Illinois Retired Teachers Association Inc
- Assets
- $3.9m
- Revenue
- $1.4m
- Investments
- $3.0m
- Employees
- 7
- Location
- Springfield, IL
- Founding
- 09/1966
- Data as of
- 12/2022
- EIN
- 37-0892878
Organization Overview
Illinois Retired Teachers Association Inc is located in Springfield, IL. The organization was established in 1966. According to its NTEE Classification (Y33) the organization is classified as: Teachers Retirement Fund Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2022, Illinois Retired Teachers Association Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois Retired Teachers Association Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Illinois Retired Teachers Association Inc generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2022. 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
TO PROMOTE THE ECONOMIC, SOCIAL AND PROFESSIONAL STATUS OF RETIRED TEACHERS AND THE EXCHANGE OF
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT TO LOCAL CHAPTERS OF RETIRED TEACHERS ORGANIZATIONS THROUGH PUBLICATIONS, COUNSELING ON RIGHTS AND BENEFITS AND PROGRAM ASSISTANCE. CURRENTLY SERVING APPROXIMATELY 38,000 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Bachman Executive Director | Officer | 37.5 | $186,025 |
Erica Pinkley Comptroller | Officer | 37.5 | $79,099 |
John Flaherty Past President | OfficerTrustee | 1 | $0 |
William Funkhouser President | OfficerTrustee | 1 | $0 |
Doris Heaton Secretary | OfficerTrustee | 1 | $0 |
Donnie Ostrom Treasurer/committee Chair | OfficerTrustee | 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 | $80,505 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $80,505 |
| Total Program Service Revenue | $980,307 |
| Investment income | $103,578 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $159,960 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,829 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,353,048 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $265,124 |
| Compensation of current officers, directors, key employees. | $79,537 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $348,601 |
| Pension plan accruals and contributions | $55,185 |
| Other employee benefits | $78,323 |
| Payroll taxes | $50,803 |
| Fees for services: Management | $399 |
| Fees for services: Legal | $148,805 |
| Fees for services: Accounting | $9,495 |
| Fees for services: Lobbying | $68,609 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,884 |
| Fees for services: Other | $12,313 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $103,909 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,114 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,609 |
| Insurance | $0 |
| All other expenses | $34,950 |
| Total functional expenses | $1,532,162 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $702,372 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $100,000 |
| 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 | $761 |
| Net Land, buildings, and equipment | $30,035 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,041,589 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,874,757 |
| Accounts payable and accrued expenses | $0 |
| 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 | $1,348 |
| Total liabilities | $1,348 |
| Net assets without donor restrictions | $3,778,110 |
| Net assets with donor restrictions | $95,299 |
| 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 | $3,874,757 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Illinois Retired Teachers Association Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Morgan Hearst Charitable Foundation Austin, TX PURPOSE: EDUCATION | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Illinois Retired Teachers Association Inc Springfield, IL | $3,874,757 | $1,353,048 |
Retired Teachers Association Of Chicago Chicago, IL | $9,459,643 | $378,075 |
Shoals Community School Corporation Veba Trust Shoals, IN | $530,090 | $18,693 |
Nellie R Sherwood Trust Cedar Rapids, IA | $147,967 | $11,925 |
Tr 3500 Maple Corp Chicago, IL | $114,838,946 | $673,954 |