Overview
What is First Farm Mutual Insurance Company?
First Farm Mutual Insurance Company is a nonprofit organization located in Seymour, Indiana. Established in the state's south central region, the company specializes in insuring the property of its members, including farm buildings, homes, furniture, mowers, and mobile homes in rural areas. With a focus on protecting assets from damage by fire, lightning, or wind, First Farm Mutual Insurance Company operates in four counties, holding 382 active insurance policies in 2022. The small team of three dedicated employees works tirelessly to ensure the well-being of their community.
Is First Farm Mutual Insurance Company legitimate?
First Farm Mutual Insurance Company is a legitimate nonprofit organization registered as a 501(c)(15) entity. First Farm Mutual Insurance Company 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: $35,331
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,336
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What is the mission statement of First Farm Mutual Insurance Company?
First Farm Mutual Insurance Company's mission is centered around protecting its members' assets. Specifically, it aims to safeguard their properties from potential losses due to fire, lightning, or wind. Operating in various rural areas, the company insures a wide range of belongings, including farm buildings, furniture, homes, mowers, and mobile homes. In essence, its primary objective is to provide financial security and peace of mind to its members in the event of such calamities.
Who is the CEO of First Farm Mutual Insurance Company?
Milton Stuckwisch is the President of First Farm Mutual Insurance Company.
What is the revenue of First Farm Mutual Insurance Company?
First Farm Mutual Insurance Company's revenue in 2022 was $297,546.
Who are the executives of First Farm Mutual Insurance Company and what are their salaries?
The average compensation at First Farm Mutual Insurance Company during 2022 was $12,889. There are 3 employees at First Farm Mutual Insurance Company.
Here are 7 key members and their salaries:
- Compensation: $6,038
- Related: $0
- Other: $0
- Compensation: $2,800
- Related: $0
- Other: $0
- Compensation: $6,562
- Related: $0
- Other: $0
- Compensation: $10,103
- Related: $0
- Other: $0
- Compensation: $2,851
- Related: $0
- Other: $0
- Compensation: $2,868
- Related: $0
- Other: $0
- Compensation: $4,109
- Related: $0
- Other: $0
Where can I find the form 990 for First Farm Mutual Insurance Company?
First Farm Mutual Insurance Company's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of First Farm Mutual Insurance Company
First Farm Mutual Insurance Company is committed to safeguarding the property of its members. Their primary mission is to provide insurance coverage to protect members' assets from potential losses due to fire, lightning, or wind. Through their insurance policies, they offer financial security and peace of mind to their members, ensuring their rural properties, such as farm buildings, homes, furniture, mowers, and mobile homes, are shielded from these natural elements' destructive forces. In 2022, the company maintained 382 active insurance policies, demonstrating their dedication to delivering on their promise of protection and security.
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Impact
October, 2024
First Farm Mutual Insurance Company plays a crucial role in safeguarding the livelihoods of its members in South Central Indiana. By providing insurance against losses from fire, lightning, and wind, the company helps protect valuable property, including farm buildings, furniture, homes, mowers, and mobile homes in rural areas. This coverage is vital for its members, offering peace of mind and financial security.
Operating in four counties, First Farm Mutual Insurance Company's reach extends to a diverse community, with 382 insurance policies in force as of 2022. Through its dedicated service, the company not only mitigates the risks associated with property ownership but also fosters a sense of community resilience. The assurance that their properties are protected allows members to focus on their daily activities and investments without the constant worry of potential losses.
This information is meant to be a general summary of First Farm Mutual Insurance Company. 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: $7,691
- Program Service Revenue: $289,959
- Gross Receipts: $334,932
Assets and Liabilities:
- Total Assets: $899,456
- Total Liabilities: $461
- Net Assets: $898,995
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DUES AND ASSESSMENTS
Revenue
$247,049
REINSURANCE PROCEEDS
Revenue
$42,910
Organization Details
Founding Year
1966
Phone
(812) 522-5448Principal Officer
Milton Stuckwisch
Main Address
760 NORTH 500 EAST, SEYMOUR, IN, 47274
NTEE Category
Code: Y20 - Mutual benefit
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