Overview
What is Rice County Mutual Insurance Company?
Rice County Mutual Insurance Company is a nonprofit organization, specifically categorized under Section 501(c)(15), based in Faribault, Minnesota. With a membership of 500 individuals, the company offers property insurance coverage and processes claims for covered policyholder losses in various fire and additional lines. Their mission is to protect and provide financial assistance to their members in times of need, thereby ensuring peace of mind and security. The company is headquartered at 23 3rd Street NW, Faribault, MN, 55021, and employs a total of 1 staff member.
Official website here: www.none
Is Rice County Mutual Insurance Company legitimate?
Rice County Mutual Insurance Company is a legitimate nonprofit organization registered as a 501(c)(15) entity. Rice County 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: $61,306
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.none
What is the mission statement of Rice County Mutual Insurance Company?
Rice County Mutual Insurance Company is dedicated to offering fire and additional lines insurance coverages to its policyholders. The organization fulfills this commitment by processing and settling claims for covered policyholder losses, in accordance with IRC Section 501(c)(15). The company's primary goal is to protect and support its members by providing them with the necessary insurance coverage and financial assistance during times of loss. With a membership of 500 individuals and insurance in force amounting to 263,403,270, Rice County Mutual Insurance Company stands as a reliable resource for its policyholders.
Official website here: www.none
Who is the CEO of Rice County Mutual Insurance Company?
Howard Schoenfeld is the President of Rice County Mutual Insurance Company.
Official website here: www.none
What is the revenue of Rice County Mutual Insurance Company?
Rice County Mutual Insurance Company's revenue in 2022 was $320,407.
Official website here: www.none
Who are the executives of Rice County Mutual Insurance Company and what are their salaries?
The average compensation at Rice County Mutual Insurance Company during 2022 was $61,306. There is 1 employee at Rice County Mutual Insurance Company.
Here are 6 key members and their salaries:
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- Compensation: $52,896
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- Other: $5,600
Official website here: www.none
Learn more at the official website: www.none
Mission Statement of Rice County Mutual Insurance Company
Rice County Mutual Insurance Company, as a nonprofit organization under IRC Section 501(c)(15), is dedicated to providing fire and additional lines of insurance coverages to its members. Its primary mission is to process and pay out claims on covered policyholder losses. The company understands the importance of protecting its policyholders' properties and works diligently to ensure that any losses are appropriately addressed and compensated. With a membership of 500 individuals, Rice County Mutual Insurance Company has an Insurance in Force of 263,403,270, demonstrating its commitment to providing comprehensive coverage and support to its members.
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Impact
October, 2024
Rice County Mutual Insurance Company plays a significant role in providing essential fire and additional lines insurance coverage to its community members. Based in Faribault, Minnesota, the organization serves approximately 500 members, ensuring that they have protection against various risks associated with property loss.
With a substantial insurance portfolio totaling over $263 million in force, Rice County Mutual Insurance Company effectively supports its policyholders by paying claims for covered losses, thereby promoting financial security and stability within the community. The company’s mission is centered on delivering reliable insurance services that benefit its members, reflecting a commitment to mutual benefit and community resilience. Through its focused approach to risk management and claims support, the organization fosters a sense of trust and reliability among its members.
This information is meant to be a general summary of Rice County 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: $91,428
- Program Service Revenue: $228,979
- Gross Receipts: $415,885
Assets and Liabilities:
- Total Assets: $4,428,534
- Total Liabilities: $135,178
- Net Assets: $4,293,356
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Annual Premiums
Revenue
$228,979
Organization Details
Founding Year
1895
Phone
(507) 334-8145Principal Officer
Howard Schoenfeld
Main Address
23 3rd Street NW, Faribault, MN, 550210000
Website
www.noneNTEE Category
Code: Y20 - Mutual benefit
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