NEW MUNICH MUTUAL INSURANCE CO

EIN: 410852310

SAUK CENTRE, MN

Total Revenue
$594,623
Total Expenses
$493,608
Total Assets
$1,685,900
Net Assets
$1,403,185
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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
1927
Legal Domicile
MN
Principal Officer
VICTOR UPHOFF
Phone
3203523300
Tax Period
2023-01-01 to 2023-12-31

NEW MUNICH MUTUAL INSURANCE CO, founded in 1927, is a small nonprofit that reported $595K in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum. The organization ran a surplus of $101K, a strong 17% operating margin.

Mission

THE ORGANIZATON PROVIDES PROPERTY CASUALTY INSURANCE COVERAGE FOR FARMERS AND HOMEOWNERS IN RURAL MINNESOTA UNDER IRC 501(C)(15) AND MINNESOTA STATUTE 67A

Program Service Accomplishments

Program 1

THE ORGANIZATION PROVIDES PROPERTY CASUALTY INSURANCE COVERAGE FOR FARMERS AND HOMEOWNERS IN RURAL MINNESOTA UNDER IRC 501(C)(15) AND MINNESOTA STATUTE 67A.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $566,098
Investment Income $26,105
Other Revenue $2,420
TOTAL REVENUE $594,623

Expense Breakdown

Grants Paid $0
Salaries & Benefits $74,531
Fundraising Expenses $0
Other Expenses $276,216
TOTAL EXPENSES $493,608

Year-over-Year Comparison

2023 2022 Change
Revenue $594,623 $481,086 +0.2%
Expenses $493,608 $478,261 +0.0%
Net Income $101,015 $2,825 +34.8%
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

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Governance

Voting Members
6
Independent Members
6
Employees
5
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
6
$2,000
Total Directors
6
$2,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
VICTOR UPHOFF PRESIDENT 2.00
Officer Director
$1,200 $0 $1,200
DAVID EHLERT TREASURER/SE 2.00
Officer Director
$800 $0 $800
TIMOTHY MEYERS VICE-PRESIDE 2.00
Officer Director
$0 $0 $0
DANIEL SCHULTZETENBERG DIRECTOR 2.00
Officer Director
$0 $0 $0
STEVE WIECHMAN DIRECTOR 2.00
Officer Director
$0 $0 $0
MIKE ZIERDEN DIRECTOR 2.00
Officer Director
$0 $0 $0
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
2024 No data No data No data No data
2023 $594,623 $493,608 $1,685,900 $101,015
2022 $481,086 $478,261 $1,517,283 $2,825
2021 $436,526 $408,129 $1,558,442 $28,397
2020 $396,303 $435,950 $1,442,491 $-39,647
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