Mutual Insurance Company of Dearborn Co

Nonprofit profile at a glance

EIN
351036954
IRS 990 coverage
2015–2017
Forms available
Form 990 2017
Location
Guilford, IN, USA
Phone
8124872242
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Mutual Insurance Company & Associations

Reported finances

Revenue
$12,194
Expenses
$27,299
Assets
$680,119
Liabilities
$18,498

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • Russell McCann (Vice President)
  • Amy Lunsford (President)

Highest reported compensation

  • Theresa Widolff (Secr. & Treas.): $8,350 total reported compensation
  • Russell McCann (Vice President): $2,458 total reported compensation
  • Eric Hartman (Director): $1,240 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide insurance for dwellings, households, outbuildings, machinery, livestock and produce for clients located in a three county area.

Operating model

Revenue model
Investment-supported. 71% of the money available for current operations came from recurring investment income.
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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 81
  • Accountability: 68
  • Sustainability: 36
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79%; rating input score 79
  • Program expense ratio: 35.3%; rating input score 35
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 11th 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; 64th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -123.9%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 24.91; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 52.1%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: -0.3% per year; rating input score 0; 53rd percentile among comparable filings
  • Revenue growth: -8.6% per year; rating input score 0; 38th percentile among comparable filings
  • Asset growth: -0.9% per year; rating input score 0; 43rd percentile among comparable filings

Details

  • Where the money goes: 79% of revenue deployed · 35.3% of spending went to programs
  • Governance: 7 of 7 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $10K in reported program spending
  • Leadership: top reported pay $8K · 7 people listed
  • Consistency: 16 of 17 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 3 filing years from 2015 to 2017
  • 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.

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 — Financial Efficiency: Program expense ratio scored 35/100.
  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.