Cokato Mutual Fire Insurance Company
Nonprofit profile at a glance
- EIN
- 410197630
- IRS 990 coverage
- 2015–2017
- Forms available
- Form 990 2017
- Location
- Maple Lake, MN, USA
- Phone
- 3209635859
- Rating confidence
- Limited
- Sector
- Insurance Providers
Reported finances
- Revenue
- $341,791
- Expenses
- $317,784
- Assets
- $1,060,217
- Liabilities
- $162,973
Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- Charles Ailie (President)
- Joey Berg (Vice President)
Highest reported compensation
- Charles Ailie (President): $1,525 total reported compensation
- Daniel Kyllonen (Secretary): $1,425 total reported compensation
- Glen Johnson (Treasurer): $900 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The company provides fire and additional lines insurance coverages to policyholders/members and pays claims on covered policyholder losses.
What it reported doing in 2017
We have provided property insurance for our members per section 501(c)(15).Number of members: 609Insurance in force: 286,690,182
Operating model
- Revenue model
- Earned-program. 91% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 90
- Accountability: 76
- Sustainability: 56
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- 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: 83.3%; rating input score 83; 21st percentile among comparable filings
- Governance controls: 6 of 9 controls in place; rating input score 67
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 7%; rating input score 58; 58th percentile among comparable filings
- Total-asset coverage ratio: 3.34; rating input score 71; 71st percentile among comparable filings
- Liabilities to assets ratio: 0.15; rating input score 28; 28th percentile among comparable filings
- Officer compensation ratio: 1.9%; rating input score 41; 41st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -6.3% per year; rating input score 0; 14th percentile among comparable filings
- Asset growth: -4% per year; rating input score 0; 19th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 5 of 6 board members independent · 6 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $2K · 6 people listed
- Consistency: 11 of 11 current checks pass
- Schedules: 3 filed schedules
- Filing history: 2 filing years from 2015 to 2017
- Contacts: How to reach this organization
- Money network: 6 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.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: 3 of 9 not reported.
- High — Growth: Asset growth scored 0/100.
- Review — Sustainability: Operating margin scored 58/100.
- High — Sustainability: Liabilities to assets ratio scored 28/100.
- Moderate — Sustainability: Officer compensation ratio scored 41/100.