Illinois Retired Teachers Association Foundation Inc is located in Springfield, IL. The organization was established in 1986. According to its NTEE Classification (Y99) the organization is classified as: Mutual & Membership Benefit N.E.C., under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois 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 12/2022, Illinois Retired Teachers Association Foundation Inc generated $891.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $522.5k 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
SERVING THE NEEDS OF PEOPLE THROUGH LEADERSHIP DEVELOPMENT, GROWTH IN SELF, AND SERVICE TO ALL MANKIND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE IRTA FOUNDATION ASSISTS RETIRED EDUCATORS WHO STRUGGLE FINANCIALLY, AWARDS SCHOLARSHIPS TO COLLEGE STUDENTS MAJORING IN EDUCATION, GIVES GRANTS TO CLASSROOM TEACHERS FOR SPECIAL PROJECTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
John Flaherty Past Chair | OfficerTrustee | 1 | $0 |
Don Ostrom Treasurer | OfficerTrustee | 1 | $0 |
Doris Heaton Secretary | OfficerTrustee | 1 | $0 |
William Funkhouser Chair | OfficerTrustee | 1 | $0 |
Lanny Smith Vice Chair | OfficerTrustee | 1 | $0 |
James Bachman Executive Director | Officer | 1 | $0 |
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 | $748,292 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $748,292 |
Total Program Service Revenue | $0 |
Investment income | $24,230 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $133,880 |
Net Gain/Loss on Asset Sales | -$25,962 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $891,648 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $111,944 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $766 |
Fees for services: Accounting | $9,690 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $2,520 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $39,122 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $3,240 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $1,312 |
Interest | $16,460 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $58,714 |
Insurance | $21,798 |
All other expenses | $0 |
Total functional expenses | $522,469 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $538,027 |
Savings and temporary cash investments | $0 |
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 | $1,649,925 |
Investments—publicly traded securities | $0 |
Investments—other securities | $627,587 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $2,815,539 |
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 | $400,258 |
Unsecured mortgages and notes payable | $100,000 |
Other liabilities | $0 |
Total liabilities | $500,258 |
Net assets without donor restrictions | $1,854,558 |
Net assets with donor restrictions | $460,723 |
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 | $2,815,539 |
Over the last fiscal year, we have identified 1 grants that Illinois Retired Teachers Association Foundation Inc has recieved totaling $199.
Awarding Organization | Amount |
---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $199 |
Beg. Balance | $352,499 |
Earnings | $4,818 |
Grants | $9,355 |
Ending Balance | $347,962 |
Organization Name | Assets | Revenue |
---|---|---|
Commonwealth Edison Mutual Benefit Assoc Chicago, IL | $583,877 | $11,695,245 |
Ups Pilots Mutual Aid Plan Louisville, KY | $8,595,156 | $5,916,762 |
National Association Of State Chief Information Officers Inc Lexington, KY | $4,197,004 | $5,321,731 |
Stp Nuclear Operating Company Veba Chicago, IL | $7,483,358 | $762,399 |
Alfa International Global Legal Network Inc Chicago, IL | $4,058,175 | $2,319,980 |
Chicago Women In Trades Chicago, IL | $1,844,226 | $1,564,656 |
Managing Partners Association Of The Nw Mutual Financial Network Milwaukee, WI | $542,015 | $1,286,082 |
Johnson Mutual Benefit Association Racine, WI | $1,414,067 | $586,399 |
Illinois Retired Teachers Association Foundation Inc Springfield, IL | $2,815,539 | $891,648 |
Voiture Nationale La Societe Des 40 Hommes Et 8 Chevaux Indianapolis, IN | $1,618,722 | $634,814 |
Adel Manor Inc Adel, IA | $1,231,394 | $665,891 |
Iron Workers Local 392 Vacation Fund East St Louis, IL | $465,953 | $475,900 |