Civic Intelligence

Somers Faculty Association Trust Fund

990 • Fiscal year 2019 • EIN 13-2974866

Jul 01, 2018 to Jun 30, 2019 • Filed on Jan 31, 2020

Organization ProfileN/A
PO Box 5817Wallingford, CT 06492-6717

(203) 269-7741

Siviq Scores

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

Liabilities / Assets

81st percentile

0.14x

Higher debt load relative to assets than 81% of similar nonprofits.

2019 filings • 501(c)9 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

84th percentile

0.16x

Higher debt load relative to revenue than 84% of similar nonprofits.

2019 filings • 501(c)9 • $500k-$1M nonprofits • Source year 2019

Net Margin

58th percentile

7.2%

Higher net margin than 58% of similar nonprofits.

2019 filings • 501(c)9 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

74th percentile

$8,291

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

2019 filings • 501(c)9 • $500k-$1M nonprofits • Source year 2019

Asset Growth

40th percentile

0.2%

Faster asset growth than 40% of similar nonprofits.

2019 filings • 501(c)9 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

54th percentile

3.1%

Faster revenue growth than 54% of similar nonprofits.

2019 filings • 501(c)9 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$525,834

Up $970 (+0.2%) from 2018

Net Assets

Up

$453,396

Up $31,778 (+7.5%) from 2018

Liabilities

Down

$72,438

Down $30,808 (-30%) from 2018

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin58th percentile

Revenue

Up

$440,450

Up $13,063 (+3.1%) from 2018

Expenses

Up

$408,672

Up $51,434 (+14%) from 2018

Net Income

Down

$31,778

Down $38,371 (-55%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth40th percentile

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

$600K$400K$200K$0Assets 2011: $285,236Liabilities 2011: $57,836Net Assets 2011: $227,4002011Assets 2012: $293,150Liabilities 2012: $60,854Net Assets 2012: $232,2962012Assets 2013: $327,421Liabilities 2013: $53,415Net Assets 2013: $274,0062013Assets 2014: $390,832Liabilities 2014: $61,463Net Assets 2014: $329,3692014Assets 2015: $505,954Liabilities 2015: $157,506Net Assets 2015: $348,4482015Assets 2016: $476,057Liabilities 2016: $139,600Net Assets 2016: $336,4572016Assets 2017: $480,337Liabilities 2017: $128,868Net Assets 2017: $351,4692017Assets 2018: $524,864Liabilities 2018: $103,246Net Assets 2018: $421,6182018Assets 2019: $525,834Liabilities 2019: $72,438Net Assets 2019: $453,3962019Assets 2020: $547,185Liabilities 2020: $72,074Net Assets 2020: $475,1112020Assets 2021: $538,718Liabilities 2021: $88,531Net Assets 2021: $450,1872021Assets 2022: $487,639Liabilities 2022: $100,949Net Assets 2022: $386,6902022Assets 2023: $371,121Liabilities 2023: $117,527Net Assets 2023: $253,5942023Assets 2024: $301,085Liabilities 2024: $116,080Net Assets 2024: $185,0052024Assets 2025: $259,078Liabilities 2025: $70,107Net Assets 2025: $188,9712025

Highlighted filing

2019

Assets$525,834
Liabilities$72,438
Net Assets$453,396
Open 2019 Filing

Operations Trend

Revenue Growth54th percentile

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

$800K$600K$400K$200K$0-$200KExpenses 2011: $400,1672011Revenue 2012: $381,015Expenses 2012: $376,584Net Income 2012: $4,4312012Revenue 2013: $374,826Expenses 2013: $335,725Net Income 2013: $39,1012013Revenue 2014: $382,901Expenses 2014: $327,537Net Income 2014: $55,3642014Revenue 2015: $386,782Expenses 2015: $367,703Net Income 2015: $19,0792015Revenue 2016: $334,367Expenses 2016: $346,358Net Income 2016: -$11,9912016Revenue 2017: $420,337Expenses 2017: $405,325Net Income 2017: $15,0122017Revenue 2018: $427,387Expenses 2018: $357,238Net Income 2018: $70,1492018Revenue 2019: $440,450Expenses 2019: $408,672Net Income 2019: $31,7782019Revenue 2020: $452,168Expenses 2020: $430,453Net Income 2020: $21,7152020Revenue 2021: $455,532Expenses 2021: $480,456Net Income 2021: -$24,9242021Revenue 2022: $451,580Expenses 2022: $515,077Net Income 2022: -$63,4972022Revenue 2023: $469,933Expenses 2023: $603,029Net Income 2023: -$133,0962023Revenue 2024: $508,039Expenses 2024: $576,628Net Income 2024: -$68,5892024Revenue 2025: $482,116Expenses 2025: $478,150Net Income 2025: $3,9662025

Highlighted filing

2019

Revenue$440,450
Expenses$408,672
Net Income$31,778
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 31, 2020
Return Version
2018v3.1
Gross Receipts
$440,450
Mission and Program Overview

Mission

To provide dental, vision, and flex medical coverage for plan enrollees and their immediate family where applicable.

See Schedule O

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$524,864$525,834▲ $970
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$524,864$525,834▲ $970
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$103,246$72,438▼ $30,808
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$103,246$72,438▼ $30,808
Net Assets / Fund Balance
Unrestricted Net Assets$421,618$453,396▲ $31,778
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$421,618$453,396▲ $31,778
Total Liabilities and Net Assets / Fund Balance$524,864$525,834▲ $970
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleBaseTotal
Alison GenezPresident$8,291$8,291
Brian D HugickTreasurer$5,125$5,125
Laura VeglianteSecretary$2,434$2,434
Michele RabascoTrustee$690$690
Cathy JelinekTrustee$590$590
Monica Manko-SchmidtTrustee$590$590
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$436,883
Investment Income
$3,567
Other Revenue
$0
Change in Net Assets
$31,778
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$68,831
Salaries, Compensation, and Employee Benefits$17,721
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members$322,120--$322,120
Fees for Services Legal-$20,100-$20,100
Current Officers, Directors, Trustees, and Key Employees-$17,721-$17,721
Insurance-$13,815-$13,815
All Other Expenses-$6,767-$6,767
Fees for Services Accounting-$4,700-$4,700
Office Expenses-$851-$851
Other Expenses$19,296$400-$400
Total Functional Expenses$341,416$67,256$0$408,672
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
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
Yes

Governance Explanations

Form 990, Part VI, Line 3 - Management Delegated

“The payment of benefits and the books of account are maintained by Zenith American Solutions. Management of the fund or plan activities is controlled by the Trustees with assistance from the plan administrators (aka ZAS).”

Form 990, Part VI, Line 11B - Organization'S Process to Review Form 990

“Upon completion of the federal tax return, for 990, a copy of such is forwarded to both the plan chairperson and the plan administrators prior to filing. In the event changes are required the accounting office is notified and the obligatory adjustments are made. In the event there are no changes to be made, then the plan chairperson signs form 8879-EO and returns it to the accountants, constituting their approval for content and electronic filing with the IRS.”

Form 990, Part VI, Line 19 - Governing Documents Disclosure Explanation

“There are a variety of methods of making governing documents, the conflict of interest policy, and financial statements available to those who inquire. The individual can request copies to be forwarded to them over the internet, fax or they can come into the administrators facilities and review the documents there. Telephone is another method used along with photocopies of the requested documents, which can be made and mailed accordingly. In all cases, however, no information is given out that will jeopardize one's confidentiality or go askew of the HIPPA laws.”

Filing and Contact Details

Filer

Filer Name
Somers Faculty Association Trust Fund
EIN
13-2974866
In Care Of
% BRIAN HUGICK
Phone
2032697741
Address
PO Box 5817, Wallingford, CT 06492-6717

Signing Officer

Name
Brian Hugick
Title
treasurer
Signed
2020-01-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alison Genez
Formed
1979
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Nanavaty Nanavaty & Davenport LLP
Address
123 South Main St Suite 140, Newtown, CT 06470
Preparer
Glenn J Nanavaty
Phone
2034268500
Supplemental Narrative

Additional Explanations

Form 990 - Organization'S Mission or Most Significant Activities

“To provide dental, vision, and flex medical coverage for plan enrollees and their immediate family where applicable. Also, to provide group life and accidental death & dismemberment insurance coverage.”

Financial Statement Notes

Part X, FIN 48 Footnote

“The Association recognizes the benefits of income tax positions only if those positions are more likely than not of being of sustained. The Association is subject to routine audits by the Internal Revenue Service. There are currently no audits for any tax periods in progress and the Association believes that it is no longer subject to audits for years prior to 2015.”

Raw XML Appendix390 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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IRS990/ProgramServiceRevenueGrp/Desc1CONTRIBUTIONS - MEMBER COBRA
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Association recognizes the benefits of income tax positions only if those positions are more likely than not of being of sustained. The Association is subject to routine audits by the Internal Revenue Service. There are currently no audits for any tax periods in progress and the Association believes that it is no longer subject to audits for years prior to 2015.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, FIN 48 Footnote
IRS990ScheduleD/TotalLiabilityAmt00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0To provide dental, vision, and flex medical coverage for plan enrollees and their immediate family where applicable. Also, to provide group life and accidental death & dismemberment insurance coverage.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The payment of benefits and the books of account are maintained by Zenith American Solutions. Management of the fund or plan activities is controlled by the Trustees with assistance from the plan administrators (aka ZAS).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Upon completion of the federal tax return, for 990, a copy of such is forwarded to both the plan chairperson and the plan administrators prior to filing. In the event changes are required the accounting office is notified and the obligatory adjustments are made. In the event there are no changes to be made, then the plan chairperson signs form 8879-EO and returns it to the accountants, constituting their approval for content and electronic filing with the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3There are a variety of methods of making governing documents, the conflict of interest policy, and financial statements available to those who inquire. The individual can request copies to be forwarded to them over the internet, fax or they can come into the administrators facilities and review the documents there. Telephone is another method used along with photocopies of the requested documents, which can be made and mailed accordingly. In all cases, however, no information is given out that will jeopardize one's confidentiality or go askew of the HIPPA laws.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 - Organization's Mission or Most Significant Activities
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 3 - Management Delegated
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 11B - Organization's Process to Review Form 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19 - Governing Documents Disclosure Explanation
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IRS990/USAddress/AddressLine1Txt0121 Starr Ridge Road
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IRS990/USAddress/ZIPCd010509
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ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRIAN HUGICK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0treasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-01-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Somers Faculty Association Trust Fund
ReturnHeader/Filer/BusinessNameControlTxt0SOME
ReturnHeader/Filer/EIN0132974866
ReturnHeader/Filer/InCareOfNm0% BRIAN HUGICK
ReturnHeader/Filer/PhoneNum02032697741
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 5817
ReturnHeader/Filer/USAddress/CityNm0Wallingford
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd0064926717
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0EB867356E1711A2F3E8DAB2868806AAD88EAA01C
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0EB867356E1711A2F3E8DAB2868806AAD88EAA01C
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId006596220200415000002
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02020-02-10
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt071.9.150.162
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Nanavaty Nanavaty & Davenport LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0123 South Main St Suite 140
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Newtown
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd006470
ReturnHeader/PreparerPersonGrp/PhoneNum02034268500
ReturnHeader/PreparerPersonGrp/PreparationDt02020-01-31
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Glenn J Nanavaty
ReturnHeader/ReturnTs02020-02-10T12:21:45-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$525,834
Liabilities
$72,438
Net assets
$453,396
Revenue
$440,450
Expenses
$408,672
Net income
$31,778
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.59$0.70$1.89$4.82$4.78$0.04
2024Detailed filing. Detailed filing data is available for this year.$3.01$1.16$1.85$5.08$5.77$0.69
2023Detailed filing. Detailed filing data is available for this year.$3.71$1.18$2.54$4.70$6.03$1.33
2022Detailed filing. Detailed filing data is available for this year.$4.88$1.01$3.87$4.52$5.15$0.63
2021Detailed filing. Detailed filing data is available for this year.$5.39$0.89$4.50$4.56$4.80$0.25
2020Detailed filing. Detailed filing data is available for this year.$5.47$0.72$4.75$4.52$4.30$0.22
2019Detailed filing. Detailed filing data is available for this year.$5.26$0.72$4.53$4.40$4.09$0.32
2018Detailed filing. Detailed filing data is available for this year.$5.25$1.03$4.22$4.27$3.57$0.70
2017Detailed filing. Detailed filing data is available for this year.$4.80$1.29$3.51$4.20$4.05$0.15
2016Detailed filing. Detailed filing data is available for this year.$4.76$1.40$3.36$3.34$3.46$0.12
2015Detailed filing. Detailed filing data is available for this year.$5.06$1.58$3.48$3.87$3.68$0.19
2014Detailed filing. Detailed filing data is available for this year.$3.91$0.61$3.29$3.83$3.28$0.55
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.27$0.53$2.74$3.75$3.36$0.39
2012Summary only. Only limited summary data is available for this year.$2.93$0.61$2.32$3.81$3.77$0.04
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.85$0.58$2.27$4.00