2025-11-11T07:35:04-06:00 2024-12-31 411360831 OLSEN THIELEN & CO LTD 2675 LONG LAKE ROAD ST PAUL MN 55113 990 2024-01-01 410950742 MINNESOTA FAIR PLAN MINN 6123387584 7900 INTERNATIONAL DRIVE 625 BLOOMINGTON MN 55425 GARY RUPP EXECUTIVE DIRECTOR 6123387584 2025-11-10 1 1 RYAN VETTRUS CPA P01243596 6514834521 2024 2025-03-06 01:10:19Z GARY RUPP 7900 INTERNATIONAL DRIVE 625 BLOOMINGTON MN 55425 4108120 0 X WWW.MNFAIRPLAN.ORG X 1969 MN TO PROVIDE OWNER AND TENANTS OF INDIVIDUAL RESIDENCES, SMALL BUSINESS OWNERS, FARMERS AND CO-OP RESIDENTS AN OPPORTUNITY TO PURCHASE LIMITED PROPERTY OR HOMEOWNERS INSURANCE WHEN THEY ARE UNABLE TO DO SO IN THE VOLUNTARY MARKET. 9 9 5 0 0 0 0 0 3231015 4023035 53570 84869 112 216 3284697 4108120 0 0 0 0 693453 723414 0 0 0 3443528 2234019 4136981 2957433 -852284 1150687 1833374 3208455 2150408 2398028 -317034 810427 TO PROVIDE OWNERS AND TENANTS OF INDIVIDUAL RESIDENCES, SMALL BUSINESS OWNERS, FARMERS AND CO-OP RESIDENTS AN OPPORTUNITY TO PURCHASE LIMITED PROPERTY OR HOMEOWNERS INSURANCE WHEN THEY ARE UNABLE TO DO SO IN THE VOLUNTARY MARKET. 0 0 DURING 2024, THE MINNESOTA FAIR PLAN PROVIDED INSURANCE COVERAGE TO APPROXIMATELY 3,400 POLICYHOLDERS THROUGHOUT THE STATE OF MINNESOTA. THE MN FAIR PLAN CONTINUED ITS ROLE AS THE PRIMARY FINANCIAL SUPPORTER FOR THE IAAI'S ARSON HOTLINE REWARD PROGRAM. IN ADDITION, THE FAIR PLAN CONTINUED ITS ROLE AS THE PRIMARY FINANCIAL SUPPORTER FOR THE GOVERNOR'S FIRE SAFETY DAY AT THE STATE FAIR. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 48 0 1 5 1 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X THE ORGANIZATION 6123387584 7900 INTERNATIONAL DRIVE 625 BLOOMINGTON MN 55425 GARY RUPP EXECUTIVE DIRECTOR 37.50 X 177646 0 13665 BRIAN HALLGREN INSURANCE OPERATIONS MANAGER 37.50 X 129190 0 10432 ELAINE LOVE TREASURER 1.00 X X 1200 0 0 MICHAEL MCHUGH SECRETARY 1.00 X X 800 0 0 SHERI MELANDER-SMITH DIRECTOR 1.00 X 800 0 0 STEVE KELLEY DIRECTOR BEGINNING JUNE 1.00 X X 600 0 0 ROGER OOMS CHAIR 1.00 X X 0 0 0 VICKY RIZZOLO VICE CHAIR 1.00 X X 0 0 0 SCOTT BAUER DIRECTOR 1.00 X 0 0 0 AMY HERRICK DIRECTOR 1.00 X 0 0 0 CHRIS MERIDETH DIRECTOR 1.00 X 0 0 0 310236 0 24097 2 0 1 0 MARIAS TECHNOLOGY 25 E WRIGHT ST COVINGTON OH 45318 IT SUPPORT 161625 INTEGRIS 1524 EAST 37TH STREET HIBBING MN 55746 MANAGEMENT SERVICES 126085 MIDWEST CLAIMS SERVICE 5107 E SUPERIOR ST DULUTH MN 55804 CLAIM/UNDERWRITING SERVICES 101431 3 PREMIUMS EARNED 524298 4023035 4023035 4023035 84869 84869 MISCELLANEOUS INCOME 900099 216 216 216 4108120 4023251 0 84869 194711 329308 104291 57280 37824 2954 43450 45751 91377 432489 66196 8177 12 25514 LOSSES & LAE INCURRED 906992 COMMISSIONS 327882 INSPECTIONS/SURVEYS 121457 PREMIUM TAXES 91297 70471 2957433 535 535 1832839 3207920 1833374 3208455 121297 148171 1410511 1839757 618600 410100 2150408 2398028 X 0 0 0 0 -317034 810427 -317034 810427 1833374 3208455 X 1150687 -23226 X X 0 1 X 1 0 0 UNPAID LOSS & LOSS ADJ EXPENSE 410100 410100 4108120 0 4108120 0 4108120 2957433 0 2957433 0 2957433 X X X 0 0 0 GARY RUPP EXECUTIVE DIRECTOR 177646 0 0 0 0 0 10814 0 2851 0 191311 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ALL INSURERS DOING BUSINESS IN MINNESOTA ARE MEMBERS OF THE FAIR PLAN. FORM 990, PART VI, SECTION A, LINE 7A ALL INSURERS DOING BUSINESS IN MINNESOTA ARE MEMBERS OF THE FAIR PLAN. MEMBER COMPANIES ELECT FIVE OF THE NINE BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE PLAN OF OPERATION MUST BE APPROVED BY THE COMMISSIONER OF COMMERCE. RATE CHANGES MUST ALSO BE PRE-APPROVED BY THE COMMISSIONER OF COMMERCE. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE COMPLETED 990 WILL BE PROVIDED TO EACH BOARD MEMBER VIA EMAIL. A BRIEF PERIOD OF TIME FOR REVIEW WILL BE ALLOWED, AND COMMENTS IF ANY, WILL BE SOLICITED AND ACTED UPON IF APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT EACH YEAR TO BE SUBMITTED AT THE ANNUAL MEETING OF THE BOARD. CONFLICT OF INTEREST STATEMENTS ARE KEPT ON FILE. FORM 990, PART VI, SECTION B, LINE 15 SALARY AND PERFORMANCE ARE REVIEWED ON AN ANNUAL BASIS. PERFORMANCE REVIEWS FOR THE EXECUTIVE DIRECTOR ARE DONE USING A SURVEY OF EACH BOARD MEMBER. EVERY YEAR A COMPENSATION SURVEY IS PROVIDED BY OUR NATIONAL ASSOCIATION THAT INFORMS US OF THE EXPECTED AVERAGE MERIT INCREASE FOR THE INSURANCE INDUSTRY FOR THE COMING YEAR. EVERY OTHER YEAR A SALARY REVIEW IS OBTAINED FROM AN HR FIRM FOR THE EXECUTIVE DIRECTOR'S JOB DESCRIPTION FOR THE PURPOSE OF MANAGEMENT OF THEIR SALARY RANGE. THE BOARD THEN DETERMINES MERIT INCREASES FOR THE EXECUTIVE DIRECTOR USING THIS INFORMATION AND THE RESULT OF THE PERFORMANCE REVIEW. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS ARE VIEWABLE BY THE PUBLIC AT OUR WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN NONADMITTED ASSETS, PER STATUTORY BASIS FINANCIAL STATEMENTS -23,226. FORM 990, PART XII, LINE 2B: MINNESOTA FAIR PLAN'S FINANCIAL STATEMENTS ARE PREPARED IN CONFORMITY WITH ACCOUNTING PRACTICES PRESCRIBED BY THE DEPARTMENT OF COMMERCE OF THE STATE OF MINNESOTA, WHICH IS A COMPREHENSIVE BASIS OF ACCOUNTING OTHER THAN ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES TO THE AUDIT OVERSIGHT PROCESS.