Skip to content
Nonprofiteer
← NAMIC MUTUAL INSURANCE FOUNDATION

Form 990 for tax year 2023

Filed by NAMIC MUTUAL INSURANCE FOUNDATION.

Totals

Total revenue
$131,399
Total expenses
$166,272
Contributions and grants received
$116,399
Grants paid
$158,500
Program service revenue
$0
Investment income
$0
Other revenue
$15,000
Total assets, end of year
$462,163
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$462,163
Program services expenses (Part IX)
$158,500
Management and general expenses
$7,772
Fundraising expenses
$0
Program service expenses (Part III)
$158,500

Program services were 95.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $1,038

  • 1f · All other contributions, gifts and grants

    $115,361

  • 11a · Other revenue: OTHER REVENUE

    total $15,000 · related or exempt $15,000

  • 11e · Other revenue, total

    $15,000

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $158,500 · program services $158,500

  • 11c · Fees: accounting

    total $3,600 · management and general $3,600

  • 13 · Office expenses

    total $3,500 · management and general $3,500

  • 23 · Insurance

    total $412 · management and general $412

  • 24a · Other expenses: DUES

    total $260 · management and general $260

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $457,917 · end of year $422,859

  • 4 · Accounts receivable

    beginning of year $38,710 · end of year $37,720

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,447 · end of year $1,584

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,038

  • 27 · Net assets without donor restrictions

    beginning of year $199,928 · end of year $169,411

  • 28 · Net assets with donor restrictions

    beginning of year $297,108 · end of year $292,752

Mission and programs · 2023

Mission

THE NAMIC MUTUAL INSURANCE FOUNDATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES WITH THE PRIMARY FOCUS TO HELP FOSTER THE CONTINUED GROWTH OF A STRONG AND INVIGORATED MUTUAL INSURANCE INDUSTRY.

Activities or mission (Part I)

THE NAMIC MUTUAL INSURANCE FOUNDATION, INC. IS ORGANIZED FOR CHARITABLE AND EDUCATIONAL PURPOSES. THE PRIMARY PURPOSE IS TO ADVANCE PUBLIC AWARENESS OF MUTUAL INSURANCE CONCEPTS AND THE INSURANCE INDUSTRY IN GENERAL; AND TO MAKE GRANTS, GIFTS OR CONTRIBUTIONS IN MONEY OR OTHER PROPERTY TO SCHOOLS, COLLEGES, UNIVERSITIES OR OTHER INSTITUTIONS OF LEARNING FOR FINANCIAL ASSISTANCE TO WORTHY STUDENTS TRAINING IN THE RISK MANAGEMENT AND INSURANCE INDUSTRY.

  • ADVANCE PUBLIC AWARENESS OF MUTUAL INSURANCE CONCEPTS AND THE INSURANCE INDUSTRY IN GENERAL; AND TO MAKE GRANTS, GIFTS OR CONTRIBUTIONS IN MONEY OR OTHER PROPERTY TO SCHOOLS, COLLEGES, UNIVERSITIES OR OTHER INSTITUTIONS OF LEARNING FOR FINANCIAL ASSISTANCE TO WORTHY STUDENTS ACQUIRING TRAINING IN THE RISK MANAGEMENT AND INSURANCE INDUSTRY.

    Expenses $158,500 · Grants $158,500

As filed on the 2023 return.

Listed in Part VII

  • SARAH SCHNETTLER

    EXECUTIVE DI

    Total calculated
    $380,556
    From this org
    $0
    From related orgs
    $339,325
    Other
    $41,231
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $271,407 related
    Bonus
    not reported + $67,519 related
    Other
    not reported + $399 related
    Deferred
    not reported + $18,055 related
    Nontaxable benefits
    not reported + $23,176 related
    Filer's total
    not reported + $380,556 related

  • STEVEN C SLIVER

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JACOB BLACK

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1.5 related

  • ELIZABETH HECK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.5 related

  • MARK RUSSELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.5 related

  • MARK WALZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.5 related

  • PAUL STUEVEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.5 related

  • TRICIA MICKLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.5 related

  • NEIL ALLDREDGE

    DIRECTOR

    Total calculated
    $1,204,382
    From this org
    $0
    From related orgs
    $1,144,657
    Other
    $59,725
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $835,178 related
    Bonus
    not reported + $300,348 related
    Other
    not reported + $9,131 related
    Deferred
    not reported + $27,840 related
    Nontaxable benefits
    not reported + $31,885 related
    Filer's total
    not reported + $1,204,382 related

  • STEVEN LINKOUS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.5 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2023
Filed
15 January 2025
IRS schema version
2023v6.0
Source object
202540159349302579

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.