Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: EMPLOYER CONTRIBUTIONS

  total $285,586,890 · related or exempt $285,586,890

• 2b · Program service revenue: PARTICIPANT CONTRIBUTIONS

  total $25,961,231 · related or exempt $25,961,231

• 3 · Investment income

  total $14,921,312 · unrelated business $2,395 · excluded $14,918,917

• 7a · Gross sales of assets other than inventory

  securities $400,924,802

• 7b · Less cost or other basis and sales expenses

  securities $388,342,047

• 7c · Gain or loss

  securities $12,582,755

• 7d · Net gain or loss

  total $12,582,755 · excluded $12,582,755

• 11a · Other revenue: OTHER INCOME

  total $3,745 · related or exempt $3,745

• 11e · Other revenue, total

  $3,745

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $300,969,379

• 11b · Fees: legal

  total $265,397

• 11c · Fees: accounting

  total $140,000

• 11f · Fees: investment management

  total $902,926

• 11g · Fees: other

  total $774,297

• 13 · Office expenses

  total $423,860

• 14 · Information technology

  total $492,487

• 16 · Occupancy

  total $372,304

• 19 · Conferences, conventions and meetings

  total $29,028

• 22 · Depreciation, depletion and amortization

  total $168,673

• 23 · Insurance

  total $103,629

• 24a · Other expenses: ADMINISTRATIVE FEES

  total $11,505,387

• 24b · Other expenses: REIMB. P/R, TAXES & BEN

  total $4,155,670

• 24c · Other expenses: REPAIRS & MAINTENANCE

  total $40,199

• 24d · Other expenses: AUTO

  total $38,853

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $700 · end of year $700

• 2 · Savings and temporary cash investments

  beginning of year $68,244,301 · end of year $61,173,215

• 4 · Accounts receivable

  beginning of year $36,069,023 · end of year $35,336,158

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,927,265 · end of year $4,341,645

• 10a · Land, buildings and equipment: cost or other basis

  $7,721,444

• 10b · Land, buildings and equipment: accumulated depreciation

  $7,130,031

• 10c · Land, buildings and equipment, net

  beginning of year $595,704 · end of year $591,413

• 11 · Investments: publicly traded securities

  beginning of year $201,277,683 · end of year $322,828,780

• 12 · Investments: other securities

  beginning of year $523,991,919 · end of year $458,415,319

• 15 · Other assets

  beginning of year $10,774,444 · end of year $12,369,697

• 17 · Accounts payable and accrued expenses

  beginning of year $3,667,444 · end of year $3,515,036

• 25 · Other liabilities

  beginning of year $37,340,713 · end of year $40,679,902

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $0 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $803,872,882 · end of year $850,861,989

The filer's explanations (Part III)

PART I, LINE 4B

THE EXECUTIVE DIRECTOR RETIRED EFFECTIVE 6/30/2022 AND PARTICIPATES IN A DEFERRED COMPENSATION PLAN, PROVIDED BY A RELATED ORGANIZATION, IN HIS CAPACITY AS EXECUTIVE DIRECTOR OF THIS ENTITY AND RELATED ORGANIZATIONS.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• SEE SCHEDULE R SUPPLEMENTAL INFORMATION