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Nonprofiteer
← CRUDEN BAY RISK RETENTION GROUP INC

Form 990 for tax year 2023

Filed by CRUDEN BAY RISK RETENTION GROUP INC.

Totals

Total revenue
$6,178,150
Total expenses
$6,363,676
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$3,690,000
Investment income
$2,488,150
Other revenue
$0
Total assets, end of year
$18,330,052
Total liabilities, end of year
$16,387,285
Net assets or fund balances, end of year
$1,942,767
Program services expenses (Part IX)
$6,183,357
Management and general expenses
$180,319
Fundraising expenses
$0
Program service expenses (Part III)
$6,183,357

Program services were 97.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • ROBERT D BRIDGES

    TREASURER AND DIRECTOR (TO AUG '23)

    Total calculated
    $1,683,126
    From this org
    $0
    From related orgs
    $1,617,233
    Other
    $65,893
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $34,961 related
    Bonus
    $0 + $285,493 related
    Other
    $0 + $1,296,779 related
    Deferred
    $0 + $34,743 related
    Nontaxable benefits
    $0 + $31,150 related
    Filer's total
    $0 + $1,683,126 related

  • RODNEY MCKENDREE

    PRESIDENT AND TREASURER

    Total calculated
    $1,428,739
    From this org
    $0
    From related orgs
    $1,248,488
    Other
    $180,251
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $822,072 related
    Bonus
    $0 + $289,940 related
    Other
    $0 + $136,476 related
    Deferred
    $0 + $130,220 related
    Nontaxable benefits
    $0 + $50,031 related
    Filer's total
    $0 + $1,428,739 related

  • DR MICHAEL ERHARD

    DIRECTOR (FROM AUG '23)

    Total calculated
    $1,165,489
    From this org
    $0
    From related orgs
    $1,005,928
    Other
    $159,561
    Hours/week
    2 + 43 related

    Schedule J breakdown matched by us

    Base
    $0 + $676,645 related
    Bonus
    $0 + $236,833 related
    Other
    $0 + $92,450 related
    Deferred
    $0 + $104,426 related
    Nontaxable benefits
    $0 + $55,135 related
    Filer's total
    $0 + $1,165,489 related

  • LAURA KOWAL

    DIRECTOR (FROM AUG '23)

    Total calculated
    $691,838
    From this org
    $0
    From related orgs
    $603,012
    Other
    $88,826
    Hours/week
    2 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $462,316 related
    Bonus
    $0 + $121,463 related
    Other
    $0 + $19,233 related
    Deferred
    $0 + $46,142 related
    Nontaxable benefits
    $0 + $42,684 related
    Filer's total
    $0 + $691,838 related

  • JOHN LORD

    PRESIDENT AND DIRECTOR (TO AUG '23)

    Total calculated
    $153,931
    From this org
    $0
    From related orgs
    $153,931
    Other
    $0
    Hours/week
    2 + 15 related

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $153,931 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $153,931 related

  • RYAN GADAPEE

    SECRETARY AND DIRECTOR (FROM AUG '23)

    Total calculated
    $0
    Hours/week
    2

  • JEFFREY P JOHNSON

    SECRETARY AND DIRECTOR (TO (AUG '23)

    Total calculated
    $0
    Hours/week
    2

  • WILLIAM W HIGGINBOTHAM II

    ASSISTANT TREASURER

    Total calculated
    $616,753
    From this org
    $0
    From related orgs
    $520,224
    Other
    $96,529
    Hours/week
    3 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $362,922 related
    Bonus
    $0 + $108,939 related
    Other
    $0 + $48,363 related
    Deferred
    $0 + $42,700 related
    Nontaxable benefits
    $0 + $53,829 related
    Filer's total
    $0 + $616,753 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINES 4A-B
IN 2023, THE FOLLOWING WE PAID SEVERANCE FROM THE NEMOURS FOUNDATION: ROBERT D. BRIDGES $772,332 THE NEMOURS FOUNDATION MAINTAINED A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN ("SERP") FOR MOST OF THE MEMBERS OF THE NEMOURS EXECUTIVE TEAM AS DETERMINED BY THE BOARD OF DIRECTORS. THE SERP PROVIDES EACH PARTICIPANT AN EMPLOYER PROVIDED ANNUAL "FLEXIBLE" BENEFIT ALLOWANCE IN THE FORM OF DOLLAR CREDITS WHICH THE PARTICIPANT MAY APPLY TO ANY OF THE BENEFITS OFFERED UNDER THE PLAN WHICH INCLUDE INDIVIDUAL LONG-TERM DISABILITY INSURANCE, AND UNFUNDED NONQUALIFIED DEFERRED COMPENSATION BENEFITS SUBJECT TO IRC SECTION 457(F). UNDER THE PLAN, EACH OF THE PARTICIPANTS MAKES AN ANNUAL ELECTION ALLOCATING HIS OR HER FLEXIBLE BENEFIT ALLOWANCE FOR THE UPCOMING YEAR AMONG THE COMPONENT BENEFITS. THE AMOUNT OF THE FLEXIBLE BENEFIT ALLOWANCE MAY VARY AMOUNG THE PARTICIPANTS AS DETERMINED BY NEMOURS AND NEMOURS MAY DISCONTINUE THE FLEXIBLE BENEFIT ALLOWANCES AT ANY TIME. IN 2023, THE FOLLOWING WERE PAID FROM THE SERP: RODNEY MCKENDREE $134,169 MICHAEL ERHARD MD $62,595 WILLIAM W. HIGGINBOTHAM II $39,425 ROBERT D. BRIDGES $406,009

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
7 November 2024
IRS schema version
2023v5.1
Source object
202413129349305001

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