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Ifpa Retiree Veba Tr

Not tax-deductible

Tinley Park, ILMutual-benefit / member-servingMutual/Membership EIN 32-6528294Revenue $82K in FY2025

On file with the IRSillinoisfairplan.comPo Box 849, 60477-0849 · Tinley Park, ILTax-exempt since Aug 2019

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Volunteer association used as a funding vehicle, providing reimbursements to retirees of the Ifpa.

Mission: Form 990 Part I, line 1

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FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $201K a year · 66% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
2 mo
of spending, in cash
Plus $2.5M in investments, Pt X · Ln 11–13
Fine: 1.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$71K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$82K
-43% vs prior year
Spent
$184K
Net assets
$2.4M
By yearFY2020–FY2025
Revenue
$82K
FY2025▼ -43%
Tap a bar for its year
Revenue by fiscal year
FY2020$596K
FY2021$472K
FY2022$472K
FY2023$51K
FY2024$145K
FY2025$82K
Expenses
$184K
FY2025▲ +23%
Tap a bar for its year
Expenses by fiscal year
FY2020$30K
FY2021$23K
FY2022$76K
FY2023$148K
FY2024$150K
FY2025$184K
Net assets
$2.4M
FY2025▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.6M
FY2021$2.1M
FY2022$2.2M
FY2023$2.3M
FY2024$2.3M
FY2025$2.4M

From the FY2025 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2019.

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

Who runs it and what they're paid

4 people listed on the 990.

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

Reimburses IFPA retirees for volunteer work.

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Provided by the organization

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1 program · in their own filed words · FY2025
01

Provides reimbursements to eligible retirees of the illinois fair plan association for certain medical expenses occurred by the retirees, their spouses, and dependent children.

Pt IX · col B

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$82K
Ln 12
Investment incomeLn 3$82K
Money outPt IX
$184K
Ln 25
Owns and owesPt X
$2.4M
net assets · Ln 32
Cash and savingsLn 1–2$26K
Total assetsLn 16$2.5M
LiabilitiesLn 26$71K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$82K
Gains on assetsLn 7−$16K
Total revenueLn 12$82K
Assets in detailPt X, end of year
SavingsLn 2$26K
Cash and savings togetherLn 1–2$26K
InvestmentsLn 11–13$2.5M
Other assetsLn 15$119
Total assetsLn 16$2.5M
LiabilitiesLn 26$71K
Net assetsLn 32$2.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$45K$26K
InvestmentsLn 11–13$2.3M$2.5M
Total assetsLn 16$2.3M$2.5M
LiabilitiesLn 26$4K$71K
Net assetsLn 32$2.3M$2.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$156K
Accounting feesLn 11c$2K
Investment management feesLn 11f$26K
Total functional expensesLn 25$184K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $82K$184K−$102K$2.4M 990 PDF
FY2024 $145K$150K−$5K$2.3M 990 PDF
FY2023 $51K$148K−$96K$2.3M 990 PDF
FY2022 $472K$76K$396K$2.2M 990 PDF
FY2021 $472K$23K$450K$2.1M 990 PDF
FY2020 $596K$30K$565K$1.6M 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 FY2025 990 (6 parts)
Part I · Summary $82,281 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $145,198$82,281
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $145,198$82,281
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $123,165$155,756
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $26,657$28,619
I-18 Total expensesPrior year $149,822$184,375
I-19 Revenue less expensesPrior year −$4,624−$102,094
Part VI · Governance 0 of 3 board members independent, 3 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $82,281 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $97,971$97,971
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$15,690−$15,690
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $82,281$82,281
Part IX · Statement of functional expenses $184,375 across 3 lines filed
IX-4 Benefits paid to or for members$155,756
IX-11c Accounting fees$2,400
IX-11f Investment management fees$26,219
IX-25 Total functional expenses$184,375
Part X · Balance sheet $2,483,936 assets, 8 lines filed
X-2 Savings and temporary cash investmentsStart of year $44,849$25,855
X-11 Publicly traded securitiesStart of year $2,290,267$2,457,962
X-15 Other assetsStart of year $297$119
X-16 Total assetsStart of year $2,335,413$2,483,936
X-17 Accounts payable and accrued expensesStart of year $4,500$71,212
X-26 Total liabilitiesStart of year $4,500$71,212
X-32 Total net assets or fund balancesStart of year $2,330,913$2,412,724
X-33 Total liabilities and net assetsStart of year $2,335,413$2,483,936
Part XI · Reconciliation of net assets $2,412,724 net assets at year end
XI-1 Total revenue$82,281
XI-2 Total expenses$184,375
XI-3 Revenue less expenses−$102,094
XI-4 Net assets at start of year$2,330,913
XI-5 Net unrealized gains (losses) on investments$183,905
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,412,724

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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