Sigel Mutual Insurance Co
- Assets
- $1.5m
- Revenue
- $588.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Sigel, IL
- Founding
- 02/1918
- Data as of
- 12/2015
- EIN
- 37-6039069
Organization Overview
Sigel Mutual Insurance Co is located in Sigel, IL. The organization was established in 1918. According to its NTEE Classification (Y23) the organization is classified as: Mutual Insurance Companies & Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2015, Sigel Mutual Insurance Co employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sigel Mutual Insurance Co is a 501(c)(15) and as such, is described as a "Mutual Insurance Company or Association" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2015
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES FIRE AND WIND COVERAGE IN THE SURROUNDING COUNTIES AS PRESCRIBED BY THE ILLINOIS DEPARTMENT OF PROFESSIONAL REGULATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMPANY IS A MUTUAL INSURANCE COMPANY THAT PROVIDES FIRE AND WIND COVERAGE IN THE SURROUNDING COUNTIES THAT THEY ARE AUTHORIZED TO WRITE IN BY THE ILLINOIS DEPARTMENT OF PROFESSIONAL REGULATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rick Schumacher Director | Trustee | 0 | $150 |
Phillip Sudkamp President | OfficerTrustee | 0 | $550 |
Dorothy Hanfland Secretarytreasurer | OfficerTrustee | 20 | $26,000 |
Paul Hoene Vice President | OfficerTrustee | 0 | $500 |
Doug Worman Director | Trustee | 0 | $350 |
Edward J Doedtman Director | Trustee | 0 | $690 |
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 | $555,514 |
| Investment income | $18,220 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $14,036 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $588,471 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $190,609 |
| Compensation of current officers, directors, key employees. | $30,907 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,710 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,495 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,840 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,111 |
| Office expenses | $7,957 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,913 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,881 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,891 |
| All other expenses | $6,695 |
| Total functional expenses | $613,194 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,877 |
| Savings and temporary cash investments | $1,171,148 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,823 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $800 |
| Investments—publicly traded securities | $133,317 |
| Investments—other securities | $0 |
| Investments—program-related | $156,718 |
| Intangible assets | $0 |
| Other assets | $3,000 |
| Total assets | $1,478,683 |
| Accounts payable and accrued expenses | $30,611 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $261,235 |
| Total liabilities | $291,846 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $1,186,837 |