Civic Intelligence

Vernon Edda Mutual Fire Insurance

990 • Fiscal year 2018 • EIN 41-0592872

Jan 01, 2018 to Dec 31, 2018 • Filed on Apr 15, 2019

Organization ProfileNone
451 2nd Street SWBlooming Prairie, MN 55917

(507) 583-4234

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

59th percentile

0.10x

Higher debt load relative to assets than 59% of similar nonprofits.

2018 filings • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

84th percentile

0.66x

Higher debt load relative to revenue than 84% of similar nonprofits.

2018 filings • $1M-$5M nonprofits • Source year 2018

Net Margin

79th percentile

26%

Higher net margin than 79% of similar nonprofits.

2018 filings • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

43rd percentile

$840

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2018 filings • $1M-$5M nonprofits • Source year 2018

Asset Growth

71st percentile

7.4%

Faster asset growth than 71% of similar nonprofits.

2018 filings • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

48th percentile

3.0%

Faster revenue growth than 48% of similar nonprofits.

2018 filings • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$1,903,103

Up $130,387 (+7.4%) from 2017

Net Assets

Up

$1,718,869

Up $71,788 (+4.4%) from 2017

Liabilities

Up

$184,234

Up $58,599 (+47%) from 2017

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin79th percentile

Revenue

Up

$277,791

Up $8,122 (+3.0%) from 2017

Expenses

Down

$206,342

Down $3,490 (-1.7%) from 2017

Net Income

Up

$71,449

Up $11,612 (+19%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth71st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2011: $1,215,794Liabilities 2011: $71,240Net Assets 2011: $1,144,5542011Assets 2012: $1,268,163Liabilities 2012: $80,927Net Assets 2012: $1,187,2362012Assets 2013: $1,386,160Liabilities 2013: $111,067Net Assets 2013: $1,275,0932013Assets 2014: $1,536,249Liabilities 2014: $134,011Net Assets 2014: $1,402,2382014Assets 2015: $1,639,152Liabilities 2015: $123,270Net Assets 2015: $1,515,8822015Assets 2016: $1,692,909Liabilities 2016: $108,578Net Assets 2016: $1,584,3312016Assets 2017: $1,772,716Liabilities 2017: $125,635Net Assets 2017: $1,647,0812017Assets 2018: $1,903,103Liabilities 2018: $184,234Net Assets 2018: $1,718,8692018Assets 2019: $1,927,833Liabilities 2019: $122,806Net Assets 2019: $1,805,0272019Assets 2020: $2,048,761Liabilities 2020: $171,920Net Assets 2020: $1,876,8412020Assets 2021: $2,223,949Liabilities 2021: $212,108Net Assets 2021: $2,011,8412021Assets 2022: $2,233,249Liabilities 2022: $193,366Net Assets 2022: $2,039,8832022Assets 2023: $2,408,265Liabilities 2023: $211,259Net Assets 2023: $2,197,0062023Assets 2024: $2,510,712Liabilities 2024: $214,323Net Assets 2024: $2,296,3892024

Highlighted filing

2018

Assets$1,903,103
Liabilities$184,234
Net Assets$1,718,869
Open 2018 Filing

Operations Trend

Revenue Growth48th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$300K$200K$100K$0Revenue 2011: $195,263Expenses 2011: $103,834Net Income 2011: $91,4292011Revenue 2012: $188,991Expenses 2012: $139,149Net Income 2012: $49,8422012Revenue 2013: $245,351Expenses 2013: $159,942Net Income 2013: $85,4092013Revenue 2014: $278,515Expenses 2014: $152,826Net Income 2014: $125,6892014Revenue 2015: $255,468Expenses 2015: $144,623Net Income 2015: $110,8452015Revenue 2016: $258,942Expenses 2016: $190,830Net Income 2016: $68,1122016Revenue 2017: $269,669Expenses 2017: $209,832Net Income 2017: $59,8372017Revenue 2018: $277,791Expenses 2018: $206,342Net Income 2018: $71,4492018Revenue 2019: $274,698Expenses 2019: $188,708Net Income 2019: $85,9902019Revenue 2020: $288,589Expenses 2020: $216,775Net Income 2020: $71,8142020Revenue 2021: $330,448Expenses 2021: $195,448Net Income 2021: $135,0002021Revenue 2022: $331,418Expenses 2022: $303,376Net Income 2022: $28,0422022Revenue 2023: $347,678Expenses 2023: $190,555Net Income 2023: $157,1232023Revenue 2024: $325,211Expenses 2024: $225,828Net Income 2024: $99,3832024

Highlighted filing

2018

Revenue$277,791
Expenses$206,342
Net Income$71,449
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Apr 15, 2019
Return Version
2018v3.1
Gross Receipts
$343,596
Mission and Program Overview

Mission

The Company provides fire and additional lines insurance coverages to policyholders/members and pays claims on covered policyholder losses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,647,081$1,718,869▲ $71,788
Investments in Publicly Traded Securities$1,260,892$1,354,224▲ $93,332
Savings and Temporary Cash Investments$437,359$446,589▲ $9,230
Cash and Non-Interest-Bearing Accounts$57,376$80,119▲ $22,743
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,772,716$1,903,103▲ $130,387
Other Assets Total$17,089$22,171▲ $5,082
Liabilities
Other Liabilities$99,350$159,124▲ $59,774
Accounts Payable and Accrued Expenses$26,285$25,110▼ $1,175
Total Liabilities$125,635$184,234▲ $58,599
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,647,081$1,718,869▲ $71,788
Total Liabilities and Net Assets / Fund Balance$1,772,716$1,903,103▲ $130,387
Compensation and Service Providers
Top Officer Pay43rd percentile

Employees

NameTitleBaseTotal
Danny LinboSecretary$840$840
Jodie TvedtDirector$840$840
Russell SkovPresident$780$780
Jerome NelsonDirector$720$720
Robert SenjemTreasurer$660$660
Duane KlockeVice-President$540$540
Oliver ThoeVice-President (Deceased)$60$60
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$226,570
Investment Income
$51,221
Other Revenue
$0
Change in Net Assets
$71,449

Audited Revenue Reconciliation

Revenue per Audited Statements
$277,791
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$277,791
Total Revenue per Form 990
$277,791
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$79,490
Salaries, Compensation, and Employee Benefits$52,779
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$74,073
Other Salaries and Wages---$41,200
All Other Expenses---$7,849
Fees for Services Legal---$5,600
Travel---$5,050
Insurance---$4,619
Current Officers, Directors, Trustees, and Key Employees---$4,440
Conferences and Meetings---$4,439
Information Technology---$4,145
Other Employee Benefits---$4,001
Other Expenses---$3,442
Payroll Taxes---$3,138
Occupancy---$3,000
Office Expenses---$1,924
Advertising---$775
Depreciation Depletion---$339
Fees for Service Investment Mgmnt Fees---$220
Total Functional Expenses$0$0$0$206,342

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$206,342
Total Expenses per Audited Statements$206,342
Total Expenses per Form 990$206,342
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Unearned Premium$93,656
Reserve for Unpaid Losses$63,385
ReinsurANCE PREMIUM PAYABLE$2,083
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
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, Part VI, Section A, line 6

“The Company has policyholders who are also the owners of the Company. It is a mutual company.”

Form 990, Part VI, Section A, line 7A

“The policyholders/owners elect the board members and officers.”

Form 990, Part VI, Section B, line 11B

“No review was conducted.”

Form 990, Part VI, Section B, line 12C

“The organization annually evaluates all conflict of interest policies submitted by board members and employees. The organization's policies are communicated annually to the board and employees and to new board members and employees upon joining the organization.”

Form 990, Part VI, Section B, line 15

“Compensation is determined by the number of meetings attended by the board member. The board determines management and staff salaries based on experience and qualifications.”

Form 990, Part VI, Section C, line 19

“The organization makes its public documents available upon request.”

Filing and Contact Details

Filer

Filer Name
Vernon Edda Mutual
EIN
41-0592872
Phone
5075834234
Address
451 2nd Street SW, Blooming Prairie, MN 55917

Signing Officer

Name
Russell Skov
Title
President
Phone
5075834234
Signed
2019-04-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Russell Skov
Formed
1874
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
7
Employees
1
Volunteers
0

Preparer

Firm
Abdo Eick & Meyers LLP
Address
100 Warren St Ste 600, Mankato, MN 56001
Preparer
Thomas J Olinger CPA
Phone
5076252727
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“Change in non-admitted assets 339.”

Form 990, Part XII, Line 1:

“As a regulated entity, the organization is required to report using statutory accounting rules as codified in Minnesota Statute 67A and as promulgated by the Department of Commerce of the State of Minnesota. The most significant item of this statutory basis of accounting is the exclusion of "non-admitted assets" (as described above) from the reported assets.”

Form 990 Part XII Line 2B

“The entire board serves as the audit committee.”

Financial Statement Notes

Part X, Line 2:

“As of December 31, 2018, the Company has not identified any material loss contingencies arising from uncertain tax positions.”

Raw XML Appendix361 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.

Path#Value
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
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IRS990ScheduleD/TotalLiabilityAmt0159124
IRS990ScheduleD/TotalRevenuePerForm990Amt0277791
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0277791
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0206342
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Company has policyholders who are also the owners of the Company. It is a mutual company.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The policyholders/owners elect the board members and officers.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2No review was conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization annually evaluates all conflict of interest policies submitted by board members and employees. The organization's policies are communicated annually to the board and employees and to new board members and employees upon joining the organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Compensation is determined by the number of meetings attended by the board member. The board determines management and staff salaries based on experience and qualifications.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The organization makes its public documents available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Change in non-admitted assets 339.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7As a regulated entity, the organization is required to report using statutory accounting rules as codified in Minnesota Statute 67A and as promulgated by the Department of Commerce of the State of Minnesota. The most significant item of this statutory basis of accounting is the exclusion of "non-admitted assets" (as described above) from the reported assets.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8The entire board serves as the audit committee.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XI, line 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part XII, Line 1:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990 Part XII Line 2b
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01772716
IRS990/TotalAssetsEOYAmt01903103
IRS990/TotalAssetsGrp/BOYAmt01772716
IRS990/TotalAssetsGrp/EOYAmt01903103
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/TotalAmt0206342
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0125635
IRS990/TotalLiabilitiesEOYAmt0184234
IRS990/TotalLiabilitiesGrp/BOYAmt0125635
IRS990/TotalLiabilitiesGrp/EOYAmt0184234
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01647081
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01718869
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0226570
IRS990/TotalReportableCompFromOrgAmt04440
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0277791
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0277791
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01772716
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01903103
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt05050
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt071769 50th Avenue
IRS990/USAddress/CityNm0Hayfield
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055940
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0None
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-01-14 16:20:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Russell Skov
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum05075834234
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-04-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Vernon Edda Mutual
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0Fire Insurance Company
ReturnHeader/Filer/BusinessNameControlTxt0VERN
ReturnHeader/Filer/EIN0410592872
ReturnHeader/Filer/PhoneNum05075834234
ReturnHeader/Filer/USAddress/AddressLine1Txt0451 2nd Street SW
ReturnHeader/Filer/USAddress/CityNm0Blooming Prairie
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055917
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0C8F0E1C4E6903DC31232B69670B032D93A54CB58
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0C8F0E1C4E6903DC31232B69670B032D93A54CB58
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt064.88.174.3
ReturnHeader/FilingSecurityInformation/IPDt02019-04-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm016:25:51
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411397419
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Abdo Eick & Meyers LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 Warren St Ste 600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Mankato
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd056001
ReturnHeader/PreparerPersonGrp/PhoneNum05076252727
ReturnHeader/PreparerPersonGrp/PreparationDt02019-04-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Thomas J Olinger CPA
ReturnHeader/ReturnTs02019-04-24T11:37:36-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,903,103
Liabilities
$184,234
Net assets
$1,718,869
Revenue
$277,791
Expenses
$206,342
Net income
$71,449
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.51$0.21$2.30$0.33$0.23$0.10
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.41$0.21$2.20$0.35$0.19$0.16
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.23$0.19$2.04$0.33$0.30$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.22$0.21$2.01$0.33$0.20$0.14
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.05$0.17$1.88$0.29$0.22$0.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.93$0.12$1.81$0.27$0.19$0.09
2018Detailed filing. Detailed filing data is available for this year.$1.90$0.18$1.72$0.28$0.21$0.07
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.77$0.13$1.65$0.27$0.21$0.06
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.69$0.11$1.58$0.26$0.19$0.07
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.64$0.12$1.52$0.26$0.14$0.11
2014Summary only. Only limited summary data is available for this year.$1.54$0.13$1.40$0.28$0.15$0.13
2013Summary only. Only limited summary data is available for this year.$1.39$0.11$1.28$0.25$0.16$0.09
2012Summary only. Only limited summary data is available for this year.$1.27$0.08$1.19$0.19$0.14$0.05
2011Summary only. Only limited summary data is available for this year.$1.22$0.07$1.14$0.20$0.10$0.09