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Nonprofiteer
← DMG INSURANCE COMPANY INC

Form 990 for tax year 2023

Filed by DMG INSURANCE COMPANY INC.

Totals

Total revenue
$5,081,195
Total expenses
$1,678,978
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,288,414
Investment income
$792,781
Other revenue
$0
Total assets, end of year
$29,342,490
Total liabilities, end of year
$13,311,978
Net assets or fund balances, end of year
$16,030,512
Program services expenses (Part IX)
$1,511,195
Management and general expenses
$167,783
Fundraising expenses
$0
Program service expenses (Part III)
$1,511,195

Program services were 90.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • DR KOTE CHUNDU

    CHAIRMAN OF THE BOARD

    Total calculated
    $1,519,428
    From this org
    $0
    From related orgs
    $1,419,602
    Other
    $99,826
    Hours/week
    0.3 + 65 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,088,161 related
    Bonus
    $0 + $325,000 related
    Other
    $0 + $6,441 related
    Deferred
    $0 + $66,000 related
    Nontaxable benefits
    $0 + $33,826 related
    Filer's total
    $0 + $1,519,428 related

  • PHYLLIS BIEDESS

    BOARD MEMBER

    Total calculated
    $16,620
    From this org
    $0
    From related orgs
    $16,620
    Other
    $0
    Hours/week
    0.1 + 0.5 related

  • CRAIG JONES

    PRESIDENT, CEO & TREASURER

    Total calculated
    $360,923
    From this org
    $0
    From related orgs
    $294,887
    Other
    $66,036
    Hours/week
    0.5 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $290,283 related
    Bonus
    $0
    Other
    $0 + $4,604 related
    Deferred
    $0 + $36,281 related
    Nontaxable benefits
    $0 + $29,755 related
    Filer's total
    $0 + $360,923 related

  • DR DANIEL GRIDLEY

    VICE PRESIDENT

    Total calculated
    $760,136
    From this org
    $0
    From related orgs
    $665,428
    Other
    $94,708
    Hours/week
    0.1 + 60 related

    Schedule J breakdown matched by us

    Base
    $0 + $537,766 related
    Bonus
    $0
    Other
    $0 + $127,662 related
    Deferred
    $0 + $39,600 related
    Nontaxable benefits
    $0 + $55,108 related
    Filer's total
    $0 + $760,136 related

  • DENISE ATWOOD

    VICE PRESIDENT

    Total calculated
    $209,909
    From this org
    $0
    From related orgs
    $186,454
    Other
    $23,455
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $184,803 related
    Bonus
    $0
    Other
    $0 + $1,651 related
    Deferred
    $0 + $21,300 related
    Nontaxable benefits
    $0 + $2,155 related
    Filer's total
    $0 + $209,909 related

  • PATRICIA BAYLESS

    SECRETARY

    Total calculated
    $275,483
    From this org
    $0
    From related orgs
    $194,277
    Other
    $81,206
    Hours/week
    0.3 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $182,648 related
    Bonus
    $0
    Other
    $0 + $11,629 related
    Deferred
    $0 + $51,296 related
    Nontaxable benefits
    $0 + $29,910 related
    Filer's total
    $0 + $275,483 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

None.

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

The filer's explanations (Part III)

PART 1, LINE 3:
ALL DIRECTORS ARE PAID BY THE SUPPORTED ORGANIZATION ACCORDING TO THE GUIDELINES OF THE SUPPORTED ORGANIZATION'S COMPENSATION PLAN. NONE OF THE COMPENSATION PAID BY THE SUPPORTED ORGANIZATION IS DIRECTLY RELATED TO THE DUTIES PERFORMED AS DIRECTORS AND OFFICERS OF DMG INSURANCE.

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

No itemized grants to organizations 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.

Provenance

Return type
form_990
Tax year
2023
Filed
9 October 2024
IRS schema version
2023v5.1
Source object
202442839349302169

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

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