Liabilities / Assets
60th percentile
Higher debt load relative to assets than 60% of similar nonprofits.
Terrafirma Risk Retention Group LLC
990 • Fiscal year 2016 • EIN 45-1437560
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.28x
Liabilities / Revenue
84th percentile
Higher debt load relative to revenue than 84% of similar nonprofits.
Net Margin
47th percentile
Higher net margin than 47% of similar nonprofits.
Top Officer Pay
19th percentile
Higher top officer pay than 19% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
70th percentile
Faster asset growth than 70% of similar nonprofits.
Revenue Growth
66th percentile
Faster revenue growth than 66% of similar nonprofits.
Balance Sheet
Assets
Up$6,486,611
Up $491,543 (+8.2%) from 2015
Net Assets
Up$4,645,752
Up $59,054 (+1.3%) from 2015
Liabilities
Up$1,840,859
Up $432,489 (+31%) from 2015
Revenue And Expenses
Revenue
Up$1,377,945
Up $112,654 (+8.9%) from 2015
Expenses
Up$1,360,243
Up $107,617 (+8.6%) from 2015
Net Income
Up$17,702
Up $5,037 (+40%) from 2015
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2016 to Dec 31, 2016
- Signed
- Mar 13, 2017
- Return Version
- 2016v3.0
- Gross Receipts
- $3,444,591
Mission and Program Overview
Mission
The primary exempt purpose of terrafirma is to operate as a qualifiedcharitable risk pool pursuant to i.r.c. Section 501(n).
SEE PAGE 2, PART III.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments Other Securities | $5,649,394 | $5,611,032 | ▼ $38,362 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $4,251,000 | $4,252,600 | ▲ $1,600 |
| Savings and Temporary Cash Investments | $208,402 | $594,110 | ▲ $385,708 |
| Rtn Earn Endowment Incm Other Fnds | $335,698 | $393,152 | ▲ $57,454 |
| Cash and Non-Interest-Bearing Accounts | $75,003 | $238,821 | ▲ $163,818 |
| Land, Buildings, and Equipment, Net | $25,022 | $8,340 | ▼ $16,682 |
| Prepaid Expenses and Deferred Charges | $7,187 | $7,408 | ▲ $221 |
| Cap Stk Tr Prin Current Funds | $0 | $0 | → $0 |
| Total Assets | $5,995,068 | $6,486,611 | ▲ $491,543 |
| Other Assets Total | $30,060 | $26,900 | ▼ $3,160 |
| Liabilities | |||
| Other Liabilities | $1,119,646 | $1,544,253 | ▲ $424,607 |
| Deferred Revenue | $222,685 | $231,132 | ▲ $8,447 |
| Accounts Payable and Accrued Expenses | $66,039 | $65,474 | ▼ $565 |
| Total Liabilities | $1,408,370 | $1,840,859 | ▲ $432,489 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $4,586,698 | $4,645,752 | ▲ $59,054 |
| Total Liabilities and Net Assets / Fund Balance | $5,995,068 | $6,486,611 | ▲ $491,543 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Other Land Buildings | $8,340 | $75,066 | $83,406 |
| Other Securities | $474,597 | - | - |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Andrew Bowman See Sch O | President - Arms |
| Leslie Ratley-beach See Sch O | Vice President & Secretary - Arms |
| Angela Twitchell | Members Committee |
| Becky Thorton | Members Committee |
| Curt Gleaves | Members Committee |
| Grant Smith | Members Committee |
| Harry Pollack | Members Committee |
| Keith Gerrard | Members Committee |
| Kevin C Hicks | Members Committee |
| William G Hauserman | Members Committee |
| William L Gebo | Members Committee |
| Marilyn Ayres See Sch O | Treasurer - Arms |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Alliance Risk Management Services LLC | Management | 1660 L STREET NW SUITE 1100, Washington, DC 20036 | $187,000 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $1,600
- Program Service Revenue
- $1,299,587
- Investment Income
- $76,758
- Other Revenue
- $0
- All Other Contributions
- $1,600
- Change in Net Assets
- $17,702
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $1,352,422
- Revenue Not Reported on Financial Statements
- $25,523
- Revenue Not Reported on Form 990
- $0
- Other Revenue Adjustments
- $1,600
- Total Revenue per Audited Statements
- $1,352,422
- Total Revenue per Form 990
- $1,377,945
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $1,360,243 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Fees for Services Management | - | $86,350 | - | $86,350 |
| Other Expenses | $37,686 | $40,858 | - | $37,686 |
| Fees for Service Investment Mgmnt Fees | - | $23,923 | - | $23,923 |
| Fees for Services Legal | - | $20,832 | - | $20,832 |
| Conferences and Meetings | - | $20,498 | - | $20,498 |
| Fees for Services Accounting | - | $19,723 | - | $19,723 |
| Depreciation Depletion | - | $16,681 | - | $16,681 |
| Insurance | - | $11,023 | - | $11,023 |
| Information Technology | - | $7,857 | - | $7,857 |
| Fees for Services Other | - | $6,598 | - | $6,598 |
| All Other Expenses | - | $5,657 | - | $5,657 |
| Advertising | - | $492 | - | $492 |
| Total Functional Expenses | $912,751 | $447,492 | $0 | $1,360,243 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Form 990 | $1,360,243 |
| Expenses per Audited Statements | $1,336,320 |
| Total Expenses per Audited Statements | $1,336,320 |
| Expenses Not Reported on Financial Statements | $23,923 |
| 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 Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Unpaid Losses and Loss Adjustment Expenses | $1,544,253 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- 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
- 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
- Yes
Governance Explanations
Form 990, Part VI, Section A, Line 3
“Terrafirma is a charitable risk pool and licensed insurer. As such, it is highly regulated by the state of vermont and is required to contract with a financial manager to whom substantial functions are delegated. Terrafirma is a limited liability company with a non-member manager to which the members have delegated significant operational powers under a formal operating agreement.”
Form 990, Part VI, Section A, Line 6
“Terrafirma had 494 land trust members.”
Form 990, Part VI, Section A, Line 7A
“The operating agreement specifies the election of the member committee by the members of the llc.”
Form 990, Part VI, Section A, Line 7B
“The manager may be a supermajority of members and the members committee.”
Form 990, Part VI, Section B, Line 11B
“After the tax advisor completes a draft of the form 990, the managers of terrafirma review the form and ask for any clarification, then the full members committee and audit committee receives the form and reviews it carefully prior to signing and filing the form. The members committee and audit committee questions are answered in full by the managers prior to signing and filing.”
Form 990, Part VI, Section B, Line 12C
“The members committee, claims committee and arms officers all file annual conflicts and disclosures which the managers review annually.”
Form 990, Part VI, Section B, Line 15
“The members committee and claims committee are not compensated. The managers are paid on contract approved by the members committee.”
Form 990, Part VI, Section C, Line 19
“The form 990 is available on the website and upon request. The governing documents, conflict of interest policy, and financial statements are also available upon request.”
Form 990, Part VII, Section A, Line 1A
“Terrafirma has no officers; the officers of its manager, alliance risk management services llc, are listed in part vii solely because they are acting as the top management official and top financial official. As a manager-managed llc with a members committee, there are no directors, trustees or officers and terrafirma has no employees. The individuals listed as members committee are not a board of directors. As a manager-managed llc, the members committee of terrafirma represents the llc members and has certain enumerated governance duties set forth in the operating agreement.”
Filing and Contact Details
Filer
- Filer Name
- Terrafirma Risk Retention Group LLC
- EIN
- 45-1437560
- Phone
- 8022626051
- Address
- 100 BANK STREET NO 610, BURLINGTON, VT 05401
Signing Officer
- Name
- Leslie Ratley-beach
- Title
- VP & Secretary of Arms
- Phone
- 8022626051
- Signed
- 2017-03-13
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Leslie Ratley-beach
- Formed
- 2011
- Legal Domicile
- Vt
- Voting Board Members
- 9
- Independent Board Members
- 9
- Employees
- 0
- Volunteers
- 0
Preparer
- Firm
- Johnson Lambert Llp
- Address
- PO BOX 525, BURLINGTON, VT 05402
- Preparer
- Matt T Gravelin CPA
- Phone
- 8023834800
Supplemental Narrative
Financial Statement Notes
PART X, LINE 2:
“Terrafirma received exemption from federal income taxes on related income under section 501(c)(3) of the internal revenue code. Accordingly, no provision for federal income taxes has been recorded in the accompanying financial statements. Terrafirma has not taken any uncertain tax positions that would jeopardize its federal income tax exemption status.”
PART XI, LINE 4B - OTHER ADJUSTMENTS:
“Contributed capital: $1,600 1,600.”
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| IRS990/Desc | 0 | THE PRIMARY PURPOSE OF TERRAFIRMA IS TO OPERATE AS A QUALIFIED CHARITABLE RISK POOL PURSUANT TO I.R.C. SECTION 501(N), ORGANIZED AND OPERATED TO POOL AND INSURE THE INSURANCE RISKS OF ITS MEMBERS AND TO PROVIDE INFORMATION TO ITS MEMBERS WITH RESPECT TO LOSS CONTROL AND RISK MANAGEMENT. EACH MEMBER OF SUCH POOL SHALL AT ALL TIMES BE AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) AND EXEMPT FROM INCOME TAX UNDER SECTION 501(A). FUNDAMENTALY, TERRAFIRMA IS DESIGNED TO PROVIDE A SAFETY NET FOR A CHARITABLE LAND TRUST FROM CATASTROPHIC LEGAL EXPENSES AND PROVIDE THE CONFIDENCE AND CAPABILITY TO UPHOLD OUR CONSERVATION OBLIGATIONS FOREVER. HOWEVER, TERRAFIRMA WILL ALSO OFFER LOSS PREVENTION AND RISK MANAGEMENT SERVICES TO ITS MEMBERS...CONTINUED ON SCHEDULE O...THROUGH ALLIANCE RISK MANAGEMENT SERVICES, LLC (ARMS), A WHOLLY OWNED SUBSIDIARY OF THE LAND TRUST ALLIANCE, INC. AND THE MANAGER OF TERRAFIRMA WILL ALSO PROVIDE FREE CLAIMS ASSISTANCE TO LAND TRUSTS AND EARLY ADVICE TO ASSIST DISPUTE RESOLUTION AND AVOID UNNECESSARY LITIGATION. |
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| IRS990/FSAuditedInd | 0 | 1 |
| IRS990/FundraisingActivitiesInd | 0 | 0 |
| IRS990/GainOrLossGrp/SecuritiesAmt | 0 | -11829 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 9 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt | 0 | 2054817 |
| IRS990/GrossReceiptsAmt | 0 | 3444591 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 1 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 1 |
| IRS990/IndependentVotingMemberCnt | 0 | 9 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt | 0 | 7857 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 7857 |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 11023 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 11023 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 88587 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 88587 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt | 0 | 5649394 |
| IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt | 0 | 5611032 |
| IRS990/IRPDocumentCnt | 0 | 14 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 75066 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 25022 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 8340 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 83406 |
| IRS990/LegalDomicileStateCd | 0 | VT |
| IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt | 0 | 2066646 |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 1 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | THE PRIMARY EXEMPT PURPOSE OF TERRAFIRMA IS TO OPERATE AS A QUALIFIED CHARITABLE RISK POOL PURSUANT TO I.R.C. SECTION 501(N). |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 4586698 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 4645752 |
| IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt | 0 | -11829 |
| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | -11829 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NetUnrlzdGainsLossesInvstAmt | 0 | 41352 |
| IRS990/NoListedPersonsCompensatedInd | 0 | X |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrgDoesNotFollowSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 30060 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 26900 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherExpensesGrp/Desc | 0 | INSURANCE LOSSES |
| IRS990/OtherExpensesGrp/Desc | 1 | ARMS CONTRACT |
| IRS990/OtherExpensesGrp/Desc | 2 | PREMIUM TAX |
| IRS990/OtherExpensesGrp/Desc | 3 | REGULATORY & LICENSING |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 187000 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 40858 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 875065 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 37686 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 875065 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 187000 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 40858 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 37686 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 1119646 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 1544253 |
| IRS990/OtherOrganizationDsc | 0 | LLC |
| IRS990/OwnWebsiteInd | 0 | X |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | 4251000 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | 4252600 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 7187 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 7408 |
| IRS990/PrincipalOfficerNm | 0 | LESLIE RATLEY-BEACH |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 524298 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 524298 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | EARNED PREMIUMS |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | REGISTRATION FEES |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 1289912 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 9675 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 1289912 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 9675 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 2300 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 58574 |
| IRS990/PYOtherExpensesAmt | 0 | 1252626 |
| IRS990/PYOtherRevenueAmt | 0 | 0 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 1204417 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 12665 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 0 |
| IRS990/PYTotalExpensesAmt | 0 | 1252626 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 1265291 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 17702 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 0 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 1 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 1299587 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 335698 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 393152 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 208402 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 594110 |
| IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt | 0 | 0 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt | 0 | 1600 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt | 0 | 2300 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 800 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 2400 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 4199200 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt | 0 | 4206300 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt | 0 | 88587 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt | 0 | 60394 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 31161 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 22342 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 5362 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt | 0 | 207846 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt | 0 | 1299587 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt | 0 | 1204417 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt | 0 | 1101893 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt | 0 | 876472 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt | 0 | 10325 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt | 0 | 4492694 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt | 0 | 88587 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt | 0 | 60394 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt | 0 | 31161 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt | 0 | 22342 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt | 0 | 5362 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt | 0 | 207846 |
| IRS990ScheduleA/InvestmentIncomeCYPct | 0 | 0.02330 |
| IRS990ScheduleA/PubliclySupportedOrg509a2Ind | 0 | X |
| IRS990ScheduleA/PublicSupportCY509Pct | 0 | 0.97670 |
| IRS990ScheduleA/PublicSupportTotal509Amt | 0 | 8698994 |
| IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt | 0 | 0 |
| IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt | 0 | 0 |
| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind | 0 | X |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt | 0 | 1301187 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt | 0 | 1206717 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 1102693 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 878872 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 4209525 |
| IRS990ScheduleA/Total509Grp/TotalAmt | 0 | 8698994 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt | 0 | 1389774 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt | 0 | 1267111 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt | 0 | 1133854 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt | 0 | 901214 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt | 0 | 4214887 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt | 0 | 8906840 |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 23923 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 1336320 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/InvestmentExpensesNotIncld2Amt | 0 | 23923 |
| IRS990ScheduleD/InvestmentExpensesNotIncldAmt | 0 | 23923 |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 8340 |
| IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt | 0 | 75066 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 83406 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 1544253 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | UNPAID LOSSES AND LOSS ADJUSTMENT EXPENSES |
| IRS990ScheduleD/OtherRevenuesNotIncludedAmt | 0 | 1600 |
| IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt | 0 | 3044790 |
| IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt | 1 | 2091645 |
| IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt | 2 | 474597 |
| IRS990ScheduleD/OtherSecuritiesGrp/Desc | 0 | US TREASURY BONDS AND GOVERNMENT SECURITIES |
| IRS990ScheduleD/OtherSecuritiesGrp/Desc | 1 | CORPORATE BONDS |
| IRS990ScheduleD/OtherSecuritiesGrp/Desc | 2 | COMMON STOCK |
| IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd | 0 | F |
| IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd | 1 | F |
| IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd | 2 | F |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 0 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 25523 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 1352422 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | TERRAFIRMA RECEIVED EXEMPTION FROM FEDERAL INCOME TAXES ON RELATED INCOME UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR FEDERAL INCOME TAXES HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. TERRAFIRMA HAS NOT TAKEN ANY UNCERTAIN TAX POSITIONS THAT WOULD JEOPARDIZE ITS FEDERAL INCOME TAX EXEMPTION STATUS. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | CONTRIBUTED CAPITAL: $1,600 1,600. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART XI, LINE 4B - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 8340 |
| IRS990ScheduleD/TotalBookValueSecuritiesAmt | 0 | 5611032 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 1360243 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 1544253 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 1377945 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 1352422 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 1336320 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | TERRAFIRMA IS A CHARITABLE RISK POOL AND LICENSED INSURER. AS SUCH, IT IS HIGHLY REGULATED BY THE STATE OF VERMONT AND IS REQUIRED TO CONTRACT WITH A FINANCIAL MANAGER TO WHOM SUBSTANTIAL FUNCTIONS ARE DELEGATED. TERRAFIRMA IS A LIMITED LIABILITY COMPANY WITH A NON-MEMBER MANAGER TO WHICH THE MEMBERS HAVE DELEGATED SIGNIFICANT OPERATIONAL POWERS UNDER A FORMAL OPERATING AGREEMENT. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | TERRAFIRMA HAD 494 LAND TRUST MEMBERS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE OPERATING AGREEMENT SPECIFIES THE ELECTION OF THE MEMBER COMMITTEE BY THE MEMBERS OF THE LLC. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE MANAGER MAY BE A SUPERMAJORITY OF MEMBERS AND THE MEMBERS COMMITTEE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | AFTER THE TAX ADVISOR COMPLETES A DRAFT OF THE FORM 990, THE MANAGERS OF TERRAFIRMA REVIEW THE FORM AND ASK FOR ANY CLARIFICATION, THEN THE FULL MEMBERS COMMITTEE AND AUDIT COMMITTEE RECEIVES THE FORM AND REVIEWS IT CAREFULLY PRIOR TO SIGNING AND FILING THE FORM. THE MEMBERS COMMITTEE AND AUDIT COMMITTEE QUESTIONS ARE ANSWERED IN FULL BY THE MANAGERS PRIOR TO SIGNING AND FILING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | THE MEMBERS COMMITTEE, CLAIMS COMMITTEE AND ARMS OFFICERS ALL FILE ANNUAL CONFLICTS AND DISCLOSURES WHICH THE MANAGERS REVIEW ANNUALLY. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | THE MEMBERS COMMITTEE AND CLAIMS COMMITTEE ARE NOT COMPENSATED. THE MANAGERS ARE PAID ON CONTRACT APPROVED BY THE MEMBERS COMMITTEE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | THE FORM 990 IS AVAILABLE ON THE WEBSITE AND UPON REQUEST. THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE ALSO AVAILABLE UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 8 | TERRAFIRMA HAS NO OFFICERS; THE OFFICERS OF ITS MANAGER, ALLIANCE RISK MANAGEMENT SERVICES LLC, ARE LISTED IN PART VII SOLELY BECAUSE THEY ARE ACTING AS THE TOP MANAGEMENT OFFICIAL AND TOP FINANCIAL OFFICIAL. AS A MANAGER-MANAGED LLC WITH A MEMBERS COMMITTEE, THERE ARE NO DIRECTORS, TRUSTEES OR OFFICERS AND TERRAFIRMA HAS NO EMPLOYEES. THE INDIVIDUALS LISTED AS MEMBERS COMMITTEE ARE NOT A BOARD OF DIRECTORS. AS A MANAGER-MANAGED LLC, THE MEMBERS COMMITTEE OF TERRAFIRMA REPRESENTS THE LLC MEMBERS AND HAS CERTAIN ENUMERATED GOVERNANCE DUTIES SET FORTH IN THE OPERATING AGREEMENT. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION A, LINE 3 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION A, LINE 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION A, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART VI, SECTION A, LINE 7B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PART VI, SECTION B, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PART VI, SECTION B, LINE 12C |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2016 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $6,486,611
- Liabilities
- $1,840,859
- Net assets
- $4,645,752
- Revenue
- $1,377,945
- Expenses
- $1,360,243
- Net income
- $17,702