Overview
What is Local Farmers Mutual Fire & Lightning Insurance Co?
Local Farmers Mutual Fire and Lightning Insurance Co is a mutual insurance company, established to serve its clients effectively. Based on the provided information, this organization specializes in offering insurance protection against potential fire and lightning losses. As a mutual company, it operates with a client-centric approach, meaning its clients are also its owners. While it is classified as a mutual insurance company, it does not share the same characteristics as traditional nonprofit organizations, such as having a mission to contribute to society beyond financial gains. Instead, its mission revolves around providing reliable insurance solutions to its client-owners.
Is Local Farmers Mutual Fire & Lightning Insurance Co legitimate?
Local Farmers Mutual Fire & Lightning Insurance Co is a legitimate nonprofit organization registered as a 501(c)(15) entity. Local Farmers Mutual Fire & Lightning Insurance Co 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: $30,342
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Local Farmers Mutual Fire & Lightning Insurance Co?
Local Farmers Mutual Fire and Lightning Insurance Co functions as a mutual insurance company, providing insurance services to its clients. Its primary mission is to offer protection against fire and lightning damages. The company operates on a mutual basis, meaning its policyholders are also its owners, sharing in the company's profits and losses. By providing insurance solutions against fire and lightning losses, Local Farmers Mutual Fire and Lightning Insurance Co aims to provide peace of mind and financial security to its clients. The company's operations are centered around this mutual insurance concept, ensuring its clients are well-protected against unforeseen circumstances.
Who is the CEO of Local Farmers Mutual Fire & Lightning Insurance Co?
Bonnie Billman is the Secretary of Local Farmers Mutual Fire & Lightning Insurance Co.
What is the revenue of Local Farmers Mutual Fire & Lightning Insurance Co?
Local Farmers Mutual Fire & Lightning Insurance Co's revenue in 2022 was $126,015.
Who are the executives of Local Farmers Mutual Fire & Lightning Insurance Co and what are their salaries?
The average compensation at Local Farmers Mutual Fire & Lightning Insurance Co during 2022 was $30,342. There is 1 employee at Local Farmers Mutual Fire & Lightning Insurance Co.
Here are 10 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Local Farmers Mutual Fire & Lightning Insurance Co?
Local Farmers Mutual Fire & Lightning Insurance Co's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Local Farmers Mutual Fire & Lightning Insurance Co
Local Farmers Mutual Fire & Lightning Insurance Co, functioning as a mutual insurance company, is dedicated to serving its clients by offering insurance solutions. Its primary focus is on protecting against losses caused by fire and lightning. By operating on a mutual basis, the company ensures that its clients are its stakeholders, sharing in both the risks and the benefits. This structure fosters a sense of community among its clients, as they collectively contribute to and benefit from the company's operations. The company's mission is to provide reliable insurance services, safeguarding its clients' properties against the destructive forces of fire and lightning.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Local Farmers Mutual Fire & Lightning Insurance Co plays a significant role in its community by providing essential insurance services that protect individuals and businesses from fire and lightning losses. Based in Osgood, Indiana, this mutual insurance company operates with a mission focused on delivering reliable coverage tailored to the needs of its clients.
By offering these specialized insurance solutions, Local Farmers Mutual helps mitigate the financial risks associated with unexpected disasters, contributing to the economic stability of the region. The mutual model fosters a sense of community, as policyholders benefit collectively from the organization’s success and sound financial management. This approach not only enhances the resilience of local families and businesses but also strengthens the overall community by promoting shared responsibility and support among its members.
In summary, the impact of Local Farmers Mutual Fire & Lightning Insurance Co extends beyond just insurance coverage; it fosters a culture of mutual benefit, security, and community solidarity in the face of potential losses.
This information is meant to be a general summary of Local Farmers Mutual Fire & Lightning Insurance Co. 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: $6,663
- Gross Receipts: $146,436
Assets and Liabilities:
- Total Assets: $511,728
- Total Liabilities: $40,676
- Net Assets: $471,052
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
1863
Phone
(812) 852-2355Principal Officer
Bonnie Billman
Main Address
1172 W COUNTY RD 700 N, OSGOOD, IN, 47037
NTEE Category
Code: Y20 - Mutual benefit
If you are a representative of Local Farmers Mutual Fire & Lightning Insurance Co and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.