Indiana Retired Teachers Association Foundation Inc
- Assets
- $576.9k
- Revenue
- $105.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Indianapolis, IN
- Founding
- 12/1977
- Data as of
- 06/2022
- EIN
- 31-0920575
Organization Overview
Indiana Retired Teachers Association Foundation Inc is located in Indianapolis, IN. The organization was established in 1977. According to its NTEE Classification (P81) the organization is classified as: Senior Centers, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indiana Retired Teachers Association Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Indiana Retired Teachers Association Foundation Inc generated $105.8k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 18.4% each year . All expenses for the organization totaled $57.5k during the year ending 06/2022. While expenses have increased by 4.8% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
AS A PARTNER OF THE INDIANA RETIRED TEACHERS ASSOCIATION ("IRTA"), OUR FOUNDATION PROMOTES THE WELFARE OF RETIRED TEACHERS, SUPPORTS THOSE WHO ARE CURRENTLY TEACHING AND ENCOURAGES PEOPLE TO ENTER THE PROFESSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT OUR MISSION, THE IRTA FOUNDATION SPONSORS:SCHOLARSHIPS: COLLEGE SOPHOMORES AND JUNIORS WHO ARE EDUCATION MAJORS WITH SPONSORSHIP OF AN ACTIVE IRTA MEMBER MAY APPLY IN THE SPRING. ONE SCHOLARSHIP IN EACH OF THE TEN GEOGRAPHIC AREAS OF THE IRTA WILL BE AWARDED ANNUALLY.ACTIVE TEACHER GRANTS: PUBLIC SCHOOL EDUCATORS (PRE-K THROUGH 12) MAY APPLY SO THAT THEIR STUDENTS WILL HAVE THE MEANS TO PARTICIPATE IN SPECIAL PROJECTS. APPLICATIONS ARE DUE IN THE FALL, AND A MINIMUM OF ONE GRANT IN EACH OF THE TEN GEOGRAPHIC AREAS WILL BE AWARDED ANNUALLY.A HAND UP: IRTA MEMBERS WHO FACE AN IMMEDIATE, SHORT TERM FINANCIAL NEED MAY APPLY FOR UP TO $1,000. THIS GRANT REQUEST MAY BE MADE AT ANY TIME DURING THE YEAR, AS A NEED ARISES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Penman Ex-Officio | Trustee | 2 | $57,560 |
Jeffrey Zook President | OfficerTrustee | 1 | $0 |
Judy Hostetler Vice President | OfficerTrustee | 1 | $0 |
David Parker Secretary | OfficerTrustee | 1 | $0 |
Ellen Mulford Treasurer | OfficerTrustee | 1 | $0 |
Paula Dyer Irta President, Ex-Officio | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $38,290 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $38,290 |
| Total Program Service Revenue | $0 |
| Investment income | $50,165 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,324 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $105,784 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $30,235 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,202 |
| Compensation of current officers, directors, key employees. | $84 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,420 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,631 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,253 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $57,470 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,226 |
| Savings and temporary cash investments | $5 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $553,206 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,426 |
| Total assets | $576,863 |
| Accounts payable and accrued expenses | $16,000 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $16,000 |
| Net assets without donor restrictions | $271,580 |
| Net assets with donor restrictions | $289,283 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $576,863 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Indiana Retired Teachers Association Foundation Inc has recieved totaling $190.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $190 |
Endowment Analysis
| Beg. Balance | $548,998 |
| Earnings | -$80,375 |
| Net Contributions | $22,488 |
| Ending Balance | $491,111 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Central Missouri Area Agency On Aging Columbia, MO | $2,065,141 | $9,894,401 |
Northwestern Illinois Area Agency On Aging Rockford, IL | $1,728,698 | $8,905,917 |
East Central Illinois Area Agency On Aging Inc Bloomington, IL | $4,166,085 | $8,843,240 |
Aging And Community Services Of South Central Indiana Inc Columbus, IN | $2,562,772 | $8,836,932 |
Community Nutrition Network And Senior Services Association North Riverside, IL | $1,942,321 | $8,150,796 |
Area Five Agency On Aging & Community Services Logansport, IN | $5,632,774 | $8,306,706 |
North Shore Senior Center Northfield, IL | $8,808,686 | $7,733,028 |
Interfaith Older Adult Programs Inc Milwaukee, WI | $1,903,489 | $6,806,853 |
Agesmart Community Resources Ofallon, IL | $2,635,530 | $7,036,315 |
The Oasis Institute Saint Louis, MO | $2,746,120 | $6,700,813 |
District Iii Area Agency On Aging Warrensburg, MO | $6,617,679 | $7,278,364 |
Lifespan Resources Inc New Albany, IN | $8,415,807 | $7,845,387 |