Civic Intelligence

Raf Inc

990 • Fiscal year 2016 • EIN 20-3643982

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 10, 2016

Organization ProfileN/A
8347 West Range CoveMemphis, TN 38125

(901) 748-1868

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$6,475,807

Down $42,879 (-0.7%) from 2015

Net Assets

Down

$6,345,334

Down $21,057 (-0.3%) from 2015

Liabilities

Down

$130,473

Down $21,822 (-14%) from 2015

Revenue And Expenses

Revenue

Up

$1,744,583

Up $209,966 (+14%) from 2015

Expenses

Up

$1,359,269

Up $232,926 (+21%) from 2015

Net Income

Down

$385,314

Down $22,960 (-5.6%) from 2015

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2010: $3,069,420Liabilities 2010: $148,954Net Assets 2010: $2,920,4662010Assets 2011: $3,729,303Liabilities 2011: $150,214Net Assets 2011: $3,579,0892011Assets 2012: $4,777,211Liabilities 2012: $63,934Net Assets 2012: $4,713,2772012Assets 2013: $5,341,842Liabilities 2013: $156,959Net Assets 2013: $5,184,8832013Assets 2014: $6,466,361Liabilities 2014: $422,211Net Assets 2014: $6,044,1502014Assets 2015: $6,518,686Liabilities 2015: $152,295Net Assets 2015: $6,366,3912015Assets 2016: $6,475,807Liabilities 2016: $130,473Net Assets 2016: $6,345,3342016Assets 2017: $7,079,036Liabilities 2017: $380,570Net Assets 2017: $6,698,4662017Assets 2018: $7,004,645Liabilities 2018: $735,846Net Assets 2018: $6,268,7992018Assets 2019: $6,718,936Liabilities 2019: $537,717Net Assets 2019: $6,181,2192019Assets 2020: $7,028,402Liabilities 2020: $440,868Net Assets 2020: $6,587,5342020Assets 2021: $9,177,263Liabilities 2021: $1,601,870Net Assets 2021: $7,575,3932021Assets 2022: $8,413,645Liabilities 2022: $738,137Net Assets 2022: $7,675,5082022Assets 2023: $8,795,054Liabilities 2023: $532,981Net Assets 2023: $8,262,0732023Assets 2024: $9,476,899Liabilities 2024: $434,329Net Assets 2024: $9,042,5702024

Highlighted filing

2016

Assets$6,475,807
Liabilities$130,473
Net Assets$6,345,334
Open 2016 Filing

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $983,2072010Expenses 2011: $868,4182011Expenses 2012: $938,1392012Expenses 2013: $1,315,2642013Revenue 2014: $2,007,580Expenses 2014: $1,389,942Net Income 2014: $617,6382014Revenue 2015: $1,534,617Expenses 2015: $1,126,343Net Income 2015: $408,2742015Revenue 2016: $1,744,583Expenses 2016: $1,359,269Net Income 2016: $385,3142016Revenue 2017: $2,112,158Expenses 2017: $2,146,342Net Income 2017: -$34,1842017Revenue 2018: $2,098,661Expenses 2018: $2,361,013Net Income 2018: -$262,3522018Revenue 2019: $1,756,045Expenses 2019: $1,716,182Net Income 2019: $39,8632019Revenue 2020: $2,142,040Expenses 2020: $1,578,178Net Income 2020: $563,8622020Revenue 2021: $2,409,295Expenses 2021: $2,147,175Net Income 2021: $262,1202021Revenue 2022: $2,393,891Expenses 2022: $1,285,190Net Income 2022: $1,108,7012022Revenue 2023: $2,711,180Expenses 2023: $2,181,564Net Income 2023: $529,6162023Revenue 2024: $2,831,156Expenses 2024: $2,215,505Net Income 2024: $615,6512024

Highlighted filing

2016

Revenue$1,744,583
Expenses$1,359,269
Net Income$385,314
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 10, 2016
Return Version
2015v2.1
Gross Receipts
$2,594,591
Mission and Program Overview

Mission

Raf facilitates various insurance programs for the benefit of nonprofit organizations and their officers throughout north america. Raf also supports the health and safety educational initiatives of various nonprofit organizations as well as their officers, advisors, and members.

Provide liability protection for accidents and other incidents that may occur on chapter properties or involving chapter members or officers

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,085,206$5,168,323▲ $83,117
Cash and Non-Interest-Bearing Accounts$602,751$644,902▲ $42,151
Other Notes and Loans Receivable, Net$559,631$391,484▼ $168,147
Investments Other Securities$271,098$271,098→ $0
Total Assets$6,518,686$6,475,807▼ $42,879
Liabilities
Other Liabilities$76,859$130,367▲ $53,508
Accounts Payable and Accrued Expenses$75,436$106▼ $75,330
Total Liabilities$152,295$130,473▼ $21,822
Net Assets / Fund Balance
Unrestricted Net Assets$6,366,391$6,345,334▼ $21,057
Total Net Assets Fund Balance$6,366,391$6,345,334▼ $21,057
Total Liabilities and Net Assets / Fund Balance$6,518,686$6,475,807▼ $42,879
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michael W RileyPresident
John M SilbersteinVice President
Allen W GrovesDirector
Devang DesaiDirector
Thomas J OlsenDirector
Justin a BuckChief Executive Officer
Robert R Parsons JrChief Financial Officer
Revenue and Support

Revenue Composition

Contributions and Grants
$300,000
Program Service Revenue
$1,211,455
Investment Income
$233,128
Other Revenue
$0
All Other Contributions
$300,000
Change in Net Assets
$385,314

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,708,442
Revenue Not Reported on Financial Statements
$36,141
Revenue Not Reported on Form 990
$-370,229
Other Revenue Adjustments
$36,141
Total Revenue per Audited Statements
$1,338,213
Total Revenue per Form 990
$1,744,583
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,359,269
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other---$320,726
Insurance---$159,729
Fees for Services Legal---$57,002
Payments to Affiliates---$50,000
Other Expenses---$43,106
Travel---$10,432
Fees for Services Accounting---$8,800
All Other Expenses---$104
Total Functional Expenses$0$0$0$1,359,269

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,359,270
Expenses per Audited Statements$1,359,269
Total Expenses per Form 990$1,359,269
Expenses Not Reported on Form 990$1
Expenses Not Reported on Financial Statements$0
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
John BobangoTrustee/board Member of Oak Service CorporationJohn Bobango Is President of Oak Service Corporation and Managing Partner of Farris Bobango, Pllc., Which Provided Legal Services to Raf, Inc.No-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Estimated Claims Payable$130,367
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
Yes
CEO compensation reviewed
No
Other officer compensation reviewed
No
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, Part VI, Section B, Line 11

“The 990 is reviewed by the ceo and key accounting personnel.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy is reviewed and revisited during each election cycle. (every 2 years). There is an on-going discussion and education regarding conflict of interest issues.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, financial statements and conflict of interest policy are available upon request.”

Filing and Contact Details

Filer

Filer Name
Raf Inc
EIN
20-3643982
Phone
9017481868
Address
8347 WEST RANGE COVE, MEMPHIS, TN 38125

Signing Officer

Name
Justin a Buck
Title
Chief Executive Officer
Phone
9017481868
Signed
2016-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Justin a Buck
Formed
2005
Legal Domicile
Tn
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Dixon Hughes Goodman Llp
Address
999 S SHADY GROVE RD STE 400, MEMPHIS, TN 38120
Preparer
Amy M Doolin
Phone
9017613000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Insurance:inspection fees 10,375. Operations:investment services 19,726. Operations:bank service fees 15. Operations:contracted services 290,610.”

FORM 990, PART XI, LINE 9:

“Pass-through adjustment on 990 not on books -36,141. Rounding -1.”

Form 990, Part XII, Line 2C

“The organization did not change its oversight process or selection process during the year.”

Financial Statement Notes

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Pass-through adjustment on 990 not on books 36,141.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“ROUNDING 1.”

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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt02298
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt12602
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JUSTIN A BUCK
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1ROBERT R PARSONS JR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CHIEF EXECUTIVE OFFICER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1CHIEF FINANCIAL OFFICER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt048237
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt180797
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0SALARIES AND BENEFITS ARE PAID BY OAK SERVICE CORPORATION, EIN 47-2411265. THE PORTION OF SALARIES AND BENEFITS THAT RELATE TO RAF, INC IS REFLECTED ON FORM 990, PART VII AND ON SCHEDULE J OF THIS RETURN.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VII, COLUMN (F)
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0JOHN BOBANGO
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0TRUSTEE/BOARD MEMBER OF OAK SERVICE CORPORATION
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0JOHN BOBANGO IS PRESIDENT OF OAK SERVICE CORPORATION AND MANAGING PARTNER OF FARRIS BOBANGO, PLLC., WHICH PROVIDED LEGAL SERVICES TO RAF, INC.
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS REVIEWED BY THE CEO AND KEY ACCOUNTING PERSONNEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY IS REVIEWED AND REVISITED DURING EACH ELECTION CYCLE. (EVERY 2 YEARS). THERE IS AN ON-GOING DISCUSSION AND EDUCATION REGARDING CONFLICT OF INTEREST ISSUES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INSURANCE:INSPECTION FEES 10,375. OPERATIONS:INVESTMENT SERVICES 19,726. OPERATIONS:BANK SERVICE FEES 15. OPERATIONS:CONTRACTED SERVICES 290,610.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PASS-THROUGH ADJUSTMENT ON 990 NOT ON BOOKS -36,141. ROUNDING -1.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0TN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt06518686
IRS990/TotalAssetsEOYAmt06475807
IRS990/TotalAssetsGrp/BOYAmt06518686
IRS990/TotalAssetsGrp/EOYAmt06475807
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0300000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01359269
IRS990/TotalGrossUBIAmt0304983
IRS990/TotalLiabilitiesBOYAmt0152295
IRS990/TotalLiabilitiesEOYAmt0130473
IRS990/TotalLiabilitiesGrp/BOYAmt0152295
IRS990/TotalLiabilitiesGrp/EOYAmt0130473
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt06366391
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06345334
IRS990/TotalOtherCompensationAmt0129034
IRS990/TotalProgramServiceRevenueAmt01211455
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01139600
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01744583
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0304983
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06518686
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06475807
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt010432
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UnrestrictedNetAssetsGrp/BOYAmt06366391
IRS990/UnrestrictedNetAssetsGrp/EOYAmt06345334
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08347 WEST RANGE COVE
IRS990/USAddress/CityNm0MEMPHIS
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd038125
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
IRS990/WrittenPolicyOrProcedureInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JUSTIN A BUCK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHIEF EXECUTIVE OFFICER
ReturnHeader/BusinessOfficerGrp/PhoneNum09017481868
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RAF INC
ReturnHeader/Filer/BusinessNameControlTxt0RAFI
ReturnHeader/Filer/EIN0203643982
ReturnHeader/Filer/PhoneNum09017481868
ReturnHeader/Filer/USAddress/AddressLine1Txt08347 WEST RANGE COVE
ReturnHeader/Filer/USAddress/CityNm0MEMPHIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd038125
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0560747981
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DIXON HUGHES GOODMAN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0999 S SHADY GROVE RD STE 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MEMPHIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd038120
ReturnHeader/PreparerPersonGrp/PhoneNum09017613000
ReturnHeader/PreparerPersonGrp/PreparationDt02016-11-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0AMY M DOOLIN
ReturnHeader/ReturnTs02016-11-15T08:16:07-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,475,807
Liabilities
$130,473
Net assets
$6,345,334
Revenue
$1,744,583
Expenses
$1,359,269
Net income
$385,314
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.48$0.43$9.04$2.83$2.22$0.62
2023Detailed filing. Detailed filing data is available for this year.$8.80$0.53$8.26$2.71$2.18$0.53
2022Detailed filing. Detailed filing data is available for this year.$8.41$0.74$7.68$2.39$1.29$1.11
2021Detailed filing. Detailed filing data is available for this year.$9.18$1.60$7.58$2.41$2.15$0.26
2020Detailed filing. Detailed filing data is available for this year.$7.03$0.44$6.59$2.14$1.58$0.56
2019Detailed filing. Detailed filing data is available for this year.$6.72$0.54$6.18$1.76$1.72$0.04
2018Detailed filing. Detailed filing data is available for this year.$7.00$0.74$6.27$2.10$2.36$0.26
2017Detailed filing. Detailed filing data is available for this year.$7.08$0.38$6.70$2.11$2.15$0.03
2016Detailed filing. Detailed filing data is available for this year.$6.48$0.13$6.35$1.74$1.36$0.39
2015Detailed filing. Detailed filing data is available for this year.$6.52$0.15$6.37$1.53$1.13$0.41
2014Detailed filing. Detailed filing data is available for this year.$6.47$0.42$6.04$2.01$1.39$0.62
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.34$0.16$5.18$1.32
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.78$0.06$4.71$0.94
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.73$0.15$3.58$0.87
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.07$0.15$2.92$0.98