General Liability Defense Ic FY2024 filing

Burlington, VTUnknown exempt organizationSince 2020 EIN 85-1472543Revenue $64K in FY2024

On file with the IRS100 Bank St Suite 630 · Burlington, VT

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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
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
1 of 5
filings with a surplus
Average deficit $135K a year · 598% of revenue · last 5 filings
Concern: a surplus in 1 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
185 mo
of spending, in cash
Looks good: 184.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.6M
67% of total assets
Worth a look: liabilities are 67% of assets; over 65%.
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
$64K
Spent
$148K
To programs
100%
Net assets
$825K
By yearFY2020–FY2025
Revenue
$64K
FY2024
Tap a bar for its year
Revenue by fiscal year
FY2020$0
FY2021$0
FY2022$0
FY2023$0
FY2024$64K
FY2025$49K
Expenses
$148K
FY2024▼ -1%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021$273K
FY2022$214K
FY2023$149K
FY2024$148K
FY2025$6K
Net assets
$825K
FY2024▼ -9%
Tap a bar for its year
Net assets by fiscal year
FY2020$0
FY2021$1.3M
FY2022$1.1M
FY2023$909K
FY2024$825K
FY2025$0

From the FY2024 Form 990 (year ending June 2024) · see the original

990 PDF Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

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% · $148K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
Director (as of 6/28/24)
$0Pt VII · Sec A
Director (until 6/28/24)
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer(until 4/22/24)/Dir.
$0Pt VII · Sec A
$0Pt VII · Sec A
President/Director
$0Pt VII · Sec A
Director (as of 6/28/24)
$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.

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Provided by the organization

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1 program · $148K · in their own filed words · FY2023
01

See schedule o

$148Kprogram 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.

1The main four
Money inPt VIII
$64K
Ln 12
Investment incomeLn 3$64K
Money outPt IX
$148K
Ln 25
Programscol B$148K
Owns and owesPt X
$825K
net assets · Ln 32
Cash and savingsLn 1–2$2.3M
Total assetsLn 16$2.5M
LiabilitiesLn 26$1.6M
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$64K
Gains on assetsLn 7$0
Total revenueLn 12$64K
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$2.3M
Cash and savings togetherLn 1–2$2.3M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$2.5M
LiabilitiesLn 26$1.6M
Net assetsLn 32$825K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
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$2.4M$2.3M
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$2.6M$2.5M
LiabilitiesLn 26$1.7M$1.6M
Net assetsLn 32$909K$825K
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$15K$15K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$33K$33K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$98K$98K$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$148K$148K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $49K$6K$43K$0 990 PDF
FY2024 Viewing $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 R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $63,775 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 $0$63,775
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $0$63,775
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 $149,409$147,506
I-18 Total expensesPrior year $149,409$147,506
I-19 Revenue less expensesPrior year −$149,409−$83,731
Part VI · Governance 0 of 6 board members independent, 4 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $63,775 across 7 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-3 Investment incomeExcluded from tax $63,775$63,775
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 revenueExcluded from tax $63,775$63,775
Part IX · Statement of functional expenses $147,506 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 $15,000$15,000
IX-11b Legal feesPrograms $1,673$1,673
IX-11c Accounting feesPrograms $32,550$32,550
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $98,283 · Management $0 · Fundraising $0$98,283
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 $147,506 · Management $0 · Fundraising $0$147,506
Part X · Balance sheet $2,469,450 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $2,427,137$2,269,450
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$200,000
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 $2,627,137$2,469,450
X-17 Accounts payable and accrued expensesStart of year $132,046$68,756
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 $1,586,089$1,575,423
X-26 Total liabilitiesStart of year $1,718,135$1,644,179
X-32 Total net assets or fund balancesStart of year $909,002$825,271
X-33 Total liabilities and net assetsStart of year $2,627,137$2,469,450
Part XI · Reconciliation of net assets $825,271 net assets at year end
XI-1 Total revenue$63,775
XI-2 Total expenses$147,506
XI-3 Revenue less expenses−$83,731
XI-4 Net assets at start of year$909,002
XI-10 Net assets at end of year$825,271

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

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