Duluth Teachers' Retirement Fund Association

Nonprofit profile at a glance

EIN
410226827
IRS 990 coverage
2010–2014
Forms available
Form 990 2014
Location
Duluth, MN, USA
Phone
2187222894
Rating confidence
Limited
Sector
Pension and Retirement Funds

Reported finances

Revenue
$99,502,903
Expenses
$85,387,167
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • TOM PEARSON (PRESIDENT)
  • DEAN HEROLD (VICE PRESIDENT)
  • KAREN KILBERG (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KAREN KILBERG (EXECUTIVE DIRECTOR): $169,354 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To maintain a retirement fund paying annuities to members who retire from independent school district #709 and to pay disability or death benefits as required.

Operating model

Revenue model
Other-operating. 74% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 77
  • Accountability: 84
  • Sustainability: 50
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 67th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 84th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 14.2%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0.2%; rating input score 93; 93rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 40.8% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: -24.7% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 9 of 9 board members independent · 5 of 8 filing controls reported
  • Programs: Filed program service accomplishments
  • Leadership: top reported pay $169K · 10 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $533K reported
  • Consistency: 7 of 7 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2010 to 2014
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.