Overview
What is Germantown Mutual Insurance Company?
Germantown Mutual Insurance Company is a mutual insurance organization situated in Germantown, Illinois. With a focus on community service, they offer fire and wind coverage in the surrounding counties, in accordance with the guidelines set by the Illinois Department of Professional Regulation. This company, staffed by a team of two dedicated individuals, aims to provide comprehensive insurance solutions to meet the needs of its clientele in the specified areas.
Is Germantown Mutual Insurance Company legitimate?
Germantown Mutual Insurance Company is a legitimate nonprofit organization registered as a 501(c)(15) entity. Germantown 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: $19,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $10,944
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What is the mission statement of Germantown Mutual Insurance Company?
Germantown Mutual Insurance Company's mission is centered around providing fire and wind coverage within the regions it is authorized to operate, as outlined by the Illinois Department of Professional Regulation. In essence, the company's objective is to safeguard homes and properties against these natural calamities, adhering to the guidelines set forth by the regulatory body. By offering this coverage, the company aims to contribute to the peace of mind and security of its clients in the surrounding areas.
Who is the CEO of Germantown Mutual Insurance Company?
Thomas Hemker is the President of Germantown Mutual Insurance Company.
What is the revenue of Germantown Mutual Insurance Company?
Germantown Mutual Insurance Company's revenue in 2022 was $257,119.
Who are the executives of Germantown Mutual Insurance Company and what are their salaries?
The average compensation at Germantown Mutual Insurance Company during 2022 was $14,972. There are 2 employees at Germantown Mutual Insurance Company.
Here are 7 key members and their salaries:
- Compensation: $56,510
- Related: $0
- Other: $0
- Compensation: $500
- Related: $0
- Other: $0
- Compensation: $500
- Related: $0
- Other: $0
- Compensation: $500
- Related: $0
- Other: $0
- Compensation: $500
- Related: $0
- Other: $0
- Compensation: $300
- Related: $0
- Other: $0
- Compensation: $100
- Related: $0
- Other: $0
Where can I find the form 990 for Germantown Mutual Insurance Company?
Germantown Mutual Insurance Company's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Germantown Mutual Insurance Company
Germantown Mutual Insurance Company, as a mutual insurance company, is dedicated to providing essential fire and wind coverage in the surrounding counties, in accordance with the guidelines set by the Illinois Department of Professional Regulation. The company's mission is centered around this mandate, aiming to safeguard properties and livelihoods in the designated areas by offering comprehensive insurance coverage against fire and wind-related damage. By adhering to the regulations established by the Illinois Department of Professional Regulation, Germantown Mutual Insurance Company ensures it operates within a framework that prioritizes the protection of its policyholders and upholds the highest standards of insurance practice.
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Impact
October, 2024
Germantown Mutual Insurance Company plays a crucial role in the economic and social stability of the surrounding counties in Illinois by providing essential fire and wind coverage. This assistance is vital for property protection, helping individuals and businesses mitigate potential financial losses from natural disasters.
By offering insurance specifically tailored to the needs of the community, Germantown Mutual Insurance Company fosters a sense of security among residents, enabling them to invest in their homes and businesses with confidence. The coverage they provide is mandated by the Illinois Department of Professional Regulation, ensuring that it meets industry standards and best practices.
Moreover, the company contributes to the local economy by supporting community resilience and recovery after adverse events. With its focus on mutual benefit, Germantown Mutual Insurance Company emphasizes strong relationships with its policyholders, ensuring their needs are met while promoting a sense of shared responsibility within the community.
This information is meant to be a general summary of Germantown 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: $27,858
- Program Service Revenue: $227,718
- Gross Receipts: $339,083
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PREMIUMS
Revenue
$207,635
POLICY FEES
Revenue
$20,083
Organization Details
Founding Year
1878
Principal Officer
Thomas Hemker
Main Address
PO BOX 331, GERMANTOWN, IL, 62245
NTEE Category
Code: Y20 - Mutual benefit
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