Clark Mutual Insurance Company

“DEBBIE SUTER OFFICE SEC.”

“Clark mutual's policyholders are the owners of the mutual, represented by a seven person board of directors.”

“The seven member board of directors are elected to a term of 3 years.”

“Clark mutual's form 990 is reviewed by management and discussed in a board meeting.”

“Statements are signed by all directors annually. Any director with a conflict abstains from discussing and voting on the related issue.”

“Each policyholder gets a copy of the articles and bylaws. The conflict of interest policy and the financial statements are available upon request.”

“For tax years beginning after december 31, 1986 exemption is granted under 501(c) (15) to mutual insurance companies or associations other than life, if its gross receipts for the year do not exceed 600,000, and the premiums for the year total more than 50% of the organization's gross receipts. Clark mutual insurance company is exempt under section 501(c) (15) due to meeting both requirements. Schedule of gross receipts for filing requirements: 266,788 total income per annual statement 25,475 change in unearned premium reserve 87,003 aggregate excess reinsurance premiums paid 379,266 total gross receipts since < 600,000 entity is tax-exempt under 501 (c) (15) reconciliation of net income per annual statement vs net income per 990: (91,169) annual statement 173 book to tax depr difference (91,342) form 990 - part i, line 19 - revenue less expenses”

“To provide insurance for our customers on farm property and residential property at a competitive price and to provide superior customer service in all aspects of business underwriting, claim and policy issuance.”

“Book / tax depreciation difference 173 increase in ledger-liabilities 2,646 rounding 4 decrease in non-ledger assets -1,188 total 1,635”