Overview
What is German Farmers Mutual Fire Insurance Company?
German Farmers Mutual Fire Insurance Company is a nonprofit organization situated in Scandia, Minnesota. With a focus on rural communities, this organization offers property casualty insurance coverage to farmers and homeowners, adhering to IRC Section 501(c)(15) and Minnesota statute 67A. As of the provided data, they have insured 226 members, amounting to a significant coverage of $201,405,947. The company operates with a modest workforce of just two employees.
Is German Farmers Mutual Fire Insurance Company legitimate?
German Farmers Mutual Fire Insurance Company is a legitimate nonprofit organization registered as a 501(c)(15) entity. German 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: $77,850
Professional Fundraising Fees: $0
Other Salaries and Wages: $591
For more financial information, click here
What is the mission statement of German Farmers Mutual Fire Insurance Company?
The German Farmers Mutual Fire Insurance Company is dedicated to offering property casualty insurance coverage for farmers and homeowners residing in rural areas, adhering to IRC Section 501(c)(15) and Minnesota statute 67A. The organization's primary objective is to provide essential insurance protection, catering specifically to this niche market. As of now, they have insured 226 members, with a total insurance coverage of $201,405,947. The company's mission, in essence, is to safeguard the properties and assets of rural farmers and homeowners, ensuring peace of mind in the face of potential risks.
Who is the CEO of German Farmers Mutual Fire Insurance Company?
David W Krueger is the President of German Farmers Mutual Fire Insurance Company.
What is the revenue of German Farmers Mutual Fire Insurance Company?
German Farmers Mutual Fire Insurance Company's revenue in 2022 was $296,311.
Who are the executives of German Farmers Mutual Fire Insurance Company and what are their salaries?
The average compensation at German Farmers Mutual Fire Insurance Company during 2022 was $39,220. There are 2 employees at German Farmers Mutual Fire Insurance Company.
Here are 6 key members and their salaries:
- Compensation: $75,350
- Related: $0
- Other: $0
- Compensation: $1,550
- Related: $0
- Other: $0
- Compensation: $350
- Related: $0
- Other: $0
- Compensation: $300
- Related: $0
- Other: $0
- Compensation: $200
- Related: $0
- Other: $0
- Compensation: $100
- Related: $0
- Other: $0
Where can I find the form 990 for German Farmers Mutual Fire Insurance Company?
German Farmers Mutual Fire Insurance Company's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of German Farmers Mutual Fire Insurance Company
German Farmers Mutual Fire Insurance Company, as an organization, is dedicated to providing property casualty insurance coverage for farmers and homeowners residing in rural areas. This commitment is outlined in IRC Section 501(c)(15) and Minnesota statute 67A. The company's mission is centered around ensuring financial security for its members in the event of property-related losses. By offering insurance coverage, German Farmers Mutual Fire Insurance Company plays a vital role in safeguarding the assets of its rural Minnesota community. The company's services have benefited 226 members, with a total insurance coverage of $201,405,947 in force. This data highlights the company's commitment to and impact on its clientele, demonstrating its importance in providing a safety net for rural farmers and homeowners.
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
The German Farmers Mutual Fire Insurance Company significantly impacts the rural communities of Minnesota by providing essential property casualty insurance coverage for farmers and homeowners. With a membership of 226 individuals and a total of $201,405,947 in insurance coverage, the organization plays a crucial role in safeguarding the investments and assets of its members. This support helps to enhance their financial security and stability, allowing them to focus on their agricultural operations and home ownership without the constant fear of potential losses from unforeseen events. By catering specifically to the needs of rural residents, the company fosters a sense of community and mutual benefit, reinforcing the resilience of these local economies.
This information is meant to be a general summary of German 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: $8,586
- Program Service Revenue: $287,725
- Gross Receipts: $296,311
Assets and Liabilities:
- Total Assets: $1,296,887
- Total Liabilities: $89,630
- Net Assets: $1,207,257
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Premium Income
Revenue
$281,841
Premium Refunds
Revenue
$5,884
Organization Details
Founding Year
1867
Principal Officer
David W Krueger
Main Address
PO Box 189, Scandia, MN, 55073
NTEE Category
Code: Y20 - Mutual benefit
If you are a representative of German Farmers Mutual Fire Insurance Company 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.