Leon Mutual Insurance Company

Nonprofit profile at a glance

EIN
416037077
IRS 990 coverage
2015–2018
Forms available
Form 990 2018
Location
Cannon Falls, MN, USA
Phone
5072635489
Rating confidence
Limited

Reported finances

Revenue
$359,640
Expenses
$490,679
Assets
$1,056,576
Liabilities
$300,541

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • CLIFFORD HANSON (PRESIDENT)
  • RODNEY WEBER (VICE-PRESIDENT)

Highest reported compensation

  • CLIFFORD HANSON (PRESIDENT): $876 total reported compensation
  • GARY THYREN (SECRETARY): $876 total reported compensation
  • TIM SUNDHEIM (DIRECTOR): $780 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. 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 2018

We have provided property insurance for our members per section 501(c)(15).number of members: 373policies in force: 210,727,444

Operating model

Revenue model
Earned-program. 92% 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: 77
  • Sustainability: 29
  • Growth: 20

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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -36.4%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 2.15; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.28; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 1.2%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -6.1% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: 2.8% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 8 of 8 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $876 · 8 people listed
  • Consistency: 10 of 10 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 3 filing years from 2015 to 2018
  • Contacts: How to reach this organization
  • Money network: 8 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.