Farmers Mutual Ins Co of Daviess Ctymo
Nonprofit profile at a glance
- EIN
- 440242600
- IRS 990 coverage
- 2012–2023
- Forms available
- Form 990 2023
- Location
- Gallatin, MO, USA
- Phone
- 6606633514
- Rating confidence
- Limited
Reported finances
- Revenue
- $378,110
- Expenses
- $467,973
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- JUDY HILEY (VICE PRESIDENT)
- STEPHEN REED (PRESIDENT)
Highest reported compensation
- KENNETH LOCKRIDGE (SECRETARY/TREASURER): $57,545 total reported compensation
- SHARON LOCKRIDGE (ASST. SEC/TREASURER): $1,625 total reported compensation
- JUDY HILEY (VICE PRESIDENT): $1,625 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Operation of a mutual insurance company
What it reported doing in 2023
All other accomplishments providing insurance protection for member/policyholders
Operating model
- Revenue model
- Earned-program. 87% 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: 77
- Accountability: 69
- Sustainability: 9
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 85.7%; rating input score 86; 3rd 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: 71.4%; rating input score 71; 19th 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: Pass
- 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: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -23.8%; rating input score 13; 13th percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 14.4%; rating input score 25; 25th percentile among comparable filings
Growth
- Program expense growth: -36.5% per year; rating input score 0; 3rd percentile among comparable filings
- Revenue growth: 1.4% per year; rating input score 100; 34th percentile among comparable filings
- Asset growth: -2.3% per year; rating input score 0; 18th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 5 of 7 board members independent · 6 of 9 filing controls reported
- Programs: 2 filed program accomplishments
- Leadership: top reported pay $58K · 7 people listed
- Consistency: 8 of 9 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Filing history: 12 filing years from 2012 to 2023
- 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 — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
- High — Sustainability: Operating margin scored 13/100.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- High — Growth: Program expense growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 1/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 25/100.