Kingston Trust Fund
- Assets
- $35.2m
- Revenue
- $31.4m
- Investments
- $0.0
- Employees
- 2
- Location
- Kingston, NY
- Founding
- 05/1999
- Data as of
- 06/2021
- EIN
- 16-6456453
Organization Overview
Kingston Trust Fund is located in Kingston, NY. The organization was established in 1999. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. As of 06/2021, Kingston Trust Fund employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kingston Trust Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2021, Kingston Trust Fund generated $31.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $27.7m during the year ending 06/2021. While expenses have increased by 1.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE EXCELLENT HEALTH AND WELFARE BENEFITS TO ELIGIBLE MEMBERS OF THE KINGSTON TEACHERS' FEDERATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBER HEALTH INSURANCE PLAN
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hugh Spoljaric Executive Di | Officer | 60 | $197,940 |
Lauri Naccarato Chairperson | OfficerTrustee | 1 | $0 |
Eric Koch Treasurer | OfficerTrustee | 1 | $0 |
Bruce Cobb Secretary | OfficerTrustee | 1 | $0 |
Gail Diamond Trustee | Trustee | 1 | $0 |
Glenn Gallagher Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Syntonic Systems Claims Admin. | 6/29/21 | $17,525,897 |
Cherokee Benefits Group Claims Admin. | 6/29/21 | $286,462 |
Hughes And Associates Claims Admin | 6/29/21 | $106,095 |
Proact Inc Benefit Mgmt. | 6/29/21 | $5,007,400 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $30,243,525 |
| Investment income | $679,325 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,600 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,419,249 |
| 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 | $26,028,008 |
| Compensation of current officers, directors, key employees. | $372,329 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $78,269 |
| Pension plan accruals and contributions | $4,800 |
| Other employee benefits | $0 |
| Payroll taxes | $17,804 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $46,600 |
| Fees for services: Accounting | $45,586 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,039,362 |
| Advertising and promotion | $0 |
| Office expenses | $44,599 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,155 |
| 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 | $11,136 |
| Insurance | $17,168 |
| All other expenses | $4,941 |
| Total functional expenses | $27,728,757 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,598,945 |
| Savings and temporary cash investments | $1,074,438 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $184,657 |
| 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 | $34,229 |
| Net Land, buildings, and equipment | $392,951 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $24,012,314 |
| Intangible assets | $0 |
| Other assets | $907,222 |
| Total assets | $35,204,756 |
| Accounts payable and accrued expenses | $1,218,761 |
| Grants payable | $0 |
| Deferred revenue | $369,740 |
| 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 | $4,764,644 |
| Total liabilities | $6,353,145 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $28,851,611 |
| Total liabilities and net assets/fund balances | $35,204,756 |