Form 990 for tax year 2023

2a · Program service revenue: PREMIUMS EARNED

total $161,833,930 · related or exempt $161,833,930

3 · Investment income

total $3,047,124 · excluded $3,047,124

7a · Gross sales of assets other than inventory

securities $8,078,978

7b · Less cost or other basis and sales expenses

securities $8,080,512

7c · Gain or loss

securities -$1,534

7d · Net gain or loss

total -$1,534 · excluded -$1,534

11d · All other revenue

total $629,751 · excluded $629,751

11e · Other revenue, total

$629,751

5 · Compensation of officers, directors and key employees

total $642,844

7 · Other salaries and wages

total $5,268,348

8 · Pension plan contributions

total $811,733

9 · Other employee benefits

total $17,446

10 · Payroll taxes

total $381,661

11b · Fees: legal

total $175,088

11c · Fees: accounting

total $100,015

11f · Fees: investment management

total $51,129

11g · Fees: other

total $191,537

13 · Office expenses

total $760,118

14 · Information technology

total $2,660,802

16 · Occupancy

total $801,731

17 · Travel

total $58,402

19 · Conferences, conventions and meetings

total $321,702

22 · Depreciation, depletion and amortization

total $116,194

23 · Insurance

total $1,341,070

24a · Other expenses: LOSSES & LAE

total $101,932,587

24b · Other expenses: COMMISSIONS

total $31,028,233

24c · Other expenses: PREMIUM TAX

total $5,844,932

24d · Other expenses: CLAIMS EXPENSE

total $829,202

24e · All other expenses

total $4,819,877

1 · Cash, non-interest-bearing

beginning of year $20,989,407 · end of year $36,841,341

2 · Savings and temporary cash investments

beginning of year $29,371,314 · end of year $21,388,254

4 · Accounts receivable

beginning of year $21,712,814 · end of year $33,927,809

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

$2,614,908

10b · Land, buildings and equipment: accumulated depreciation

$2,605,444

10c · Land, buildings and equipment, net

beginning of year $1,466 · end of year $9,464

11 · Investments: publicly traded securities

beginning of year $66,333,795 · end of year $85,421,287

17 · Accounts payable and accrued expenses

beginning of year $8,127,170 · end of year $10,804,923

25 · Other liabilities

beginning of year $108,195,560 · end of year $138,997,434

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 $22,086,066 · end of year $27,785,798