Vernon Edda Mutual Fire Insurance Company

Nonprofit profile at a glance

EIN
410592872
IRS 990 coverage
2015–2025
Forms available
Form 990 2025
Location
Hayfield, MN, USA
Rating
49
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$387,321
Expenses
$160,765
Assets
$2,692,009
Liabilities
$169,064

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • RUSSELL SKOV (PRESIDENT)

Highest reported compensation

  • JODIE TVEDT (SECRETARY): $2,400 total reported compensation
  • DUANE KLOCKE (VICE PRESIDE): $2,080 total reported compensation
  • DIANE LINBO (DIRECTOR): $2,080 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The company provides fire and additional lines of insurance coverages to policyholders/members and pays claims on covered policyholder losses.

What it reported doing in 2025

We provide property insurance for our members per section 501(c)(15) number of members:218 insurance in force: 189,001,694

Operating model

Revenue model
Earned-program. 68% 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

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: 90
  • Accountability: 77
  • Sustainability: 78
  • Growth: 60

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; 64th 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: 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: Pass
    • 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: Pass

Sustainability

  • Operating margin: 58.5%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 16.74; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 8.3%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.9% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 4.9% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $161K in reported program spending
  • Leadership: top reported pay $2K · 7 people listed
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 11 filing years from 2015 to 2025
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.