Civic Intelligence

Svea Mutual Insurance Association

EIN 42-6073120 • 501(c)15 • Swedesburg, IA

Profile

To provide property insurance to members

PO Box 35 1903 140th StSwedesburg, IA 52652

n/A

Siviq Scores

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

Liabilities / Assets

65th percentile

0.09x

Higher debt load relative to assets than 65% of similar nonprofits.

501(c)15 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

67th percentile

0.48x

Higher debt load relative to revenue than 67% of similar nonprofits.

501(c)15 • $1M-$5M nonprofits • Source year 2023

Net Margin

71st percentile

20%

Higher net margin than 71% of similar nonprofits.

501(c)15 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

63rd percentile

3.7%

Faster asset growth than 63% of similar nonprofits.

501(c)15 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

59th percentile

13%

Faster revenue growth than 59% of similar nonprofits.

$1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$2,854,045

Up $101,634 (+3.7%) from 2022

Liabilities

Up

$261,264

Up $36,636 (+16%) from 2022

Net Assets

Up

$2,592,781

Up $64,998 (+2.6%) from 2022

Revenue

Up

$546,441

Up $62,823 (+13%) from 2022

Expenses

Up

$437,698

Up $108,909 (+33%) from 2022

Net Income

Down

$108,743

Down $46,086 (-30%) 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 2010: $1,919,877Liabilities 2010: $113,042Net Assets 2010: $1,806,8352010Assets 2011: $2,026,707Liabilities 2011: $114,721Net Assets 2011: $1,911,9862011Assets 2012: $2,053,805Liabilities 2012: $123,320Net Assets 2012: $1,930,4852012Assets 2013: $2,084,942Liabilities 2013: $146,203Net Assets 2013: $1,938,7392013Assets 2014: $2,144,820Liabilities 2014: $177,012Net Assets 2014: $1,967,8082014Assets 2015: $2,070,499Liabilities 2015: $165,294Net Assets 2015: $1,905,2052015Assets 2016: $2,141,132Liabilities 2016: $185,517Net Assets 2016: $1,955,6152016Assets 2017: $2,177,095Liabilities 2017: $234,757Net Assets 2017: $1,942,3382017Assets 2018: $2,255,272Liabilities 2018: $193,615Net Assets 2018: $2,061,6572018Assets 2019: $2,402,158Liabilities 2019: $213,534Net Assets 2019: $2,188,6242019Assets 2020: $2,386,565Liabilities 2020: $194,663Net Assets 2020: $2,191,9022020Assets 2021: $2,593,263Liabilities 2021: $224,720Net Assets 2021: $2,368,5432021Assets 2022: $2,752,411Liabilities 2022: $224,628Net Assets 2022: $2,527,7832022Assets 2023: $2,854,045Liabilities 2023: $261,264Net Assets 2023: $2,592,7812023

Highlighted filing

2023

Assets$2,854,045
Liabilities$261,264
Net Assets$2,592,781

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2010: $352,7272010Expenses 2011: $291,3282011Expenses 2012: $386,8092012Revenue 2013: $438,816Expenses 2013: $412,509Net Income 2013: $26,3072013Revenue 2014: $444,985Expenses 2014: $375,517Net Income 2014: $69,4682014Revenue 2015: $457,810Expenses 2015: $557,879Net Income 2015: -$100,0692015Revenue 2016: $464,799Expenses 2016: $375,413Net Income 2016: $89,3862016Revenue 2017: $509,082Expenses 2017: $471,748Net Income 2017: $37,3342017Revenue 2018: $525,064Expenses 2018: $445,625Net Income 2018: $79,4392018Revenue 2019: $484,292Expenses 2019: $172,451Net Income 2019: $311,8412019Revenue 2020: $495,116Expenses 2020: $512,084Net Income 2020: -$16,9682020Revenue 2021: $485,229Expenses 2021: $277,675Net Income 2021: $207,5542021Revenue 2022: $483,618Expenses 2022: $328,789Net Income 2022: $154,8292022Revenue 2023: $546,441Expenses 2023: $437,698Net Income 2023: $108,7432023

Highlighted filing

2023

Revenue$546,441
Expenses$437,698
Net Income$108,743

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.85$0.26$2.59$0.55$0.44$0.11
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.75$0.22$2.53$0.48$0.33$0.15
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.59$0.22$2.37$0.49$0.28$0.21
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.39$0.19$2.19$0.50$0.51$0.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.40$0.21$2.19$0.48$0.17$0.31
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.26$0.19$2.06$0.53$0.45$0.08
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.18$0.23$1.94$0.51$0.47$0.04
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.14$0.19$1.96$0.46$0.38$0.09
2015Detailed filing. Detailed filing data is available for this year.$2.07$0.17$1.91$0.46$0.56$0.10
2014Detailed filing. Detailed filing data is available for this year.$2.14$0.18$1.97$0.44$0.38$0.07
2013Detailed filing. Detailed filing data is available for this year.$2.08$0.15$1.94$0.44$0.41$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.05$0.12$1.93$0.39
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.03$0.11$1.91$0.29
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.92$0.11$1.81$0.35
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
Oct 26, 2023
Return Version
2022v5.0
Gross Receipts
$483,618
Mission and Program Overview

Mission

To provide property insurance to members. Serving henry county, iowa and its neighboring counties.

To provide property insurance to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,990,000$2,140,000▲ $150,000
Cash and Non-Interest-Bearing Accounts$344,758$350,977▲ $6,219
Investments in Publicly Traded Securities$250,766$250,343▼ $423
Other Notes and Loans Receivable, Net$6,596$9,725▲ $3,129
Accounts Receivable$1,143$1,366▲ $223
Total Assets$2,593,263$2,752,411▲ $159,148
Liabilities
Other Liabilities$203,293$202,887▼ $406
Accounts Payable and Accrued Expenses$21,427$21,741▲ $314
Total Liabilities$224,720$224,628▼ $92
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,368,543$2,527,783▲ $159,240
Total Net Assets Fund Balance$2,368,543$2,527,783▲ $159,240
Total Liabilities and Net Assets / Fund Balance$2,593,263$2,752,411▲ $159,148
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Monte KannSecretary/trFT$44,458$31,871$76,329
Carl AlvinePresident-$3,500$875$4,375
Arthur LauerVice Preside-$100-$100
Gary L AndersonDirector-$100-$100
Stan UnkrichDirector-$100-$100
William McgohanDirector-$100-$100
Kent BakerDirector-$50-$50
Tom McallisterDirector-$50-$50

Board Members and Trustees

NameTitle
John WickhamDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$438,916
Investment Income
$39,999
Other Revenue
$4,703
Change in Net Assets
$154,829
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$243,855
Salaries, Compensation, and Employee Benefits$84,934
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---$81,205
All Other Expenses---$15,902
Other Expenses---$8,750
Insurance---$5,837
Occupancy---$3,741
Payroll Taxes---$3,729
Advertising---$3,555
Fees for Services Accounting---$1,395
Fees for Services Legal---$312
Total Functional Expenses$0$0$0$328,789
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 Reserve$186,102
Accrued Reinsurance Premiums$13,663
Premiums Collected - Others Not Remi$3,122
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
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

Svea mutual's policyholders are the member owners of the association.

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

The policyholders elect the board of directors.

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

Changes to the by-laws and articles of incorporation require a vote of the membership.

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

The form 990 is reviewed by the secretary/manager before filing.

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

All directors and officers sign a conflict of interest statement annually and the board reviews the statements.

Form 990, Page 6, Part VI, Line 15A

Board reviews and approves salaries each year.

Form 990, Page 6, Part VI, Line 15B

Board reviews and approves salaries each year.

Form 990, Page 6, Part VI, Line 19

This information is available upon request. The financial statements are available in the form of the annual statement on the iowa insurance division's website.

Filing and Contact Details

Filer

Filer Name
Svea Mutual Insurance Association
EIN
42-6073120
Phone
3192542288
Address
PO BOX 35 1903 140TH ST, SWEDESBURG, IA 52652

Signing Officer

Name
Monte Kann
Title
Secretary/treasurer
Phone
3192542288
Signed
2023-10-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Monte Kann
Formed
1875
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
1
Employees
2

Preparer

Firm
Tdt Cpas and Advisors Pc
Address
204 NORTH MAIN, MT PLEASANT, IA 52641
Preparer
Amanda L Lane CPA
Phone
3193859718
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Accrual basis balance sheet adjustment 4,441

Raw XML Appendix338 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/BooksInCareOfDetail/USAddress/CityNm0SWEDESBURG
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IRS990/BooksInCareOfDetail/USAddress/ZIPCd052652
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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0UNEARNED PREMIUM RESERVE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED REINSURANCE PREMIUMS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2PREMIUMS COLLECTED - OTHERS NOT REMI
IRS990ScheduleD/TotalLiabilityAmt0202887
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SVEA MUTUAL'S POLICYHOLDERS ARE THE MEMBER OWNERS OF THE ASSOCIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE POLICYHOLDERS ELECT THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CHANGES TO THE BY-LAWS AND ARTICLES OF INCORPORATION REQUIRE A VOTE OF THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS REVIEWED BY THE SECRETARY/MANAGER BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL DIRECTORS AND OFFICERS SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY AND THE BOARD REVIEWS THE STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOARD REVIEWS AND APPROVES SALARIES EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6BOARD REVIEWS AND APPROVES SALARIES EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THIS INFORMATION IS AVAILABLE UPON REQUEST. THE FINANCIAL STATEMENTS ARE AVAILABLE IN THE FORM OF THE ANNUAL STATEMENT ON THE IOWA INSURANCE DIVISION'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8ACCRUAL BASIS BALANCE SHEET ADJUSTMENT 4,441
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 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART XI, LINE 9
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02593263
IRS990/TotalAssetsEOYAmt02752411
IRS990/TotalAssetsGrp/BOYAmt02593263
IRS990/TotalAssetsGrp/EOYAmt02752411
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0328789
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0224720
IRS990/TotalLiabilitiesEOYAmt0224628
IRS990/TotalLiabilitiesGrp/BOYAmt0224720
IRS990/TotalLiabilitiesGrp/EOYAmt0224628
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02368543
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02527783
IRS990/TotalOtherCompensationAmt032746
IRS990/TotalProgramServiceRevenueAmt0438916
IRS990/TotalReportableCompFromOrgAmt048458
IRS990/TotalRevenueGrp/ExclusionAmt039999
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0443619
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0483618
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02593263
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02752411
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 35
IRS990/USAddress/CityNm0SWEDESBURG
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052652
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt01
IRS990/WhistleblowerPolicyInd0false
IRS990/WrittenPolicyOrProcedureInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MONTE KANN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03192542288
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-10-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SVEA MUTUAL INSURANCE ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0SVEA
ReturnHeader/Filer/EIN0426073120
ReturnHeader/Filer/PhoneNum03192542288
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 35 1903 140TH ST
ReturnHeader/Filer/USAddress/CityNm0SWEDESBURG
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd052652
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421029744
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TDT CPAS AND ADVISORS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0204 NORTH MAIN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MT PLEASANT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd052641
ReturnHeader/PreparerPersonGrp/PhoneNum03193859718
ReturnHeader/PreparerPersonGrp/PreparationDt02023-10-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0AMANDA L LANE CPA
ReturnHeader/ReturnTs02023-11-02T10:14:46-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MONTE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0KANN
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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