Lookingglass Mutual Insurance Co

Nonprofit profile at a glance

EIN
370690611
IRS 990 coverage
2010–2012
Forms available
Form 990 2012
Location
New Baden, IL, USA
Rating confidence
Limited
Sector
Mutual Insurance Company & Associations

Reported finances

Revenue
$580,169
Expenses
$601,687
Assets
$1,335,402
Liabilities
$246,568

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

7 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide fire coverage in the surrounding counties as prescribed by the Illinois department of professional regulation

What it reported doing in 2012

The company is a mutual insurance company that provides fire coverage in the surrounding counties that they are authorized to write in by the Illinois department of professional regulation

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: 100
  • Accountability: 14
  • Sustainability: 39
  • Growth: 40

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; 60th 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: 0%; rating input score 0; 4th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.7%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 2.22; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 20.5%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 4.2% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: -1.3% per year; rating input score 0; 34th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 0 of 7 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $602K in reported program spending
  • Leadership: top reported pay $59K · 7 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2010 to 2012
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

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.

  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 6 of 9 not reported.
  • High — Sustainability: Operating margin scored 26/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.