AMERICAN MUTUAL SHARE INSURANCE CORP & SUBSIDIARIES: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- AMERICAN MUTUAL SHARE INSURANCE CORP & SUBSIDIARIES (EIN 23-7376679)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-10-31
- IRS object ID
- 202443059349302574
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-10-31T15:30:30-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 861065772 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DELOITTE TAX LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 50 W FIFTH STREET SUITE 200 | AddressLine1Txt |
| City | CINCINNATI | CityNm |
| State Abbreviation | OH | StateAbbreviationCd |
| ZIP | 45202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 237376679 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | AMERICAN MUTUAL SHARE INSURANCE | BusinessNameLine1Txt |
| Business Name Line2 | CORPORATION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | AMER | BusinessNameControlTxt |
| Phone | 6147641900 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5656 FRANTZ ROAD | AddressLine1Txt |
| City | DUBLIN | CityNm |
| State Abbreviation | OH | StateAbbreviationCd |
| ZIP | 430172599 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CURTIS L ROBSON | PersonNm |
| Person Title | CFO, SECRETARY & TREASURER | PersonTitleTxt |
| Phone | 6149737712 | PhoneNum |
| Signature | 2024-10-31 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | DEVIN R OMO-OSAGIE | PreparerPersonNm |
| PTIN | P02269589 | PTIN |
| Phone | 5137847100 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | AMERICAN SHARE INSURANCE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | THERESA M MASON | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5656 FRANTZ ROAD | AddressLine1Txt |
| City | DUBLIN | CityNm |
| State Abbreviation | OH | StateAbbreviationCd |
| ZIP | 430172599 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $33,251,571 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.AMERICANSHARE.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1974 | FormationYr |
| Legal Domicile State | OH | LegalDomicileStateCd |
| Activity Or Mission | PROVIDE PRIMARY AND EXCESS SHARE (DEPOSIT) INSURANCE EXCLUSIVELY TO CREDIT UNIONS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 31 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $3,312,137 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $4,188,804 | PYInvestmentIncomeAmt |
| CY Investment Income | $6,249,546 | CYInvestmentIncomeAmt |
| PY Other Revenue | $10,184,924 | PYOtherRevenueAmt |
| CY Other Revenue | $3,347,592 | CYOtherRevenueAmt |
| PY Total Revenue | $14,373,728 | PYTotalRevenueAmt |
| CY Total Revenue | $9,597,138 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $4,724,830 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $6,431,945 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $5,531,302 | PYOtherExpensesAmt |
| CY Other Expenses | $5,296,569 | CYOtherExpensesAmt |
| PY Total Expenses | $10,256,132 | PYTotalExpensesAmt |
| CY Total Expenses | $11,728,514 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $4,117,596 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$2,131,376 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $346,716,309 | TotalAssetsBOYAmt |
| Total Assets EOY | $357,462,134 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $24,033,446 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $32,672,127 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $322,682,863 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $324,790,007 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | TO PROVIDE PRIMARY AND EXCESS SHARE (DEPOSIT) INSURANCE TO CREDIT UNIONS IN ACCORDANCE WITH ITS STATUTORY AUTHORITY UNDER OHIO REVISED CODE SECTION 1761, AS A MEMBER-OWNED, MUTUALLY ORGANIZED SHARE GUARANTY CORPORATION, AND THE NATION'S LARGEST NON-FEDERAL INSURER OF CREDIT UNION DEPOSITS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | AMERICAN MUTUAL SHARE INSURANCE CORPORATION (ASI) PROVIDES PRIMARY AND EXCESS SHARE (DEPOSIT) INSURANCE TO CREDIT UNIONS UNDER OHIO REVISED CODE SECTION 1761, AS A MEMBER-OWNED, MUTUALLY ORGANIZED SHARE GUARANTY CORPORATION, AND THE NATION'S LARGEST NON-FEDERAL INSURER OF CONSUMER DEPOSITS. APPROXIMATELY 100 MEMBER CREDIT UNIONS IN 10 STATES WERE SERVED BY ASI IN 2023 AND THE AGGREGATE NUMBER OF INDIVIDUAL MEMBERS IN THOSE CREDIT UNIONS INSURED BY ASI IS ESTIMATED TO BE APPROXIMATELY 1.3 MILLION. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | Yes (1) | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 40 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 31 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JEFFREY P SIEFKER CO AMERICAN SHARE INSURANCE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6147641900 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5656 FRANTZ ROAD | AddressLine1Txt |
| City | DUBLIN | CityNm |
| State Abbreviation | OH | StateAbbreviationCd |
| ZIP | 430172599 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (20 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|---|
| CHRISTINE K HALEY | ||||||||||
| CHAIR (BEGIN 04/23)/DIRECTOR | 1.00 | 0.25 | Yes (X) | Yes (X) | $24,000 | $0 | $0 | |||
| JAMES C MILES | ||||||||||
| VICE CHAIR (BEGIN 04/23)/DIRECTOR | 1.00 | 0.25 | Yes (X) | Yes (X) | $23,500 | $0 | $0 | |||
| BRAD SWARTZENTUBER | ||||||||||
| DIRECTOR | 1.00 | 0.25 | Yes (X) | $21,000 | $0 | $0 | ||||
| ELIZABETH A CALDERONE | ||||||||||
| CHAIR (END 04/23)/DIRECTOR | 1.00 | 0.00 | Yes (X) | Yes (X) | $21,000 | $0 | $0 | |||
| SCOTT ARKILLS | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $20,000 | $0 | $0 | ||||
| ROSEMARIE BARTOLOMUCCI | ||||||||||
| DIRECTOR (BEGIN 4/23) | 1.00 | 0.00 | Yes (X) | $17,500 | $0 | $0 | ||||
| KEVIN W WILLOUR | ||||||||||
| DIRECTOR (END 11/23) | 1.00 | 0.00 | Yes (X) | $17,000 | $0 | $0 | ||||
| JANICE L THOMAS | ||||||||||
| DIRECTOR (END 4/23) | 1.00 | 0.00 | Yes (X) | $15,500 | $0 | $0 | ||||
| DUSTIN CUTRISS | ||||||||||
| DIRECTOR (BEGIN 12/23) | 1.00 | 0.00 | Yes (X) | $1,500 | $0 | $0 | ||||
| THERESA M MASON | ||||||||||
| PRESIDENT/CEO | 45.00 | 10.00 | Yes (X) | $500,210 | $0 | $86,680 | ||||
| J PAUL MCCAFFREY | ||||||||||
| CFO/SECRETARY/TREASURER | 45.00 | 10.00 | Yes (X) | $284,697 | $0 | $82,580 | ||||
| KURT R LOOSE | ||||||||||
| EVP, COO | 45.00 | 10.00 | $396,308 | $0 | $72,301 | Yes (X) | ||||
| KURT G KLUTH | ||||||||||
| VP INFORMATION TECHNOLOGY | 45.00 | 10.00 | $252,937 | $0 | $86,667 | Yes (X) | ||||
| DAVID W KETTLEHAKE | ||||||||||
| VP SALES & MARKETING | 45.00 | 10.00 | $210,715 | $0 | $54,111 | Yes (X) | ||||
| MICHAEL D BASWELL | ||||||||||
| SALES MANAGER | 45.00 | 10.00 | $335,897 | $0 | $31,127 | Yes (X) | ||||
| DON E GENSLER | ||||||||||
| SALES MANAGER | 45.00 | 10.00 | $288,292 | $0 | $19,732 | Yes (X) | ||||
| SHAWN KESSINGER | ||||||||||
| CONTROLLER | 45.00 | 10.00 | $172,403 | $0 | $26,890 | Yes (X) | ||||
| DAN ZUBER | ||||||||||
| SENIOR FINANCE MANAGER | 45.00 | 10.00 | $158,067 | $0 | $30,599 | Yes (X) | ||||
| CHAD E WAITS | ||||||||||
| AUDIT & EXAMINATION MANAGER | 45.00 | 10.00 | $147,034 | $0 | $36,265 | Yes (X) | ||||
| DENNIS R ADAMS | ||||||||||
| FORMER PRESIDENT/CEO | 0.00 | 0.00 | $895,000 | $0 | $0 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,802,560 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $526,952 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 16 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (3 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| DELOITTE & TOUCHE LLP | |||||
| PO BOX 267 | DALLAS | TX | 752844708 | AUDIT AND TAX SERVICES | $182,800 |
| WALTER - HAVERFIELD LLP | |||||
| PO BOX 75568 | CLEVELAND | OH | 430172599 | OUTSIDE LEGAL COUNSEL | $172,412 |
| CROWE LLP | |||||
| PO BOX 71570 | CHICAGO | IL | 606941570 | INTERNAL AUDIT OUTSOURCING | $147,698 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 3 | CntrctRcvdGreaterThan100KCnt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,227,396 | TotalRevenueColumnAmt |
| Exclusion | $6,227,396 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $23,676,583 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $23,649,916 | SecuritiesAmt |
| Other | $4,517 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $26,667 | SecuritiesAmt |
| Other | -$4,517 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $22,150 | TotalRevenueColumnAmt |
| Exclusion | $22,150 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|
| MANAGEMENT FEES | 524298 | $2,778,000 | $2,778,000 |
| COMMISSION GROSS UP AN | 524298 | $288,280 | $288,280 |
| EXCESS INS. PREMIUMS | 524298 | $245,857 | $245,857 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $35,455 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $35,455 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $3,347,592 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $9,597,138 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $35,455 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $3,312,137 | UnrelatedBusinessRevenueAmt |
| Exclusion | $6,249,546 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,188,206 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $895,000 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,512,797 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $292,655 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $238,731 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $304,556 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $240,227 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $430,411 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $558,884 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $177,125 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $533,251 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $239,852 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $122,848 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $244,661 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $64,851 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $147,392 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $206,993 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| INS. LOSSES INCURRED | $2,000,000 |
| PREM. TAX/STATE FILING | $44,264 |
| DUES & SUBSCRIPTIONS | $21,862 |
| PRINTING | $668 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $263,280 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,728,514 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $31,682,926 | BOYAmt |
| EOY | $24,535,775 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,420,890 | BOYAmt |
| EOY | $2,902,200 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $219,482 | BOYAmt |
| EOY | $220,001 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $2,360,489 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $1,414,192 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,061,198 | BOYAmt |
| EOY | $946,297 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $279,251,045 | BOYAmt |
| EOY | $295,964,669 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $922,200 | BOYAmt |
| EOY | $297,700 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,793,637 | BOYAmt |
| EOY | $26,366,983 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,364,931 | BOYAmt |
| EOY | $6,228,509 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $346,716,309 | BOYAmt |
| EOY | $357,462,134 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,627,532 | BOYAmt |
| EOY | $2,779,530 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,405,914 | BOYAmt |
| EOY | $29,892,597 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,033,446 | BOYAmt |
| EOY | $32,672,127 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $257,294,361 | BOYAmt |
| EOY | $256,283,273 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $65,388,502 | BOYAmt |
| EOY | $68,506,734 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $322,682,863 | BOYAmt |
| EOY | $324,790,007 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $346,716,309 | BOYAmt |
| EOY | $357,462,134 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$2,131,376 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $5,249,608 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$1,011,088 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consol And Sep Basis Fincl Stmt | Yes (X) | ConsolAndSepBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Political Expenditures | $11,000 | PoliticalExpendituresAmt |
| Volunteer Hours | 0 | VolunteerHoursCnt |
| Expended527 Activities | $10,000 | Expended527ActivitiesAmt |
| Internal Funds Contributed | $0 | InternalFundsContributedAmt |
| Total Exempt Function Expend | $10,000 | TotalExemptFunctionExpendAmt |
| Form1120 POL Filed | Yes (1) | Form1120POLFiledInd |
Section527 Political Org Section527PoliticalOrgGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Paid Internal FundsPaidInternalFundsAmt |
|---|---|---|---|---|---|
| CALIFORNIA CREDIT UNION LEAGUE PAC | |||||
| 2855 E GUASTI ROAD NO 202 | ONTARIO | CA | 91761 | 940357265 | $5,000 |
| NEVADA CREDIT UNION LEAGUE PAC | |||||
| 2855 E GUASTI ROAD NO 202 | ONTARIO | CA | 91761 | 880270264 | $5,000 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I-A, LINE 1: | FormAndLineReferenceDesc |
| Explanation | AMERICAN MUTUAL SHARE INSURANCE CORPORATION ENGAGES IN POLITICAL CAMPAIGN ACTIVITIES AND LOBBYING THAT IS LIMITED, IS NOT A PRIMARY ACTIVITY, AND IS RELATED TO ITS EXEMPT PURPOSE. IN 2023, THE CORPORATION PARTICIPATED INDIRECTLY IN CAMPAIGN ACTIVITIES THROUGH CONTRIBUTIONS TO STATE LEVEL POLITICAL CAUSES. | ExplanationTxt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $127,473 | OtherCostOrOtherBasisAmt |
| Book Value | $127,473 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,585,461 | OtherCostOrOtherBasisAmt |
| Depreciation | $884,608 | DepreciationAmt |
| Book Value | $700,853 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $205,501 | OtherCostOrOtherBasisAmt |
| Depreciation | $121,664 | DepreciationAmt |
| Book Value | $83,837 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $383,780 | OtherCostOrOtherBasisAmt |
| Depreciation | $351,561 | DepreciationAmt |
| Book Value | $32,219 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $58,274 | OtherCostOrOtherBasisAmt |
| Depreciation | $56,359 | DepreciationAmt |
| Book Value | $1,915 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $946,297 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INVESTMENT IN SUBSIDIARY | Desc |
| Book Value | $26,366,983 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $26,366,983 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| LOSS RESERVES | $23,365,914 |
| LOSS ADJUSTMENT EXPENSES PAYABLE | $40,000 |
| PRIMARY CAP DEPOSIT & ACCRETION REFUNDS | $6,486,683 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $29,892,597 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $9,049,692 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $9,049,692 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $205,881 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | $341,565 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $547,446 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $9,597,138 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $11,181,068 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $11,181,068 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $205,881 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $341,565 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $547,446 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $11,728,514 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | AS A TAX-EXEMPT ORGANIZATION, AMERICAN MUTUAL SHARE INSURANCE CORPORATION IS SUBJECT TO INCOME TAX ON ACTIVITIES THAT GENERATE NET INCOME UNRELATED TO ITS TAX-EXEMPT PURPOSE OF PROVIDING PRIMARY SHARE INSURANCE TO ITS MEMBERS. AT DECEMBER 31, 2023 AND 2022, AMERICAN MUTUAL SHARE INSURANCE CORPORATION HAS UNRELATED BUSINESS INCOME TAX (UBIT) LOSS CARRYFORWARDS OF APPROXIMATELY $18,576,452 AND $17,978,925, RESPECTIVELY, THAT ARE AVAILABLE TO OFFSET FUTURE UNRELATED BUSINESS INCOME. NO TAX BENEFIT HAS BEEN RECOGNIZED FOR ANY OF THESE UBIT LOSS CARRYFORWARDS SINCE MANAGEMENT HAS DETERMINED THAT NONE OF THE TAX BENEFITS WILL BE REALIZED. AS OF DECEMBER 31, 2023, THE COMPANY IS NOT AWARE OF, AND HAS NO ACCRUALS FOR, ANY UNCERTAIN TAX POSITIONS. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | BUILDING DEPRECIATION EXPENSE 78,285. ESI COMMISSION GROSS-UP 263,280. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | BUILDING DEPRECIATION EXPENSE 78,285. ESI COMMISSION GROSS-UP 263,280. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (11 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DENNIS R ADAMS | ||||||||||||||
| FORMER PRESIDENT/CEO | $0 | $0 | $0 | $0 | $895,000 | $0 | $0 | $0 | $0 | $0 | $895,000 | $0 | $0 | $0 |
| THERESA M MASON | ||||||||||||||
| PRESIDENT/CEO | $412,937 | $0 | $67,800 | $0 | $19,473 | $0 | $79,496 | $0 | $7,184 | $0 | $586,890 | $0 | $0 | $0 |
| KURT R LOOSE | ||||||||||||||
| EVP, COO | $300,315 | $0 | $25,000 | $0 | $70,993 | $0 | $65,117 | $0 | $7,184 | $0 | $468,609 | $0 | $47,031 | $0 |
| J PAUL MCCAFFREY | ||||||||||||||
| CFO/SECRETARY/TREASURER | $281,096 | $0 | $0 | $0 | $3,601 | $0 | $57,162 | $0 | $25,418 | $0 | $367,277 | $0 | $0 | $0 |
| MICHAEL D BASWELL | ||||||||||||||
| SALES MANAGER | $143,787 | $0 | $188,420 | $0 | $3,690 | $0 | $22,824 | $0 | $8,303 | $0 | $367,024 | $0 | $0 | $0 |
| KURT G KLUTH | ||||||||||||||
| VP INFORMATION TECHNOLOGY | $228,167 | $0 | $0 | $0 | $24,770 | $0 | $61,249 | $0 | $25,418 | $0 | $339,604 | $0 | $0 | $0 |
| DON E GENSLER | ||||||||||||||
| SALES MANAGER | $128,101 | $0 | $155,200 | $0 | $4,991 | $0 | $19,732 | $0 | $0 | $0 | $308,024 | $0 | $0 | $0 |
| DAVID W KETTLEHAKE | ||||||||||||||
| VP SALES & MARKETING | $208,339 | $0 | $0 | $0 | $2,376 | $0 | $38,311 | $0 | $15,800 | $0 | $264,826 | $0 | $0 | $0 |
| SHAWN KESSINGER | ||||||||||||||
| CONTROLLER | $170,855 | $0 | $0 | $0 | $1,548 | $0 | $11,839 | $0 | $15,051 | $0 | $199,293 | $0 | $0 | $0 |
| DAN ZUBER | ||||||||||||||
| SENIOR FINANCE MANAGER | $156,961 | $0 | $0 | $0 | $1,106 | $0 | $8,328 | $0 | $22,271 | $0 | $188,666 | $0 | $0 | $0 |
| CHAD E WAITS | ||||||||||||||
| AUDIT & EXAMINATION MANAGER | $133,111 | $0 | $0 | $0 | $13,923 | $0 | $10,847 | $0 | $25,418 | $0 | $183,299 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | HEALTH CLUB DUES - HEALTH CLUB DUES ARE REIMBURSABLE UNDER THE COMPANY'S PERSONNEL POLICY TO ALL EMPLOYEES FOR 50% OF THE DUES UP TO A MAXIMUM MONTHLY REIMBURSEMENT OF $50 ($600 PER YEAR MAX). TWO OFFICERS, ONE KEY EMPLOYEE AND TWO HIGHEST COMPENSATED EMPLOYEES RECEIVED THIS BENEFIT IN 2023. THESE REIMBURSEMENTS ARE REPORTABLE AS TAXABLE COMPENSATION TO EMPLOYEES ON THEIR FORM W-2. |
| PART I, LINE 4A: | A SEVERANCE PAYMENT WAS MADE DURING THE YEAR TO THE FOLLOWING LISTED PERSON IN PART VII: - DENNIS R. ADAMS: $895,000 |
| PART I, LINE 4B: | ELIGIBLE EMPLOYEES PARTICIPATE IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN UNDER CODE SECTION 457(F). ANY AMOUNTS ULTIMATELY PAID UNDER THE PLAN TO AN ELIGIBLE EMPLOYEE IS REPORTED AS COMPENSATION ON FORM 990, SCHEDULE J, PART II, COLUMN B(III) IN THE YEAR PAID. NONQUALIFIED PLAN PAYMENTS WERE MADE DURING THE YEAR TO THE FOLLOWING LISTED PERSON IN PART VII: - KURT R. LOOSE: $47,031 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE COMPANY HAS ONLY ONE CLASS OF MEMBERSHIP, THAT OF A "PARTICIPATING CREDIT UNION" AS DEFINED UNDER BOTH THE COMPANY'S CODE OF REGULATIONS AND ITS GOVERNING STATUTE (OHIO REVISED CODE SECTION 1761.01(J)). A PARTICIPATING CREDIT UNION REMAINS IN GOOD STANDING (INCLUDING ITS VOTING RIGHTS DESCRIBED BELOW) AS LONG AS THE PARTICIPATING CREDIT UNION HAS PAID IN FULL ITS CAPITAL CONTRIBUTION OR ANY APPLICABLE PREMIUMS, FEES OR ASSESSMENTS (ORC SECTION 1761.07(F)). EACH PARTICIPATING CREDIT UNION HAS ONE VOTE (ORC SECTION 1761.07(G)) AND EACH PARTICIPATING CREDIT UNION HAS THE SAME PRIVILEGES, BENEFITS AND OBLIGATION OF PARTICIPATION AS ALL OTHER PARTICIPATING CREDIT UNIONS OF THE COMPANY (ORC SECTION 1761.07(E)). UNDER THE COMPANY'S CODE OF REGULATIONS, AN ANNUAL MEETING OF PARTICIPATING CREDIT UNIONS IS HELD WITHIN 120 DAYS OF YEAR END AT WHICH MEETING EACH PARTICIPATING CREDIT UNION MAY CAST ONE VOTE IN PERSON OR BY PROXY BALLOT, VOTING ON DIRECTORS OF THE COMPANY. DIRECTORS ARE ELECTED FOR THREE-YEAR TERMS AND THE TERMS ARE STAGGERED SO THAT APPROXIMATELY ONE-THIRD OF THE BOARD SEATS ARE UP FOR ELECTION EACH YEAR. THE NUMBER OF DIRECTORS SHALL BE SET AT NO LESS THAN FIVE (5) AND NOT MORE THAN ELEVEN (11) UNDER THE CODE OF REGULATIONS. PARTICIPATING CREDIT UNIONS MAY ALSO HAVE RIGHTS TOWARDS ANY NET ASSETS OF THE COMPANY IN THE EVENT OF A DISSOLUTION OF THE COMPANY, BUT ONLY AFTER SETTLING ANY RECORDED, CONTINGENT AND CONTRACTUAL LIABILITIES, AND ALL COSTS OF DISSOLUTION (ORC SECTION 1761.10(I). |
| FORM 990, PART VI, SECTION A, LINE 7A | SEE FORM 990, PART VI, SECTION A, LINE 6 DESCRIPTION IN SCHEDULE O ABOVE. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 WILL BE PROVIDED TO THE COMPANY'S BOARD OF DIRECTORS AS PART OF THEIR ADVANCE MANAGEMENT PACKAGE FOR THE BOARD MEETING THAT IS SCHEDULED FOR OCTOBER 2, 2024 PRIOR TO FILING THE FORM AND WILL BE REVIEWED IN THE PRESENCE OF THE CEO AND CFO. |
| FORM 990, PART VI, SECTION B, LINE 12C | AS PART OF ITS BOARD POLICY AND PERSONNEL POLICY, THE COMPANY ANNUALLY REQUIRES EACH BOARD MEMBER, MEMBER OF MANAGEMENT AND ALL OTHER COMPANY EMPLOYEES TO COMPLETE AND SIGN ITS "ANNUAL ACKNOWLEDGEMENT OF BUSINESS CONDUCT AND ETHICS AND DISCLOSURE OF POTENTIAL CONFLICTS OF INTEREST" FORM. THE COMPLETED FORMS ARE RETAINED BY THE COMPANY AND A SUMMARY OF ALL THE RESPONSES IS SUBMITTED TO THE COMPANY'S BOARD FOR THEIR REVIEW AND CONSIDERATION, WHICH WAS LAST DONE IN APRIL 2024. THE POLICIES REFERRED TO ABOVE AND THE FORM ITSELF ALSO REQUIRE THAT THE BOARD MEMBER, MANAGEMENT MEMBER, AND/OR EMPLOYEE INFORM THE COMPANY PROMPTLY IN WRITING OF ANY CHANGE IN THE STATEMENT MADE IN THE SIGNED FORMS. ALL NEW DIRECTORS, MANAGEMENT MEMBERS AND EMPLOYEES ARE REQUIRED TO ALSO COMPETE AND SIGN THE FORM UPON THEIR START DATE. BOARD MEMBERS MUST ABSTAIN FROM DISCUSSION AND VOTING ON ANY MATTERS IN WHICH THEY HAVE REPORTED A POTENTIAL CONFLICT OF INTEREST. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE COMPENSATION OF THE CEO IS SET BY THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD ("COMPENSATION COMMITTEE OR "COMMITTEE"), WHICH MEETS AS A COMMITTEE OF THE WHOLE BOARD (EXCLUDING THE CEO). THE COMPENSATION COMMITTEE REVIEWS THE CEO'S PERFORMANCE ANNUALLY AND PREPARES A FORMAL WRITTEN REVIEW OF THEIR FINDINGS. THE COMMITTEE/BOARD ALSO PERIODICALLY (GENERALLY EVERY TWO YEARS) OBTAINS AN INDEPENDENT SALARY STUDY, LAST PREPARED AS OF MARCH 2024, BY PAY GOVERNANCE, WHICH PROVIDES SALARY DATA FOR ALL OFFICER POSITIONS AND MOST OTHER COMPANY POSITIONS. ONCE PERFORMED AND AVAILABLE, THE COMMITTEE REVIEWS THE SALARY STUDY AND ACCEPTS IT AS PART OF ITS DELIBERATIONS, WHICH ARE DOCUMENTED, ALONG WITH THE COMMITTEE'S CONCLUSIONS, IN THE COMPENSATION COMMITTEE MINUTES. THE SALARY STUDY ALSO PROVIDES DATA ON BONUSES FOR DIFFERENT POSITIONS, WHICH IS USED BY THE COMPENSATION COMMITTEE TO ARRIVE AT THE CEO'S ANNUAL BONUS AWARD, IF ANY. THE CEO IS GIVEN AUTHORITY BY THE BOARD, UNDER THE COMPANY'S BOARD POLICY, TO SET ALL OTHER OFFICER AND EMPLOYEE SALARIES AND BONUS AWARDS, AND IS SUBJECT TO GUIDANCE PROVIDED WITHIN THE INDEPENDENT SALARY STUDY THAT IS PROVIDED TO THE BOARD. DURING PERIODS IN WHICH THE INDEPENDENT SALARY STUDY IS NOT OBTAINED (SUCH AS FOR 2021 AND 2023, THE "OFF" CYCLE YEARS), THE COMPANY PURCHASES SPECIFIC SALARY INFORMATION FOR ITS VARIOUS POSITIONS. THE REVIEW OF THE CEO'S SALARY, BONUS AND OTHER COMPENSATION MATTERS WAS LAST PERFORMED BY THE COMPENSATION COMMITTEE AS OF DECEMBER 10, 2022 (FOR ESTABLISHMENT OF 2023 SALARY AND 2022 BONUS AWARDS), OF NOTE, THERE WAS NO EXECUTIVE COMPENSATION MEETING FOR THE DETERMINATION OF THE NEW CEO INCENTIVE COMPENSATION IN 2023. BONUS AND MERIT INCREASES FOR THE CEO WERE DETERMINED IN 2024. |
| FORM 990, PART VI, SECTION C, LINE 19 | QUARTERLY FINANCIAL STATEMENTS AND ANNUAL AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE COMPANY'S MEMBERS/INSURED POLICYHOLDERS AT ITS WEBSITE UNDER THE "POLICYHOLDERS" SECTION. ANY DOCUMENTS OPEN FOR PUBLIC INSPECTION ARE ALSO AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | NET CHANGE IN PARTICIPATING CREDIT UNIONS' CAPITAL CONTRIBUTIONS -1,011,088. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EXCESS SHARE INSURANCE CORPORATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5656 FRANTZ ROAD | AddressLine1Txt |
| City | DUBLIN | CityNm |
| State Abbreviation | OH | StateAbbreviationCd |
| ZIP | 43017 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 311383517 | EIN |
| Primary Activities | EXCESS DEPOSIT INSURANCE FOR CREDIT UNIONS | PrimaryActivitiesTxt |
| Legal Domicile State | OH | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | AMERICAN MUTUAL SHARE INSURANCE CORPORATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C | EntityTypeTxt |
| Share Of Total Income | $4,616,120 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $90,581,568 | ShareOfEOYAssetsAmt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| EXCESS SHARE INSURANCE CORPORATION | ||
| L | $2,778,000 | COST SHARING ALLOCATION |
| EXCESS SHARE INSURANCE CORPORATION | ||
| Q | $1,914,335 | COST SHARING ALLOCATION |