Illinois Retired Teachers Association Inc
- Assets
- $4.0m
- Revenue
- $1.5m
- Investments
- $3.1m
- Employees
- 8
- Location
- Springfield, IL
- Founding
- 09/1966
- Data as of
- 12/2023
- 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 12/2023, Illinois Retired Teachers Association Inc employed 8 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 12/2023, Illinois Retired Teachers Association Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $1.4m during the year ending 12/2023. While expenses have increased by 1.4% per year over the past 9 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
2023
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 |
|---|---|---|---|
John Flaherty Area Representative | Trustee | 1 | $0 |
William Funkhouser Past President | OfficerTrustee | 1 | $0 |
Doris Heaton Area Representative | Trustee | 1 | $0 |
Donnie Ostrom Treasurer/committee Chair | OfficerTrustee | 1 | $0 |
Roger Hampton Area Representative | Trustee | 1 | $0 |
Jo Anne Nelson Area Representative | 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 | $77,932 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $77,932 |
| Total Program Service Revenue | $1,084,757 |
| Investment income | $123,902 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $135,000 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $55,974 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,498,740 |
| 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. | $328,057 |
| Compensation of current officers, directors, key employees. | $98,417 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $355,367 |
| Pension plan accruals and contributions | $57,732 |
| Other employee benefits | $68,772 |
| Payroll taxes | $57,030 |
| Fees for services: Management | $664 |
| Fees for services: Legal | $32,282 |
| Fees for services: Accounting | $10,906 |
| Fees for services: Lobbying | $67,762 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,111 |
| Fees for services: Other | $29,625 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $135,272 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $81,359 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,067 |
| Insurance | $0 |
| All other expenses | $21,030 |
| Total functional expenses | $1,358,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $779,079 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $88,596 |
| 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 | $1,593 |
| Net Land, buildings, and equipment | $15,487 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,131,439 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,016,194 |
| Accounts payable and accrued expenses | $7,100 |
| 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 | -$5,055 |
| Total liabilities | $2,045 |
| Net assets without donor restrictions | $3,794,507 |
| Net assets with donor restrictions | $219,642 |
| 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 | $4,016,194 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Illinois Retired Teachers Association Inc Springfield, IL | $4,016,194 | $1,498,740 |
Retired Teachers Association Of Chicago Chicago, IL | $8,979,599 | $885,033 |
Shoals Community School Corporation Veba Trust Shoals, IN | $527,508 | $78,739 |
Nellie R Sherwood Trust Cedar Rapids, IA | $129,372 | $4,054 |
Tr 3500 Maple Corp Chicago, IL | $114,838,946 | $673,954 |