FIRST FARM MUTUAL INSURANCE COMPANY

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1966

Legal Domicile

Principal Officer

LUKE STUCKWISCH

Phone

8125225448

Tax Period

2024-01-01 to 2024-12-31

FIRST FARM MUTUAL INSURANCE COMPANY, founded in 1966, is a small nonprofit that reported $404K in total revenue in fiscal year 2024. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $596K exceeded revenue, resulting in a 48% operating deficit.

Mission

TO INSURE THE PROPERTY OF THE MEMBERS AGAINST LOSS OR DAMAGE BY FIRE, LIGHTNING OR WIND.

Program Service Accomplishments

Program 1

FIRST FARM MUTUAL INSURANCE COMPANY OPERATES IN FOUR COUNTIES IN SOUTH CENTRAL INDIANA INSURING ITS MEMBERS' PROPERTY, INCLUDING FARM BUILDINGS, FURNITURE, HOMES, MOWERS AND MOBILE HOMES IN RURAL...

FIRST FARM MUTUAL INSURANCE COMPANY OPERATES IN FOUR COUNTIES IN SOUTH CENTRAL INDIANA INSURING ITS MEMBERS' PROPERTY, INCLUDING FARM BUILDINGS, FURNITURE, HOMES, MOWERS AND MOBILE HOMES IN RURAL AREAS. IN 2024, THE COMPANY HAD 341 INSURANCE POLICIES IN FORCE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $379,043

Investment Income $24,780

Other Revenue $-111

TOTAL REVENUE $403,712

Expense Breakdown

Grants Paid $0

Salaries & Benefits $39,685

Fundraising Expenses $0

Other Expenses $408,495

TOTAL EXPENSES $595,793

Year-over-Year Comparison

	2024	2023	Change
Revenue	$403,712	$333,991	+0.2%
Expenses	$595,793	$356,436	+0.7%
Net Income	$-192,081	$-22,445	+7.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$27,165

Total Directors

$37,146

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MILTON STUCKWISCH	PRESIDENT	3.00	Officer Director	$6,038	$0	$6,038
GARY DARLAGE	VICE PRESIDENT	2.00	Officer Director	$2,800	$0	$2,800
SARAH BENTER	SECRETARY	3.00	Officer Director	$6,562	$0	$6,562
JANE STUCKWISCH	TREASURER	3.00	Officer Director	$11,765	$0	$11,765
KEVIN BENTER	DIRECTOR	2.00	Director	$2,902	$0	$2,902
BRIAN STUCKWISCH	DIRECTOR	2.00	Director	$2,800	$0	$2,800
JAMES SCHNEIDER	DIRECTOR	2.00	Director	$4,279	$0	$4,279

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$403,712	$595,793	$684,907	$-192,081
2023	$333,991	$356,436	$877,013	$-22,445
2022	$297,546	$610,647	$899,456	$-313,101
2021	$390,601	$337,756	$1,212,592	$52,845
2020	$364,498	$423,571	$1,159,811	$-59,073
2019	$341,434	$273,879	$1,219,392	$67,555
2018	$442,884	$492,246	$1,151,735	$-49,362