Overview
What is Garfield Farmers Mutual Fire Insurance Company?
Garfield Farmers Mutual Fire Insurance Company is a nonprofit organization situated in Fertile, Minnesota. With a focus on rural communities, they offer property casualty insurance coverage for farmers and homeowners, adhering to IRC Section 501(c)(15) and Minnesota statute 67A. As of the provided data, they have served 384 members, ensuring a total insurance coverage of $164,410,069. The company operates with a modest workforce of just three employees, dedicated to providing essential insurance services in their community.
Is Garfield Farmers Mutual Fire Insurance Company legitimate?
Garfield Farmers Mutual Fire Insurance Company is a legitimate nonprofit organization registered as a 501(c)(15) entity. Garfield Farmers Mutual Fire 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: $38,695
Professional Fundraising Fees: $0
Other Salaries and Wages: $19,496
For more financial information, click here
What is the mission statement of Garfield Farmers Mutual Fire Insurance Company?
Garfield Farmers Mutual Fire Insurance Company's mission is centered around providing property casualty insurance coverage for farmers and homeowners residing in rural areas. This is done in compliance with IRC Section 501(c)(15) and Minnesota statute 67A. The organization's primary objective is to safeguard the properties of its members, offering them peace of mind. As of the provided information, the company has insured 384 members, with a total insurance coverage of $164,410,069.
Who is the CEO of Garfield Farmers Mutual Fire Insurance Company?
Greg Webster is the President of Garfield Farmers Mutual Fire Insurance Company.
What is the revenue of Garfield Farmers Mutual Fire Insurance Company?
Garfield Farmers Mutual Fire Insurance Company's revenue in 2022 was $260,621.
Who are the executives of Garfield Farmers Mutual Fire Insurance Company and what are their salaries?
The average compensation at Garfield Farmers Mutual Fire Insurance Company during 2022 was $19,397. There are 3 employees at Garfield Farmers Mutual Fire Insurance Company.
Here are 7 key members and their salaries:
- Compensation: $35,795
- Related: $0
- Other: $0
- Compensation: $1,100
- Related: $0
- Other: $0
- Compensation: $600
- Related: $0
- Other: $0
- Compensation: $300
- Related: $0
- Other: $0
- Compensation: $300
- Related: $0
- Other: $0
- Compensation: $300
- Related: $0
- Other: $0
- Compensation: $300
- Related: $0
- Other: $0
Where can I find the form 990 for Garfield Farmers Mutual Fire Insurance Company?
Garfield Farmers Mutual Fire Insurance Company's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Garfield Farmers Mutual Fire Insurance Company
Garfield Farmers Mutual Fire Insurance Company, as a nonprofit organization, is dedicated to providing property casualty insurance coverage for farmers and homeowners residing in rural areas of Minnesota. Operating under IRC Section 501(c)(15) and Minnesota statute 67A, this company serves as a vital resource for individuals living in these rural communities. Its primary mission is to safeguard the properties of its members, offering them financial protection against various risks associated with farming and homeownership. The company has successfully insured 384 members, with a total insurance coverage of $164,410,069 in force, demonstrating its commitment to its mission.
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Impact
October, 2024
Garfield Farmers Mutual Fire Insurance Company plays a vital role in rural Minnesota by providing essential property casualty insurance coverage for farmers and homeowners. Serving 384 members, the organization has established significant financial protection with $164,410,069 in insurance coverage currently in force. By focusing on the unique needs of rural communities, Garfield Farmers Mutual helps to safeguard homes and agricultural properties, ensuring that members can navigate risks while maintaining stability and peace of mind. Its commitment to mutual benefit strengthens community resilience and supports the livelihoods of individuals in Fertile and surrounding areas.
This information is meant to be a general summary of Garfield Farmers Mutual Fire 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: $14,219
- Program Service Revenue: $242,502
- Gross Receipts: $410,621
Assets and Liabilities:
- Total Assets: $891,401
- Total Liabilities: $113,363
- Net Assets: $778,038
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Premium Income
Revenue
$240,157
Premium Refunds
Revenue
$2,345
Organization Details
Founding Year
1891
Principal Officer
Greg Webster
Main Address
PO Box 116, Fertile, MN, 56540
NTEE Category
Code: Y20 - Mutual benefit
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