St Paul Teachers Retirement Fund Association

Nonprofit profile at a glance

EIN
410571990
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
St Paul, MN, USA
Phone
6516422550
Rating
48
Verdict
MIXED
Rating confidence
Moderate
Sector
Mutual/Membership Benefit

Official website

Reported finances

Revenue
$301,193,640
Expenses
$130,572,055
Assets
$1,473,241,708
Liabilities
$39,305,304

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • Phillip Tencick (Executive Director)
  • Lori Borgeson (President)
  • Stephanie Piganto (Vice President)

Highest reported compensation

  • Phillip Tencick (Executive Director): $154,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To collect and invest contributions to fund lifetime retirement benefits to members who retire from Independent School District #625 as well as disability or survivor/beneficiary benefits as required.

What it reported doing in 2024

Maintain a retirement fund paying benefits to members who retire from Independent School District #625 as well as pay disability or survivor/beneficiary benefits as required.

Operating model

Revenue model
Earned-program. 66% of the money available for current operations came from fees and other program 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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 71
  • Accountability: 95
  • Sustainability: 94
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • 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; 77th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 56.6%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 11.28; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 0.1%; rating input score 92; 92nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 10.3% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 3.7% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 10 of 10 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $127.7M in reported program spending
  • Leadership: top reported pay $154K · 11 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 11 filing years from 2014 to 2024
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.