Civic Intelligence

Twu Reserve Fund

990 • Fiscal year 2019 • EIN 82-3936748

Sep 01, 2018 to Aug 31, 2019 • Filed on Jul 15, 2020

Organization ProfileN/A
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

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2019

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)5 • <$500k nonprofits • Source year 2019

Net Margin

1st percentile

-247%

Higher net margin than 1% of similar nonprofits.

2019 filings • 501(c)5 • <$500k nonprofits • Source year 2019

Top Officer Pay

100th percentile

$291,186

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 196.2% of source-year revenue.

2019 filings • 501(c)5 • <$500k nonprofits • Source year 2019

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

2019 filings • 501(c)5 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

1st percentile

-99%

Faster revenue growth than 1% of similar nonprofits.

2019 filings • 501(c)5 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $36,867,200 (-100%) from 2018

Net Assets

Down

$0

Down $36,265,834 (-100%) from 2018

Liabilities

Down

$0

Down $601,366 (-100%) from 2018

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin1st percentile

Revenue

Down

$148,398

Down $11,240,040 (-99%) from 2018

Expenses

Down

$514,232

Down $865,556 (-63%) from 2018

Net Income

Down

-$365,834

Down $10,374,484 (-104%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

2019

Assets$0
Liabilities$0
Net Assets$0
Open 2019 Filing

Operations Trend

Revenue Growth1st percentile

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

2019

Revenue$148,398
Expenses$514,232
Net Income-$365,834
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2018 to Aug 31, 2019
Signed
Jul 15, 2020
Return Version
2018v3.2
Gross Receipts
$148,398
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$36,867,200$0▼ $36,867,200
Total Assets$36,867,200$0▼ $36,867,200
Liabilities
Other Liabilities$601,366$0▼ $601,366
Total Liabilities$601,366$0▼ $601,366
Net Assets / Fund Balance
Temporarily Rstr Net Assets$36,265,834$0▼ $36,265,834
Total Net Assets Fund Balance$36,265,834$0▼ $36,265,834
Total Liabilities and Net Assets / Fund Balance$36,867,200$0▼ $36,867,200
Compensation and Service Providers
Top Officer Pay100th percentile

Board Members and Trustees

NameTitle
John SamuelsenPresident
Curtis TateAdmin VP
Mike MayesAdmin VP
Alex GarciaExec VP
Jerome LafragolaSecy/treas
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$148,398
Other Revenue
$0
Change in Net Assets
$-365,834
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$514,232
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-$452,825-$452,825
Fees for Services Legal-$43,178-$43,178
Fees for Service Investment Mgmnt Fees-$18,229-$18,229
Total Functional Expenses$0$514,232$0$514,232
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
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
2020-07-15
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 Cpapc
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 452,825. Fundraising expenses 0. Total expenses 452,825.”

FORM 990, PART XI, LINE 9:

“Distribution to members -35,900,000.”

Raw XML Appendix397 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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IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleN/DirectorOfSuccessor2Ind00
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0THE ASSETS WERE DISTRIBUTED TO THE CERTAIN MEMBERS OF THE TRANSPORT WORKERS UNION.
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02018-10-26
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt035900000
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0DISTRIBUTION WAS MADE IN CASH
IRS990ScheduleN/EmployeeOfSuccessor2Ind00
IRS990ScheduleN/OwnerOfSuccessor2Ind00
IRS990ScheduleN/ReceiveCompensation2Ind00
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 452,825. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 452,825.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DISTRIBUTION TO MEMBERS -35,900,000.
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/InvolvedAmt0601366
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/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt036265834
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt036867200
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt036867200
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0514232
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0514232
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0601366
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt0601366
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt036265834
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0148398
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0148398
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt036867200
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt01293794
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0501 3RD STREET NW
IRS990/USAddress/CityNm0WASHINGTON
IRS990/USAddress/StateAbbreviationCd0DC
IRS990/USAddress/ZIPCd020001
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-09-10 13:11:23Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JEROME LAFRAGOLA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0INT'L SECY/TREAS
ReturnHeader/BusinessOfficerGrp/PhoneNum02027193900
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-07-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TWU RESERVE FUND
ReturnHeader/Filer/BusinessNameControlTxt0TWUR
ReturnHeader/Filer/EIN0823936748
ReturnHeader/Filer/PhoneNum02027193900
ReturnHeader/Filer/USAddress/AddressLine1Txt0501 3RD STREET NW
ReturnHeader/Filer/USAddress/CityNm0WASHINGTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0DC
ReturnHeader/Filer/USAddress/ZIPCd020001
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0CB0429CB5AFE58E1F39401455C0547C729D10802
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt024.44.16.53
ReturnHeader/FilingSecurityInformation/IPDt02020-07-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm015:41:26
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0822653400
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JONAH COHEN CPAPC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt014 MULBERRY DRIVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HUNTINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd011743
ReturnHeader/PreparerPersonGrp/PhoneNum05166955530
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JONAH COHEN
ReturnHeader/ReturnTs02020-07-15T15:41:31-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-09-01
ReturnHeader/TaxPeriodEndDt02019-08-31
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
$0
Liabilities
$0
Net assets
$0
Revenue
$148,398
Expenses
$514,232
Net income
-$365,834
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2019Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.15$0.51$0.37
2018Detailed filing. Detailed filing data is available for this year.$36.9$0.60$36.3$11.4$1.38$10.0
2017Summary only. Only limited summary data is available for this year.$81.3$0.00$81.3$4.88$0.30$4.58
2016Summary only. Only limited summary data is available for this year.$76.9$0.18$76.7$1.23$0.64$0.59
2015Summary only. Only limited summary data is available for this year.$76.1$0.00$76.1$25.7$0.01$25.7