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Nonprofiteer
← WASHOE COUNTY SCHOOL DISTRICT OPEB TRUST

Form 990 for tax year 2022

Filed by WASHOE COUNTY SCHOOL DISTRICT OPEB TRUST.

Totals

Total revenue
$9,290,245
Total expenses
$6,966,073
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$7,958,181
Investment income
$1,332,064
Other revenue
$0
Total assets, end of year
$82,590,905
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$82,590,905
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

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: Retiree Contributions

    total $5,858,202 · related or exempt $5,858,202

  • 2b · Program service revenue: Employer Contributions

    total $2,099,979 · related or exempt $2,099,979

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $1,649,827 · unrelated business $1,649,827

  • 6c · Rental income or loss

    real property $0 · personal property $0

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

    securities $317,763

  • 7c · Gain or loss

    securities -$317,763 · other assets $0

  • 7d · Net gain or loss

    total -$317,763 · unrelated business -$317,763

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $6,954,077

  • 11c · Fees: accounting

    total $11,996

  • 11g · Fees: other

    total $0

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $3,302,718 · end of year $4,319,364

  • 4 · Accounts receivable

    beginning of year $23,673

  • 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

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $72,302,601 · end of year $78,271,541

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,768

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $75,618,224 · end of year $82,590,905

Mission and programs · 2022

Mission

THE WASHOE COUNTY SCHOOL DISTRICT OPEB TRUST WAS ESTABLISHED TO PROVIDE A TAX-EXEMPT FUNDING VEHICLE FOR HEALTH BENEFITS PROVIDED TO RETIREES OF WASHOE COUNTY SCHOOL DISTRICT, INCLUDING HEALTH INSURANCE COVERAGE, CONTRIBUTIONS TO THE NEVADA PUBIC EMPLOYEES BENEFITS PROGRAM FOR RETIREES, LIFE INSURANCE COVERAGE, DENTAL BENEFIT COVERAGE, AND VISION BENEFIT COVERAGE. WASHOE COUNTY SCHOOL DISTRICT WILL MAKE CONTRIBUTIONS TO THE TRUST FUND FOR THESE BENEFITS, AND THE TRUST FUND WILL MAKE PAYMENTS FOR THESE BENEFITS FOR THE ELIGIBLE RETIREES OF THE DISTRICT. THE TRUST FUND ASSETS ALSO MAY BE USED TO PAY FOR THE ADMINISTRATIVE EXPENSES OF MAINTAINING THE TRUST FUND.

Activities or mission (Part I)

Provide Health and Welfare benefits to retirees.

  • N/A

As filed on the 2022 return.

Listed in Part VII

  • Fran McGregor

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Mark Mathers

    CFO

    Total calculated
    $248,500
    From this org
    $0
    From related orgs
    $180,168
    Other
    $68,332
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $180,168 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $53,753 related
    Nontaxable benefits
    $0 + $14,579 related
    Filer's total
    $0 + $248,500 related

  • Danny Kitts

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey Kirst

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Mary Lamonte

    Trustee

    Total calculated
    $0
    Hours/week
    1

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

None.

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.

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.

  • Washoe County School District

    501(c)(1) · School District · NV

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202411349349304626

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