Overview
What is American Mutual Share Insurance Corporation?
American Mutual Share Insurance Corporation (AMSI) is a member-owned, mutually organized share guarantee corporation based in Dublin, Ohio. They provide primary and excess share insurance to credit unions, acting as the nation's largest non-federal insurer of credit union deposits, as per Ohio Revised Code Section 1761. In 2022, approximately 123 credit unions in ten states received services from AMSI, insuring an estimated 1.4 million individual members. Their mission is to protect credit unions through primary and excess share insurance, ensuring the security and stability of their deposits.
Official website here: www.americanshare.com
What are the reviews and ratings of this charity?
The American Mutual Share Insurance Corporation is not currently rated by Charity Navigator due to its status as a non-501(c)(3) organization. Charity Navigator typically requires either an Accountability & Finance beacon or an Impact & Measurement beacon for an evaluation, but such assessment isn't possible for this entity. As such, its absence of a rating does not reflect either positively or negatively on the organization.
While historical ratings mainly focused on aspects akin to today's Accountability and Finance score, the American Mutual Share Insurance Corporation remains unevaluated under other aspects like Leadership & Adaptability and Impact & Measurement due to its non-501(c)(3) status. As an independent organization, its foundation status and affiliation are noted without further details on revenue, expenses, or salaries of key personnel.
With respect to GreatNonprofits, there are no user reviews available for the American Mutual Share Insurance Corporation. Consequently, no additional user-driven insights are provided about the organization's community impact or stakeholder perspectives.
This AI summary has been generated from information found on Charity Navigator.
Is American Mutual Share Insurance Corporation legitimate?
American Mutual Share Insurance Corporation is a legitimate nonprofit organization registered as a 501(c)(6) entity. American Mutual Share Insurance Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $2,682,056
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,415,742
For more financial information, click here
Official website here: www.americanshare.com
What is the mission statement of American Mutual Share Insurance Corporation?
American Mutual Share Insurance Corporation functions as a member-owned, mutually organized share guaranty corporation, dedicated to providing primary and excess share insurance exclusively to credit unions. In accordance with Ohio Revised Code Section 1761, the corporation serves approximately 123 credit unions in ten states, insuring an estimated 1.4 million individual members. As the nation's largest non-federal insurer of consumer deposits, American Mutual Share Insurance Corporation ensures the financial security of these credit unions, safeguarding the savings and assets of their members.
Official website here: www.americanshare.com
Who is the CEO of American Mutual Share Insurance Corporation?
Theresa M Mason is the President/Ceo (Begin 04/22) of American Mutual Share Insurance Corporation. The CEO's salary of American Mutual Share Insurance Corporation is $284,072 and their total compensation is $324,494.
Official website here: www.americanshare.com
What is the revenue of American Mutual Share Insurance Corporation?
American Mutual Share Insurance Corporation's revenue in 2022 was $14,373,728.
Official website here: www.americanshare.com
Who are the executives of American Mutual Share Insurance Corporation and what are their salaries?
The average compensation at American Mutual Share Insurance Corporation during 2022 was $136,593. There are 30 employees at American Mutual Share Insurance Corporation.
Here are 18 key members and their salaries (American Mutual Share Insurance Corporation's CEO's salary is $284,072 and their total compensation is $324,494):
- Compensation: $824,316
- Related: $0
- Other: $47,500
- Compensation: $29,600
- Related: $0
- Other: $0
- Compensation: $24,000
- Related: $0
- Other: $0
- Compensation: $24,000
- Related: $0
- Other: $0
- Compensation: $22,000
- Related: $0
- Other: $0
- Compensation: $21,500
- Related: $0
- Other: $0
- Compensation: $21,500
- Related: $0
- Other: $0
- Compensation: $9,300
- Related: $0
- Other: $0
- Compensation: $292,893
- Related: $0
- Other: $78,244
- Compensation: $284,072
- Related: $0
- Other: $40,422
- Compensation: $336,269
- Related: $0
- Other: $31,504
- Compensation: $264,312
- Related: $0
- Other: $53,857
- Compensation: $220,017
- Related: $0
- Other: $56,750
- Compensation: $170,456
- Related: $0
- Other: $36,278
- Compensation: $167,842
- Related: $0
- Other: $23,298
- Compensation: $163,677
- Related: $0
- Other: $19,457
- Compensation: $158,733
- Related: $0
- Other: $18,969
- Compensation: $122,115
- Related: $0
- Other: $17,062
Official website here: www.americanshare.com
Where can I find the form 990 for American Mutual Share Insurance Corporation?
American Mutual Share Insurance Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.americanshare.com
Learn more at the official website: www.americanshare.com
Mission Statement of American Mutual Share Insurance Corporation
American Mutual Share Insurance Corporation, or ASI, is a member-owned and mutually organized share guarantee corporation that provides primary and excess share insurance exclusively to credit unions. In accordance with Ohio Revised Code Section 1761, this non-federal insurer plays a vital role in safeguarding consumer deposits in credit unions.
ASI's mission revolves around insuring the deposits of credit unions to ensure financial security for their members. As the largest non-federal insurer of consumer deposits in the nation, it offers protection to approximately 123 member credit unions across ten states. This protection extends to an estimated 1.4 million individual members, all of whom rely on their credit unions for essential financial services. By providing this critical insurance service, ASI helps maintain the stability and trustworthiness of the credit union system.
The corporation's role is not only to secure the financial future of credit unions and their members but also to function as a mutual organization. This means that ASI is owned and controlled by its member credit unions, who share in the governance and decision-making processes. This unique structure fosters a collaborative and supportive environment where the needs of credit unions and their depositors are prioritized. By working together, ASI and its member credit unions can continue to serve their communities and provide essential financial services with confidence.
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Impact
October, 2024
The American Mutual Share Insurance Corporation (ASI) plays a crucial role in safeguarding the financial interests of credit union members by providing primary and excess share (deposit) insurance. Under Ohio Revised Code Section 1761, ASI operates as a member-owned, mutually organized share guaranty corporation, ensuring that credit unions are equipped with reliable insurance coverage for their depositors.
In 2022, ASI served approximately 123 member credit unions across 10 states, covering an estimated 1.4 million individual members. This significant outreach emphasizes ASI's impact on promoting consumer confidence within the credit union sector, especially in non-federal insurance markets. As the nation's largest non-federal insurer of consumer deposits, ASI enhances the financial stability of credit unions and ensures that members have peace of mind knowing their deposits are protected.
By providing essential support to credit unions, ASI not only helps mitigate risks associated with deposit-taking but also fosters a secure environment that encourages savings and investment among credit union members. This mutual benefit structure aligns with ASI's mission, reinforcing the importance of community-focused, member-centric financial services.
This information is meant to be a general summary of American Mutual Share Insurance Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $4,188,804
- Gross Receipts: $22,670,365
Assets and Liabilities:
- Total Assets: $346,716,309
- Total Liabilities: $24,033,446
- Net Assets: $322,682,863
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Organization Details
Founding Year
1974
Phone
(614) 764-1900Principal Officer
Theresa M Mason
Main Address
5656 FRANTZ ROAD, DUBLIN, OH, 430172599
Website
www.americanshare.comNTEE Category
Code: Y20 - Mutual benefit
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