Floyd County Mutual Fire Ins Co Inc
EIN: 540213125 · Floyd, VA
Is Floyd County Mutual Fire Ins Co Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Floyd County Mutual Fire Ins Co Inc
Floyd County Mutual Fire Ins Co Inc (EIN: 540213125) is a nonprofit organization based in Floyd, VA. The organization reported total revenue of $265K and total assets of $3.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Floyd County Mutual Fire Ins Co Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Floyd County Mutual Fire Ins Co Inc is a small nonprofit that has been operating for 83 years, with 14 years of IRS 990 filings on record (2010–2023).
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $221K |
| Total Expenses | $93K |
| Surplus / Deficit | +$128K |
| Total Assets | $3.6M |
| Total Liabilities | $88K |
| Net Assets | $3.5M |
| Operating Margin | 57.8% |
| Debt-to-Asset Ratio | 2.5% |
| Months of Reserves | 460.4 months |
Financial Health Grade: A
In 2023, Floyd County Mutual Fire Ins Co Inc reported a surplus of $128K with revenue exceeding expenses, holds 460.4 months of operating reserves (strong position), has a debt-to-asset ratio of 2.5% (very low leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +36.4% | +23.2% | +3.7% |
| 2022 | +2.2% | -33.9% | +2.4% |
| 2021 | +1.4% | +56.3% | +1.4% |
| 2020 | -0.8% | +21.1% | +2.6% |
| 2019 | +3.3% | -61.9% | +3.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1943 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Floyd County Mutual Fire Ins Co Inc 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 Floyd County Mutual Fire Ins Co Inc 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $128K, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.5%.
Frequently Asked Questions about Floyd County Mutual Fire Ins Co Inc
Is Floyd County Mutual Fire Ins Co Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Floyd County Mutual Fire Ins Co Inc (EIN: 540213125) insufficient data. 0 red flags identified, 0 strengths noted.
How does Floyd County Mutual Fire Ins Co Inc spend its money?
Detailed spending breakdown data is not yet available for Floyd County Mutual Fire Ins Co Inc. Check back for updated IRS 990 analysis.
Are donations to Floyd County Mutual Fire Ins Co Inc tax-deductible?
Floyd County Mutual Fire Ins Co Inc is registered as a tax-exempt nonprofit (EIN: 540213125). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Floyd County Mutual Fire Ins Co Inc showing financial trends over 14 years of public records:
Total assets increased by 31.4% over the same period, from $2.7M to $3.6M. Total functional expenses fell by 10.2%, from $104K to $93K. In its most recent filing year (2023), Floyd County Mutual Fire Ins Co Inc reported a surplus of $128K, with revenue exceeding expenses. The organization holds $88K in liabilities against $3.6M in assets (debt-to-asset ratio: 2.5%), resulting in net assets of $3.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $221K | $93K | $3.6M | $88K | — | — |
| 2022 | $162K | $76K | $3.5M | $90K | — | — |
| 2021 | $159K | $114K | $3.4M | $94K | — | View 990 |
| 2020 | $156K | $73K | $3.3M | $91K | — | — |
| 2019 | $158K | $61K | $3.2M | $89K | — | View 990 |
| 2018 | $153K | $159K | $3.1M | $92K | — | View 990 |
| 2017 | $157K | $81K | $3.1M | $92K | — | View 990 |
| 2016 | $157K | $75K | $3.1M | $97K | — | View 990 |
| 2015 | $135K | $82K | $3.0M | $96K | — | View 990 |
| 2014 | $155K | $119K | $2.9M | $76K | — | View 990 |
| 2013 | $173K | $101K | $2.9M | $77K | — | View 990 |
| 2012 | $161K | $75K | $2.8M | $92K | — | View 990 |
| 2011 | $167K | $132K | $2.8M | $105K | — | View 990 |
| 2010 | $0 | $104K | $2.7M | $104K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $221K, expenses of $93K, and assets of $3.6M (revenue +36.4% year-over-year).
- 2022: Revenue of $162K, expenses of $76K, and assets of $3.5M (revenue +2.2% year-over-year).
- 2021: Revenue of $159K, expenses of $114K, and assets of $3.4M (revenue +1.4% year-over-year).
- 2020: Revenue of $156K, expenses of $73K, and assets of $3.3M (revenue -0.8% year-over-year).
- 2019: Revenue of $158K, expenses of $61K, and assets of $3.2M (revenue +3.3% year-over-year).
- 2018: Revenue of $153K, expenses of $159K, and assets of $3.1M (revenue -2.8% year-over-year).
- 2017: Revenue of $157K, expenses of $81K, and assets of $3.1M (revenue +0.0% year-over-year).
- 2016: Revenue of $157K, expenses of $75K, and assets of $3.1M (revenue +16.1% year-over-year).
- 2015: Revenue of $135K, expenses of $82K, and assets of $3.0M (revenue -12.4% year-over-year).
- 2014: Revenue of $155K, expenses of $119K, and assets of $2.9M (revenue -10.5% year-over-year).
- 2013: Revenue of $173K, expenses of $101K, and assets of $2.9M (revenue +7.4% year-over-year).
- 2012: Revenue of $161K, expenses of $75K, and assets of $2.8M (revenue -3.8% year-over-year).
- 2011: Revenue of $167K, expenses of $132K, and assets of $2.8M.
- 2010: Revenue of $0, expenses of $104K, and assets of $2.7M.
Data Sources and Methodology
This transparency report for Floyd County Mutual Fire Ins Co Inc 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.