Awane Ins Tr FY2021 filing

Not tax-deductible

Peterborough, NHMutual-benefit / member-servingSince 2022Mutual/Membership EIN 02-6108886Revenue $19.4M in FY2021

On file with the IRSnarfa.com2 Main St # 4, 03458-2418 · Peterborough, NHTax-exempt since Mar 2001

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Through membership, Awane offers various employee benefit programs.

93¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $1.2M a year · 6% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
<1 mo
of spending, in cash
Plus $13.9M in investments, Pt X · Ln 11–13
Fine: 0.6 months of spending in cash, plus $13.9M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.8M
11% of total assets
Looks good: liabilities are 11% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$19.4M
+3% vs prior year
Spent
$21.2M
To programs
93%
Net assets
$14.5M
By yearFY2020–FY2024
Revenue
$19.4M
FY2021▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2020$18.8M
FY2021$19.4M
FY2022$19.4M
FY2023$23.5M
FY2024$20.9M
Expenses
$21.2M
FY2021▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$19.9M
FY2021$21.2M
FY2022$20.9M
FY2023$23.1M
FY2024$22.8M
Net assets
$14.5M
FY2021▼ -12%
Tap a bar for its year
Net assets by fiscal year
FY2020$16.5M
FY2021$14.5M
FY2022$12.4M
FY2023$13.2M
FY2024$12.4M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2001.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $19.7M Management & general 7% · $1.4M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

17 people listed on the 990.

Part VII, Section A · reportable compensation
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Robert York’s $30K as Chairman is at the 29th percentile of top reported officer pay among 164 $10–100M mutual/membership nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See Awane Ins Tr executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers employee benefit programs through membership.

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Provided by the organization

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1 program · $19.7M · in their own filed words · FY2021
01

Provided medical, dental and life benefits to employees and their dependents.

$19.7Mprogram expense

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$19.4M
Ln 12
Fees for servicesLn 2g$19.1M
Investment incomeLn 3$370K
Money outPt IX
$21.2M
Ln 25
Programscol B$19.7M
Managementcol C$1.4M
Owns and owesPt X
$14.5M
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$16.3M
LiabilitiesLn 26$1.8M
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$19.1M
Investment incomeLn 3$370K
Gains on assetsLn 7$172K
Total revenueLn 12$19.4M
Assets in detailPt X, end of year
CashLn 1$1.0M
SavingsLn 2$100K
Cash and savings togetherLn 1–2$1.1M
InvestmentsLn 11–13$13.9M
Land, buildings, equipmentLn 10c$3K
Other assetsLn 15$40K
Total assetsLn 16$16.3M
LiabilitiesLn 26$1.8M
Net assetsLn 32$14.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 617
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$2.3M$1.1M
InvestmentsLn 11–13$14.2M$13.9M
Land, buildings, equipmentLn 10c$13K$3K
Total assetsLn 16$17.9M$16.3M
LiabilitiesLn 26$1.4M$1.8M
Net assetsLn 32$16.5M$14.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$10.9M$10.9M
Accounting feesLn 11c$47K$47K
Advertising and promotionLn 12$2K$2K
Depreciation, depletion and amortizationLn 22$10K$10K
InsuranceLn 23$7.6M$7.6M
Other expenses (24a–d)Ln 24$2.6M$1.2M$1.3M
All other expensesLn 24e$75K$75K
Total functional expensesLn 25$21.2M$19.7M$1.4M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $20.9M$22.8M−$1.9M$12.4M 990 PDF
FY2023 $23.5M$23.1M$392K$13.2M 990 PDF
FY2022 $19.4M$20.9M−$1.5M$12.4M 990 PDF
FY2021 Viewing $19.4M$21.2M−$1.8M$14.5M 990 PDF
FY2020 $18.8M$19.9M−$1.1M$16.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $19,422,061 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $18,051,026$19,052,168
I-10 Investment incomePrior year $742,028$369,893
I-11 Other revenue$0
I-12 Total revenuePrior year $18,793,054$19,422,061
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to membersPrior year $9,295,729$10,880,853
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $10,615,148$10,308,002
I-18 Total expensesPrior year $19,910,877$21,188,855
I-19 Revenue less expensesPrior year −$1,117,823−$1,766,794
Part VI · Governance 16 of 16 board members independent, 2 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $19,422,061 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $19,052,168$19,052,168
VIII-3 Investment incomeExcluded from tax $197,728$197,728
VIII-7 Net gain or loss on sales of assetsExcluded from tax $172,165$172,165
VIII-12 Total revenueRelated to mission $19,052,168 · Excluded from tax $369,893$19,422,061
Part IX · Statement of functional expenses $21,188,855 across 7 lines filed
IX-4 Benefits paid to or for membersPrograms $10,880,853$10,880,853
IX-11c Accounting feesManagement $46,975$46,975
IX-12 Advertising and promotionPrograms $1,635$1,635
IX-22 Depreciation, depletion and amortizationPrograms $9,936$9,936
IX-23 InsurancePrograms $7,609,989$7,609,989
IX-24 Other expenses (24a–d)Programs $1,243,380 · Management $1,320,658$2,564,038
IX-24e All other expensesManagement $75,429$75,429
IX-25 Total functional expensesPrograms $19,745,793 · Management $1,443,062 · Fundraising $0$21,188,855
Part X · Balance sheet $16,348,379 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $2,212,267$1,046,595
X-2 Savings and temporary cash investmentsStart of year $100,000$100,000
X-4 Accounts receivableStart of year $1,326,026$1,289,516
X-10c Land, buildings and equipment, netStart of year $13,142$3,216
X-11 Publicly traded securitiesStart of year $14,160,318$13,869,052
X-15 Other assetsStart of year $40,000$40,000
X-16 Total assetsStart of year $17,851,753$16,348,379
X-17 Accounts payable and accrued expensesStart of year $275,875$634,222
X-19 Deferred revenueStart of year $25,676$18,594
X-25 Other liabilitiesStart of year $1,099,206$1,150,517
X-26 Total liabilitiesStart of year $1,400,757$1,803,333
X-32 Total net assets or fund balancesStart of year $16,450,996$14,545,046
X-33 Total liabilities and net assetsStart of year $17,851,753$16,348,379
Part XI · Reconciliation of net assets $14,545,046 net assets at year end
XI-1 Total revenue$19,422,061
XI-2 Total expenses$21,188,855
XI-3 Revenue less expenses−$1,766,794
XI-4 Net assets at start of year$16,450,996
XI-5 Net unrealized gains (losses) on investments−$139,156
XI-10 Net assets at end of year$14,545,046

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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