Union Farm Mutual Insurance Co
EIN: 460221393 · Elk Point, SD
| Metric | Value |
|---|---|
| Total Revenue | $532K |
| Total Expenses | $697K |
| Net Assets | $2.9M |
Is Union Farm Mutual Insurance Co Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Union Farm Mutual Insurance Co
Union Farm Mutual Insurance Co (EIN: 460221393) is a nonprofit organization based in Elk Point, SD. The organization reported total revenue of $532K and total assets of $2.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Union Farm Mutual Insurance Co's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Union Farm Mutual Insurance Co is a small nonprofit that has been operating for 81 years, with 8 years of IRS 990 filings on record (2011–2018). Revenue has grown at a compound annual rate of 6.0%.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
| Total Revenue | $532K |
| Total Expenses | $697K |
| Surplus / Deficit | $-165,823 |
| Total Assets | $2.9M |
| Net Assets | $2.9M |
| Operating Margin | -31.2% |
| Months of Reserves | 50.7 months |
Financial Health Grade: B
In 2018, Union Farm Mutual Insurance Co reported a deficit of $166K with expenses exceeding revenue, holds 50.7 months of operating reserves (strong position).
Financial Trends
Over 8 years of filings (2011–2018), Union Farm Mutual Insurance Co's revenue has grown at a compound annual growth rate (CAGR) of 6.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2018 | +44.1% | +68.3% | -7.6% |
| 2017 | -41.8% | -32.4% | -2.4% |
| 2016 | +71.9% | +154.5% | +1.4% |
| 2015 | -4.2% | -16.5% | +3.8% |
| 2014 | +15.0% | +26.3% | +3.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1945 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Union Farm Mutual Insurance Co 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 Union Farm Mutual Insurance Co 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 (2018)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $166K, with expenses exceeding revenue.
Frequently Asked Questions about Union Farm Mutual Insurance Co
Is Union Farm Mutual Insurance Co a legitimate charity?
Union Farm Mutual Insurance Co (EIN: 460221393) is a registered tax-exempt nonprofit based in South Dakota. It has 8 years of IRS 990 filings on record. Total revenue: $532K. No red flags identified. Financial health grade: B.
How does Union Farm Mutual Insurance Co spend its money?
Union Farm Mutual Insurance Co reported $532K in total revenue in IRS 990 filings. 8 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Union Farm Mutual Insurance Co tax-deductible?
Union Farm Mutual Insurance Co is registered as a tax-exempt nonprofit (EIN: 460221393). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Union Farm Mutual Insurance Co located?
Union Farm Mutual Insurance Co is headquartered in Elk Point, South Dakota and files with the IRS under EIN 460221393.
How many years of IRS 990 filings does Union Farm Mutual Insurance Co have?
Union Farm Mutual Insurance Co has 8 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 $532K in total revenue.
Filing History
IRS 990 filing history for Union Farm Mutual Insurance Co showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2011–2018), Union Farm Mutual Insurance Co's revenue has grown by 50.5%, moving from $353K to $532K. Total assets increased by 5.5% over the same period, from $2.8M to $2.9M. Total functional expenses rose by 223.6%, from $216K to $697K. In its most recent filing year (2018), Union Farm Mutual Insurance Co reported a deficit of $166K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2018 | $532K | $697K | $2.9M | $0 | — | View 990 |
| 2017 | $369K | $414K | $3.2M | $806 | — | View 990 |
| 2016 | $634K | $613K | $3.3M | $11K | — | View 990 |
| 2015 | $369K | $241K | $3.2M | $27K | — | View 990 |
| 2014 | $385K | $289K | $3.1M | $18K | — | View 990 |
| 2013 | $334K | $229K | $3.0M | $0 | — | View 990 |
| 2012 | $366K | $264K | $2.9M | $0 | — | View 990 |
| 2011 | $353K | $216K | $2.8M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2018: Revenue of $532K, expenses of $697K, and assets of $2.9M (revenue +44.1% year-over-year).
- 2017: Revenue of $369K, expenses of $414K, and assets of $3.2M (revenue -41.8% year-over-year).
- 2016: Revenue of $634K, expenses of $613K, and assets of $3.3M (revenue +71.9% year-over-year).
- 2015: Revenue of $369K, expenses of $241K, and assets of $3.2M (revenue -4.2% year-over-year).
- 2014: Revenue of $385K, expenses of $289K, and assets of $3.1M (revenue +15.0% year-over-year).
- 2013: Revenue of $334K, expenses of $229K, and assets of $3.0M (revenue -8.6% year-over-year).
- 2012: Revenue of $366K, expenses of $264K, and assets of $2.9M (revenue +3.6% year-over-year).
- 2011: Revenue of $353K, expenses of $216K, and assets of $2.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Union Farm Mutual Insurance Co:
Data Sources and Methodology
This transparency report for Union Farm Mutual Insurance Co 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.