Franklin Fire Insurance Company

Organization Overview

Franklin Fire Insurance Company is located in Oneonta, NY. The organization was established in 1946. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Franklin Fire Insurance Company employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Franklin Fire Insurance Company is a 501(c)(15) and as such, is described as a "Mutual Insurance Company or Association" by the IRS.

For the year ending 12/2021, Franklin Fire Insurance Company generated $61.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.9%) each year. All expenses for the organization totaled $81.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

INSURE POLICYHOLDERS ANDCOVER LOSSES AS THEY OCCUR.

Describe the Organization's Program Activity:

Part 3 - Line 4a

MEMBERS ARE POLICYHOLDERS AND THEIR ANNUAL INSURANCE PREMIUMS ARE USED TO PAY LOSSES INCURRED BY ITS MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
Heather Ross
Secretary/director
$18,596
Burton Barnes
Treasurer/director
$7,196
Thomas Barnes
President/director
$3,976
James Carey
Vice President And Director
$3,383
Richard Yarnes
Director
$2,223
Brian Sickler
Director
$2,200

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$0
Investment income $16,850
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $61,704

Endowment Analysis

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