Civic Intelligence

Lac Assurance Ltd

990 • Fiscal year 2021 • EIN 46-4310313

Jan 01, 2021 to Dec 31, 2021 • Filed on Jul 28, 2022

1635 N Greenfield Road Suite 127Mesa, AZ 85205

(318) 537-8387

Siviq Scores

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

Liabilities / Assets

40th percentile

0.00x

Higher debt load relative to assets than 40% of similar nonprofits.

2021 filings • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

49th percentile

0.04x

Higher debt load relative to revenue than 49% of similar nonprofits.

2021 filings • $1M-$5M nonprofits • Source year 2021

Net Margin

94th percentile

80%

Higher net margin than 94% of similar nonprofits.

2021 filings • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

46th percentile

$0

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • $1M-$5M nonprofits • Source year 2021

Asset Growth

45th percentile

5.1%

Faster asset growth than 45% of similar nonprofits.

2021 filings • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

15th percentile

-19%

Faster revenue growth than 15% of similar nonprofits.

2021 filings • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$3,157,503

Up $152,848 (+5.1%) from 2020

Net Assets

Up

$3,145,826

Up $154,537 (+5.2%) from 2020

Liabilities

Down

$11,677

Down $1,689 (-13%) from 2020

Revenue

Down

$311,749

Down $71,923 (-19%) from 2020

Expenses

Up

$63,166

Up $12,590 (+25%) from 2020

Net Income

Down

$248,583

Down $84,513 (-25%) from 2020

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2020: $3,004,655Liabilities 2020: $13,366Net Assets 2020: $2,991,2892020Assets 2021: $3,157,503Liabilities 2021: $11,677Net Assets 2021: $3,145,8262021Assets 2022: $2,960,786Liabilities 2022: $361,990Net Assets 2022: $2,598,7962022Assets 2023: $3,487,379Liabilities 2023: $382,349Net Assets 2023: $3,105,0302023Assets 2024: $2,496,258Liabilities 2024: $22,695Net Assets 2024: $2,473,5632024

Highlighted filing

2021

Assets$3,157,503
Liabilities$11,677
Net Assets$3,145,826

Operations Trend

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

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2020: $383,672Expenses 2020: $50,576Net Income 2020: $333,0962020Revenue 2021: $311,749Expenses 2021: $63,166Net Income 2021: $248,5832021Revenue 2022: $272,866Expenses 2022: $555,210Net Income 2022: -$282,3442022Revenue 2023: $544,104Expenses 2023: $82,188Net Income 2023: $461,9162023Revenue 2024: $411,053Expenses 2024: $1,037,793Net Income 2024: -$626,7402024

Highlighted filing

2021

Revenue$311,749
Expenses$63,166
Net Income$248,583
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jul 28, 2022
Return Version
2021v4.0
Gross Receipts
$311,749
Mission and Program Overview

Mission

The company is a nonpublic insurance organization providing liability coverage to entities affiliated with or owned directly or indirectly by the members of the company.

The company is a nonpublic insurance organization providing liability coverage.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$2,991,289$3,145,826▲ $154,537
Investments in Publicly Traded Securities$2,699,697$2,685,583▼ $14,114
Savings and Temporary Cash Investments$278,403$446,679▲ $168,276
Total Assets$3,004,655$3,157,503▲ $152,848
Other Assets Total$26,555$25,241▼ $1,314
Liabilities
Other Liabilities$13,366$11,677▼ $1,689
Total Liabilities$13,366$11,677▼ $1,689
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,991,289$3,145,826▲ $154,537
Total Liabilities and Net Assets / Fund Balance$3,004,655$3,157,503▲ $152,848
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$87,189
Other Revenue
$224,560
Change in Net Assets
$248,583

Audited Revenue Reconciliation

Revenue per Audited Statements
$311,749
Total Revenue per Audited Statements
$311,749
Total Revenue per Form 990
$311,749
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$63,166
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management---$43,260
Fees for Services Other---$19,906
Total Functional Expenses$0$0$0$63,166

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$63,166
Total Expenses per Audited Statements$63,166
Total Expenses per Form 990$63,166
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
Unpaid Loss and Lae$11,677
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
No
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, Page 6, Part VI, Line 11B

The governing board reviews form 990 annually.

Form 990, Page 6, Part VI, Line 19

Documents are available to the public for review from the office of the company.

Filing and Contact Details

Filer

Filer Name
Lac Assurance Ltd
EIN
46-4310313
Address
1635 N GREENFIELD ROAD SUITE 127, MESA, AZ 85205

Signing Officer

Name
Frederick H Schneider Iv
Title
Secretary
Phone
3185378387
Signed
2022-07-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Shackelford Iii
Formed
2013
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Shores Tagman Butler & Company Pa
Address
17 S MAGNOLIA AVE, ORLANDO, FL 32801
Preparer
William L Shores
Phone
4078720744
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

OTHER 19,906 0 0

Raw XML Appendix236 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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IRS990/IndependentVotingMemberCnt05
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/SignatureDt02022-07-28
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ReturnHeader/Filer/EIN0464310313
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ReturnHeader/PreparerPersonGrp/PreparationDt02022-10-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0WILLIAM L SHORES
ReturnHeader/ReturnTs02022-10-17T15:17:28-04:00
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ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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