Mclean County Mutual Insurance Co

Nonprofit profile at a glance

EIN
370182473
IRS 990 coverage
2012–2013
Forms available
Form 990 2013
Location
Normal, IL, USA
Phone
3094521877
Rating
48
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$694,922
Expenses
$722,147
Assets
$1,412,879
Liabilities
$527,754

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • EVERETT LAESCH (President)
  • ARLEN SIEG (Vice President)

Highest reported compensation

  • DIRK SHANNABARGER (Secretary): $70,806 total reported compensation
  • DAWN FUNK (Director): $56,778 total reported compensation
  • JANET FUNK (Treasurer): $1,337 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Mutual insurance company offering property and liability insurance coverage.

Operating model

Revenue model
Earned-program. 75% of the money available for current operations came from fees and other program revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 100
  • Accountability: 70
  • Sustainability: 36
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • 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: 66.7%; rating input score 67; 12th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.9%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 1.96; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.37; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 17.9%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 21.5% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: -0.7% per year; rating input score 0; 33rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 6 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $71K · 10 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2012 to 2013
  • Contacts: How to reach this organization
  • Money network: 2 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.