Form 990 for tax year 2024

2a · Program service revenue: PREMIUMS EARNED

total $225,856,729 · related or exempt $225,856,729

3 · Investment income

total $6,916,921 · excluded $6,916,921

7a · Gross sales of assets other than inventory

securities $23,892,116

7b · Less cost or other basis and sales expenses

securities $24,027,575

7c · Gain or loss

securities -$135,459

7d · Net gain or loss

total -$135,459 · excluded -$135,459

11d · All other revenue

total $134,272 · excluded $134,272

11e · Other revenue, total

$134,272

5 · Compensation of officers, directors and key employees

total $1,134,447

7 · Other salaries and wages

total $5,749,342

8 · Pension plan contributions

total $966,975

9 · Other employee benefits

total $1,334,144

10 · Payroll taxes

total $448,293

11b · Fees: legal

total $278,617

11c · Fees: accounting

total $104,151

11f · Fees: investment management

total $70,937

11g · Fees: other

total $450,410

13 · Office expenses

total $1,371,819

14 · Information technology

total $2,974,374

16 · Occupancy

total $787,371

17 · Travel

total $69,984

19 · Conferences, conventions and meetings

total $308,777

22 · Depreciation, depletion and amortization

total $110,570

23 · Insurance

total $200,478

24a · Other expenses: LOSSES & LAE

total $159,949,916

24b · Other expenses: COMMISSIONS

total $41,661,914

24c · Other expenses: PREMIUM TAX

total $7,876,746

24d · Other expenses: CLAIMS EXPENSE

total $1,654,772

24e · All other expenses

total $6,610,176

1 · Cash, non-interest-bearing

beginning of year $36,841,341 · end of year $28,065,295

2 · Savings and temporary cash investments

beginning of year $21,388,254 · end of year $15,260,440

4 · Accounts receivable

beginning of year $33,927,809 · end of year $46,826,579

10a · Land, buildings and equipment: cost or other basis

$2,651,009

10b · Land, buildings and equipment: accumulated depreciation

$2,615,804

10c · Land, buildings and equipment, net

beginning of year $9,464 · end of year $35,205

11 · Investments: publicly traded securities

beginning of year $85,421,287 · end of year $136,306,264

17 · Accounts payable and accrued expenses

beginning of year $10,804,923 · end of year $21,470,971

25 · Other liabilities

beginning of year $138,997,434 · end of year $179,114,398

29 · Capital stock, trust principal or current funds

beginning of year $0 · end of year $0

30 · Paid-in or capital surplus, or land, building or equipment fund

beginning of year $0 · end of year $0

31 · Retained earnings, endowment or other funds

beginning of year $27,785,798 · end of year $25,908,414