensation
Secretary
$17,025Pt VII · Sec A
Director
$1,525Pt VII · Sec A
$1,300Pt VII · Sec A
President
$1,125Pt VII · Sec A
$625Pt VII · Sec A
Director
$625Pt VII · Sec A
$625Pt VII · Sec A
Director
$550Pt 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 · $134K · in their own filed words · FY2023
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.

$134Kprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$128K
Ln 12
Fees for servicesLn 2g$89K
Investment incomeLn 3$39K
Money outPt IX
$134K
Ln 25
Programscol B$134K
Owns and owesPt X
$787K
net assets · Ln 32
Cash and savingsLn 1–2$81K
Total assetsLn 16$804K
LiabilitiesLn 26$17K
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$89K
Investment incomeLn 3$39K
Gains on assetsLn 7$10K
Total revenueLn 12$128K
Assets in detailPt X, end of year
CashLn 1$31K
SavingsLn 2$50K
Cash and savings togetherLn 1–2$81K
InvestmentsLn 11–13$721K
Total assetsLn 16$804K
LiabilitiesLn 26$17K
Net assetsLn 32$787K
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 FY23End FY23
Cash and savingsLn 1–2$92K$81K
InvestmentsLn 11–13$672K$721K
Total assetsLn 16$764K$804K
LiabilitiesLn 26$5K$17K
Net assetsLn 32$758K$787K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$25K$25K
Payroll taxesLn 10$2K$2K
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$2K$2K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$160$160
OccupancyLn 16$9K$9K
Payments to affiliatesLn 21$64K$64K
InsuranceLn 23$456$456
Other expenses (24a–d)Ln 24$30K$30K
Total functional expensesLn 25$134K$134K$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 Viewing $128K$134K−$7K$787K 990 PDF
FY2022 $115K$75K$40K$718K 990 PDF
FY2021 $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 FY2023 990 (6 parts)
Part I · Summary $127,703 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $85,574$89,062
I-10 Investment incomePrior year $29,193$38,641
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $114,767$127,703
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 $27,348$27,365
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $47,629$106,954
I-18 Total expensesPrior year $74,977$134,319
I-19 Revenue less expensesPrior year $39,790−$6,616
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 $127,703 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $89,062$89,062
VIII-3 Investment incomeRelated to mission $28,589$28,589
VIII-7 Net gain or loss on sales of assetsRelated to mission $10,052$10,052
VIII-12 Total revenueRelated to mission $127,703 · Unrelated business $0 · Excluded from tax $0$127,703
Part IX · Statement of functional expenses $134,319 across 10 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $25,450$25,450
IX-10 Payroll taxesPrograms $1,915$1,915
IX-11b Legal feesPrograms $1,163$1,163
IX-11c Accounting feesPrograms $1,500$1,500
IX-12 Advertising and promotionPrograms $1,257$1,257
IX-13 Office expensesPrograms $160$160
IX-16 OccupancyPrograms $8,897$8,897
IX-21 Payments to affiliatesPrograms $63,913$63,913
IX-23 InsurancePrograms $456$456
IX-24 Other expenses (24a–d)Programs $29,608$29,608
IX-25 Total functional expensesPrograms $134,319 · Management $0 · Fundraising $0$134,319
Part X · Balance sheet $804,143 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $30,969$31,236
X-2 Savings and temporary cash investmentsStart of year $61,069$50,170
X-4 Accounts receivable$1,686
X-11 Publicly traded securitiesStart of year $671,743$721,051
X-16 Total assetsStart of year $763,781$804,143
X-17 Accounts payable and accrued expensesStart of year $5,459$16,659
X-26 Total liabilitiesStart of year $5,459$16,659
X-27 Net assets without donor restrictionsStart of year $758,322$787,484
X-32 Total net assets or fund balancesStart of year $758,322$787,484
X-33 Total liabilities and net assetsStart of year $763,781$804,143
Part XI · Reconciliation of net assets $787,484 net assets at year end
XI-1 Total revenue$127,703
XI-2 Total expenses$134,319
XI-3 Revenue less expenses−$6,616
XI-4 Net assets at start of year$758,322
XI-5 Net unrealized gains (losses) on investments$35,778
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$787,484

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

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