Hamel Mutual Insurance Company
EIN: 370310686 · Hamel, IL
| Metric | Value |
|---|---|
| Total Revenue | $399K |
| Total Expenses | $388K |
| Net Assets | $708K |
Is Hamel Mutual Insurance Company Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Hamel Mutual Insurance Company
Hamel Mutual Insurance Company (EIN: 370310686) is a nonprofit organization based in Hamel, IL. The organization reported total revenue of $399K and total assets of $890K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hamel Mutual Insurance Company's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hamel Mutual Insurance Company is a small nonprofit that has been operating for 39 years, with 11 years of IRS 990 filings on record (2011–2021). Revenue has grown at a compound annual rate of -1.7%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $408K |
| Total Expenses | $388K |
| Surplus / Deficit | +$19K |
| Total Assets | $937K |
| Total Liabilities | $229K |
| Net Assets | $708K |
| Operating Margin | 4.8% |
| Debt-to-Asset Ratio | 24.5% |
| Months of Reserves | 29.0 months |
Financial Health Grade: A
In 2021, Hamel Mutual Insurance Company reported a surplus of $19K with revenue exceeding expenses, holds 29.0 months of operating reserves (strong position), has a debt-to-asset ratio of 24.5% (moderate leverage).
Financial Trends
Over 11 years of filings (2011–2021), Hamel Mutual Insurance Company's revenue has declined at a compound annual growth rate (CAGR) of -1.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | +1.8% | +1.1% | +4.6% |
| 2020 | -1.9% | -6.6% | +4.8% |
| 2019 | -3.2% | +16.3% | +0.7% |
| 2018 | -2.3% | -38.4% | +8.7% |
| 2017 | -4.2% | +33.0% | -8.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Hamel Mutual Insurance Company 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 Hamel Mutual Insurance Company 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 (2021)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $19K, with revenue exceeding expenses.
- Debt-to-asset ratio: 24.5%.
Frequently Asked Questions about Hamel Mutual Insurance Company
Is Hamel Mutual Insurance Company a legitimate charity?
Hamel Mutual Insurance Company (EIN: 370310686) is a registered tax-exempt nonprofit based in Illinois. It has 11 years of IRS 990 filings on record. Total revenue: $399K. No red flags identified. Financial health grade: A.
How does Hamel Mutual Insurance Company spend its money?
Hamel Mutual Insurance Company reported $399K in total revenue in IRS 990 filings. 11 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Hamel Mutual Insurance Company tax-deductible?
Hamel Mutual Insurance Company is registered as a tax-exempt nonprofit (EIN: 370310686). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Hamel Mutual Insurance Company located?
Hamel Mutual Insurance Company is headquartered in Hamel, Illinois and files with the IRS under EIN 370310686.
How many years of IRS 990 filings does Hamel Mutual Insurance Company have?
Hamel Mutual Insurance Company has 11 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $399K in total revenue.
Filing History
IRS 990 filing history for Hamel Mutual Insurance Company showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2021), Hamel Mutual Insurance Company's revenue has declined by 15.7%, moving from $484K to $408K. Total assets increased by 11.7% over the same period, from $839K to $937K. Total functional expenses fell by 33.4%, from $583K to $388K. In its most recent filing year (2021), Hamel Mutual Insurance Company reported a surplus of $19K, with revenue exceeding expenses. The organization holds $229K in liabilities against $937K in assets (debt-to-asset ratio: 24.5%), resulting in net assets of $708K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $408K | $388K | $937K | $229K | — | View 990 |
| 2020 | $401K | $384K | $896K | $215K | — | — |
| 2019 | $408K | $411K | $855K | $214K | — | View 990 |
| 2018 | $422K | $354K | $849K | $229K | — | View 990 |
| 2017 | $431K | $574K | $781K | $207K | — | View 990 |
| 2016 | $450K | $431K | $855K | $157K | — | View 990 |
| 2015 | $481K | $389K | $860K | $185K | — | View 990 |
| 2014 | $510K | $499K | $815K | $227K | — | View 990 |
| 2013 | $490K | $514K | $783K | $204K | — | View 990 |
| 2012 | $462K | $555K | $793K | $206K | — | View 990 |
| 2011 | $484K | $583K | $839K | $168K | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $408K, expenses of $388K, and assets of $937K (revenue +1.8% year-over-year).
- 2020: Revenue of $401K, expenses of $384K, and assets of $896K (revenue -1.9% year-over-year).
- 2019: Revenue of $408K, expenses of $411K, and assets of $855K (revenue -3.2% year-over-year).
- 2018: Revenue of $422K, expenses of $354K, and assets of $849K (revenue -2.3% year-over-year).
- 2017: Revenue of $431K, expenses of $574K, and assets of $781K (revenue -4.2% year-over-year).
- 2016: Revenue of $450K, expenses of $431K, and assets of $855K (revenue -6.4% year-over-year).
- 2015: Revenue of $481K, expenses of $389K, and assets of $860K (revenue -5.6% year-over-year).
- 2014: Revenue of $510K, expenses of $499K, and assets of $815K (revenue +4.1% year-over-year).
- 2013: Revenue of $490K, expenses of $514K, and assets of $783K (revenue +6.1% year-over-year).
- 2012: Revenue of $462K, expenses of $555K, and assets of $793K (revenue -4.5% year-over-year).
- 2011: Revenue of $484K, expenses of $583K, and assets of $839K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hamel Mutual Insurance Company:
Data Sources and Methodology
This transparency report for Hamel Mutual Insurance Company 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.