Form 990 for tax year 2024
Filed by ST PAUL TEACHERS RETIREMENT FUND ASSOCIATION.
Totals
- Total revenue
- $301,193,640
- Total expenses
- $130,572,055
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $67,576,972
- Investment income
- $216,369,286
- Other revenue
- $17,247,382
- Total assets, end of year
- $1,473,241,708
- Total liabilities, end of year
- $39,305,304
- Net assets or fund balances, end of year
- $1,433,936,404
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $127,732,660
Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: Member Contributions
total $24,596,789 · related or exempt $24,596,789 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Employer Contributions
total $42,980,183 · related or exempt $42,980,183 · unrelated business $0 · excluded $0
-
3 · Investment income
total $17,087,744 · related or exempt $17,087,744 · unrelated business $0 · excluded $0
-
4 · Income from investment of tax-exempt bond proceeds
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
5 · Royalties
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
7a · Gross sales of assets other than inventory
securities $199,281,542 · other assets $0
-
7b · Less cost or other basis and sales expenses
securities $0 · other assets $0
-
7c · Gain or loss
securities $199,281,542 · other assets $0
-
7d · Net gain or loss
total $199,281,542 · related or exempt $199,281,542 · unrelated business $0 · excluded $0
-
11a · Other revenue: State of MN Funding
total $17,202,607 · related or exempt $17,202,607 · unrelated business $0 · excluded $0
-
11b · Other revenue: Security Lending Net Income
total $44,775 · related or exempt $44,775 · unrelated business $0 · excluded $0
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$17,247,382
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $126,714,940
-
5 · Compensation of officers, directors and key employees
total $111,240
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $349,452
-
8 · Pension plan contributions
total $57,971
-
9 · Other employee benefits
total $57,291
-
10 · Payroll taxes
total $34,121
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $39,007
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $2,839,395
-
11g · Fees: other
total $69,303
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $37,957
-
14 · Information technology
total $196,129
-
15 · Royalties
total $0
-
16 · Occupancy
total $47,950
-
17 · Travel
total $8,337
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $6,281
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $2,681
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $0
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $13,085,323 · end of year $5,808,008
-
2 · Savings and temporary cash investments
beginning of year $15,134,568 · end of year $13,588,196
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $1,656,994 · end of year $1,758,687
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $0 · end of year $0
-
10c · Land, buildings and equipment, net
beginning of year $0
-
11 · Investments: publicly traded securities
beginning of year $1,084,646,232 · end of year $1,210,406,957
-
12 · Investments: other securities
beginning of year $244,706,842 · end of year $240,723,450
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $673,442 · end of year $956,410
-
17 · Accounts payable and accrued expenses
beginning of year $24,866,025 · end of year $39,305,304
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $0
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
29 · Capital stock, trust principal or current funds
beginning of year $1,335,037,376 · end of year $1,433,936,404
-
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 $0 · end of year $0
Mission and programs · 2024
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.
Activities or mission (Part I)
Retirement fund for St Paul school district teachers
-
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.
Expenses $127,732,660 · Revenue $226,631,689
As filed on the 2024 return.
Listed in Part VII
-
Phillip Tencick
Executive Director
- Total calculated
- $154,500
- From this org
- $154,500
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $154,500
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $25,907
- Filer's total
- $180,407
-
Michael McCollor
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Karen Odegard
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Lori Borgeson
President
- Total calculated
- $0
- Hours/week
- 2
-
Matt Bogenschultz
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Michael McKay
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Margaret Schiller
Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
Thomas Koreltz
Secretary
- Total calculated
- $0
- Hours/week
- 2
-
Stephanie Piganto
Vice President
- Total calculated
- $0
- Hours/week
- 2
-
Karen Martinsen
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Halla Henderson
Ex-Officio
- Total calculated
- $0
- Hours/week
- 2
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
- 3 · Compensation committee
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
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.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 17 March 2026
- IRS schema version
- 2024v5.0
- Source object
- 202600769349301405
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