Icta Benefit Tr FY2022 filing

Not tax-deductible

Valatie, NYMutual-benefit / member-servingSince 2004Mutual/MembershipEIN 54-2149403

To establish and maintain a fund to pay or provide welfare benefits for eligible employees, their families, and dependents.

$3K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2022 · 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
3 of 4
filings with a surplus
Average surplus $10K a year · 3% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$3K
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 6.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 7 voting members
Concern: none of 7 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$323K
-0.2% vs prior year
Spent
$319K
To programs
0%
Net assets
$171K
By yearFY2021–FY2024
Revenue
$323K
FY2022-0.2%
Revenue by fiscal year
FY2021$324K
FY2022$323K
FY2023$326K
FY2024$345K
FY2024$371K
Expenses
$319K
FY2022▼ -3%
Expenses by fiscal year
FY2021$328K
FY2022$319K
FY2023$307K
FY2024$325K
FY2024$352K
Net assets
$171K
FY2022▲ +3%
Net assets by fiscal year
FY2021$167K
FY2022$171K
FY2023$190K
FY2024$210K
FY2024$229K

From the FY2022 Form 990 (year ending June 2022) · see the original

You’re viewing the FY2022 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 Jun 2007.

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

Who runs it and what they're paid

7 people listed on the 990; $3K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Membership/Benefits Coordinator
$1,564Pt VII · Sec A
Treasurer
$575Pt VII · Sec A
$400Pt VII · Sec A
Chairperson
$250Pt VII · Sec A
$150Pt VII · Sec A
$150Pt VII · Sec A
$150Pt VII · Sec A

Judith Ooms’s $2K as Membership/Benefits Coordinator is at the 15th percentile of top reported officer pay among 539 $100K–1M 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.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021
Judith Ooms$1,584$1,584$1,584$1,564$1,552
Victoria Austin$575$575———
David Vona——$575$575$575
Karen Seymourian$400$400$400——
Karen Veceillo———$400$400
John Willary III$250$250$250$250$250
Christine Suchoski$150$150———
Kathleen Bolsted$150$150$150$150$150

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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

Provides benefits for eligible employees and their families.

Provided by the organization

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1 program service account for $314K of program spending, described in the organization's own filed words · FY2021.
01

To establish and maintain a fund to pay or provide welfare benefits for eligible employees, their families, and dependents. Benefits include dental, vision, legal, etc.

$314Kprogram expense

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By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$323K
Ln 12
Fees for servicesLn 2g$323K
Investment incomeLn 3$63
Money outPt IX
$319K
Ln 25
Owns and owesPt X
$171K
net assets · Ln 32
Cash and savingsLn 1–2$171K
Total assetsLn 16$171K
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A7
Voting boardVI 1a7
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$323K
Investment incomeLn 3$63
Total revenueLn 12$323K
Assets in detailPt X, end of year
CashLn 1$602
SavingsLn 2$170K
Cash and savings togetherLn 1–2$171K
Total assetsLn 16$171K
LiabilitiesLn 26$0
Net assetsLn 32$171K
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderJune
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 FY22End FY22
Cash and savingsLn 1–2$167K$171K
Total assetsLn 16$167K$171K
LiabilitiesLn 26$0$0
Net assetsLn 32$167K$171K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$315K
Pay of current officers, directors and key staffLn 5$3K
Accounting feesLn 11c$591
Office expensesLn 13$66
Total functional expensesLn 25$319K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $345K$325K$20K$210K 990 PDF
FY2023 $326K$307K$19K$190K 990 PDF
FY2022 Viewing $323K$319K$4K$171K 990 PDF
FY2021 $324K$328K−$4K$167K 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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $323,158 across 12 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$0
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $323,095 · Unrelated business $0 · Excluded from tax $0$323,095
VIII-3 Investment incomeRelated to mission $63 · Unrelated business $0 · Excluded from tax $0$63
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $323,158 · Unrelated business $0 · Excluded from tax $0$323,158
Part IX · Statement of functional expenses $318,784 across 4 lines filed
IX-4 Benefits paid to or for members$314,888
IX-5 Pay of current officers, directors and key staff$3,239
IX-11c Accounting fees$591
IX-13 Office expenses$66
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$318,784
Part X · Balance sheet $170,978 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $626$602
X-2 Savings and temporary cash investmentsStart of year $165,978$170,376
X-16 Total assetsStart of year $166,604$170,978
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $166,604$170,978
X-33 Total liabilities and net assetsStart of year $166,604$170,978
Part XI · Reconciliation of net assets $170,978 net assets at year end
XI-1 Total revenue$323,158
XI-2 Total expenses$318,784
XI-3 Revenue less expenses$4,374
XI-4 Net assets at start of year$166,604
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$170,978

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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