Overview
What is Shible Mutual Fire Insurance Company?
Shible Mutual Fire Insurance Company is a nonprofit organization, specifically categorized under Section 501(C)(15), with its headquarters located at 36 N Miles Street, Appleton, Minnesota. This organization specializes in providing property insurance coverage to its members, covering various types of losses as per the Internal Revenue Code Section 501C(15). Currently, the company boasts a membership base of 468 individuals. The company's mission revolves around writing fire and additional insurance coverages, and it fulfills its commitment by settling claims on covered policyholder losses. With a modest workforce of one employee, Shible Mutual Fire Insurance Company offers security and protection to its members in the face of property-related losses.
Is Shible Mutual Fire Insurance Company legitimate?
Shible Mutual Fire Insurance Company is a legitimate nonprofit organization registered as a 501(c)(15) entity. Shible 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: $84,639
Professional Fundraising Fees: $0
Other Salaries and Wages: $27,362
For more financial information, click here
What is the mission statement of Shible Mutual Fire Insurance Company?
Shible Mutual Fire Insurance Company is dedicated to providing fire and additional lines of insurance coverages. Their primary role involves paying claims for covered policyholder losses, adhering to the guidelines set by IRC Section 501C(15). The company's mission can be interpreted as ensuring financial protection for its members in the event of property losses due to fire or other covered incidents. They operate with a focus on meeting the insurance needs of their 468 members.
What is the revenue of Shible Mutual Fire Insurance Company?
Shible Mutual Fire Insurance Company's revenue in 2024 was $427,390.
Who are the executives of Shible Mutual Fire Insurance Company and what are their salaries?
The average compensation at Shible Mutual Fire Insurance Company during 2024 was $112,001. There is 1 employee at Shible Mutual Fire Insurance Company.
Here are 6 key members and their salaries:
- Compensation: $76,012
- Related: $0
- Other: $0
- Compensation: $1,400
- Related: $0
- Other: $113
- Compensation: $900
- Related: $0
- Other: $362
- Compensation: $1,100
- Related: $0
- Other: $67
- Compensation: $900
- Related: $0
- Other: $96
- Compensation: $900
- Related: $0
- Other: $16
Where can I find the form 990 for Shible Mutual Fire Insurance Company?
Shible Mutual Fire Insurance Company's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Shible Mutual Fire Insurance Company
Shible Mutual Fire Insurance Company, as a nonprofit organization under IRC Section 501(C)(15), is dedicated to providing fire and additional lines of insurance coverages. This mission is centered around paying claims on covered policyholder losses. The company's role is to safeguard its members by offering property insurance, thereby offering financial assistance in the event of insured losses. With a membership of 468 individuals, Shible Mutual Fire Insurance Company plays a significant role in providing peace of mind and financial security to its members in the face of potential property losses due to fire or other covered events.
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Impact
October, 2024
Shible Mutual Fire Insurance Company plays a vital role in providing financial security and peace of mind for its members by offering comprehensive fire and additional lines of insurance coverage. Based in Appleton, MN, the company serves a community of 468 members, ensuring that they are protected against potential losses related to property.
By fulfilling its mission of writing insurance policies and paying claims on covered losses, Shible Mutual Fire Insurance contributes to the stability of its members' financial well-being. The organization helps mitigate the risks associated with property ownership, thereby fostering a sense of security within the community. This mutual benefit approach not only aids individual members but also strengthens the overall resilience of the community against unforeseen events.
This information is meant to be a general summary of Shible 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 2024.
- Investment Income: $37,543
- Program Service Revenue: $394,970
- Gross Receipts: $632,513
Assets and Liabilities:
- Total Assets: $1,388,483
- Total Liabilities: $282,421
- Net Assets: $1,106,062
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
Revenue
$394,970
Organization Details
Founding Year
1986
Principal Officer
Dan Smith
NTEE Category
Code: Y20 - Mutual benefit
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