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Wlvt Re INC

Not tax-deductible

Bethlehem, PAMutual-benefit / member-servingSince 2010Public & Societal BenefitEIN 27-4185043Revenue $240K in FY2024

On file with the IRS839 Sesame St, 18015-1391 · Bethlehem, PATax-exempt since Feb 2011

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To hold title to property, collecting the income therefrom and turning over the entire amount therof, less expenses, exclusively to lehigh valley public telecommunications corporation ("lvpt").

100¢ of each $1 spent went to programs.
Run by 15 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
0 of 5
filings with a surplus
Average deficit $131K a year · 55% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Liabilities
$1K
<0.01% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$240K
0% vs prior year
Spent
$371K
To programs
100%
Net assets
$10.7M
By yearFY2020–FY2024
Revenue
$240K
FY20240%
Tap a bar for its year
Revenue by fiscal year
FY2020$240K
FY2021$240K
FY2022$241K
FY2023$240K
FY2024$240K
FY2024$240K
Expenses
$371K
FY2024-0.04%
Tap a bar for its year
Expenses by fiscal year
FY2020$371K
FY2021$371K
FY2022$371K
FY2023$371K
FY2024$372K
FY2024$371K
Net assets
$10.7M
FY2024▼ -1%
Tap a bar for its year
Net assets by fiscal year
FY2020$11.4M
FY2021$11.2M
FY2022$11.1M
FY2023$11.0M
FY2024$10.8M
FY2024$10.7M

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2011.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $371K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

19 people listed on the 990.

Part VII, Section A · reportable compensation
Timothy Fallon
President/CEO, Thru 6/24
$0Pt VII · Sec A
Arthur Troccoli
CFO, Thru 3/24
$0Pt VII · Sec A
$0Pt VII · Sec A
Laks Srinivasan
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Luis Campos
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Wlvt Re 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 15aYes

Programs and updates

Manages property, collects income, and transfers net funds to its related entity.

Provided by the organization

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1 program · $371K · in their own filed words · FY2024
01

To hold title to property, collecting the income therefrom and turning over the entire amount therof, less expenses, exclusively to lehigh valley public telecommunications corporation ("LVPT").

$371Kprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$240K
Ln 12
Fees for servicesLn 2g$240K
Money outPt IX
$371K
Ln 25
Programscol B$371K
Owns and owesPt X
$10.7M
net assets · Ln 32
Total assetsLn 16$10.7M
LiabilitiesLn 26$1K
PeoplePt VI, VII
19
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$240K
Total revenueLn 12$240K
Assets in detailPt X, end of year
Land, buildings, equipmentLn 10c$8.8M
Other assetsLn 15$1.9M
Total assetsLn 16$10.7M
LiabilitiesLn 26$1K
Net assetsLn 32$10.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 615
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 FY24End FY24
Land, buildings, equipmentLn 10c$9.2M$8.8M
Total assetsLn 16$10.8M$10.7M
LiabilitiesLn 26$2K$1K
Net assetsLn 32$10.8M$10.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$2K
Depreciation, depletion and amortizationLn 22$369K
Total functional expensesLn 25$371K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $240K$372K−$132K$10.8M 990 PDF
FY2023 $240K$371K−$131K$11.0M 990 PDF
FY2022 $241K$371K−$130K$11.1M 990 PDF
FY2021 $240K$371K−$131K$11.2M 990 PDF
FY2020 $240K$371K−$131K$11.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $240,000 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $240,000$240,000
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $240,000$240,000
I-13 Grants and similar amounts paidPrior year $0$0
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 $371,567$371,417
I-18 Total expensesPrior year $371,567$371,417
I-19 Revenue less expensesPrior year −$131,567−$131,417
Part VI · Governance 15 of 15 board members independent, no flags
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $240,000 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $240,000$240,000
VIII-12 Total revenueRelated to mission $240,000 · Unrelated business $0 · Excluded from tax $0$240,000
Part IX · Statement of functional expenses $371,417 across 2 lines filed
IX-11c Accounting fees$2,265
IX-22 Depreciation, depletion and amortization$369,152
IX-25 Total functional expenses$371,417
Part X · Balance sheet $10,703,227 assets, 8 lines filed
X-10c Land, buildings and equipment, netStart of year $9,190,672$8,821,521
X-15 Other assetsStart of year $1,644,585$1,881,706
X-16 Total assetsStart of year $10,835,257$10,703,227
X-17 Accounts payable and accrued expensesStart of year $1,665$1,052
X-26 Total liabilitiesStart of year $1,665$1,052
X-27 Net assets without donor restrictionsStart of year $10,833,592$10,702,175
X-32 Total net assets or fund balancesStart of year $10,833,592$10,702,175
X-33 Total liabilities and net assetsStart of year $10,835,257$10,703,227
Part XI · Reconciliation of net assets $10,702,175 net assets at year end
XI-1 Total revenue$240,000
XI-2 Total expenses$371,417
XI-3 Revenue less expenses−$131,417
XI-4 Net assets at start of year$10,833,592
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$10,702,175

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

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