Overview
What is Missouri Property Insurance Placement Facility?
The Missouri Property Insurance Placement Facility is a nonprofit entity, as mandated by state statute, that provides a vital service by underwriting commercial and residential fire and casualty insurance policies for individuals who struggle to secure coverage through conventional means. The facility's mission is to bridge the insurance gap, ensuring that businesses and homeowners in need have access to essential protection against property damage and related risks. By doing so, the Missouri Property Insurance Placement Facility plays a crucial role in safeguarding the financial wellbeing of its clients.
Official website here: www.missourifairplan.com
Is Missouri Property Insurance Placement Facility legitimate?
Missouri Property Insurance Placement Facility is a legitimate nonprofit organization registered as a 501(c)(6) entity. Missouri Property Insurance Placement Facility 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: $190,310
Professional Fundraising Fees: $0
Other Salaries and Wages: $213,587
For more financial information, click here
Official website here: www.missourifairplan.com
What is the mission statement of Missouri Property Insurance Placement Facility?
The Missouri Property Insurance Placement Facility, as required by state statute, provides commercial and habitational fire and casualty insurance policies for individuals who are unable to obtain coverage through conventional means. By underwriting these policies, the facility contributes to ensuring that property owners have the necessary protection against unforeseen incidents. The facility operates with the objective of bridging the insurance gap for those who may face challenges in securing coverage through traditional methods. This service is crucial in maintaining financial security and stability for those who might otherwise be left unprotected.
Official website here: www.missourifairplan.com
What is the revenue of Missouri Property Insurance Placement Facility?
Missouri Property Insurance Placement Facility's revenue in 2024 was $2,375,352.
Official website here: www.missourifairplan.com
Who are the executives of Missouri Property Insurance Placement Facility and what are their salaries?
The average compensation at Missouri Property Insurance Placement Facility during 2024 was $80,779. There are 5 employees at Missouri Property Insurance Placement Facility.
Here are 14 key members and their salaries:
- Compensation: $161,280
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Official website here: www.missourifairplan.com
Where can I find the form 990 for Missouri Property Insurance Placement Facility?
Missouri Property Insurance Placement Facility's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.missourifairplan.com
Learn more at the official website: www.missourifairplan.com
Mission Statement of Missouri Property Insurance Placement Facility
The Missouri Property Insurance Placement Facility, as mandated by state statute, takes on a critical role in the insurance sector. Its primary mission is to underwrite commercial and habitational fire and casualty insurance policies for individuals who find it challenging to secure coverage through conventional means. This facility serves as a safety net, ensuring that businesses and homeowners, who may otherwise be left unprotected, can obtain the necessary insurance coverage to shield them from potential losses due to fires or other casualties. By fulfilling this mission, the Missouri Property Insurance Placement Facility plays a crucial role in protecting the financial well-being of its clients and contributing to the stability of the communities they inhabit.
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Impact
October, 2024
The Missouri Property Insurance Placement Facility plays a crucial role in providing access to commercial and habitational fire and casualty insurance for individuals and businesses that struggle to secure coverage through traditional insurance markets. This facility addresses a significant gap in the insurance market, effectively ensuring that those deemed high-risk or facing unique challenges are not left uninsured.
By underwriting policies, the facility enables property owners and tenants to protect their assets and mitigate financial risks associated with fire and other casualties. This impact is especially vital in areas where conventional insurers may be reluctant to offer coverage due to perceived risks. Through its operations, the facility not only promotes financial stability for individuals and communities but also contributes to a broader sense of security by allowing businesses to operate without the looming threat of potential losses from unforeseen events. Overall, the Missouri Property Insurance Placement Facility enhances the availability of critical insurance products, fostering resilience within the state's economy and its residents.
This information is meant to be a general summary of Missouri Property Insurance Placement Facility. 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: $99,973
- Program Service Revenue: $2,253,499
- Gross Receipts: $2,375,352
Assets and Liabilities:
- Total Assets: $2,233,185
- Total Liabilities: $2,250,310
- Net Assets: -$17,125
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PREMIUMS WRITTEN
Revenue
$2,354,379
UNEARNED PREMIUM DECREASE
Revenue
-$100,880
Organization Details
Founding Year
1969
Principal Officer
Kirk W Schmidt
Website
www.missourifairplan.comNTEE Category
Code: Y20 - Mutual benefit
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