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McMinn County Farmers Mutual

IRS exemption revoked

Athens, TNUnknown exempt organizationEIN 62-0289023Revenue $361K in FY2020

On file with the IRSmcminnfarmersmutual.comPo Box 321 · Athens, TN

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To provide property insurance to our membership.

$29K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$29K
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
15 mo
of spending, in cash
Looks good: 15.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$184K
37% of total assets
Looks good: liabilities are 37% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 9 voting members
Concern: none of 9 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$361K
Spent
$335K
To programs
0%
Net assets
$314K

From the FY2020 Form 990 · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on May 15, 2024

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2020.

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

Who runs it and what they're paid

8 people listed on the 990; $29K paid to officers and key staff.

Part VII, Section A · reportable compensation
$25,000Pt VII · Sec A
Jimmy Small
President
$3,600Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
John Gambill
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See McMinn County Farmers Mutual 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

Offers property insurance to its members.

Questions for McMinn County Farmers Mutual

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Property insurance provided to our membership.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$361K
Ln 12
Fees for servicesLn 2g$297K
Other incomeLn 4–11$59K
Investment incomeLn 3$6K
Money outPt IX
$335K
Ln 25
Owns and owesPt X
$314K
net assets · Ln 32
Cash and savingsLn 1–2$421K
Total assetsLn 16$499K
LiabilitiesLn 26$184K
PeoplePt VI, VII
8
listed · VII A
PaidVII A2
Voting boardVI 1a9
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$297K
Investment incomeLn 3$6K
Other incomeLn 4–11$59K
Total revenueLn 12$361K
Assets in detailPt X, end of year
CashLn 1$106K
SavingsLn 2$315K
Cash and savings togetherLn 1–2$421K
Land, buildings, equipmentLn 10c$128K
Other assetsLn 15−$50K
Total assetsLn 16$499K
LiabilitiesLn 26$184K
Net assetsLn 32$314K
OperationsPt I, VI
EmployeesI 54
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 FY20End FY20
Cash and savingsLn 1–2$404K$421K
Land, buildings, equipmentLn 10c$133K$128K
Total assetsLn 16$488K$499K
LiabilitiesLn 26$117K$184K
Net assetsLn 32$370K$314K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$69K
Other salaries and wagesLn 7$26K
Payroll taxesLn 10$7K
Advertising and promotionLn 12$31K
OccupancyLn 16$15K
InsuranceLn 23$8K
Other expenses (24a–d)Ln 24$122K
All other expensesLn 24e$57K
Total functional expensesLn 25$335K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest Viewing $361K$335K$26K$314K 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 FY2020 990 (6 parts)
Part I · Summary $361,430 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $244,074$296,895
I-10 Investment incomePrior year $4,448$6,021
I-11 Other revenuePrior year $40,268$58,514
I-12 Total revenuePrior year $288,790$361,430
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $113,130$101,830
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $183,786$233,484
I-18 Total expensesPrior year $296,916$335,314
I-19 Revenue less expensesPrior year −$8,126$26,116
Part VI · Governance 0 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members0
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 $361,430 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $296,895$296,895
VIII-3 Investment incomeRelated to mission $6,021$6,021
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,851 · Unrelated business $54,663$58,514
VIII-12 Total revenueRelated to mission $306,767 · Unrelated business $54,663$361,430
Part IX · Statement of functional expenses $335,314 across 8 lines filed
IX-5 Pay of current officers, directors and key staff$68,600
IX-7 Other salaries and wages$25,993
IX-10 Payroll taxes$7,237
IX-12 Advertising and promotion$30,626
IX-16 Occupancy$15,104
IX-23 Insurance$8,192
IX-24 Other expenses (24a–d)$122,296
IX-24e All other expenses$57,266
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$335,314
Part X · Balance sheet $498,804 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $93,159$106,095
X-2 Savings and temporary cash investmentsStart of year $310,401$315,024
X-10c Land, buildings and equipment, netStart of year $133,034$127,511
X-15 Other assetsStart of year −$48,848−$49,826
X-16 Total assetsStart of year $487,746$498,804
X-17 Accounts payable and accrued expensesStart of year $1,699$1,702
X-25 Other liabilitiesStart of year $115,738$182,623
X-26 Total liabilitiesStart of year $117,437$184,325
X-27 Net assets without donor restrictionsStart of year $370,309$314,479
X-32 Total net assets or fund balancesStart of year $370,309$314,479
X-33 Total liabilities and net assetsStart of year $487,746$498,804
Part XI · Reconciliation of net assets $314,479 net assets at year end
XI-1 Total revenue$361,430
XI-2 Total expenses$335,314
XI-3 Revenue less expenses$26,116
XI-4 Net assets at start of year$370,309
XI-9 Other changes in net assets−$81,946
XI-10 Net assets at end of year$314,479

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

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