General Liability Defense Ic

Burlington, VTUnknown exempt organizationSince 2020EIN 85-1472543

General liability defense, ic (general liability) is a public benefit corporation and incorporated protected cell of a sponsored captive insurance company organized in accordance with the vermont nonprofit corporation act and chapter 141 of title 8 of the vermont statutes annotated. General liability is organized and operated as a supporting organization described in internal revenue code section 509(a)(3) to provide services and resources for the benefit of, to perform functions of, and to carry out the purposes of, the university of southern california (USC) and usc's tax-exempt affiliates, so long as USC and such affiliates are described in paragraphs (1) or (2) of section 509(a). Specifically, general liability's sole planned activity is to facilitate self-insurance with respect to certain casualty exposures of USC and usc's tax-exempt affiliates.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
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 4
filings with a surplus
Average deficit $180K a year · 1129% of revenue · last 4 filings
Concern: a surplus in 0 of the last 4 filings.
Pt I · Ln 19 · 4 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
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
0
of 6 voting members
Concern: none of 6 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$49K
-23% vs prior year
Spent
$6K
To programs
100%
Net assets
$0
By yearFY2020–FY2024
Revenue
$49K
FY2024▼ -23%
Revenue by fiscal year
FY2020$0
FY2021$0
FY2022$0
FY2023$0
FY2024$64K
FY2024$49K
Expenses
$6K
FY2024▼ -96%
Expenses by fiscal year
FY2020Not on file
FY2021$273K
FY2022$214K
FY2023$149K
FY2024$148K
FY2024$6K
Net assets
$0
FY2024▼ -100%
Net assets by fiscal year
FY2020$0
FY2021$1.3M
FY2022$1.1M
FY2023$909K
FY2024$825K
FY2024$0

From the FY2024 Form 990 · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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% · $6K

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

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Treasurer (as of 4/28/25)/Dir.
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer (until 04/28/2025)
$0Pt VII · Sec A
President/Director
$0Pt VII · Sec A
See General Liability Defense Ic 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

General Liability Defense Ic is a nonprofit organization based in Burlington, VT, formed in 2020.

Provided by the organization

This section is blank until General Liability Defense Ic claims this page.

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1 program service account for $6K of program spending, described in the organization's own filed words · FY2024.
01

General liability defense, ic (general liability) is a public benefit corporation and incorporated protected cell of a sponsored captive insurance company organized in accordance with the vermont nonprofit corporation act and chapter 141 of title 8 of the vermont statutes annotated.

$6Kprogram expense

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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.

1The main four
Money inPt VIII
$49K
Ln 12
Investment incomeLn 3$49K
Money outPt IX
$6K
Ln 25
Programscol B$6K
Owns and owesPt X
$0
net assets · Ln 32
LiabilitiesLn 26$0
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$49K
Gains on assetsLn 7$0
Total revenueLn 12$49K
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
LiabilitiesLn 26$0
Net assetsLn 32$0
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 FY24End FY24
Cash and savingsLn 1–2$2.3M$0
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$2.5M$0
LiabilitiesLn 26$1.6M$0
Net assetsLn 32$825K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$4K$4K
Legal feesLn 11b$225$225
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$2K$2K$0$0
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
Total functional expensesLn 25$6K$6K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $64K$148K−$84K$825K 990 PDF
FY2023 $0$149K−$149K$909K 990 PDF
FY2022 $0$214K−$214K$1.1M 990 PDF
FY2021 $0$273K−$273K$1.3M 990 PDF
FY2020 $0$0 990 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 (4 parts)
Part VIII · Statement of revenue $49,334 across 7 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-3 Investment incomeExcluded from tax $49,334$49,334
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueUnrelated business $0 · Excluded from tax $49,334$49,334
Part IX · Statement of functional expenses $5,850 across 29 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management feesPrograms $3,750$3,750
IX-11b Legal feesPrograms $225$225
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $1,875 · Management $0 · Fundraising $0$1,875
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-25 Total functional expensesPrograms $5,850 · Management $0 · Fundraising $0$5,850
Part X · Balance sheet $0 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $2,269,450$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $200,000$0
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $2,469,450$0
X-17 Accounts payable and accrued expensesStart of year $68,756$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $1,575,423$0
X-26 Total liabilitiesStart of year $1,644,179$0
X-32 Total net assets or fund balancesStart of year $825,271$0
X-33 Total liabilities and net assetsStart of year $2,469,450$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$49,334
XI-2 Total expenses$5,850
XI-3 Revenue less expenses$43,484
XI-4 Net assets at start of year$825,271
XI-9 Other changes in net assets−$868,755
XI-10 Net assets at end of year$0

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

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