American Mutual Share Insurance Corp & Subsidiaries

Organization Overview

American Mutual Share Insurance Corp & Subsidiaries, operating under the name American Share Insurance, is located in Dublin, OH. The organization was established in 1978. 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, American Share Insurance employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Share Insurance is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 12/2021, American Share Insurance generated $10.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.1% each year .

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE PRIMARY AND EXCESS SHARE (DEPOSIT) INSURANCE EXCLUSIVELY TO CREDIT UNIONS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

AMERICAN MUTUAL SHARE INSURANCE CORPORATION (ASI) PROVIDES PRIMARY AND EXCESS SHARE (DEPOSIT) INSURANCE TO CREDIT UNIONS UNDER OHIO REVISED CODE SECTION 1761, AS A MEMBER-OWNED, MUTUALLY ORGANIZED SHARE GUARANTY CORPORATION, AND THE NATION'S LARGEST NON-FEDERAL INSURER OF CONSUMER DEPOSITS. APPROXIMATELY 125 MEMBER CREDIT UNIONS IN 10 STATES WERE SERVED BY ASI IN 2021 AND THE AGGREGATE NUMBER OF INDIVIDUAL MEMBERS IN THOSE CREDIT UNIONS INSURED BY ASI IS ESTIMATED TO BE APPROXIMATELY 1.33 MILLION.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Crowe Llp
Internal Audit
$172,587
Deloitte And Touche
Audit And Tax
$147,313
View All Vendors

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 $2,836,200
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $1,505,840
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $10,357,280

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