Civic Intelligence

Washington Town Mutual Insurance Company

EIN 39-0491630 • 501(c)15 • Washington Island, WI

Profile

Provide property casualty insurance coverage for our 405 policyholders.

1246 Main RoadWashington Island, WI 54246
Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2023

Liabilities / Revenue

66th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

<$500k nonprofits • Source year 2023

Net Margin

40th percentile

-3.2%

Higher net margin than 40% of similar nonprofits.

<$500k nonprofits • Source year 2023

Top Officer Pay

96th percentile

$60,882

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 23.5% of source-year revenue.

<$500k nonprofits • Source year 2023

Asset Growth

12th percentile

-100%

Faster asset growth than 12% of similar nonprofits.

<$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

63rd percentile

10.0%

Faster revenue growth than 63% of similar nonprofits.

<$500k nonprofits • Annualized from 2022 to 2023

Assets

Down

$0

Down $2,222,648 (-100%) from 2022

Liabilities

Down

$0

Down $82,087 (-100%) from 2022

Net Assets

Down

$0

Down $2,140,561 (-100%) from 2022

Revenue

Up

$259,203

Up $23,500 (+10.0%) from 2022

Expenses

Up

$267,499

Up $35,717 (+15%) from 2022

Net Income

Down

-$8,296

Down $12,217 (-312%) from 2022

Trend Graphs

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,988,063Liabilities 2011: $93,549Net Assets 2011: $1,894,5142011Assets 2012: $2,008,323Liabilities 2012: $100,346Net Assets 2012: $1,907,9772012Assets 2013: $2,032,548Liabilities 2013: $102,744Net Assets 2013: $1,929,8042013Assets 2014: $2,061,125Liabilities 2014: $95,265Net Assets 2014: $1,965,8602014Assets 2015: $2,065,347Liabilities 2015: $93,808Net Assets 2015: $1,971,5392015Assets 2016: $2,107,552Liabilities 2016: $95,649Net Assets 2016: $2,011,9032016Assets 2017: $2,154,474Liabilities 2017: $90,183Net Assets 2017: $2,064,2912017Assets 2018: $2,170,613Liabilities 2018: $89,309Net Assets 2018: $2,081,3042018Assets 2019: $2,218,895Liabilities 2019: $87,850Net Assets 2019: $2,131,0452019Assets 2020: $2,241,223Liabilities 2020: $87,136Net Assets 2020: $2,154,0872020Assets 2021: $2,285,446Liabilities 2021: $77,848Net Assets 2021: $2,207,5982021Assets 2022: $2,222,648Liabilities 2022: $82,087Net Assets 2022: $2,140,5612022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2023

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2011: $501,875Expenses 2011: $497,245Net Income 2011: $4,6302011Revenue 2012: $235,044Expenses 2012: $218,928Net Income 2012: $16,1162012Revenue 2013: $250,442Expenses 2013: $241,701Net Income 2013: $8,7412013Revenue 2014: $258,175Expenses 2014: $242,964Net Income 2014: $15,2112014Revenue 2015: $252,264Expenses 2015: $241,680Net Income 2015: $10,5842015Revenue 2016: $273,138Expenses 2016: $263,031Net Income 2016: $10,1072016Revenue 2017: $267,592Expenses 2017: $237,518Net Income 2017: $30,0742017Revenue 2018: $277,481Expenses 2018: $239,711Net Income 2018: $37,7702018Revenue 2019: $279,239Expenses 2019: $259,222Net Income 2019: $20,0172019Revenue 2020: $267,507Expenses 2020: $249,627Net Income 2020: $17,8802020Revenue 2021: $263,485Expenses 2021: $236,659Net Income 2021: $26,8262021Revenue 2022: $235,703Expenses 2022: $231,782Net Income 2022: $3,9212022Revenue 2023: $259,203Expenses 2023: $267,499Net Income 2023: -$8,2962023

Highlighted filing

2023

Revenue$259,203
Expenses$267,499
Net Income-$8,296

Filings

Latest Detailed Filing

The latest 2023 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 12, 2023
Return Version
2022v5.0
Gross Receipts
$235,703
Mission and Program Overview

Mission

Provide property casualty insurance coverage for our 405 policyholders.

Provide members with property & casualty insurance coverage.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$2,207,598$2,140,561▼ $67,037
Savings and Temporary Cash Investments$1,532,470$1,101,887▼ $430,583
Other Notes and Loans Receivable, Net$323,347$756,172▲ $432,825
Investments in Publicly Traded Securities$264,422$224,285▼ $40,137
Investments Other Securities$74,469$59,286▼ $15,183
Land, Buildings, and Equipment, Net$32,738$32,803▲ $65
Cash and Non-Interest-Bearing Accounts$34,629$26,276▼ $8,353
Accounts Receivable$9,293$13,280▲ $3,987
Total Assets$2,285,446$2,222,648▼ $62,798
Other Assets Total$14,078$8,659▼ $5,419
Liabilities
Deferred Revenue$67,189$71,733▲ $4,544
Other Liabilities$9,030$9,883▲ $853
Accounts Payable and Accrued Expenses$1,629$471▼ $1,158
Total Liabilities$77,848$82,087▲ $4,239
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,207,598$2,140,561▼ $67,037
Total Liabilities and Net Assets / Fund Balance$2,285,446$2,222,648▼ $62,798

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$15,534$97,231$112,765
Land$17,269-$17,269
Equipment-$3,528$3,528
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Marjorie BjamarsonTreasurerFT$54,246$54,246
Ivan JohnsonPresident-$780$780
Marlene MannSecretary-$680$680
Thomas KoyenVice-preside-$680$680
William JorgensonDirector-$630$630

Board Members and Trustees

NameTitle
Barbara CornellDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$195,001
Investment Income
$40,528
Other Revenue
$174
Change in Net Assets
$3,921
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$168,200
Salaries, Compensation, and Employee Benefits$63,582
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$57,016
Insurance---$15,743
Occupancy---$13,827
Office Expenses---$7,685
Fees for Services Accounting---$7,000
All Other Expenses---$5,872
Payroll Taxes---$4,626
Other Expenses---$3,377
Depreciation Depletion---$2,130
Other Salaries and Wages---$1,940
Conferences and Meetings---$1,419
Advertising---$416
Total Functional Expenses$0$0$0$231,782
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Barbara CornellBoard MemberMortgage LoanNo$195,000
L BjamarsonSpouse of BoardMortgage LoanNo$121,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Premiums Received in Advance$7,364
Net Unpaid Losses$2,000
Reinsurance Payable$519
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
Yes
Business relationship with organization members
Yes
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

Washington town mutual became a company in 1889. We have 6 board members who represent policyholders.

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

Our 6 board members are elected for a 3 year term with 2 members up for election every year at our annual meeting of policyholders who are all eligible to vote. Annually at our reorganization meeting, the officers are voted on by the board members.

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

Actions and decisions of the board of directors are approved by the policyholders at the annual meeting.

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

The organization provides a copy of form 990 to each member of the board of directors.

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

The company has a written conflict of interest policy which all directors and management sign annually.

Form 990, Page 6, Part VI, Line 19

The conflict of interest policy and financial statements are available to the public upon request and all other governing documents are available at the company's office. The annual statement is filed with the ofiice of the commissioner of insurance of the state of wisconsin.

Filing and Contact Details

Filer

Filer Name
Washington Town Mutual Insurance Co
EIN
39-0491630
Phone
9208472041
Address
1246 MAIN ROAD, WASHINGTON ISLAND, WI 54246

Signing Officer

Name
Marjorie Bjamarson
Title
Treasurer
Phone
9208472041
Signed
2023-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marjorie Bjamarson
Formed
1889
Legal Domicile
Wi
Voting Board Members
6
Independent Board Members
2
Employees
7

Preparer

Firm
Erickson & Associates Sc
Address
1000 WEST COLLEGE AVE, APPLETON, WI 54914
Preparer
Randall F Koch
Phone
9207334957
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Change in nonadmitted assets -478

Raw XML Appendix336 raw XML fields

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/ExplanationTxt0WASHINGTON TOWN MUTUAL BECAME A COMPANY IN 1889. WE HAVE 6 BOARD MEMBERS WHO REPRESENT POLICYHOLDERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OUR 6 BOARD MEMBERS ARE ELECTED FOR A 3 YEAR TERM WITH 2 MEMBERS UP FOR ELECTION EVERY YEAR AT OUR ANNUAL MEETING OF POLICYHOLDERS WHO ARE ALL ELIGIBLE TO VOTE. ANNUALLY AT OUR REORGANIZATION MEETING, THE OFFICERS ARE VOTED ON BY THE BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ACTIONS AND DECISIONS OF THE BOARD OF DIRECTORS ARE APPROVED BY THE POLICYHOLDERS AT THE ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION PROVIDES A COPY OF FORM 990 TO EACH MEMBER OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE COMPANY HAS A WRITTEN CONFLICT OF INTEREST POLICY WHICH ALL DIRECTORS AND MANAGEMENT SIGN ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AND ALL OTHER GOVERNING DOCUMENTS ARE AVAILABLE AT THE COMPANY'S OFFICE. THE ANNUAL STATEMENT IS FILED WITH THE OFIICE OF THE COMMISSIONER OF INSURANCE OF THE STATE OF WISCONSIN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CHANGE IN NONADMITTED ASSETS -478
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02285446
IRS990/TotalAssetsEOYAmt02222648
IRS990/TotalAssetsGrp/BOYAmt02285446
IRS990/TotalAssetsGrp/EOYAmt02222648
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0231782
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt077848
IRS990/TotalLiabilitiesEOYAmt082087
IRS990/TotalLiabilitiesGrp/BOYAmt077848
IRS990/TotalLiabilitiesGrp/EOYAmt082087
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02207598
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02140561
IRS990/TotalProgramServiceRevenueAmt0195001
IRS990/TotalReportableCompFromOrgAmt057016
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0235703
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0235703
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02285446
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02222648
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0999 JACKSON HARBOR RD
IRS990/USAddress/CityNm0WASHINGTON ISLAND
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd054246
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt02
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MARJORIE BJAMARSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09208472041
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WASHINGTON TOWN MUTUAL INSURANCE CO
ReturnHeader/Filer/BusinessNameControlTxt0WASH
ReturnHeader/Filer/EIN0390491630
ReturnHeader/Filer/PhoneNum09208472041
ReturnHeader/Filer/USAddress/AddressLine1Txt01246 MAIN ROAD
ReturnHeader/Filer/USAddress/CityNm0WASHINGTON ISLAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd054246
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0391520996
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ERICKSON & ASSOCIATES SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01000 WEST COLLEGE AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0APPLETON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd054914
ReturnHeader/PreparerPersonGrp/PhoneNum09207334957
ReturnHeader/PreparerPersonGrp/PreparationDt02023-05-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RANDALL F KOCH
ReturnHeader/ReturnTs02023-05-14T21:56:22-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MARJORIE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BJAMARSON
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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