Nonprofit · EIN 41-0502642
RICE COUNTY MUTUAL INSURANCE COMPANY
Tax-exempt · FARIBAULT, MN 55021
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $387,501 | $268,550 | $118,951 | $4,617,395 | $149,595 | $4,467,800 |
| December 31, 2023 | 990 | $461,744 | $404,430 | $57,314 | $4,546,259 | $194,187 | $4,352,072 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $249,727
- Investment income
- $137,774
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $38,046
- Compensation of officers, directors and key employees
- $73,322
- Salaries, compensation and benefits (total)
- $78,558
- Professional fundraising fees
- $0
- Accounting fees
- $40,288
- Occupancy
- $15,151
- Travel
- $2,095
Balance sheet and other
- Total assets, start of year
- $4,546,259
- Total assets, end of year
- $4,617,395
- Total liabilities, end of year
- $149,595
- Net assets, end of year
- $4,467,800
- Publicly traded securities
- $3,113,851
- Gross receipts
- $387,501
- Employees
- 1
- Volunteers
- 0
- Year formed
- 1895
- State of legal domicile
- MN
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.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ROBIN HERRLEY | EXECUTIVE/TREASURER Officer | 40 | $65,747 | $1,500 |
| HOWARD SCHOENFELD | PRESIDENT Trustee or director, Officer | 1 | $2,150 | $0 |
| RONALD MAAS | VICE PRESIDENT Trustee or director, Officer | 1 | $1,400 | $0 |
| PAUL MEYER | DIRECTOR Trustee or director | 1 | $1,100 | $0 |
| DANIEL PUMPER | SECRETARY Trustee or director, Officer | 1 | $925 | $0 |
| LAWRENCE MCFADDEN | DIRECTOR Trustee or director | 1 | $500 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ROBIN HERRLEY | TREASURER Officer | 40 | $55,548 | $6,000 |
| HOWARD SCHOENFELD | PRESIDENT Trustee or director, Officer | 1 | $1,950 | $0 |
| LAWRENCE MCFADDEN | DIRECTOR Trustee or director | 1 | $1,200 | $0 |
| RONALD MAAS | VICE PRESIDE Trustee or director, Officer | 1 | $1,100 | $0 |
| DANIEL PUMPER | SECRETARY Trustee or director, Officer | 1 | $1,025 | $0 |
| PAUL MEYER | DIRECTOR Trustee or director | 1 | $1,000 | $0 |
Address and contacts
- Address (IRS master file)
- 204 CENTRAL AVE N, FARIBAULT, MN 55021-5213
- Principal officer (990 for 2024)
- HOWARD SCHOENFELD, PO BOX 451, FAIRBAULT, MN 55021
- Signed the 990
- HOWARD SCHOENFELD, PRESIDENT
- Phone
- (507) 334-8145
- Return prepared by
- CREATIVE PLANNING TAX LLC
Mission
THE COMPANY PROVIDES FIRE AND ADDITIONAL LINES INSURANCE COVERAGES TO POLICYHOLDERS/MEMBERS AND PAYS CLAIMS ON COVERED POLICYHOLDER LOSSES.
Program accomplishments
- WE HAVE PROVIDED PROPERTY INSURANCE FOR OUR MEMBERS PER SECTION 501(C)(15) NUMBER OF MEMBERS: 315 INSURANCE IN FORCE: $306,418,404
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 41-0502642
- Tax-exempt status
- 501(c)(15): Mutual insurance company
- Donations deductible
- No
- Exempt since
- 1987
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $4,617,395
- Income (IRS master file)
- $387,501
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $387,501 | $268,550 | $4,617,395 | XML |
| 990 | December 2023 | $461,744 | $404,430 | $4,546,259 | XML |
| 990 | December 2022 | $320,407 | $244,813 | $4,428,534 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
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 41-0502642).
Questions about RICE COUNTY MUTUAL INSURANCE COMPANY
- What is the EIN of RICE COUNTY MUTUAL INSURANCE COMPANY?
- The employer identification number (EIN) of RICE COUNTY MUTUAL INSURANCE COMPANY is 41-0502642.
- Is RICE COUNTY MUTUAL INSURANCE COMPANY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(15) since 1987.
- Are donations to RICE COUNTY MUTUAL INSURANCE COMPANY tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does RICE COUNTY MUTUAL INSURANCE COMPANY 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 RICE COUNTY MUTUAL INSURANCE COMPANY 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 RICE COUNTY MUTUAL INSURANCE COMPANY 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 RICE COUNTY MUTUAL INSURANCE COMPANY?
- The 990 for the year ended December 31, 2024 names HOWARD SCHOENFELD.
- Who are the officers and directors of RICE COUNTY MUTUAL INSURANCE COMPANY?
- The 990 for the year ended December 31, 2024 lists 6 people; 6 received compensation from the organization, the highest $65,747 (ROBIN HERRLEY, EXECUTIVE/TREASURER).
- How much revenue does RICE COUNTY MUTUAL INSURANCE COMPANY have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $387,501, expenses of $268,550 and total assets of $4,617,395 at year end.
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