Clark Mutual Insurance Company

Nonprofit profile at a glance

EIN
430266040
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Kahoka, MO, USA
Phone
6607272177
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$559,967
Expenses
$562,707
Assets
$1,966,926
Liabilities
$349,814

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • JOHN D HUFFMAN (PRESIDENT)

Highest reported compensation

  • AMANDA ROSS (SEC/TREAS/DI): $106,508 total reported compensation
  • JOHN D HUFFMAN (PRESIDENT): $550 total reported compensation
  • GILBERT KATTELMANN (VICE PRESIDE): $550 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide insurance for our customers on farm property and residential property at a competitive price and to provide superior customer service in all aspects of business underwriting, claim and policy issuance.

Operating model

Revenue model
Earned-program. 87% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 20th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -0.5%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 3.5; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 19.5%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 69% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 9.6% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 1.7% per year; rating input score 100; 24th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 6 of 7 board members independent · 3 of 9 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $107K · 7 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 34/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.