Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: PREMIUMS

  total $26,973,230 · related or exempt $26,973,230

• 3 · Investment income

  total $170,579 · excluded $170,579

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $21,160,758

• 5 · Compensation of officers, directors and key employees

  total $143,973

• 7 · Other salaries and wages

  total $91,266

• 11b · Fees: legal

  total $7,727

• 11c · Fees: accounting

  total $158,922

• 11g · Fees: other

  total $3,595

• 12 · Advertising and promotion

  total $1,095

• 13 · Office expenses

  total $2,478

• 14 · Information technology

  total $19,461

• 16 · Occupancy

  total $21,301

• 17 · Travel

  total $960

• 23 · Insurance

  total $34,390

• 24a · Other expenses: INSURANCE PREMIUM EXPEN

  total $4,386,543

• 24b · Other expenses: NON STOP FEES

  total $1,660,231

• 24c · Other expenses: CNA ADMIN FEES

  total $1,477

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $2,238,768 · end of year $2,143,500

• 4 · Accounts receivable

  beginning of year $2,161,868 · end of year $3,066,238

• 9 · Prepaid expenses and deferred charges

  beginning of year $803,002 · end of year $13,003

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

  $42,400

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

  $42,400

• 10c · Land, buildings and equipment, net

  beginning of year $0 · end of year $0

• 15 · Other assets

  beginning of year $3,243 · end of year $3,243

• 17 · Accounts payable and accrued expenses

  beginning of year $1,877,298 · end of year $54,203

• 19 · Deferred revenue

  beginning of year $1,783,210 · end of year $2,347,611

• 25 · Other liabilities

  beginning of year $16,677 · end of year $16,512

• 27 · Net assets without donor restrictions

  beginning of year $1,529,696 · end of year $2,807,658

The filer's explanations (Part III)

PART I, LINE 3

THE CENTER FOR NONPROFIT ADVANCEMENT BENEFITS TRUST DOES NOT PAY THE SALARY FOR GLEN O'GILVIE, CHIEF EXECUTIVE OFFICER AND TAYLOR STRANGE, CHIEF OPERATING OFFICER. THE SALARY IS PAID BY THE RELATED ORGANIZATION, CENTER FOR NONPROFIT ADVANCEMENT. THE CHIEF EXECUTIVE OFFICER'S AND CHIEF OPERATING OFFICER'S SALARY IS DETERMINED BY AN INDEPENDENT SEARCH FIRM BASED ON A STUDY OF COMPENSATION OF SIMILAR POSITIONS AND ORGANIZATION. IN ADDITION, THE RELATED ORGANIZATION COMPARES COMPENSATION TO OTHER ORGANIZATION AND IS APPROVED BY BOARD MEMBERS. THE CENTER COMPENSATES ELISHA HARDY, TRUST MANAGER, THE TRUST REIMBURSES THE CENTER FOR THE TRUST MANAGER.