Civic Intelligence

Loran Mutual Insurance Company

EIN 36-2255210 • 501(c)15 • Pearl City, IL

Profile

Loran mutual insurance company is a farm mutual insurance company dedicated to providing quality insurance products and superior service to our policyholeders, while maintaining financial stability

128 S Main StreetPearl City, IL 61062

www.loranmutual.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

43rd percentile

0.01x

Higher debt load relative to assets than 43% of similar nonprofits.

$1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

44th percentile

0.01x

Higher debt load relative to revenue than 44% of similar nonprofits.

$1M-$5M nonprofits • Source year 2022

Net Margin

60th percentile

11%

Higher net margin than 60% of similar nonprofits.

$1M-$5M nonprofits • Source year 2022

Top Officer Pay

55th percentile

$26,400

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 4.5% of source-year revenue.

$1M-$5M nonprofits • Source year 2022

Asset Growth

58th percentile

5.2%

Faster asset growth than 58% of similar nonprofits.

$1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

66th percentile

23%

Faster revenue growth than 66% of similar nonprofits.

$1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets43rd percentile

Assets

Up

$1,193,690

Up $59,525 (+5.2%) from 2021

Liabilities

Down

$7,718

Down $257,030 (-97%) from 2021

Net Assets

Up

$1,185,972

Up $316,555 (+36%) from 2021

Operations
Liabilities / Revenue44th percentileNet Margin60th percentile

Revenue

Up

$591,487

Up $111,538 (+23%) from 2021

Expenses

Up

$526,444

Up $48,890 (+10%) from 2021

Net Income

Up

$65,043

Up $62,648 (+2616%) from 2021

Trend Graphs

Balance Sheet Trend

Asset Growth58th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0Assets 2020: $1,070,849Liabilities 2020: $204,746Net Assets 2020: $866,1032020Assets 2021: $1,134,165Liabilities 2021: $264,748Net Assets 2021: $869,4172021Assets 2022: $1,193,690Liabilities 2022: $7,718Net Assets 2022: $1,185,9722022

Highlighted filing

2022

Assets$1,193,690
Liabilities$7,718
Net Assets$1,185,972
Open 2022 Filing

Operations Trend

Revenue Growth66th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0Revenue 2020: $426,799Expenses 2020: $423,541Net Income 2020: $3,2582020Revenue 2021: $479,949Expenses 2021: $477,554Net Income 2021: $2,3952021Revenue 2022: $591,487Expenses 2022: $526,444Net Income 2022: $65,0432022

Highlighted filing

2022

Revenue$591,487
Expenses$526,444
Net Income$65,043
Open 2022 Filing

Filings

Most recent year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,193,690
Liabilities
$7,718
Net assets
$1,185,972
Revenue
$591,487
Expenses
$526,444
Net income
$65,043
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$1.19$0.01$1.19$0.59$0.53$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.13$0.26$0.87$0.48$0.48$0.00
2020Detailed filing. Detailed filing data is available for this year.$1.07$0.20$0.87$0.43$0.42$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 25, 2023
Return Version
2022v5.0
Gross Receipts
$591,487
Mission and Program Overview

Mission

Loran mutual insurance company is a farm mutual insurance company dedicated to providing quality insurance products and superior service to our policyholeders, while maintaining financial stability

Loran mutual insurance company is a farm mutual insurance company dedicated to providing quality insurance and superior service to about 300 policyholders in 6 counties in il. All expenses are relevant to this service.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,120,929$1,185,972▲ $65,043
Savings and Temporary Cash Investments$906,008$984,437▲ $78,429
Cash and Non-Interest-Bearing Accounts$200,641$192,265▼ $8,376
Land, Buildings, and Equipment, Net$19,849$16,988▼ $2,861
Total Assets$1,126,498$1,193,690▲ $67,192
Liabilities
Other Liabilities$5,569$7,718▲ $2,149
Total Liabilities$5,569$7,718▲ $2,149
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,120,929$1,185,972▲ $65,043
Total Liabilities and Net Assets / Fund Balance$1,126,498$1,193,690▲ $67,192

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,988$56,263$69,251
Land$4,000-$4,000
Compensation and Service Providers
Top Officer Pay55th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Luke GlendenningSecretary/trFT$26,400$26,400
Ronald BrownPresident-$1,000$1,000
Curtis DerrerDirector-$300$300
James HeimerdingerDirector-$300$300
Kenneth BaldaufDirector-$300$300
Michael WampflerDirector-$225$225
James MusserDirector-$150$150
Kevin EbsonDirector-$150$150
Scott SheffeyDirector-$150$150
William KuhlemeierVice Preside-$150$150
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$571,092
Investment Income
$18,617
Other Revenue
$1,778
Change in Net Assets
$65,043
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$419,976
Salaries, Compensation, and Employee Benefits$106,468
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$69,600
Current Officers, Directors, Trustees, and Key Employees---$29,125
Other Expenses---$19,922
All Other Expenses---$13,753
Office Expenses---$12,512
Payroll Taxes---$7,743
Insurance---$7,720
Fees for Services Accounting---$5,700
Depreciation Depletion---$2,861
Occupancy---$1,768
Total Functional Expenses$0$0$0$526,444
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Liability Premiums Payable$7,718
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“Farm mutual insurance company - all policyholders are members”

Form 990, Page 6, Part VI, Line 7A

“Directors are voted on by members at annual meeting.”

Form 990, Page 6, Part VI, Line 11B

“Form 990 is completed and filed each year under the direction of the secretary. If the operations of the company remain the same, the form is not reviewed by the organization prior to filing. Copy of submitted form is presented to the directors for review.”

Form 990, Page 6, Part VI, Line 12C

“Conflict of interest forms are required annually from each director.”

Form 990, Page 6, Part VI, Line 18

“Any request for public inspection of company documents and/or records is verified through the illinois department of insurance prior to access being granted.”

Form 990, Page 6, Part VI, Line 19

“Any request for public inspection of company documents and/or records is verified through the illinois department of insurance prior to access being granted.”

Filing and Contact Details

Filer

Filer Name
Loran Mutual Insurance Company
EIN
36-2255210
Phone
8154432074
Address
128 S MAIN STREET, PEARL CITY, IL 61062

Signing Officer

Name
Luke Glendenning
Title
Secretary/treasurer
Phone
8154432074
Signed
2023-05-25

Organization Details

Principal Officer
Luke Glendenning
Formed
1879
Voting Board Members
10
Independent Board Members
10
Employees
3

Preparer

Firm
Benning Group LLC
Address
50 W DOUGLAS ST STE 300, FREEPORT, IL 61032-4135
Preparer
Jenny L Blocker
Phone
8152353157
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DIRECTORS ARE VOTED ON BY MEMBERS AT ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS COMPLETED AND FILED EACH YEAR UNDER THE DIRECTION OF THE SECRETARY. IF THE OPERATIONS OF THE COMPANY REMAIN THE SAME, THE FORM IS NOT REVIEWED BY THE ORGANIZATION PRIOR TO FILING. COPY OF SUBMITTED FORM IS PRESENTED TO THE DIRECTORS FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICT OF INTEREST FORMS ARE REQUIRED ANNUALLY FROM EACH DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ANY REQUEST FOR PUBLIC INSPECTION OF COMPANY DOCUMENTS AND/OR RECORDS IS VERIFIED THROUGH THE ILLINOIS DEPARTMENT OF INSURANCE PRIOR TO ACCESS BEING GRANTED.
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IRS990/TotalAssetsGrp/BOYAmt01126498
IRS990/TotalAssetsGrp/EOYAmt01193690
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0526444
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05569
IRS990/TotalLiabilitiesEOYAmt07718
IRS990/TotalLiabilitiesGrp/BOYAmt05569
IRS990/TotalLiabilitiesGrp/EOYAmt07718
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01120929
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01185972
IRS990/TotalProgramServiceRevenueAmt0571092
IRS990/TotalReportableCompFromOrgAmt029125
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0591487
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0591487
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01126498
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01193690
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0128 S MAIN STREET
IRS990/USAddress/CityNm0PEARL CITY
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd061062
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.LORANMUTUAL.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0LUKE GLENDENNING
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08154432074
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LORAN MUTUAL INSURANCE COMPANY
ReturnHeader/Filer/BusinessNameControlTxt0LORA
ReturnHeader/Filer/EIN0362255210
ReturnHeader/Filer/PhoneNum08154432074
ReturnHeader/Filer/USAddress/AddressLine1Txt0128 S MAIN STREET
ReturnHeader/Filer/USAddress/CityNm0PEARL CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd061062
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0300003878
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BENNING GROUP LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt050 W DOUGLAS ST STE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FREEPORT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0610324135
ReturnHeader/PreparerPersonGrp/PhoneNum08152353157
ReturnHeader/PreparerPersonGrp/PreparationDt02023-05-25
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JENNY L BLOCKER
ReturnHeader/ReturnTs02023-05-30T18:06:06-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LUKE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0GLENDENNING
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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