Farmers Mutual Insurance Association
EIN: 570275723 · Bennettsville, SC
About Farmers Mutual Insurance Association
Farmers Mutual Insurance Association (EIN: 570275723) is a nonprofit organization based in Bennettsville, SC. The organization reported total revenue of $24K and total assets of $116K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Farmers Mutual Insurance Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Analysis Pending
AI enrichment for Farmers Mutual Insurance Association has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Farmers Mutual Insurance Association with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Filing History
IRS 990 filing history for Farmers Mutual Insurance Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Farmers Mutual Insurance Association's revenue has declined by 25.2%, moving from $69K to $52K. Total assets decreased by 62.5% over the same period, from $495K to $185K. Total functional expenses rose by 12.1%, from $76K to $86K. In its most recent filing year (2023), Farmers Mutual Insurance Association reported a deficit of $34K, with expenses exceeding revenue. The organization holds $29K in liabilities against $185K in assets (debt-to-asset ratio: 15.5%), resulting in net assets of $157K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $52K | $86K | $185K | $29K | — | — |
| 2022 | $51K | $77K | $220K | $29K | — | — |
| 2021 | $54K | $73K | $246K | $29K | — | — |
| 2020 | $56K | $94K | $268K | $31K | — | View 990 |
| 2019 | $56K | $89K | $306K | $32K | — | View 990 |
| 2018 | $58K | $96K | $339K | $32K | — | View 990 |
| 2017 | $61K | $84K | $378K | $33K | — | View 990 |
| 2016 | $63K | $87K | $400K | $32K | — | View 990 |
| 2015 | $66K | $93K | $429K | $37K | — | View 990 |
| 2014 | $60K | $80K | $456K | $37K | — | View 990 |
| 2013 | $62K | $75K | $480K | $40K | — | View 990 |
| 2012 | $74K | $83K | $487K | $34K | — | View 990 |
| 2011 | $69K | $76K | $495K | $32K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $52K, expenses of $86K, and assets of $185K (revenue +0.4% year-over-year).
- 2022: Revenue of $51K, expenses of $77K, and assets of $220K (revenue -4.5% year-over-year).
- 2021: Revenue of $54K, expenses of $73K, and assets of $246K (revenue -4.0% year-over-year).
- 2020: Revenue of $56K, expenses of $94K, and assets of $268K (revenue -0.4% year-over-year).
- 2019: Revenue of $56K, expenses of $89K, and assets of $306K (revenue -3.1% year-over-year).
- 2018: Revenue of $58K, expenses of $96K, and assets of $339K (revenue -4.5% year-over-year).
- 2017: Revenue of $61K, expenses of $84K, and assets of $378K (revenue -3.6% year-over-year).
- 2016: Revenue of $63K, expenses of $87K, and assets of $400K (revenue -4.5% year-over-year).
- 2015: Revenue of $66K, expenses of $93K, and assets of $429K (revenue +10.8% year-over-year).
- 2014: Revenue of $60K, expenses of $80K, and assets of $456K (revenue -3.7% year-over-year).
- 2013: Revenue of $62K, expenses of $75K, and assets of $480K (revenue -16.7% year-over-year).
- 2012: Revenue of $74K, expenses of $83K, and assets of $487K (revenue +7.7% year-over-year).
- 2011: Revenue of $69K, expenses of $76K, and assets of $495K.
Data Sources and Methodology
This transparency report for Farmers Mutual Insurance Association is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.