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Turnaround Management Association INC

Not tax-deductible

Stratford, CT501(c)(6)Mutual / membership EIN 13-3976490Revenue $479K in FY2024

On file with the IRSturnaround.org/nyc1341 W Broad Street, 06615-5769 · Stratford, CTTax-exempt since Jul 1998

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To serve as a forum for corporate renewal professionals from all disciplines.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
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
4 of 5
filings with a surplus
Average surplus $21K a year · 6% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
24 mo
of spending, in cash
Looks good: 23.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$7K
0.8% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
26
of 26 voting members
Looks good: 26 of 26 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$479K
+13% vs prior year
Spent
$395K
Net assets
$775K
By yearFY2020–FY2024
Revenue
$479K
FY2024▲ +13%
Tap a bar for its year
Revenue by fiscal year
FY2020$246K
FY2021$292K
FY2022$359K
FY2023$423K
FY2024$479K
Expenses
$395K
FY2024▼ -4%
Tap a bar for its year
Expenses by fiscal year
FY2020$215K
FY2021$228K
FY2022$445K
FY2023$410K
FY2024$395K
Net assets
$775K
FY2024▲ +12%
Tap a bar for its year
Net assets by fiscal year
FY2020$699K
FY2021$763K
FY2022$677K
FY2023$690K
FY2024$775K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1998.

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

Who runs it and what they're paid

26 people listed on the 990.

Part VII, Section A · reportable compensation
Shante George
Chairperson/Governance Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Molly Jobe
President-Elect
$0Pt VII · Sec A
John Weiss
VP General Counsel/Secretary/Governance
$0Pt VII · Sec A
Waynee Weitz
VP Membership
$0Pt VII · Sec A
Robert Trenk
VP Programming
$0Pt VII · Sec A
Marti Murray
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
See Turnaround Management Association INC 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Connects corporate renewal professionals across all fields.

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Provided by the organization

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3 programs · in their own filed words · FY2024
01

Golf and tennis outings provide the opportunity for members and guests to network with corporate renewal professionals from disciplines other than their own and expand their contacts, allowing them to better serve their clients.

Pt IX · col B
02

Educational sessions with guest speakers provide the opportunity for members to hone corporate renewal skills. These sessions also provide for the free exchange of technical and professional information.

Pt IX · col B
03

Conferences and BREAKFAST/LUNCH/DINNER meetings provide the opportunity for members and guests to network with a diverse group of turnaround management professionals from many disciplines.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 1 grant · $2K · 2024–2024
Unitemized GrantFY2024$2,500

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$479K
Ln 12
Fees for servicesLn 2g$413K
Gifts and grantsLn 1h$46K
Investment incomeLn 3$20K
Money outPt IX
$395K
Ln 25
Owns and owesPt X
$775K
net assets · Ln 32
Cash and savingsLn 1–2$781K
Total assetsLn 16$781K
LiabilitiesLn 26$7K
PeoplePt VI, VII
26
listed · VII A
PaidVII A0
Voting boardVI 1a26
IndependentVI 1b26
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$46K
Fees for servicesLn 2g$413K
Investment incomeLn 3$20K
Total revenueLn 12$479K
Assets in detailPt X, end of year
CashLn 1$279K
SavingsLn 2$502K
Cash and savings togetherLn 1–2$781K
Total assetsLn 16$781K
LiabilitiesLn 26$7K
Net assetsLn 32$775K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$690K$781K
Total assetsLn 16$690K$781K
LiabilitiesLn 26$0$7K
Net assetsLn 32$690K$775K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2K
Grants to domestic individualsLn 2$2K
Accounting feesLn 11c$4K
Other fees for servicesLn 11g$105K
Advertising and promotionLn 12$2K
Office expensesLn 13$3K
Conferences, conventions and meetingsLn 19$12K
InsuranceLn 23$2K
Other expenses (24a–d)Ln 24$261K
Total functional expensesLn 25$395K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $479K$395K$84K$775K 990 PDF
FY2023 $423K$410K$13K$690K 990 PDF
FY2022 $359K$445K−$86K$677K 990 PDF
FY2021 $292K$228K$63K$763K 990 PDF
FY2020 $246K$215K$31K$699K 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 FY2024 990 (6 parts)
Part I · Summary $478,937 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$46,308
I-9 Program service revenuePrior year $184,943$412,866
I-10 Investment incomePrior year $5,635$19,763
I-11 Other revenuePrior year $232,807$0
I-12 Total revenuePrior year $423,385$478,937
I-13 Grants and similar amounts paidPrior year $0$4,566
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $410,230$389,997
I-18 Total expensesPrior year $410,230$394,563
I-19 Revenue less expensesPrior year $13,155$84,374
Part VI · Governance 26 of 26 board members independent, 4 to look at
VI-1a Voting members of the governing body26
VI-1b Independent voting members26
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $478,937 across 5 lines filed
VIII-1b Membership dues$46,308
VIII-1h Total contributions, gifts and grants$46,308
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $412,866$412,866
VIII-3 Investment incomeExcluded from tax $19,763$19,763
VIII-12 Total revenueRelated to mission $412,866 · Unrelated business $0 · Excluded from tax $19,763$478,937
Part IX · Statement of functional expenses $394,563 across 9 lines filed
IX-1 Grants to domestic organizations$2,066
IX-2 Grants to domestic individuals$2,500
IX-11c Accounting fees$3,857
IX-11g Other fees for services$105,309
IX-12 Advertising and promotion$2,497
IX-13 Office expenses$2,632
IX-19 Conferences, conventions and meetings$12,347
IX-23 Insurance$2,494
IX-24 Other expenses (24a–d)$260,861
IX-25 Total functional expenses$394,563
Part X · Balance sheet $781,218 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $690,333$279,302
X-2 Savings and temporary cash investments$501,916
X-16 Total assetsStart of year $690,333$781,218
X-25 Other liabilitiesStart of year $0$6,511
X-26 Total liabilitiesStart of year $0$6,511
X-27 Net assets without donor restrictionsStart of year $690,333$774,707
X-32 Total net assets or fund balancesStart of year $690,333$774,707
X-33 Total liabilities and net assetsStart of year $690,333$781,218
Part XI · Reconciliation of net assets $774,707 net assets at year end
XI-1 Total revenue$478,937
XI-2 Total expenses$394,563
XI-3 Revenue less expenses$84,374
XI-4 Net assets at start of year$690,333
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$774,707

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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