Overview
What is Vernon Edda Mutual Fire Insurance Company?
Vernon Edda Mutual Fire Insurance Company is a nonprofit organization, specifically classified under section 501(c)(15), primarily based in Hayfield, Minnesota. With a membership of 319 individuals, this company specializes in offering property insurance coverage. Their main objective is to provide fire and additional lines of insurance to their policyholders, ensuring they receive financial assistance in the event of any covered losses. The company's operations are managed by a small team of one employee, and they have insured properties to the tune of 247,985,152.
Official website here: www.none
Is Vernon Edda Mutual Fire Insurance Company legitimate?
Vernon Edda Mutual Fire Insurance Company is a legitimate nonprofit organization registered as a 501(c)(15) entity. Vernon Edda 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: $13,150
Professional Fundraising Fees: $0
Other Salaries and Wages: $40,000
For more financial information, click here
Official website here: www.none
What is the mission statement of Vernon Edda Mutual Fire Insurance Company?
The Vernon Edda Mutual Fire Insurance Company is dedicated to offering fire and additional lines of insurance coverage to its policyholders or members. Should any insured losses occur, the company is committed to processing and paying out claims accordingly. In essence, the company's mission is to safeguard its members' properties by providing comprehensive insurance protection.
Official website here: www.none
Who is the CEO of Vernon Edda Mutual Fire Insurance Company?
Kirk Linbo is the President of Vernon Edda Mutual Fire Insurance Company.
Official website here: www.none
What is the revenue of Vernon Edda Mutual Fire Insurance Company?
Vernon Edda Mutual Fire Insurance Company's revenue in 2022 was $331,418.
Official website here: www.none
Who are the executives of Vernon Edda Mutual Fire Insurance Company and what are their salaries?
The average compensation at Vernon Edda Mutual Fire Insurance Company during 2022 was $53,150. There is 1 employee at Vernon Edda Mutual Fire Insurance Company.
Here are 7 key members and their salaries:
- Compensation: $1,790
- Related: $0
- Other: $0
- Compensation: $1,760
- Related: $0
- Other: $0
- Compensation: $2,080
- Related: $0
- Other: $0
- Compensation: $1,600
- Related: $0
- Other: $0
- Compensation: $1,760
- Related: $0
- Other: $0
- Compensation: $2,080
- Related: $0
- Other: $0
- Compensation: $2,080
- Related: $0
- Other: $0
Official website here: www.none
Learn more at the official website: www.none
Mission Statement of Vernon Edda Mutual Fire Insurance Company
Vernon Edda Mutual Fire Insurance Company is dedicated to providing fire and additional lines of insurance coverage to its policyholders and members. This mission is fulfilled by offering insurance policies and processing claims for covered policyholder losses. The company's primary goal is to provide financial protection to its members in the event of property damage caused by fire or other specified perils. By offering insurance coverages, Vernon Edda Mutual Fire Insurance Company aims to alleviate the financial burden and stress that policyholders may face in the event of a loss. The company's commitment to its members extends beyond claims processing, as it also ensures that the necessary insurance coverage is in place to protect their properties and assets.
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Impact
October, 2024
Vernon Edda Mutual Fire Insurance Company significantly impacts its members by offering essential fire and additional lines insurance coverage, thereby enhancing their financial security in times of need. With a robust membership of 319 individuals, the company has underwritten insurance policies totaling an impressive $247,985,152. This substantial insurance in force ensures that members are protected against potential losses, fostering a sense of safety and stability within the community.
The company's mission centers on providing reliable insurance services that meet the specific needs of its policyholders. By efficiently processing claims related to covered losses, Vernon Edda Mutual Fire Insurance Company aids in the recovery process for its members, helping them to rebuild and restore their properties after devastating events. This commitment to service not only supports individual members in their times of crisis but also reinforces community resilience as a whole.
Ultimately, the cooperative model of Vernon Edda Mutual Fire Insurance Company promotes mutual benefit, demonstrating a strong community-oriented approach to risk management and financial protection. It stands as a vital resource for residents in Hayfield, MN, ensuring that when the unexpected occurs, members can count on their insurance to provide essential support.
This information is meant to be a general summary of Vernon Edda 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: $67,969
- Program Service Revenue: $263,449
- Gross Receipts: $829,048
Assets and Liabilities:
- Total Assets: $2,233,249
- Total Liabilities: $193,366
- Net Assets: $2,039,883
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Net Earned Premium
Revenue
$263,449
Organization Details
Founding Year
1874
Phone
(507) 365-8824Principal Officer
Kirk Linbo
Main Address
25167 720th St, Hayfield, MN, 55940
Website
www.noneNTEE Category
Code: Y20 - Mutual benefit
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