Civic Intelligence

Fleet Owners Insurance Fund

990 • Fiscal year 2019 • EIN 34-6540902

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

Organization ProfileFLEETOWNERSINSURANCE.ORG

View Organization Page

PO Box 393Valley City, OH 44280

(440) 243-0648

Siviq Scores

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

Liabilities / Assets

77th percentile

0.14x

Higher debt load relative to assets than 77% of similar nonprofits.

2019 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

78th percentile

0.13x

Higher debt load relative to revenue than 78% of similar nonprofits.

2019 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2019

Net Margin

5th percentile

-127%

Higher net margin than 5% of similar nonprofits.

2019 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

77th percentile

$105,100

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 7.8% of source-year revenue.

2019 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2019

Asset Growth

5th percentile

-57%

Faster asset growth than 5% of similar nonprofits.

2019 filings • 501(c)9 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

1st percentile

-89%

Faster revenue growth than 1% of similar nonprofits.

2019 filings • 501(c)9 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets77th percentile

Assets

Down

$1,227,132

Down $1,605,674 (-57%) from 2018

Net Assets

Down

$1,054,441

Down $1,624,367 (-61%) from 2018

Liabilities

Up

$172,691

Up $18,693 (+12%) from 2018

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin5th percentile

Revenue

Down

$1,350,099

Down $10,611,356 (-89%) from 2018

Expenses

Down

$3,069,653

Down $9,806,891 (-76%) from 2018

Net Income

Down

-$1,719,554

Down $804,465 (-88%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $6,174,897Liabilities 2010: $326,580Net Assets 2010: $5,848,3172010Assets 2011: $6,159,208Liabilities 2011: $341,212Net Assets 2011: $5,817,9962011Assets 2012: $5,924,543Liabilities 2012: $177,983Net Assets 2012: $5,746,5602012Assets 2013: $6,328,077Liabilities 2013: $107,619Net Assets 2013: $6,220,4582013Assets 2014: $7,085,094Liabilities 2014: $256,806Net Assets 2014: $6,828,2882014Assets 2018: $2,832,806Liabilities 2018: $153,998Net Assets 2018: $2,678,8082018Assets 2019: $1,227,132Liabilities 2019: $172,691Net Assets 2019: $1,054,4412019Assets 2020: $606,394Liabilities 2020: $26,550Net Assets 2020: $579,8442020Assets 2021: $366,062Liabilities 2021: $57,627Net Assets 2021: $308,4352021Assets 2022: $753,097Liabilities 2022: $1,245Net Assets 2022: $751,8522022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2019

Assets$1,227,132
Liabilities$172,691
Net Assets$1,054,441
Open 2019 Filing

Operations Trend

Revenue Growth1st percentile

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $3,463,2032010Expenses 2011: $5,683,1902011Expenses 2012: $6,105,3992012Revenue 2013: $6,228,472Expenses 2013: $5,914,827Net Income 2013: $313,6452013Revenue 2014: $8,400,286Expenses 2014: $7,423,886Net Income 2014: $976,4002014Revenue 2018: $11,961,455Expenses 2018: $12,876,544Net Income 2018: -$915,0892018Revenue 2019: $1,350,099Expenses 2019: $3,069,653Net Income 2019: -$1,719,5542019Revenue 2020: $22,853Expenses 2020: $511,100Net Income 2020: -$488,2472020Revenue 2021: $759Expenses 2021: $278,344Net Income 2021: -$277,5852021Revenue 2022: $528,508Expenses 2022: $85,091Net Income 2022: $443,4172022Revenue 2023: $828Expenses 2023: $752,680Net Income 2023: -$751,8522023

Highlighted filing

2019

Revenue$1,350,099
Expenses$3,069,653
Net Income-$1,719,554
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.1
Gross Receipts
$4,526,313
Mission and Program Overview

Mission

To provide health, welfare, death and other benefits to approximately 850 covered members and retirees and their eligible dependents

To provide health, welfare, death and other benefits to covered members and retirees and their eligible dependents

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,931,834$827,823▼ $1,104,011
Cash and Non-Interest-Bearing Accounts$214,561$368,513▲ $153,952
Accounts Receivable$677,039$30,314▼ $646,725
Prepaid Expenses and Deferred Charges$7,312$0▼ $7,312
Land, Buildings, and Equipment, Net$2,060$482▼ $1,578
Total Assets$2,832,806$1,227,132▼ $1,605,674
Liabilities
Other Liabilities$55,288$150,000▲ $94,712
Accounts Payable and Accrued Expenses$98,710$22,691▼ $76,019
Total Liabilities$153,998$172,691▲ $18,693
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,678,808$1,054,441▼ $1,624,367
Total Liabilities and Net Assets / Fund Balance$2,832,806$1,227,132▼ $1,605,674

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$482$66,865$67,347
Buildings$0--
Other Land Buildings$0--
Land$0--
Leasehold Improvements$0--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019----$0
2018----$0
2017----$0
2016----$0
2015----$0
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert KavalecTrusteeFT$100,000$5,100$105,100

Board Members and Trustees

NameTitle
William FriskyTrustee - Past

Highest Paid Contractors

ContractorServicesLocationCompensation
Lance B Johnson LLPLegal1700 LONDON RD, Cleveland, OH 44112$373,724
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,218,375
Investment Income
$131,724
Other Revenue
$0
Change in Net Assets
$-1,719,554

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,330,482
Revenue Not Reported on Financial Statements
$19,617
Revenue Not Reported on Form 990
$95,187
Total Revenue per Audited Statements
$1,425,669
Total Revenue per Form 990
$1,350,099
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$507,231
Salaries, Compensation, and Employee Benefits$170,817
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$2,391,605
Fees for Services Legal---$304,280
Fees for Services Other---$111,538
Current Officers, Directors, Trustees, and Key Employees---$105,100
Other Salaries and Wages---$48,750
Office Expenses---$22,585
Fees for Services Accounting---$20,250
Fees for Service Investment Mgmnt Fees---$19,617
Occupancy---$17,109
Payroll Taxes---$11,867
Insurance---$6,284
Other Employee Benefits---$5,100
Other Expenses---$3,990
Depreciation Depletion---$1,578
Total Functional Expenses$0$0$0$3,069,653

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,069,653
Expenses per Audited Statements$2,955,324
Total Expenses per Audited Statements$2,955,324
Expenses Not Reported on Financial Statements$114,329
Other Expense Adjustments$94,712
Expenses Not Reported on Form 990$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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Health Claims Payable$150,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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, Part VI, Line 11B

“The form 990 is prepared by an independent accounting firm and provided to the administrator for review prior to filing.”

Form 990, Part VI, Line 12C

“An annual review is done by the board of trustees to identify potential conflicts of interest.”

Form 990, Part VI, Line 15A

“Increase in compensation requires board approval and is compared to industry standards for reasonableness.”

Form 990, Part VI, Line 15B

“Increase in compensation requires board approval and is compared to industry standards for reasonableness.”

Form 990, Part VI, Line 19

“Governing documents, policies and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Fleet Owners Insurance Fund
EIN
34-6540902
Phone
4402430648
Address
PO BOX 393, VALLEY CITY, OH 44280

Signing Officer

Name
Robert Kavalec
Title
Trustee
Signed
2020-11-13

Organization Details

Formed
1954
Legal Domicile
Oh
Voting Board Members
1
Independent Board Members
0
Employees
4
Volunteers
0

Preparer

Firm
J Schaefer & Company LLC
Address
1360 W 9TH ST STE 420, Cleveland, OH 44113
Preparer
John Schaefer CPA
Phone
2162737661
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

“In 2019, all participation agreements with employers had either expired or been terminated and the fund was no longer offering health and welfare benefit coverage. The trustees are in the process of settling outstanding claims and terminating the plan.”

Form 990, Part IV, Line 11F

“The fund's management has analyzed the tax positions taken by the fund and has concluded that, as of december 31, 2019, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements.”

Financial Statement Notes

Part XII, Line 4B

“Change in health claims payable”

Raw XML Appendix341 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/ExplanationTxt0CHANGE IN HEALTH CLAIMS PAYABLE
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IN 2019, ALL PARTICIPATION AGREEMENTS WITH EMPLOYERS HAD EITHER EXPIRED OR BEEN TERMINATED AND THE FUND WAS NO LONGER OFFERING HEALTH AND WELFARE BENEFIT COVERAGE. THE TRUSTEES ARE IN THE PROCESS OF SETTLING OUTSTANDING CLAIMS AND TERMINATING THE PLAN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FUND'S MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FUND AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2019, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND PROVIDED TO THE ADMINISTRATOR FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AN ANNUAL REVIEW IS DONE BY THE BOARD OF TRUSTEES TO IDENTIFY POTENTIAL CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4INCREASE IN COMPENSATION REQUIRES BOARD APPROVAL AND IS COMPARED TO INDUSTRY STANDARDS FOR REASONABLENESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5INCREASE IN COMPENSATION REQUIRES BOARD APPROVAL AND IS COMPARED TO INDUSTRY STANDARDS FOR REASONABLENESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART IV, LINE 11F
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0true
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02832806
IRS990/TotalAssetsEOYAmt01227132
IRS990/TotalAssetsGrp/BOYAmt02832806
IRS990/TotalAssetsGrp/EOYAmt01227132
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt03069653
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0153998
IRS990/TotalLiabilitiesEOYAmt0172691
IRS990/TotalLiabilitiesGrp/BOYAmt0153998
IRS990/TotalLiabilitiesGrp/EOYAmt0172691
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02678808
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01054441
IRS990/TotalOtherCompensationAmt05100
IRS990/TotalProgramServiceRevenueAmt01218375
IRS990/TotalReportableCompFromOrgAmt0100000
IRS990/TotalRevenueGrp/ExclusionAmt0131724
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01218375
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01350099
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02832806
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01227132
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 393
IRS990/USAddress/CityNm0VALLEY CITY
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd044280
IRS990/VotingMembersGoverningBodyCnt01
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0FLEETOWNERSINSURANCE.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/PersonNm0ROBERT KAVALEC
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TRUSTEE
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FLEET OWNERS INSURANCE FUND
ReturnHeader/Filer/BusinessNameControlTxt0FLEE
ReturnHeader/Filer/EIN0346540902
ReturnHeader/Filer/PhoneNum04402430648
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 393
ReturnHeader/Filer/USAddress/CityNm0VALLEY CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
ReturnHeader/Filer/USAddress/ZIPCd044280
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0AF943CB9A77FFC3F8C520DBE02D0B7303EEF4BCB
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0AF943CB9A77FFC3F8C520DBE02D0B7303EEF4BCB
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0172.8.210.102
ReturnHeader/FilingSecurityInformation/IPDt02020-11-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm008:48:58
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0823706925
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0J SCHAEFER & COMPANY LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01360 W 9TH ST STE 420
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Cleveland
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd044113
ReturnHeader/PreparerPersonGrp/PhoneNum02162737661
ReturnHeader/PreparerPersonGrp/PreparationDt02020-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN SCHAEFER CPA
ReturnHeader/ReturnTs02020-11-13T11:48:51-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

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
$1,227,132
Liabilities
$172,691
Net assets
$1,054,441
Revenue
$1,350,099
Expenses
$3,069,653
Net income
-$1,719,554
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.00$0.75$0.75
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.75$0.00$0.75$0.53$0.09$0.44
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.37$0.06$0.31$0.00$0.28$0.28
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.61$0.03$0.58$0.02$0.51$0.49
2019Detailed filing. Detailed filing data is available for this year.$1.23$0.17$1.05$1.35$3.07$1.72
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.83$0.15$2.68$12.0$12.9$0.92
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.09$0.26$6.83$8.40$7.42$0.98
2013Detailed filing. Detailed filing data is available for this year.$6.33$0.11$6.22$6.23$5.91$0.31
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.92$0.18$5.75$6.11
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.16$0.34$5.82$5.68
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.17$0.33$5.85$3.46