Overview
What is Hamel Mutual Insurance Company?
Hamel Mutual Insurance Company is a small, specialized insurance firm situated in Hamel, Illinois. As classified by the Illinois Department of Insurance, their primary focus is on offering fire and wind coverage to the surrounding counties. With a mission to adhere to the guidelines set by the Illinois Department of Professional Regulation, Hamel Mutual Insurance Company provides essential protection services in these regions. The company's modest workforce consists of only two dedicated individuals.
Is Hamel Mutual Insurance Company legitimate?
Hamel Mutual Insurance Company is a legitimate nonprofit organization registered as a 501(c)(15) entity. Hamel 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: $30,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $38,748
For more financial information, click here
What is the mission statement of Hamel Mutual Insurance Company?
Hamel Mutual Insurance Company's mission is centered around providing fire and wind coverage within the specified guidelines set by the Illinois Department of Professional Regulation. Operating as a small farm mutual insurance company, as classified by the Illinois Department of Insurance, the company extends its coverage to the surrounding counties in Illinois, focusing primarily on fire and wind-related risks.
Who is the CEO of Hamel Mutual Insurance Company?
Wayne Ruehrup is the President of Hamel Mutual Insurance Company.
What is the revenue of Hamel Mutual Insurance Company?
Hamel Mutual Insurance Company's revenue in 2022 was $399,111.
Who are the executives of Hamel Mutual Insurance Company and what are their salaries?
The average compensation at Hamel Mutual Insurance Company during 2022 was $34,374. There are 2 employees at Hamel Mutual Insurance Company.
Here are 8 key members and their salaries:
- Compensation: $30,000
- Related: $0
- Other: $0
- Compensation: $1,050
- 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 Hamel Mutual Insurance Company?
Hamel Mutual Insurance Company's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hamel Mutual Insurance Company
Hamel Mutual Insurance Company, classified as a small farm mutual insurance company by the Illinois Department of Insurance, is dedicated to providing fire and wind coverage within the surrounding counties, as per the guidelines set by the Illinois Department of Professional Regulation. The company's mission is to offer protection and security against potential property damage caused by fire and natural disasters, adhering to the regulations established by the aforementioned departments. By focusing on these specific coverages, Hamel Mutual Insurance Company aims to safeguard the interests of its clients in the surrounding counties of Illinois.
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Impact
October, 2024
Hamel Mutual Insurance Company plays a vital role in the financial security of communities in its surrounding counties. By providing fire and wind coverage, the company helps to protect homes, farms, and businesses from the devastating effects of natural disasters. This service is crucial, especially in areas prone to severe weather events.
As a small farm mutual insurance company, Hamel Mutual Insurance is rooted in the community, offering personalized support and a deep understanding of local needs. By aligning its operations with regulations set by the Illinois Department of Professional Regulation, the company ensures that it adheres to industry standards while maintaining a focus on mutual benefit for its policyholders.
The company’s commitment to its mission not only enhances community resilience but also fosters a sense of security among residents, allowing them to focus on their daily lives and livelihoods without the constant worry of uninsured losses. Through its services, Hamel Mutual Insurance Company strengthens the fabric of the local economy, encouraging growth and sustainability in the regions it serves.
This information is meant to be a general summary of Hamel 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: $13,021
- Program Service Revenue: $386,090
- Gross Receipts: $399,111
Assets and Liabilities:
- Total Assets: $889,920
- Total Liabilities: $213,218
- Net Assets: $676,702
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PREMIUMS
Revenue
$363,302
POLICY FEES
Revenue
$22,788
Organization Details
Founding Year
1872
Principal Officer
Wayne Ruehrup
Main Address
PO BOX 7, HAMEL, IL, 62046
NTEE Category
Code: Y20 - Mutual benefit
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