FARMERS MUTUAL FIRE INSURANCE COMP… - Form 990 Financial Data

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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

1909

Legal Domicile

Principal Officer

JULIANNE MARTIN

Phone

8653973161

Tax Period

2023-01-01 to 2023-12-31

FARMERS MUTUAL FIRE INSURANCE COMPANY OF JEFFERSON COUNTY, founded in 1909, is a small nonprofit that reported $402K in total revenue in fiscal year 2023. Expenses of $352K left a modest 12% surplus.

Mission

THE COMPANY WAS FORMED FOR THE PURPOSE OF PROVIDING INSURANCE FOR ITS MEMBERS FOR FIRE, LIGHTNING, EXTENDED COVERAGES, THEFT, PROPERTY AND OTHER COVERAGES PERMITTED FOR A COUNTY MUTUAL INSURANCE COMPANY BY TENNESSEE INSURANCE LAW.

Program Service Accomplishments

Program 1

THE COMPANY IS A NON-PROFIT MUTUAL BENEFIT CORPORATION THAT WRITES FIRE AND EXTENDED COVERAGE AS A MUTUAL FIRE, LIGHTNING, HAIL, EXTENDED COVERAGE, AND WINDSTORM COMPANY AND PROVIDES COVERAGE...

THE COMPANY IS A NON-PROFIT MUTUAL BENEFIT CORPORATION THAT WRITES FIRE AND EXTENDED COVERAGE AS A MUTUAL FIRE, LIGHTNING, HAIL, EXTENDED COVERAGE, AND WINDSTORM COMPANY AND PROVIDES COVERAGE PRIMARILY TO RESIDENTS OF JEFFERSON COUNTY, TENNESSEE AND COUNTIES CONTIGUOUS THERETO IN THE STATE OF TENNESSEE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $293,034

Investment Income $22,552

Other Revenue $86,448

TOTAL REVENUE $402,034

Expense Breakdown

Grants Paid $0

Salaries & Benefits $177,102

Fundraising Expenses $0

Other Expenses $175,164

TOTAL EXPENSES $352,266

Year-over-Year Comparison

	2023	2022	Change
Revenue	$402,034	N/A	N/A
Expenses	$352,266	N/A	N/A
Net Income	$49,768	N/A	N/A

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

$138,577

Total Directors

$143,377

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TEENA HAMMER	PRESIDENT	30.00	Officer Director	$24,883	$0	$39,859
JULIANNE MARTIN	SECRETARY/TREASURER	40.00	Officer Director	$49,589	$0	$49,589
SONYA WEST	VICE-PRESIDENT	10.00	Officer Director	$1,326	$0	$49,129
MARK SMELCER	DIRECTOR	1.00	Director	$1,200	$0	$1,200
ANGIE DONAHOO	DIRECTOR	1.00	Director	$1,200	$0	$1,200
SUSAN GASS	DIRECTOR	1.00	Director	$1,200	$0	$1,200
DUSTIN SMELCER	DIRECTOR	1.00	Director	$1,200	$0	$1,200

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	$402,034	$352,266	$1,324,939	$49,768

FARMERS MUTUAL FIRE INSURANCE COMPANY OF JEFFERSON COUNTY