Civic Intelligence

Lac Assurance Ltd

990 • Fiscal year 2023 • EIN 46-4310313

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 12, 2024

2003 Tower DriveMonroe, LA 71201

(318) 537-8387

Siviq Scores

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

Liabilities / Assets

66th percentile

0.11x

Higher debt load relative to assets than 66% of similar nonprofits.

2023 filings • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

87th percentile

0.70x

Higher debt load relative to revenue than 87% of similar nonprofits.

2023 filings • $1M-$5M nonprofits • Source year 2023

Net Margin

95th percentile

85%

Higher net margin than 95% of similar nonprofits.

2023 filings • $1M-$5M nonprofits • Source year 2023

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.

2023 filings • $1M-$5M nonprofits • Source year 2023

Asset Growth

79th percentile

18%

Faster asset growth than 79% of similar nonprofits.

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

Revenue Growth

89th percentile

99%

Faster revenue growth than 89% of similar nonprofits.

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

Assets

Up

$3,487,379

Up $526,593 (+18%) from 2022

Net Assets

Up

$3,105,030

Up $506,234 (+19%) from 2022

Liabilities

Up

$382,349

Up $20,359 (+5.6%) from 2022

Revenue

Up

$544,104

Up $271,238 (+99%) from 2022

Expenses

Down

$82,188

Down $473,022 (-85%) from 2022

Net Income

Up

$461,916

Up $744,260 (+264%) from 2022

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

2023

Assets$3,487,379
Liabilities$382,349
Net Assets$3,105,030

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

2023

Revenue$544,104
Expenses$82,188
Net Income$461,916
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 12, 2024
Return Version
2023v5.0
Gross Receipts
$544,104
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$2,598,796$3,105,030▲ $506,234
Investments in Publicly Traded Securities$2,640,640$2,851,221▲ $210,581
Savings and Temporary Cash Investments$292,524$606,576▲ $314,052
Total Assets$2,960,786$3,487,379▲ $526,593
Other Assets Total$27,622$29,582▲ $1,960
Liabilities
Other Liabilities$360,964$371,482▲ $10,518
Accounts Payable and Accrued Expenses$1,026$10,867▲ $9,841
Total Liabilities$361,990$382,349▲ $20,359
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,598,796$3,105,030▲ $506,234
Total Liabilities and Net Assets / Fund Balance$2,960,786$3,487,379▲ $526,593
Compensation and Service Providers

Board Members and Trustees

NameTitle
John Shackelford IiiPresident
Ted SchneiderSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$102,578
Other Revenue
$441,526
Change in Net Assets
$461,916

Audited Revenue Reconciliation

Revenue per Audited Statements
$544,104
Total Revenue per Audited Statements
$544,104
Total Revenue per Form 990
$544,104
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$82,188
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---$48,550
Fees for Services Other---$33,638
Total Functional Expenses$0$0$0$82,188

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$82,188
Total Expenses per Audited Statements$82,188
Total Expenses per Form 990$82,188
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$371,482
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
2003 TOWER DRIVE, MONROE, LA 71201

Signing Officer

Name
Ted Schneider
Title
Secretary
Phone
3185378387
Signed
2024-11-12
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 33,638 0 0

Raw XML Appendix240 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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ReturnHeader/BuildTS02024-10-15 13:58:12Z
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