Civic Intelligence

Riverhead Central Faculty Association Benefit Trust Fund

990 • Fiscal year 2023 • EIN 11-3614230

Jul 01, 2022 to Jun 30, 2023 • Filed on Mar 18, 2024

Organization ProfileN/A
223 Roanoke AveRiverhead, NY 11901

(631) 727-2262

Siviq Scores

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

Liabilities / Assets

70th percentile

0.07x

Higher debt load relative to assets than 70% of similar nonprofits.

2023 filings • NTEE Y • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

68th percentile

0.13x

Higher debt load relative to revenue than 68% of similar nonprofits.

2023 filings • NTEE Y • $1M-$5M nonprofits • Source year 2023

Net Margin

53rd percentile

16%

Higher net margin than 53% of similar nonprofits.

2023 filings • NTEE Y • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

80th percentile

$34,857

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 4.0% of source-year revenue.

2023 filings • NTEE Y • $1M-$5M nonprofits • Source year 2023

Asset Growth

57th percentile

6.6%

Faster asset growth than 57% of similar nonprofits.

2023 filings • NTEE Y • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

60th percentile

9.1%

Faster revenue growth than 60% of similar nonprofits.

2023 filings • NTEE Y • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$1,566,973

Up $97,649 (+6.6%) from 2022

Net Assets

Up

$1,454,941

Up $104,295 (+7.7%) from 2022

Liabilities

Down

$112,032

Down $6,646 (-5.6%) from 2022

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin53rd percentile

Revenue

Up

$881,139

Up $73,823 (+9.1%) from 2022

Expenses

Up

$739,830

Up $65,901 (+9.8%) from 2022

Net Income

Up

$141,309

Up $7,922 (+5.9%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth57th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,401,966Liabilities 2011: $0Net Assets 2011: $1,401,9662011Assets 2012: $1,309,106Liabilities 2012: $0Net Assets 2012: $1,309,1062012Assets 2013: $1,385,239Liabilities 2013: $0Net Assets 2013: $1,385,2392013Assets 2014: $1,356,497Liabilities 2014: $0Net Assets 2014: $1,356,4972014Assets 2015: $1,523,500Liabilities 2015: $96,580Net Assets 2015: $1,426,9202015Assets 2016: $1,433,443Liabilities 2016: $80,868Net Assets 2016: $1,352,5752016Assets 2017: $1,412,032Liabilities 2017: $91,451Net Assets 2017: $1,320,5812017Assets 2018: $1,336,107Liabilities 2018: $89,191Net Assets 2018: $1,246,9162018Assets 2019: $1,300,013Liabilities 2019: $90,067Net Assets 2019: $1,209,9462019Assets 2020: $1,306,827Liabilities 2020: $71,793Net Assets 2020: $1,235,0342020Assets 2021: $1,438,316Liabilities 2021: $110,104Net Assets 2021: $1,328,2122021Assets 2022: $1,469,324Liabilities 2022: $118,678Net Assets 2022: $1,350,6462022Assets 2023: $1,566,973Liabilities 2023: $112,032Net Assets 2023: $1,454,9412023Assets 2024: $1,722,481Liabilities 2024: $103,676Net Assets 2024: $1,618,8052024

Highlighted filing

2023

Assets$1,566,973
Liabilities$112,032
Net Assets$1,454,941
Open 2023 Filing

Operations Trend

Revenue Growth60th percentile

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

$1.0M$500K$0-$500KExpenses 2011: $667,9532011Expenses 2012: $642,8332012Revenue 2013: $720,454Expenses 2013: $644,231Net Income 2013: $76,2232013Revenue 2014: $548,069Expenses 2014: $576,901Net Income 2014: -$28,8322014Revenue 2015: $613,014Expenses 2015: $643,377Net Income 2015: -$30,3632015Revenue 2016: $643,815Expenses 2016: $725,039Net Income 2016: -$81,2242016Revenue 2017: $675,530Expenses 2017: $720,970Net Income 2017: -$45,4402017Revenue 2018: $691,125Expenses 2018: $775,688Net Income 2018: -$84,5632018Revenue 2019: $731,683Expenses 2019: $797,962Net Income 2019: -$66,2792019Revenue 2020: $671,083Expenses 2020: $663,108Net Income 2020: $7,9752020Revenue 2021: $725,457Expenses 2021: $692,549Net Income 2021: $32,9082021Revenue 2022: $807,316Expenses 2022: $673,929Net Income 2022: $133,3872022Revenue 2023: $881,139Expenses 2023: $739,830Net Income 2023: $141,3092023Revenue 2024: $966,189Expenses 2024: $863,931Net Income 2024: $102,2582024

Highlighted filing

2023

Revenue$881,139
Expenses$739,830
Net Income$141,309
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Mar 18, 2024
Return Version
2022v5.0
Gross Receipts
$881,139
Mission and Program Overview

Mission

To research, provide and administer benefits to the members of the riverhead central faculty association.

To provide benefits to the members of the riverhead central faculty association.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,184,234$1,216,795▲ $32,561
Cash and Non-Interest-Bearing Accounts$205,303$312,546▲ $107,243
Savings and Temporary Cash Investments$14,416$9,255▼ $5,161
Land, Buildings, and Equipment, Net$2,113$1,221▼ $892
Total Assets$1,469,324$1,566,973▲ $97,649
Other Assets Total$63,258$27,156▼ $36,102
Liabilities
Other Liabilities$91,876$81,376▼ $10,500
Accounts Payable and Accrued Expenses$26,802$30,656▲ $3,854
Total Liabilities$118,678$112,032▼ $6,646
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,350,646$1,454,941▲ $104,295
Total Net Assets Fund Balance$1,350,646$1,454,941▲ $104,295
Total Liabilities and Net Assets / Fund Balance$1,469,324$1,566,973▲ $97,649

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,221$2,007$3,228
Equipment-$2,489$2,489
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Gregory WallaceChairpersonPT$12,000$22,857$34,857
Robert BrandiTreasurerPT$10,000$6,307$16,307
Jenn SimoesTrustee-$2,750$9,857$12,607
Chris ButterfieldTrustee-$2,750$8,057$10,807
Marisa DeserioTrustee-$2,875$1,200$4,075
Alyson GrossmanTrustee in T-$1,000-$1,000
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$856,965
Investment Income
$24,174
Other Revenue
$0
Change in Net Assets
$141,309

Audited Revenue Reconciliation

Revenue per Audited Statements
$881,139
Revenue Not Reported on Form 990
$10,133
Total Revenue per Audited Statements
$891,272
Total Revenue per Form 990
$881,139
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$73,633
Salaries, Compensation, and Employee Benefits$31,375
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$634,822
Current Officers, Directors, Trustees, and Key Employees---$31,375
Occupancy---$15,981
Fees for Services Accounting---$10,375
Fees for Service Investment Mgmnt Fees---$10,091
Fees for Services Legal---$8,000
Insurance---$1,655
Depreciation Depletion---$892
Other Expenses---$812
All Other Expenses---$539
Office Expenses---$312
Total Functional Expenses$0$0$0$739,830

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$739,830
Total Expenses per Audited Statements$739,830
Total Expenses per Form 990$739,830
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
Dental Claims Payable$61,331
Deferred Revenue - Retiree Life Ins.$14,377
Deferred Revenue - Ltd$5,668
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The organization members consists of teachers of the riverhead central school district.”

Form 990, Page 6, Part VI, Line 11B

“Form 990 is provided to the board of trustees for review prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“The conflict of interest policy is reviewed at the board meetings.”

Form 990, Page 6, Part VI, Line 15A

“Counsel presents comparative stipends in the geographic region of similarly situated public sector benefit funds and the fund auditor's analysis of what can be financially sustained by the fund.”

Form 990, Page 6, Part VI, Line 15B

“Counsel presents comparative stipends in the geographic region of similarly situated public sector benefit funds and the fund auditor's analysis of what can be financially sustained by the fund.”

Form 990, Page 6, Part VI, Line 18

“The form 990 is available to be downloaded at https://apps.irs.gov/app/eos/.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents and financial statements are available to the organization's members upon request.”

Filing and Contact Details

Filer

Filer Name
Riverhead Central Faculty Assoc
EIN
11-3614230
Phone
6317272262
Address
223 ROANOKE AVE, RIVERHEAD, NY 11901

Signing Officer

Name
Gregory Wallace
Title
Chairperson
Phone
6317272262
Signed
2024-03-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gregory Wallace
Formed
2001
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
GIBISER & GIBISER CPA'S PC
Address
4155 VETERANS MEMORIAL HWY STE 14, RONKONKOMA, NY 11779-6063
Preparer
Steven Gibiser CPA
Phone
6312856290
Raw XML Appendix353 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION MEMBERS CONSISTS OF TEACHERS OF THE RIVERHEAD CENTRAL SCHOOL DISTRICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS PROVIDED TO THE BOARD OF TRUSTEES FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY IS REVIEWED AT THE BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COUNSEL PRESENTS COMPARATIVE STIPENDS IN THE GEOGRAPHIC REGION OF SIMILARLY SITUATED PUBLIC SECTOR BENEFIT FUNDS AND THE FUND AUDITOR'S ANALYSIS OF WHAT CAN BE FINANCIALLY SUSTAINED BY THE FUND.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COUNSEL PRESENTS COMPARATIVE STIPENDS IN THE GEOGRAPHIC REGION OF SIMILARLY SITUATED PUBLIC SECTOR BENEFIT FUNDS AND THE FUND AUDITOR'S ANALYSIS OF WHAT CAN BE FINANCIALLY SUSTAINED BY THE FUND.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FORM 990 IS AVAILABLE TO BE DOWNLOADED AT HTTPS://APPS.IRS.GOV/APP/EOS/.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE ORGANIZATION'S MEMBERS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,566,973
Liabilities
$112,032
Net assets
$1,454,941
Revenue
$881,139
Expenses
$739,830
Net income
$141,309
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.72$0.10$1.62$0.97$0.86$0.10
2023Detailed filing. Detailed filing data is available for this year.$1.57$0.11$1.45$0.88$0.74$0.14
2022Detailed filing. Detailed filing data is available for this year.$1.47$0.12$1.35$0.81$0.67$0.13
2021Detailed filing. Detailed filing data is available for this year.$1.44$0.11$1.33$0.73$0.69$0.03
2020Detailed filing. Detailed filing data is available for this year.$1.31$0.07$1.24$0.67$0.66$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.30$0.09$1.21$0.73$0.80$0.07
2018Detailed filing. Detailed filing data is available for this year.$1.34$0.09$1.25$0.69$0.78$0.08
2017Detailed filing. Detailed filing data is available for this year.$1.41$0.09$1.32$0.68$0.72$0.05
2016Detailed filing. Detailed filing data is available for this year.$1.43$0.08$1.35$0.64$0.73$0.08
2015Detailed filing. Detailed filing data is available for this year.$1.52$0.10$1.43$0.61$0.64$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.36$0.00$1.36$0.55$0.58$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.39$0.00$1.39$0.72$0.64$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.31$0.00$1.31$0.64
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.40$0.00$1.40$0.67