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← KEN-CREST WORKERS COMPENSATION TRUST

Form 990 for tax year 2023

Filed by KEN-CREST WORKERS COMPENSATION TRUST.

Totals

Total revenue
$2,445,453
Total expenses
$2,749,732
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,272,529
Investment income
$172,924
Other revenue
$0
Total assets, end of year
$3,125,765
Total liabilities, end of year
$4,680,373
Net assets or fund balances, end of year
-$1,554,608
Program services expenses (Part IX)
$2,517,542
Management and general expenses
$232,190
Fundraising expenses
$0
Program service expenses (Part III)
$2,517,542

Program services were 91.6% 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: INSURANCE CONTRIBUTIONS

    total $1,739,365 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: INSURANCE RECOVERIES

    total $533,164 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $172,924 · unrelated business $0 · excluded $172,924

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,950,307 · program services $1,950,307

  • 11c · Fees: accounting

    total $29,259 · program services $0 · management and general $29,259 · fundraising $0

  • 24a · Other expenses: CLAIMS PROCESSING

    total $51,497 · program services $51,497 · management and general $0 · fundraising $0

  • 24b · Other expenses: BILL REPRICING

    total $26,894 · program services $26,894 · management and general $0 · fundraising $0

  • 24c · Other expenses: EXCESS INSURANCE

    total $488,844 · program services $488,844 · management and general $0 · fundraising $0

  • 24d · Other expenses: ADMINISTRATION COSTS

    total $202,931 · program services $0 · management and general $202,931 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,367,220 · end of year $3,125,765

  • 25 · Other liabilities

    beginning of year $5,225,828 · end of year $4,680,373

  • 27 · Net assets without donor restrictions

    beginning of year -$1,858,608 · end of year -$1,554,608

Mission and programs · 2023

Mission

THE TRUST WAS ESTABLISHED FOR THE PURPOSE OF PROVIDING A SOURCE OF FUNDS AND MAINTAINING ADEQUATE RESERVES FOR THE PAYMENT OF WORKERS COMPENSATION BENEFITS AND RELATED CLAIMS.

  • PAYMENT OF WORKERS COMPENSATION BENEFITS AND RELATED CLAIMS.

    Expenses $2,517,542 · Revenue $2,445,453

As filed on the 2023 return.

Listed in Part VII

  • Jeff Bogacki

    COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Colleen Kelly

    COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Sean Connell

    COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    5

  • James O'Connor

    COMMITTEE MEMBER

    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.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
31 December 2024
IRS schema version
2023v6.0
Source object
202540569349301764

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