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Nonprofit · EIN 56-0473262

FARMERS MUTUAL FIRE INSURANCE COMPANY OF CLEVELAND COUNTY

Tax-exempt · SHELBY, NC 28150

Financials

$536K$747K2023$584K$816K2024
Revenue Expenses · by fiscal year end
Financials of FARMERS MUTUAL FIRE INSURANCE COMPANY OF CLEVELAND COUNTY by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$584,443$815,644-$231,201$2,117,803$634,491$1,483,312
December 31, 2023990$536,478$746,783-$210,305$2,292,228$660,490$1,631,738
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$498,371
Investment income
$85,391
Net gain from sales of assets
$13,442
Other revenue
$681

Expenses

Grants and similar amounts paid
$0
Benefits paid to members
$411,427
Compensation of officers, directors and key employees
$58,962
Other salaries and wages
$96,443
Salaries, compensation and benefits (total)
$172,983
Professional fundraising fees
$0
Accounting fees
$46,069
Travel
$1,586
Depreciation
$14,044
Program services (functional)
$815,644

Balance sheet and other

Total assets, start of year
$2,292,228
Total assets, end of year
$2,117,803
Total liabilities, end of year
$634,491
Net assets, end of year
$1,483,312
Land, buildings and equipment
$49,925
Publicly traded securities
$1,197,938
Gross receipts
$1,106,484
Employees
3
Year formed
1906
State of legal domicile
NC

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
JENNIFER S PARKERSECRETARY/TR
Trustee or director, Officer
40$49,327
MICHAEL SPAKEPRESIDENT
Trustee or director, Officer
5$4,685
BRENT ELMOREDIRECTOR
Trustee or director
2$750
ED GOFORTHDIRECTOR
Trustee or director
2$750
ROBYN HOUSERDIRECTOR
Trustee or director
2$750
E A BINGHAM JRDIRECTOR
Trustee or director
2$750
MAX J HAMRICKVICE PRESIDE
Trustee or director, Officer
2$600
JEFFREY CROTTSDIRECTOR
Trustee or director
2$450
EDDIE HARRILLDIRECTOR
Trustee or director
2$450
ANDREW WHITEDIRECTOR
Trustee or director
2$450
990 for the year ended December 31, 2023: 11 people
NameTitleHours / weekCompensation
JENNIFER S PARKERSECRETARY/TR
Trustee or director, Officer
40$47,739
MICHAEL SPAKEPRESIDENT
Trustee or director, Officer
5$1,225
NELSON BIGGERSDIRECTOR
Trustee or director
2$150
BRENT ELMOREDIRECTOR
Trustee or director
2$150
ED GOFORTHDIRECTOR
Trustee or director
2$150
MAX J HAMRICKVICE PRESIDE
Trustee or director, Officer
2$150
EDDIE HARRILLDIRECTOR
Trustee or director
2$150
E A BINGHAM JRDIRECTOR
Trustee or director
2$150
ANDREW WHITEDIRECTOR
Trustee or director
2$150
JEFFREY CROTTSDIRECTOR
Trustee or director
2$0
ROBYN HOUSERDIRECTOR
Trustee or director
2$0

Address and contacts

Address (IRS master file)
102 N WASHINGTON ST, SHELBY, NC 28150-4653
Principal officer (990 for 2024)
JENNIFER S PARKER, 102 N WASHINGTON STREET, SHELBY, NC 28150
Signed the 990
JENNIFER S PARKER, SECRETARY/TREASURER
Phone
(704) 487-9692
Return prepared by
COBB EZEKIEL LOY & COMPANY PA

Mission

TO PROVIDE COVERAGE AGAINST THE PERILS OF FIRE, LIGHTNING, WIND, AND EXTENDED COVERAGE ON DWELLINGS AND OTHER FARM BUILDINGS.

990 for the year ended December 31, 2024

Program accomplishments

  • THE ORGANIZATION PROVIDED COVERAGE TO APPROXIMATELY 995 POLICYHOLDERS DURING THE YEAR. A TOTAL OF 558,310 WAS PAID TO POLICYHOLDERS RESULTING FROM APPROXIMATELY 114 LOSS CLAIMS DURING THE YEAR.
    Expenses $815,644 · revenue $584,422

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
56-0473262
Tax-exempt status
501(c)(15): Mutual insurance company
Exempt since
1992
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$2,117,803
Income (IRS master file)
$1,106,484

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$584,443$815,644$2,117,803XML
990December 2023$536,478$746,783$2,292,228XML
990December 2022$550,750$520,708$2,359,052IRS
990December 2021$621,483$547,778$2,675,710IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-0473262).

Questions about FARMERS MUTUAL FIRE INSURANCE COMPANY OF CLEVELAND COUNTY

What is the EIN of FARMERS MUTUAL FIRE INSURANCE COMPANY OF CLEVELAND COUNTY?
The employer identification number (EIN) of FARMERS MUTUAL FIRE INSURANCE COMPANY OF CLEVELAND COUNTY is 56-0473262.
Is FARMERS MUTUAL FIRE INSURANCE COMPANY OF CLEVELAND COUNTY tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(15) since 1992.
Which annual return does FARMERS MUTUAL FIRE INSURANCE COMPANY OF CLEVELAND COUNTY file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of FARMERS MUTUAL FIRE INSURANCE COMPANY OF CLEVELAND COUNTY due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did FARMERS MUTUAL FIRE INSURANCE COMPANY OF CLEVELAND COUNTY last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of FARMERS MUTUAL FIRE INSURANCE COMPANY OF CLEVELAND COUNTY?
The 990 for the year ended December 31, 2024 names JENNIFER S PARKER.
Who are the officers and directors of FARMERS MUTUAL FIRE INSURANCE COMPANY OF CLEVELAND COUNTY?
The 990 for the year ended December 31, 2024 lists 10 people; 10 received compensation from the organization, the highest $49,327 (JENNIFER S PARKER, SECRETARY/TR).
How much revenue does FARMERS MUTUAL FIRE INSURANCE COMPANY OF CLEVELAND COUNTY have?
On its 990 for the year ended December 31, 2024 it reported revenue of $584,443, expenses of $815,644 and total assets of $2,117,803 at year end.

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