Civic Intelligence

Twu Reserve Fund

990 • Fiscal year 2018 • EIN 82-3936748

Sep 01, 2017 to Aug 31, 2018 • Filed on Jul 11, 2019

501 3rd Street NWWashington, DC 20001

(202) 719-3900

Siviq Scores

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

Liabilities / Assets

17th percentile

0.02x

Higher debt load relative to assets than 17% of similar nonprofits.

2018 filings • $100M-$250M nonprofits • Source year 2018

Liabilities / Revenue

16th percentile

0.05x

Higher debt load relative to revenue than 16% of similar nonprofits.

2018 filings • $100M-$250M nonprofits • Source year 2018

Net Margin

97th percentile

88%

Higher net margin than 97% of similar nonprofits.

2018 filings • $100M-$250M nonprofits • Source year 2018

Top Officer Pay

36th percentile

$282,970

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 2.5% of source-year revenue.

2018 filings • $100M-$250M nonprofits • Source year 2018

Asset Growth

1st percentile

-55%

Faster asset growth than 1% of similar nonprofits.

2018 filings • $100M-$250M nonprofits • Annualized from 2017 to 2018

Revenue Growth

96th percentile

133%

Faster revenue growth than 96% of similar nonprofits.

2018 filings • $100M-$250M nonprofits • Annualized from 2017 to 2018

Assets

Down

$36,867,200

Down $44,389,991 (-55%) from 2017

Net Assets

Down

$36,265,834

Down $44,991,357 (-55%) from 2017

Liabilities

Up

$601,366

Up $601,366 from 2017

Revenue

Up

$11,388,438

Up $6,509,818 (+133%) from 2017

Expenses

Up

$1,379,788

Up $1,077,169 (+356%) from 2017

Net Income

Up

$10,008,650

Up $5,432,649 (+119%) from 2017

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2015: $76,086,384Liabilities 2015: $0Net Assets 2015: $76,086,3842015Assets 2016: $76,864,794Liabilities 2016: $183,604Net Assets 2016: $76,681,1902016Assets 2017: $81,257,191Liabilities 2017: $0Net Assets 2017: $81,257,1912017Assets 2018: $36,867,200Liabilities 2018: $601,366Net Assets 2018: $36,265,8342018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $02021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2018

Assets$36,867,200
Liabilities$601,366
Net Assets$36,265,834

Operations Trend

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

$30M$20M$10M$0-$10MRevenue 2015: $25,747,249Expenses 2015: $5,688Net Income 2015: $25,741,5612015Revenue 2016: $1,230,621Expenses 2016: $635,815Net Income 2016: $594,8062016Revenue 2017: $4,878,620Expenses 2017: $302,619Net Income 2017: $4,576,0012017Revenue 2018: $11,388,438Expenses 2018: $1,379,788Net Income 2018: $10,008,6502018Revenue 2019: $148,398Expenses 2019: $514,232Net Income 2019: -$365,8342019Revenue 2020: $0Expenses 2020: $0Net Income 2020: $02020Revenue 2021: $0Expenses 2021: $0Net Income 2021: $02021Revenue 2022: $0Expenses 2022: $0Net Income 2022: $02022Revenue 2023: $0Expenses 2023: $0Net Income 2023: $02023Revenue 2024: $0Expenses 2024: $0Net Income 2024: $02024

Highlighted filing

2018

Revenue$11,388,438
Expenses$1,379,788
Net Income$10,008,650
Jump To
Filing Snapshot
Filing Period
Sep 1, 2017 to Aug 31, 2018
Signed
Jul 11, 2019
Return Version
2017v2.3
Gross Receipts
$164,748,359
Mission and Program Overview

Mission

Administer assets to be distributed to certain members of the transport workers union of america ("twu")

Administer assets for certain members of the transport workers union of america ("twu")

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$75,152,950$36,867,200▼ $38,285,750
Total Assets$81,257,191$36,867,200▼ $44,389,991
Other Assets Total$6,104,241$0▼ $6,104,241
Liabilities
Other Liabilities$0$601,366▲ $601,366
Total Liabilities$0$601,366▲ $601,366
Net Assets / Fund Balance
Temporarily Rstr Net Assets$81,257,191$36,265,834▼ $44,991,357
Total Net Assets Fund Balance$81,257,191$36,265,834▼ $44,991,357
Total Liabilities and Net Assets / Fund Balance$81,257,191$36,867,200▼ $44,389,991
Compensation and Service Providers

Board Members and Trustees

NameTitle
John SamuelsonPresident
Curtis TateAdmin VP
Mike MayesAdmin VP
Alex GarciaExec VP
Gary MaslankaSecy/treas
Jerome LafragolaSecy/treas
John BlandVP
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$11,388,438
Other Revenue
$0
Change in Net Assets
$10,008,650
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,379,788
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 Service Investment Mgmnt Fees-$504,557-$504,557
Fees for Services Other-$496,713-$496,713
Fees for Services Legal-$370,705-$370,705
Fees for Services Accounting-$7,813-$7,813
Total Functional Expenses$0$1,379,788$0$1,379,788
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
Amounts Due Twu of America$601,366
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8A

Twu officials meet regularly with the investment advisor for the fund, which provides written reports to the twu. There is no other contemporaneous documentation of meetings.

Form 990, Part VI, Section A, Line 8B

Twu officials meet regularly with the investment advisor for the fund, which provides written reports to the twu. There is no other contemporaneous documentation of meetings.

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

This form 990 has been reviewed by the twu's five senior officers and its director of accounting.

Form 990, Part VI, Section C, Line 19

The fund has not made its governing documents, conflict of interest policy, or financial statements available to the public during the tax year.

Filing and Contact Details

Filer

Filer Name
Twu Reserve Fund
EIN
82-3936748
Phone
2027193900
Address
501 3RD STREET NW, WASHINGTON, DC 20001

Signing Officer

Name
Jerome Lafragola
Title
INT'L SECY/TREAS
Phone
2027193900
Signed
2019-07-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jerome Lafragola
Formed
2014
Legal Domicile
Dc
Voting Board Members
5
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Jonah Cohen CPA Pc
Address
14 MULBERRY DRIVE, HUNTINGTON, NY 11743
Preparer
Jonah Cohen
Phone
5166955530
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Administration fees for distributions: program service expenses 0. Management and general expenses 496,713. Fundraising expenses 0. Total expenses 496,713.

FORM 990, PART XI, LINE 9:

Distribution to members -55,000,007.

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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt50
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt60
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt50
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt60
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt50
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt60
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt01104
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt110896
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt27194
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt34536
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt43582
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt54216
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt67296
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOHN SAMUELSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1ALEX GARCIA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2JEROME LAFRAGOLA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3CURTIS TATE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm4MIKE MAYES
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm5GARY MASLANKA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm6JOHN BLAND
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1EXEC VP
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2SECY/TREAS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3ADMIN VP
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt4ADMIN VP
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt5SECY/TREAS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt6VP
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt50
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt60
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0278385
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1282970
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt2236872
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt3156845
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt4153363
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt5249678
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt6222474
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TWU OFFICIALS MEET REGULARLY WITH THE INVESTMENT ADVISOR FOR THE FUND, WHICH PROVIDES WRITTEN REPORTS TO THE TWU. THERE IS NO OTHER CONTEMPORANEOUS DOCUMENTATION OF MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TWU OFFICIALS MEET REGULARLY WITH THE INVESTMENT ADVISOR FOR THE FUND, WHICH PROVIDES WRITTEN REPORTS TO THE TWU. THERE IS NO OTHER CONTEMPORANEOUS DOCUMENTATION OF MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THIS FORM 990 HAS BEEN REVIEWED BY THE TWU'S FIVE SENIOR OFFICERS AND ITS DIRECTOR OF ACCOUNTING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FUND HAS NOT MADE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC DURING THE TAX YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ADMINISTRATION FEES FOR DISTRIBUTIONS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 496,713. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 496,713.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DISTRIBUTION TO MEMBERS -55,000,007.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0TRANSPORT WORKERS UNION OF AMERICA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0131395075
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(5)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0DC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0LABOR UNION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0501 3RD STREET NW
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0WASHINGTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0DC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd020001
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0680722
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0REVIEW OF INVOICES
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0TRANSPORT WORKERS UNION OF AMERICA
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0P
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt081257191
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt036265834
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt081257191
IRS990/TotalAssetsEOYAmt036867200
IRS990/TotalAssetsGrp/BOYAmt081257191
IRS990/TotalAssetsGrp/EOYAmt036867200
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01379788
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01379788
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt0601366
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0601366
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt081257191
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt036265834
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt011388438
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt011388438
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt081257191
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt036867200
IRS990/TotReportableCompRltdOrgAmt01580587

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