Overview
What is Dakota-Stanton Mutual Insurance Company?
Dakota-Stanton Mutual Insurance Company, based in Farmington, Minnesota, serves as a nonprofit organization, adhering to the guidelines of section 501(c)(15). With a membership of 549 individuals, the company specializes in offering property insurance coverages, including fire and additional lines. The primary function of Dakota-Stanton Mutual Insurance Company is to process and pay claims for policyholder losses, ensuring financial protection for its members. The organization is staffed by a modest workforce of three individuals, working diligently to maintain and manage its insurance operations.
Official website here: www.dakotastanton.com
Is Dakota-Stanton Mutual Insurance Company legitimate?
Dakota-Stanton Mutual Insurance Company is a legitimate nonprofit organization registered as a 501(c)(15) entity. Dakota-Stanton 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: $17,496
Professional Fundraising Fees: $0
Other Salaries and Wages: $48,504
For more financial information, click here
Official website here: www.dakotastanton.com
What is the mission statement of Dakota-Stanton Mutual Insurance Company?
Dakota-Stanton Mutual Insurance Company's primary mission is to offer fire and additional lines of insurance coverage to its policyholders, ensuring they are financially protected in the event of losses. According to Internal Revenue Code Section 501(c)(15), the company adheres to this mission by writing insurance policies and processing claims for covered losses. The organization is committed to fulfilling this role, providing a safety net for its 549 members. The insurance coverage in force totals a substantial 459,994,917 dollars, demonstrating the company's extensive commitment to its policyholders.
Official website here: www.dakotastanton.com
Who is the CEO of Dakota-Stanton Mutual Insurance Company?
Orin Legare is the President of Dakota-Stanton Mutual Insurance Company.
Official website here: www.dakotastanton.com
What is the revenue of Dakota-Stanton Mutual Insurance Company?
Dakota-Stanton Mutual Insurance Company's revenue in 2021 was $506,916.
Official website here: www.dakotastanton.com
Who are the executives of Dakota-Stanton Mutual Insurance Company and what are their salaries?
The average compensation at Dakota-Stanton Mutual Insurance Company during 2021 was $22,000. There are 3 employees at Dakota-Stanton Mutual Insurance Company.
Here are 6 key members and their salaries:
- Compensation: $1,200
- Related: $0
- Other: $0
- Compensation: $600
- Related: $0
- Other: $0
- Compensation: $800
- Related: $0
- Other: $0
- Compensation: $13,596
- Related: $0
- Other: $38,905
- Compensation: $600
- Related: $0
- Other: $0
- Compensation: $400
- Related: $0
- Other: $0
Official website here: www.dakotastanton.com
Where can I find the form 990 for Dakota-Stanton Mutual Insurance Company?
Dakota-Stanton Mutual Insurance Company's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.dakotastanton.com
Learn more at the official website: www.dakotastanton.com
Mission Statement of Dakota-Stanton Mutual Insurance Company
Dakota-Stanton 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. This mission is reflected in its activities, where it writes policies and pays claims on covered policyholder losses. The company's primary goal is to offer protection against potential financial losses due to fire and related incidents, providing a sense of security to its 549 members. By adhering to this mission, Dakota-Stanton Mutual Insurance Company plays a vital role in safeguarding its members' properties, thereby contributing to their peace of mind.
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Impact
October, 2024
Dakota-Stanton Mutual Insurance Company plays a significant role in providing essential insurance coverage to its members, offering fire and additional lines insurance that safeguards their properties. With a robust membership of 549 individuals, the company has amassed insurance coverage in force totaling nearly $460 million. By fulfilling its mission to support policyholders through prompt claims payment for covered losses, the organization fosters a sense of security and community among its members in Farmington, MN. This mutual benefit model not only protects assets but also reinforces the importance of collective support within the community, ensuring members have reliable coverage when they need it most.
This information is meant to be a general summary of Dakota-Stanton 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 2021.
- Investment Income: $99,993
- Program Service Revenue: $406,923
- Gross Receipts: $606,916
Assets and Liabilities:
- Total Assets: $4,258,271
- Total Liabilities: $306,435
- Net Assets: $3,951,836
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Insurance Premium Inco
Revenue
$406,923
Organization Details
Founding Year
1903
Phone
(651) 460-2001Principal Officer
Orin Legare
Main Address
431 3rd St Ste 2 PO Box 393, Farmington, MN, 55024
Website
www.dakotastanton.comNTEE Category
Code: Y20 - Mutual benefit
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