Civic Intelligence

Boston Public School Teachers Retirement Fund Association

990 • Fiscal year 2017 • EIN 04-2080791

Sep 01, 2016 to Aug 31, 2017 • Filed on Nov 16, 2017

Organization ProfileN/A
PO Box 6246Boston, MA 02114

(617) 634-4165

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

26th percentile

0.00x

Higher debt load relative to assets than 26% of similar nonprofits.

2017 filings • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

27th percentile

0.00x

Higher debt load relative to revenue than 27% of similar nonprofits.

2017 filings • $1M-$5M nonprofits • Source year 2017

Net Margin

3rd percentile

-174%

Higher net margin than 3% of similar nonprofits.

2017 filings • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

49th percentile

$20,713

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 18.0% of source-year revenue.

2017 filings • $1M-$5M nonprofits • Source year 2017

Asset Growth

13th percentile

-7.5%

Faster asset growth than 13% of similar nonprofits.

2017 filings • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

73rd percentile

22%

Faster revenue growth than 73% of similar nonprofits.

2017 filings • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets26th percentile

Assets

Down

$2,469,912

Down $200,048 (-7.5%) from 2016

Net Assets

Down

$2,469,739

Down $200,048 (-7.5%) from 2016

Liabilities

Flat

$173

Flat from 2016

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin3rd percentile

Revenue

Up

$115,203

Up $20,729 (+22%) from 2016

Expenses

Down

$315,251

Down $2,690 (-0.8%) from 2016

Net Income

Up

-$200,048

Up $23,419 (+10%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $3,942,547Liabilities 2011: $403Net Assets 2011: $3,942,1442011Assets 2012: $3,664,616Liabilities 2012: $644Net Assets 2012: $3,663,9722012Assets 2013: $3,386,600Liabilities 2013: $161Net Assets 2013: $3,386,4392013Assets 2014: $3,123,267Liabilities 2014: $161Net Assets 2014: $3,123,1062014Assets 2015: $2,893,426Liabilities 2015: $172Net Assets 2015: $2,893,2542015Assets 2016: $2,669,960Liabilities 2016: $173Net Assets 2016: $2,669,7872016Assets 2017: $2,469,912Liabilities 2017: $173Net Assets 2017: $2,469,7392017Assets 2018: $2,278,684Liabilities 2018: $173Net Assets 2018: $2,278,5112018Assets 2019: $2,113,715Liabilities 2019: $213Net Assets 2019: $2,113,5022019Assets 2020: $1,942,856Liabilities 2020: $675Net Assets 2020: $1,942,1812020Assets 2021: $1,758,420Liabilities 2021: $10,320Net Assets 2021: $1,748,1002021Assets 2022: $1,577,621Liabilities 2022: $315Net Assets 2022: $1,577,3062022Assets 2023: $1,425,569Liabilities 2023: $612Net Assets 2023: $1,424,9572023Assets 2024: $1,288,760Liabilities 2024: $1,220Net Assets 2024: $1,287,5402024

Highlighted filing

2017

Assets$2,469,912
Liabilities$173
Net Assets$2,469,739
Open 2017 Filing

Operations Trend

Revenue Growth73rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$200K$0-$200K-$400KExpenses 2011: $387,8992011Expenses 2012: $394,6412012Revenue 2013: $113,678Expenses 2013: $391,211Net Income 2013: -$277,5332013Revenue 2014: $100,436Expenses 2014: $363,769Net Income 2014: -$263,3332014Revenue 2015: $94,222Expenses 2015: $324,074Net Income 2015: -$229,8522015Revenue 2016: $94,474Expenses 2016: $317,941Net Income 2016: -$223,4672016Revenue 2017: $115,203Expenses 2017: $315,251Net Income 2017: -$200,0482017Revenue 2018: $114,853Expenses 2018: $306,081Net Income 2018: -$191,2282018Revenue 2019: $136,946Expenses 2019: $301,955Net Income 2019: -$165,0092019Revenue 2020: $119,222Expenses 2020: $290,543Net Income 2020: -$171,3212020Revenue 2021: $90,451Expenses 2021: $284,532Net Income 2021: -$194,0812021Revenue 2022: $90,414Expenses 2022: $261,208Net Income 2022: -$170,7942022Revenue 2023: $133,406Expenses 2023: $285,755Net Income 2023: -$152,3492023Revenue 2024: $145,473Expenses 2024: $282,890Net Income 2024: -$137,4172024

Highlighted filing

2017

Revenue$115,203
Expenses$315,251
Net Income-$200,048
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2016 to Aug 31, 2017
Signed
Nov 16, 2017
Return Version
2016v3.0
Gross Receipts
$2,640,125
Mission and Program Overview

Mission

See attached statement on schedule o.an act to provide for a public school teachers retirement fund in the city of boston. The fund shall consist of invested permanent and general funds. The general fund will be drawn upon for the purposes of this act: to pay out annuity distributions to any qualifying retired boston school teachers.

See attached statement on schedule o.an act to provide for a public school teachers retirement fund in the city of boston. The fund shall consist of invested permanent and general funds. The general fund will be drawn upon for the purposes of this act: to pay out retirement annuity distributions to any qualifying retired boston school teachers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,634,850$2,345,455▼ $289,395
Cash and Non-Interest-Bearing Accounts$35,110$124,457▲ $89,347
Total Assets$2,669,960$2,469,912▼ $200,048
Liabilities
Other Liabilities$173$173→ $0
Total Liabilities$173$173→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$2,669,787$2,469,739▼ $200,048
Total Net Assets Fund Balance$2,669,787$2,469,739▼ $200,048
Total Liabilities and Net Assets / Fund Balance$2,669,960$2,469,912▼ $200,048
Compensation and Service Providers
Top Officer Pay49th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Maureen GageSecretaryPT$20,713-$20,713
Stephen KellyPresident, Trustee--$400$400
Gerard CrimliskTrustee--$200$200
Karen CedroneTrustee--$200$200
Kathleen CarrollTrustee--$200$200
Monique BynoeTrustee--$200$200
Peter BalcanoffTrustee--$200$200
Revenue and Support

Revenue Composition

Contributions and Grants
$104,130
Program Service Revenue
$0
Investment Income
$11,073
Other Revenue
$0
Change in Net Assets
$-200,048
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$23,899
Other Expenses$15,687
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members$275,665--$275,665
Current Officers, Directors, Trustees, and Key Employees-$22,113-$22,113
Fees for Services Accounting-$13,995-$13,995
Payroll Taxes-$1,786-$1,786
Office Expenses-$780-$780
Other Expenses$467$200-$200
Total Functional Expenses$276,132$39,119$0$315,251
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Tax Withholdings$173
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 6

“The organization has members.”

Form 990, Part VI, Section A, line 7A

“The organization has members who elect the board of trustees and the officers at the annual meeting. All active, permanent teachers who contribute to the fund are allowed to vote. Non-active, retired teachers are not allowed to vote.”

Form 990, Part VI, Section B, line 11B

“Describe the process used by the organization to review this form 990: after the 990 is prepared by the cpa firm, the secretary presents the financial statements and form 990 to the governing body for explanation, review, and questions before filing.”

Form 990, Part VI, Section C, line 19

“The financial statements and form 990 are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Boston Public School Teachers Retirement
EIN
04-2080791
Phone
6176344165
Address
PO BOX 6246, BOSTON, MA 02114
Doing Business As
THE BOSTON TEACHERS' RETIREMENT FUND ASSOCIATION

Signing Officer

Name
Maureen Gage
Title
Secretary
Phone
6179577186
Signed
2017-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Maureen Gage
Formed
1900
Legal Domicile
Ma
Voting Board Members
6
Independent Board Members
0
Employees
1
Volunteers
0

Preparer

Firm
Pilleri Romano Pc
Address
ZERO GOVERNORS AVENUE SUITE 29, MEDFORD, MA 02155
Phone
7813504833
Supplemental Narrative

Financial Statement Notes

Part X, Line 2:

“FORM 990, SCHEDULE D, PART X, LINE 2, FOOTNOTE REG FIN 48: During the year ended August 31, 2017, the Fund followed Financial Accounting Standards Board ("FASB") Interpretation No. 48 "Accounting Uncertainty in Income Taxes - an interpretation of FASB Statement No. 109 ("FIN 48")". Tax regulations permit the audit of tax or information returns for three years from the filing date of such returns. Therefore, the fiscal years ended August 31, 2017, 2016, and 2015 were still open years as of the date of issuance of the accompanying financial statements.”

Raw XML Appendix314 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FORM 990, SCHEDULE D, PART X, LINE 2, FOOTNOTE REG FIN 48: During the year ended August 31, 2017, the Fund followed Financial Accounting Standards Board ("FASB") Interpretation No. 48 "Accounting Uncertainty in Income Taxes - an interpretation of FASB Statement No. 109 ("FIN 48")". Tax regulations permit the audit of tax or information returns for three years from the filing date of such returns. Therefore, the fiscal years ended August 31, 2017, 2016, and 2015 were still open years as of the date of issuance of the accompanying financial statements.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS MEMBERS WHO ELECT THE BOARD OF TRUSTEES AND THE OFFICERS AT THE ANNUAL MEETING. ALL ACTIVE, PERMANENT TEACHERS WHO CONTRIBUTE TO THE FUND ARE ALLOWED TO VOTE. NON-ACTIVE, RETIRED TEACHERS ARE NOT ALLOWED TO VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DESCRIBE THE PROCESS USED BY THE ORGANIZATION TO REVIEW THIS FORM 990: AFTER THE 990 IS PREPARED BY THE CPA FIRM, THE SECRETARY PRESENTS THE FINANCIAL STATEMENTS AND FORM 990 TO THE GOVERNING BODY FOR EXPLANATION, REVIEW, AND QUESTIONS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FINANCIAL STATEMENTS AND FORM 990 ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7a
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02469739
IRS990/TotalOtherCompensationAmt01400
IRS990/TotalProgramServiceExpensesAmt0276132
IRS990/TotalReportableCompFromOrgAmt020713
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt011073
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0115203
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02669960
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02469912
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt02669787
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02469739
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02 MILTON STREET
IRS990/USAddress/CityNm0MALDEN
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002148
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MAUREEN GAGE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum06179577186
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BOSTON PUBLIC SCHOOL TEACHERS RETIREMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FUND ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0BOST
ReturnHeader/Filer/EIN0042080791
ReturnHeader/Filer/PhoneNum06176344165
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 6246
ReturnHeader/Filer/USAddress/CityNm0BOSTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd002114
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId095407E044F52F16960FC2EC1BB792A854324FD59
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId095407E044F52F16960FC2EC1BB792A854324FD59
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0173.9.63.102
ReturnHeader/FilingSecurityInformation/IPDt02017-11-16
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm013:15:48
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0264145281
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PILLERI ROMANO PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0ZERO GOVERNORS AVENUE SUITE 29
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MEDFORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002155
ReturnHeader/PreparerPersonGrp/PhoneNum07813504833
ReturnHeader/ReturnTs02018-01-10T12:00:22-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-09-01
ReturnHeader/TaxPeriodEndDt02017-08-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,469,912
Liabilities
$173
Net assets
$2,469,739
Revenue
$115,203
Expenses
$315,251
Net income
-$200,048
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.29$0.00$1.29$0.15$0.28$0.14
2023Detailed filing. Detailed filing data is available for this year.$1.43$0.00$1.42$0.13$0.29$0.15
2022Detailed filing. Detailed filing data is available for this year.$1.58$0.00$1.58$0.09$0.26$0.17
2021Detailed filing. Detailed filing data is available for this year.$1.76$0.01$1.75$0.09$0.28$0.19
2020Detailed filing. Detailed filing data is available for this year.$1.94$0.00$1.94$0.12$0.29$0.17
2019Detailed filing. Detailed filing data is available for this year.$2.11$0.00$2.11$0.14$0.30$0.17
2018Detailed filing. Detailed filing data is available for this year.$2.28$0.00$2.28$0.11$0.31$0.19
2017Detailed filing. Detailed filing data is available for this year.$2.47$0.00$2.47$0.12$0.32$0.20
2016Detailed filing. Detailed filing data is available for this year.$2.67$0.00$2.67$0.09$0.32$0.22
2015Detailed filing. Detailed filing data is available for this year.$2.89$0.00$2.89$0.09$0.32$0.23
2014Detailed filing. Detailed filing data is available for this year.$3.12$0.00$3.12$0.10$0.36$0.26
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.39$0.00$3.39$0.11$0.39$0.28
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.66$0.00$3.66$0.39
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.94$0.00$3.94$0.39