Form 990 for tax year 2023
Filed by NATIONAL TELECOMMUNICATIONS COOP ASSOC RGNL RETRE MED FNDNG TRUST I.
Totals
- Total revenue
- $5,519,872
- Total expenses
- $53,378
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $600,000
- Investment income
- $4,919,872
- Other revenue
- $0
- Total assets, end of year
- $131,564,786
- Total liabilities, end of year
- $1,455
- Net assets or fund balances, end of year
- $131,563,331
- 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: RETIREMENT FUNDING
total $600,000 · related or exempt $600,000
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $3,958,553 · excluded $3,958,553
-
6c · Rental income or loss
real property $0 · personal property $0
-
7a · Gross sales of assets other than inventory
securities $10,636,853
-
7b · Less cost or other basis and sales expenses
securities $9,675,534
-
7c · Gain or loss
securities $961,319 · other assets $0
-
7d · Net gain or loss
total $961,319 · excluded $961,319
-
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.
-
11a · Fees: management
total $29,051
-
11c · Fees: accounting
total $11,625
-
11f · Fees: investment management
total $6,195
-
11g · Fees: other
total $0
-
23 · Insurance
total $6,446
-
24a · Other expenses: Miscellaneous
total $61
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $288,257 · end of year $356,569
-
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
-
9 · Prepaid expenses and deferred charges
beginning of year $5,431 · end of year $5,076
-
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
-
11 · Investments: publicly traded securities
beginning of year $95,607,817 · end of year $105,038,644
-
12 · Investments: other securities
beginning of year $18,012,276 · end of year $26,164,497
-
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 $708 · end of year $1,455
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $16,505 · end of year $0
-
29 · Capital stock, trust principal or current funds
beginning of year $113,896,568 · end of year $131,563,331
Mission and programs · 2023
Mission
To provide NTCA member companies domiciled in North Carolina, South Carolina, and Tennessee with a funding vehicle to help meet their liabilities for sickness, accident and other welfare benefits for eligible current and former employees upon retirement.
Activities or mission (Part I)
To act as an adequate funding vehicle for assisting its members in providing benefits.
-
Provided certain NTCA member systems domiciled in the states of North Carolina, South Carolina and Tennessee with a funding vehicle to help meet their liabilities for sickness, accident, and other welfare benefits provided for eligible current and former employees upon retirement.
As filed on the 2023 return.
Listed in Part VII
-
Jimmy Todd
Vice Chair
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Thomas E Preston
Chair
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Candace Wright
Trustee
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Crystal Morley
Trustee
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Dustin Durden
Trustee
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Holly Utke
Trustee
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Jennifer L Prather
Trustee
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Kevin Beyer
Trustee
- Total calculated
- $0
- Hours/week
- 1 + 6 related
-
Mano Koilpillai
NTCA Chief Financial Officer
- Total calculated
- $368,368
- From this org
- $0
- From related orgs
- $261,896
- Other
- $106,472
- Hours/week
- 1 + 42.5 related
Schedule J breakdown matched by us
- Base
- $0 + $235,896 related
- Bonus
- $0 + $26,000 related
- Other
- $0
- Deferred
- $0 + $71,370 related
- Nontaxable benefits
- $0 + $35,102 related
- Filer's total
- $0 + $368,368 related
-
Shirley Bloomfield
Chief Executive Officer
- Total calculated
- $1,323,208
- From this org
- $0
- From related orgs
- $1,039,580
- Other
- $283,628
- Hours/week
- 1 + 42.5 related
Schedule J breakdown matched by us
- Base
- $0 + $865,175 related
- Bonus
- $0 + $173,760 related
- Other
- $0 + $645 related
- Deferred
- $0 + $256,165 related
- Nontaxable benefits
- $0 + $27,463 related
- Filer's total
- $0 + $1,323,208 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
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- Schedule J, Part I, Line 3
- The organization's top management officials are employed and compensated by National Telecommunications Cooperative Association (NTCA), a reated organization, and regional retiree medical funding trust I relies on NTCA to establish reasonable compensation. The chief executive officer's compensation is reviewed by an independent compensation consultant that does a comparison of like positions in the area and presents the study to the NTCA board for approval. This process is documented in the board meeting minutes. This process was last conducted in 2018. However, the annual salary increase and bonus for the CEO are approved by the board every year while the independent consultant study is being done once every five years. Other officers key employees' compensation is reviewed by a compensation consultant every five years. Changes in compensation are presented and approved by the chief executive officer. This process was last reviewed internally by the association in 2020.
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.
-
National Telecommunications Cooperative Association (NTCA)
501(c)(6) · Trade Association · VA
Directly controlled by NA
-
NTCA Master Trust for Deferred Comp Plans
501(c)(9) · Deferred Compensation · VA
Directly controlled by NTCA
-
NTCA Retirement and Security Program
501(c)(9) · Defined Benefit Plan · VA
Directly controlled by NTCA
-
NTCA Savings Plan
501(c)(9) · Defined Contribution Plan · VA
Directly controlled by NTCA
-
NTCA Regional Retiree Medical Funding Trust II
501(c)(9) · Post Retirement Benefits · DC
Directly controlled by NTCA
-
501(c)(9) · Health Benefits · VA
Directly controlled by NTCA
-
501(c)(3) · Promote, Educate, and Advance Rural Communications · VA
Directly controlled by NTCA
-
National Telecommunications Cooperative Association Rural Broadband PAC
527 · Voluntary, Non-Partisan Political Action Committee · VA
Directly controlled by NTCA
-
Ben Lomand Rural Telephone Coop
501(c)(12) · Post Retirement Benefit Plans · TN
Directly controlled by NA
-
501(c)(12) · Post Retirement Benefit Plans · TN
Directly controlled by NA
-
501(c)(12) · Post Retirement Benefit Plans · TN
Directly controlled by NA
-
Farmers Tele Coop Inc
501(c)(12) · Post Retirement Benefit Plans · SC
Directly controlled by NA
-
501(c)(12) · Post Retirement Benefit Plans · TN
Directly controlled by NA
-
Piedmont Rural Telephone Coop Inc
501(c)(12) · Post Retirement Benefit Plans · SC
Directly controlled by NA
-
501(c)(12) · Post Retirement Benefit Plans · SC
Directly controlled by NA
-
Twin Lakes Telephone Coop
501(c)(12) · Post Retirement Benefit Plans · TN
Directly controlled by NA
-
Randolph Telephone Membership Corp
501(c)(12) · Post Retirement Benefit Plans · NC
Directly controlled by NA
-
Surry Telephone
501(c)(12) · Post Retirement Benefit Plans · NC
Directly controlled by NA
-
Yadkin Valley Telephone
501(c)(12) · Post Retirement Benefit Plans · NC
Directly controlled by NA
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 corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
Services Management Corporation
C Corporation · Administer Benefit Plans · NC
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202433199349311563
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.