I S T A INSURANCE TRUST: Form 990, tax year 2009
View the entire original 990 at ProPublica ↗
- Organization
- I S T A INSURANCE TRUST (EIN 31-1151545)
- Tax period
- 2009-09-01 to 2010-08-31
- Filed
- 2012-07-09
- IRS object ID
- 201221919349300532
- Schema version
- 2009v1.7
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule D
- Schedule F
- Schedule J
- Schedule L
- Schedule N
- Schedule O
- Schedule R
- Reasonable Cause Explanation
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-07-09T13:52:38-05:00 | Timestamp |
| Tax Period End Date | 2010-08-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BDO USA LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 633 THIRD AVENUE 13TH FLOOR | AddressLine1 |
| City | NEW YORK | City |
| State | NY | State |
| ZIP Code | 10017 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2009-09-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 311151545 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ISTA INSURANCE TRUST | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | ISTA | NameControl |
| Phone | 3172633330 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 150 WEST MARKET STREET No 830 | AddressLine1 |
| City | INDIANAPOLIS | City |
| State | IN | State |
| ZIP Code | 46204 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | EDWARD SULLIVAN | Name |
| Title | TRUSTEE | Title |
| Phone | 3172633330 | Phone |
| Date Signed | 2012-07-09 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | EDUARDO SINGERMAN CPA | Name |
| Phone | 2123155000 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2009 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | EDWARD SULLIVAN | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 150 W MARKET ST | AddressLine1 |
| City | INDIANAPOLIS | City |
| State | IN | State |
| ZIP Code | 46204 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 3147023 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | N/A | WebSite |
| Type Of Organization Trust | X | TypeOfOrganizationTrust |
| Year Formation | 1985 | YearFormation |
| State Legal Domicile | IN | StateLegalDomicile |
| Activity Or Mission Description | TO PROVIDE AFFORDABLE HEALTH AND WELFARE INSURANCE COVERAGE TO EMPLOYEES OF PARTICIPATING INDIANA K-12 PUBLIC SCHOOLS. | ActivityOrMissionDescription |
| Termination Or Contraction | X | TerminationOrContraction |
| Nbr Voting Members Governing Body | 9 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 5 | NbrIndependentVotingMembers |
| Total Nbr Employees | 0 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | -95336 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -120220 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 84707013 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 1442493 | ProgramServiceRevenueCY |
| Investment Income Prior Year | -2062382 | InvestmentIncomePriorYear |
| Investment Income Current Year | -212444 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | -120514 | OtherRevenuePriorYear |
| Other Revenue Current Year | -116702 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 82524117 | TotalRevenuePriorYear |
| Total Revenue Current Year | 1113347 | TotalRevenueCurrentYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 66487462 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 1475659 | BenefitsPaidToMembersCY |
| Salaries Etc Current Year | 0 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 19305062 | OtherExpensePriorYear |
| Other Expenses Current Year | 3258194 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 85792524 | TotalExpensesPriorYear |
| Total Expenses Current Year | 4733853 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -3268407 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -3620506 | RevenuesLessExpensesCY |
| Total Assets BOY | 13527108 | TotalAssetsBOY |
| Total Assets EOY | 14157983 | TotalAssetsEOY |
| Total Liabilities BOY | 56789451 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 57678693 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | -43262343 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | -43520710 | NetAssetsOrFundBalancesEOY |
| Mission Description | TO PROVIDE AFFORDABLE HEALTH AND WELFARE INSURANCE COVERAGE TO EMPLOYEES OF PARTICIPATING INDIANA K-12 PUBLIC SCHOOLS. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 1961377 | Expense |
| Description | THE I.S.T.A. INSURANCE TRUST PROVIDES BENEFITS INCLUDING LIFE, AD&D, VISION AND LONG-TERM DISABILITY TO THE EMPLOYEES OF PARTICIPATING INDIANA K-12 PUBLIC SCHOOLS. | Description |
| Total Program Service Expense | 1961377 | TotalProgramServiceExpense |
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Balance Sheet Amounts Reported | 1 | BalanceSheetAmountsReported |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 1 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 1 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 1 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 8 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 0 | NumberOfEmployees |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Nbr Voting Governing Body Members | 9 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 5 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 1 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 1 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 1 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 0 | MinutesOfCommittees |
| Officer Mailing Address | 1 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 0 | ConflictOfInterestPolicy |
| Whistleblower Policy | 0 | WhistleblowerPolicy |
| Document Retention Policy | 0 | DocumentRetentionPolicy |
| Compensation Process CEO | 0 | CompensationProcessCEO |
| Compensation Process Other | 0 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | IN | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EDWARD SULLIVAN | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 2023558658 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 150 WEST MARKET STREET SUITE 900 | AddressLine1 |
| City | INDIANAPOLIS | City |
| State | IN | State |
| ZIP Code | 46204 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | X | NoListedPersonsCompensated |
Form990 Part VII Section A Form990PartVIISectionA (15 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | FormerFormer |
|---|---|---|---|---|---|---|
| R STEPHEN GOOKINS | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| KATHY PARKS | ||||||
| TRUSTEE | 1.00 | X | 0 | 5000 | 0 | |
| EDWARD SULLIVAN | ||||||
| TRUSTEE & CEO | 1.00 | X | 0 | 118400 | 0 | |
| TOM EDINGTON | ||||||
| TRUSTEE (REMOVED) | 1.00 | X | 0 | 0 | 0 | |
| J SUE KELLY | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| DAVID ORENTLICHER | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| BRENDA PIKE | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| NATHAN SCHNELLENBERGER | ||||||
| TRUSTEE | 1.00 | X | 0 | 168065 | 66047 | |
| JOHN F SPRINGER | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| FREDERICK J SUMAN | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| ANN CLARK | ||||||
| TRUSTEE (RESIGNED) | 1.00 | X | 0 | 0 | 0 | |
| WARREN WILLIAMS | ||||||
| FORMER TRUSTEE AND CEO | 1.00 | 0 | 79734 | 40031 | X | |
| ROBERT FRANKEL | ||||||
| FORMER DIRECTOR | 20.00 | 0 | 84382 | 31856 | X | |
| JUDITH BRIGANTI | ||||||
| FORMER TRUSTEE | 0.00 | 0 | 12951 | 0 | X | |
| BRUCE ROGERS | ||||||
| FORMER DIRECTOR | 0.00 | 0 | 14203 | 24653 | X | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 0 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 482735 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 162587 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | 1 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| UNITED HEALTHCARE (UHC) | |||||
| 7440 WOODLAND DRIVE DEPT 100 | INDIANAPOLIS | IN | 46278 | CLAIM ADMINISTRATION | 1379847 |
| NOVIA CARE CLINICS | |||||
| 429 NORTH PENNSYLVANIA STREET | INDIANAPOLIS | IN | 46204 | MEDICAL CONSULTING | 196684 |
| MORGAN STANLEY | |||||
| 280 EAST 96 STREET | INDIANAPOLIS | IN | 46240 | CUSTODIAN AND INVESTMENT MANAGEMENT | 123939 |
| ICE MILLER | |||||
| PO BOX 663633 | INDIANAPOLIS | IN | 46266 | LEGAL COUNSELING | 114971 |
| HUTTLESTON BENEFIT GROUP INC | |||||
| 7941 TREE LANE SUITE 200 | MADISON | WI | 53717 | ACTUARIAL AND CONSULTING | 102507 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 5 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | INSURANCE PREMIUMS | Description |
| Business Code | 900099 | BusinessCode |
| Total Revenue Column | 1442493 | TotalRevenueColumn |
| Related Or Exempt Function Income | 1442493 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 1442493 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 101 | TotalRevenueColumn |
| Exclusion | $101 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 1821131 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 2033676 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -212545 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -212545 | TotalRevenueColumn |
| Unrelated Business Revenue | 21366 | UnrelatedBusinessRevenue |
| Exclusion | -$233,911 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | PASS THROUGH LOSS FN 1 | Description |
| Business Code | 900001 | BusinessCode |
| Total Revenue Column | -116702 | TotalRevenueColumn |
| Unrelated Business Revenue | -116702 | UnrelatedBusinessRevenue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | -116702 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1113347 | TotalRevenueColumn |
| Related Or Exempt Function Income | 1442493 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | -95336 | UnrelatedBusinessRevenue |
| Exclusion | -$233,810 | ExclusionAmount |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1475659 | Total |
| Program Services | 1475659 | ProgramServices |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 56627 | Total |
| Management And General | 56627 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2298860 | Total |
| Management And General | 2298860 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 331536 | Total |
| Management And General | 331536 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 27163 | Total |
| Management And General | 27163 | ManagementAndGeneral |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1138 | Total |
| Management And General | 1138 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 47897 | Total |
| Management And General | 47897 | ManagementAndGeneral |
Other Expenses OtherExpenses (2 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| INSURANCE PREMIUMS FN 2 | 485718 | 485718 | |
| MISCELLANOUS EXPENSES | 9255 | 9255 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4733853 | Total |
| Program Services | 1961377 | ProgramServices |
| Management And General | 2772476 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 6866 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 921170 | BOY |
| EOY | 746819 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 171949 | BOY |
| EOY | 17324 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 175907 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 11365273 | BOY |
| EOY | 13211067 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1068716 | BOY |
| EOY | 0 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13527108 | BOY |
| EOY | 14157983 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 692352 | BOY |
| EOY | 168638 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 56097099 | BOY |
| EOY | 57510055 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 56789451 | BOY |
| EOY | 57678693 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -43262343 | BOY |
| EOY | -43520710 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -43262343 | BOY |
| EOY | -43520710 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13527108 | BOY |
| EOY | 14157983 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 0 | FSAudited |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 0 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (2 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| HEDGE FUNDS | 111081 | F |
| PRIVATE EQUITY FUNDS | 13099986 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 13211067 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities (4 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| LONG-TERM DISABILITY RESERVE | $35,280,000 |
| RETIRED LIFE RESERVE | $170,000 |
| CLAIMS STABILIZATION RESERVE | $7,168,662 |
| AMOUNTS DUE TO AFFILIATES | $14,891,393 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 57510055 | TotalOfAmounts |
| Total Revenue | 1113347 | TotalRevenue |
| Total Expenses | 4733853 | TotalExpenses |
| Excess Or Deficit For Year | -3620506 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | 3266803 | NetUnrealizedGLOnInvestments |
| Other | $95,336 | OtherAmount |
| Total Adjustments | 3362139 | TotalAdjustments |
| Excess Or Deficit Per FS | -258367 | ExcessOrDeficitPerFS |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Part XI, Line 8 - Other Adjustments: | Identifier |
| Explanation | PASS-THROUGH LOSSES FROM PARTNERSHIPS FROM SCHEDULES K1, FORM 1065 | Explanation |
Schedule F IRS990ScheduleF
Accts Actvs Out US Table AcctsActvsOutUSTable
| Field | Value | IRS element (for citing) |
|---|---|---|
| Region | CENTRAL AMERICA AND THE CARIBBEAN | Region |
| Type Of Activities Conducted | INVESTMENTS | TypeOfActivitiesConducted |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Number Of Offices | 0 | TotalNumberOfOffices |
| Total Number Of Employees | 0 | TotalNumberOfEmployees |
| Total Amount Spent | 0 | TotalAmountSpent |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (5 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NATHAN SCHNELLENBERGER | |||||||||||||
| 0 | 133890 | 0 | 0 | 0 | 34175 | 0 | 28115 | 0 | 37932 | 0 | 234112 | 0 | 0 |
| WARREN WILLIAMS | |||||||||||||
| 0 | 73231 | 0 | 0 | 0 | 6503 | 0 | 15378 | 0 | 24653 | 0 | 119765 | 0 | 0 |
| ROBERT FRANKEL | |||||||||||||
| 0 | 79547 | 0 | 0 | 0 | 4835 | 0 | 16705 | 0 | 15151 | 0 | 116238 | 0 | 0 |
| JUDITH BRIGANTI | |||||||||||||
| 0 | 0 | 0 | 0 | 0 | 12951 | 0 | 0 | 0 | 0 | 0 | 12951 | 0 | 0 |
| BRUCE ROGERS | |||||||||||||
| 0 | 0 | 0 | 0 | 0 | 14203 | 0 | 0 | 0 | 24653 | 0 | 38856 | 0 | 0 |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV (7 entries)
| RelationshipRelationship | Amount Of TransactionAmountOfTransaction | Description Of TransactionDescriptionOfTransaction | Sharing Of RevenuesSharingOfRevenues |
|---|---|---|---|
| ISTA ASC | |||
| COMMON CONTROL | 27860 | ADMINISTRATIVE FEE | 0 |
| ISTA FSC | |||
| COMMON CONTROL | 27860 | ADMINISTRATIVE FEE | 0 |
| ISTA FSC | |||
| COMMON CONTROL | 765963 | COLLECTION OF NET RECEIVABLE | 0 |
| ISTA ASC | |||
| COMMON CONTROL | 302753 | COLLECTION OF NET RECEIVABLE | 0 |
| INDIANA STATE TEACHERS ASSOCIATION | |||
| CONTROLLING ORGANIZATION | 7862956 | ADVANCES TO FUND: A) LONG-TERM DISABILITY CLAIMS, B) CAPITAL CALLS, C) LEGAL FEES | 0 |
| ISTA ASC | |||
| COMMON CONTROL | 475 | INSURANCE PREMIUMS RECEIVED | 0 |
| INDIANA STATE TEACHERS ASSOCIATION | |||
| CONTROLLING ORGANIZATION | 67557 | INSURANCE PREMIUMS RECEIVED | 0 |
Schedule N IRS990ScheduleN
Disposition Table DispositionTable (16 entries)
| Description Of AssetDescriptionOfAsset | Date Of DistributionDateOfDistribution | FMV Of AssetFMVOfAsset | Method Of FMV DeterminationMethodOfFMVDetermination | Address Line1AddressForeign/AddressLine1 | CityAddressForeign/City | Province Or StateAddressForeign/ProvinceOrState | CountryAddressForeign/Country | Postal CodeAddressForeign/PostalCode | IRC SectionIRCSection | EINEIN | Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SAIL PACIFIC EXPLORER FUND | ||||||||||||||
| INTEREST IN HEDGE FUND | 2009-10-01 | 63892 | NET ASSET VALUE | P O BOX 513 STRATHVALE HOUSE | GEORGE TOWN | GRAND CAYMAN | CJ | KY 1-1106 | IRC SECTION 1297 | |||||
| SAIL PACIFIC EXPLORER FUND S CLASS | ||||||||||||||
| INTEREST IN HEDGE FUND | 2009-10-01 | 8500 | NET ASSET VALUE | P O BOX 513 STRATHVALE HOUSE | GEORGE TOWN | GRAND CAYMAN | CJ | KY 1-1106 | IRC SECTION 1297 | |||||
| SAIL PACIFIC EXPLORER FUND S CLASS | ||||||||||||||
| INTEREST IN HEDGE FUND | 2009-11-25 | 7836 | NET ASSET VALUE | P O BOX 513 STRATHVALE HOUSE | GEORGE TOWN | GRAND CAYMAN | CJ | KY 1-1106 | IRC SECTION 1297 | |||||
| SAIL PACIFIC EXPLORER FUND | ||||||||||||||
| INTEREST IN HEDGE FUND | 2009-12-08 | 232267 | NET ASSET VALUE | P O BOX 513 STRATHVALE HOUSE | GEORGE TOWN | GRAND CAYMAN | CJ | KY 1-1106 | IRC SECTION 1297 | |||||
| UBS ACTIVIST PARTNERS LLC | ||||||||||||||
| INTEREST IN HEDGE FUND | 2010-01-26 | 1272899 | NET ASSET VALUE | LLC | 205842677 | 1285 AVENUE OF THE AMERICAS | NEW YORK | NY | 10019 | |||||
| SAIL PACIFIC EXPLORER FUND S CLASS | ||||||||||||||
| INTEREST IN HEDGE FUND | 2010-01-28 | 8367 | NET ASSET VALUE | P O BOX 513 STRATHVALE HOUSE | GEORGE TOWN | GRAND CAYMAN | CJ | KY 1-1106 | IRC SECTION 1297 | |||||
| SAIL PACIFIC EXPLORER FUND | ||||||||||||||
| INTEREST IN HEDGE FUND | 2009-12-29 | 25807 | NET ASSET VALUE | P O BOX 513 STRATHVALE HOUSE | GEORGE TOWN | GRAND CAYMAN | CJ | KY 1-1106 | IRC SECTION 1297 | |||||
| SAIL PACIFIC EXPLORER FUND S CLASS | ||||||||||||||
| INTEREST IN HEDGE FUND | 2009-10-09 | 7099 | NET ASSET VALUE | P O BOX 513 STRATHVALE HOUSE | GEORGE TOWN | GRAND CAYMAN | CJ | KY 1-1106 | IRC SECTION 1297 | |||||
| SAIL PACIFIC EXPLORER FUND S CLASS | ||||||||||||||
| INTEREST IN HEDGE FUND | 2010-03-17 | 4383 | NET ASSET VALUE | P O BOX 513 STRATHVALE HOUSE | GEORGE TOWN | GRAND CAYMAN | CJ | KY 1-1106 | IRC SECTION 1297 | |||||
| SAIL PACIFIC EXPLORER FUND S CLASS | ||||||||||||||
| INTEREST IN HEDGE FUND | 2010-04-23 | 6641 | NET ASSET VALUE | P O BOX 513 STRATHVALE HOUSE | GEORGE TOWN | GRAND CAYMAN | CJ | KY 1-1106 | IRC SECTION 1297 | |||||
| UBS ACTIVIST PARTNERS LLC | ||||||||||||||
| INTEREST IN HEDGE FUND | 2010-05-12 | 141454 | NET ASSET VALUE | LLC | 205842677 | 1285 AVENUE OF THE AMERICAS | NEW YORK | NY | 10019 | |||||
| SAIL PACIFIC EXPLORER FUND S CLASS | ||||||||||||||
| INTEREST IN HEDGE FUND | 2010-06-25 | 8899 | NET ASSET VALUE | P O BOX 513 STRATHVALE HOUSE | GEORGE TOWN | GRAND CAYMAN | CJ | KY 1-1106 | IRC SECTION 1297 | |||||
| SAIL PACIFIC EXPLORER FUND S CLASS | ||||||||||||||
| INTEREST IN HEDGE FUND | 2010-08-02 | 5313 | NET ASSET VALUE | P O BOX 513 STRATHVALE HOUSE | GEORGE TOWN | GRAND CAYMAN | CJ | KY 1-1106 | IRC SECTION 1297 | |||||
| MERIDIAN DIVERSIFIED FUND LP | ||||||||||||||
| INTEREST IN HEDGE FUND | 2010-08-05 | 1629 | NET ASSET VALUE | LIMITED PARTNERSHIP | 141832969 | 20 CORPORATE WOODS BLVD | ALBANY | NY | 12211 | |||||
| MERIDIAN DIVERSIFIED FUND LP | ||||||||||||||
| INTEREST IN HEDGE FUND | 2010-02-12 | 2101 | NET ASSET VALUE | LIMITED PARTNERSHIP | 141832969 | 20 CORPORATE WOODS BLVD | ALBANY | NY | 12211 | |||||
| MERIDIAN DIVERSIFIED FUND LP | ||||||||||||||
| INTEREST IN HEDGE FUND | 2010-05-11 | 2659 | NET ASSET VALUE | LIMITED PARTNERSHIP | 141832969 | 20 CORPORATE WOODS BLVD | ALBANY | NY | 12211 | |||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Director Of Successor2 | 0 | DirectorOfSuccessor2 |
| Employee Of Successor2 | 0 | EmployeeOfSuccessor2 |
| Owner Of Successor2 | 0 | OwnerOfSuccessor2 |
| Receive Compensation2 | 0 | ReceiveCompensation2 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (13 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| Form 990, Part VI | SECTION B, LINE 15. THE I.S.T.A. INSURANCE TRUST DOES NOT HAVE PAID EMPLOYEES OR OFFICERS. | |
| Form 990, Part VI | LINE 9: SEE CONTACT INFORMATION BELOW | |
| Form 990, Part VI, Section A, line 2 | INDIVIDUAL'S NAME: BRENDA PIKE TITLE OR ROLE: TRUSTEE INDIVIDUAL'S NAME: NATHAN SCHNELLENBERGER TITLE OR ROLE: TRUSTEE EXPLANATION OF RELATIONSHIP: BUSINESS RELATIONSHIP INDIVIDUAL'S NAME: BRENDA PIKE TITLE OR ROLE: TRUSTEE INDIVIDUAL'S NAME: KATHY PARKS TITLE OR ROLE: TRUSTEE EXPLANATION OF RELATIONSHIP: BUSINESS RELATIONSHIP INDIVIDUAL'S NAME: BRENDA PIKE TITLE OR ROLE: TRUSTEE INDIVIDUAL'S NAME: ANN CLARKE TITLE OR ROLE: TRUSTEE EXPLANATION OF RELATIONSHIP: BUSINESS RELATIONSHIP INDIVIDUAL'S NAME: BRENDA PIKE TITLE OR ROLE: TRUSTEE INDIVIDUAL'S NAME: EDWARD SULLIVAN TITLE OR ROLE: TRUSTEE EXPLANATION OF RELATIONSHIP: BUSINESS RELATIONSHIP INDIVIDUAL'S NAME: NATHAN SCHNELLENBERGER TITLE OR ROLE: TRUSTEE INDIVIDUAL'S NAME: KATHY PARKS TITLE OR ROLE: TRUSTEE EXPLANATION OF RELATIONSHIP: BUSINESS RELATIONSHIP INDIVIDUAL'S NAME: NATHAN SCHNELLENBERGER TITLE OR ROLE: TRUSTEE INDIVIDUAL'S NAME: ANN CLARK TITLE OR ROLE: TRUSTEE EXPLANATION OF RELATIONSHIP: BUSINESS RELATIONSHIP INDIVIDUAL'S NAME: NATHAN SCHNELLENBERGER TITLE OR ROLE: TRUSTEE INDIVIDUAL'S NAME: EDWARD SULLIVAN TITLE OR ROLE: TRUSTEE EXPLANATION OF RELATIONSHIP: BUSINESS RELATIONSHIP INDIVIDUAL'S NAME: KATHY PARKS TITLE OR ROLE: TRUSTEE INDIVIDUAL'S NAME: ANN CLARK TITLE OR ROLE: TRUSTEE EXPLANATION OF RELATIONSHIP: BUSINESS RELATIONSHIP INDIVIDUAL'S NAME: KATHY PARKS TITLE OR ROLE: TRUSTEE INDIVIDUAL'S NAME: EDWARD SULLIVAN TITLE OR ROLE: TRUSTEE EXPLANATION OF RELATIONSHIP: BUSINESS RELATIONSHIP INDIVIDUAL'S NAME: EDWARD SULLIVAN TITLE OR ROLE: TRUSTEE INDIVIDUAL'S NAME: ANN CLARK TITLE OR ROLE: TRUSTEE EXPLANATION OF RELATIONSHIP: BUSINESS RELATIONSHIP | |
| Form 990, Part VI, Section A, line 3 | ISTA ADMINISTRATIVE SERVICES CORPORATION ADMINISTERS THE CLAIMS FOR THE I.S.T.A. INSURANCE TRUST PRODUCTS. ISTA FINANCIAL SERVICES CORPORATION PROVIDES FINANCIAL SERVICES FOR THE I.S.T.A. INSURANCE TRUST PRODUCTS. | |
| Form 990, Part VI, Section A, line 4 | ON OCTOBER 29, 2009, THE BOARD OF TRUSTEES APPROVED A RESOLUTION TO AMEND THE DECEMBER 14, 2007 REVISED BY-LAWS. THE AMENDMENTS CONSISTED OF THE FOLLOWING: 1. THE CHIEF EXECUTIVE OFFICER (THE "CEO") OF THE TRUST WILL BE DELEGATED ALL OF THE FUNCTIONS OF THE OFFICERS OF THE BOARD OF TRUSTEES. IN PERFORMING THOSE FUNCTIONS, THE CEO WILL BE RESPONSIBLE FOR PROVIDING DETAILED REPORTS TO THE BOARD OF TRUSTEES OF ALL ACTIVITIES TAKEN ON BEHALF OF THE TRUST AND FOR CARRYING OUT ANY POLICIES OR DIRECTIVES OF THE BOARD OF TRUSTEES TO THE EXTENT CONSISTENT WITH THE CEO'S FIDUCIARY RESPONSIBILITIES. 2. UNLESS THE BOARD OF TRUSTEES DECIDES OTHERWISE ON A CASE-BY-CASE BASIS, MEETINGS WILL BE HELD TELEPHONICALLY THROUGH CONFERENCE CALLS OR THE INTERNET IN WHICH THE TRUSTEES CAN HEAR AND SPEAK TO EACH OTHER IN REAL TIME. 3. SECTION 4.7 OF THE REVISED BYLAWS IS CLARIFIED TO PROVIDE EXPRESSLY THAT THE BOARD OF TRUSTEES MAY ACT ON THE BASIS OF A MAJORITY VOTE OF A QUORUM PRESENT AT ANY MEETING OF THE BOARD OF TRUSTEES OR BY THE CONSENT PROCEDURES SET FORTH IN SECTION 4.9 OF THE REVISED BYLAWS. 4. THERE WILL BE NO DIRECTOR OF THE TRUST. ALL OF THE FUNCTIONS OF THE DIRECTOR SET FORTH IN THE REVISED BYLAWS WILL BE DELEGATED TO THE CEO. | |
| Form 990, Part VI, Section A, line 7a | EXCEPT AS PROVIDED IN SUBSECTION (b) of SECTION 7.1 OF THE AMENDEMENT OF THE AGREEMENT AND DECLARATION OF TRUST, THE PRESIDENT OF THE INDIANA STATE TEACHERS ASSOCIATION (THE "ISTA") HAS THE RIGHT TO APPOINT 6 TRUSTEES WITH THE APPROVAL OF THE BOARD OF DIRECTORS OF THE ISTA. ONE OF THE TRUSTEES APPOINTED SHALL BE A SCHOOL ADMINISTRATOR, AND IN NO CASE ANY OF THE 6 TRUSTEES SHALL BE ACTIVELY SERVING IN THE BOARD OF DIRECTORS OF THE ISTA. UNDER SUBSECTION (b) EFFECTIVE MAY 15, 2009, AND CONTINUING FOR THE DURATION OF THE TRUSTEESHIP THEN ESTABLISHED BY THE NATIONAL EDUCATION ASSOCIATION OVER ISTA AND PURSUANT TO THE BYLAWS OF THE NATIONAL EDUCATION ASSOCIATION, THE I.S.T.A. INSURANCE TRUST SHAL BE ADMINISTERED BY THE TRUSTEE APPOINTED BY THE NATIONAL EDUCATION ASSOCIATION FOR PURPOSES OF SUCH TRUSTEESHIP (EDWARD SULLIVAN). ON SEPTEMBER 23, 2009, THE MARRION SUPERIOR COURT APPOINTED 8 ADDITIONAL TRUSTEES. | |
| Form 990, Part VI, Section A, line 8b | THERE WERE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. | |
| Form 990, Part VI, Section B, line 11 | BEFORE THE FORM 990 IS FILED WITH THE IRS, EDWARD SULLIVAN, TRUSTEE & CEO, REVIEWED THE FORM 990 AND CONSULTED WITH LEGAL COUNSEL. A COPY OF THE FORM 990 WAS PROVIDED TO EACH TRUSTEE WHO WAS AFFORDED AN OPPORTUNITY TO ASK QUESTIONS ABOUT THE RETURNS, PRIOR TO FILING, AT A MEETING OF THE BOARD OF TRUSTEES. | |
| Form 990, Part VI, Section C, line 19 | THE I.S.T.A. INSURANCE TRUST MAKES ITS GOVERNING DOCUMENTS (THAT IS, THE AMENDMENT AND RESTATEMENT OF THE AGREEMENT AND DECLARATION OF TRUST ESTABLISHING THE I.S.T.A. INSURANCE TRUST AND THE BYLAWS) AVAILABLE TO THE PUBLIC UPON REQUEST. THE I.S.T.A. INSURANCE TRUST DOES NOT HAVE A CONFLICT OF INTEREST POLICY OR AUDITED FINANCIAL STATEMENTS. | |
| Form 990, Part VII | R. STEPHEN GOOKINS - 412 E. CARR STREET, MILAN, IN 47031. TOM EDINGTON - 4538 E. Fox Run Drive, Syracuse, IN 46567. J. SUE KELLY - 1475 KENDALE BLVD., EAST LANSING, MI 48823. DAVID ORENTLICHER - INDIANA UNIVERSITY SCHOOL OF LAW - 530 W. NEW YORK ST, INDIANAPOLIS, IN 46202. JOHN F. SPRINGER - 41 SUNFIRE AVENUE, CAMP HILL, PA 17011. FREDERICK J. SUMAN - 975 EASTHAM WAY, #101, NAPLES, FL 34104. ANN CLARK - 20 ASHBURTON PLACE, BOSTON, MA 02108. WARREN WILLIAMS - 5 BELTON COURT, HILTON HEAD ISLAND, SC 29926. ROBERT FRANKEL - 7325 OAKBAY DRIVE, NOBLESVILLE, IN 46062. JUDITH BRIGANTI - 316 SUNSET COURT, WAKARUSA, IN 46573. BRUCE ROGERS - 14709 OSBORNE RD, BREMEN, IN 46506. | Contact Addresses for Officers, Directors, Etc |
| FORM 990, PART VII, SECTION A, LINE 1A, COLUMN B: | EDWARD SULLIVAN: AVERAGE HOURS PER WEEK DEVOTED TO RELATED ORGANIZATIONS: 39 HOURS KATHY PARKS: AVERAGE HOURS PER WEEK DEVOTED TO RELATED ORGANIZATIONS: 39 HOURS BRENDA PIKE: AVERAGE HOURS PER WEEK DEVOTED TO RELATED ORGANIZATIONS: 39 HOURS (BEGINNING IN JANUARY 2010) NATHAN SCHNELLENBERGER: AVERAGE HOURS PER WEEK DEVOTED TO RELATED ORGANIZATIONS: 39 HOURS WARREN WILLIAMS: AVERAGE HOURS PER WEEK DEVOTED TO RELATED ORGANIZATIONS: 39 HOURS (BASED ON CALENDAR YEAR 2009 AND ENDING ON MAY 13, 2009) ROBERT FRANKEL: AVERAGE HOURS PER WEEK DEVOTED TO RELATED ORGANIZATIONS: 20 HOURS (BASED ON CALENDARY YEAR 2009 AND ENDING ON MAY 2, 2009) | AVERAGE HOURS PER WEEK DEVOTED TO RELATED ORGANIZATIONS |
| FORM 990, PART VIII, LINE 11A: | FOOTNOTE 1: PASS-THROUGH LOSS REFERS TO PASS-THROUGH LOSSES FROM PARTNERSHIPS FROM SCHEDULES K1, FORM 1065. | MISCELLANEOUS REVENUE |
| FORM 990, PART IX, LINE 24A | FOOTNOTE 2: INSURANCE PREMIUMS REFERS TO LIFE INSURANCE PREMIUMS PAID. | OTHER EXPENSES |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII (4 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Exempt Code SectionExemptCodeSection |
|---|---|---|---|---|---|---|---|
| INDIANA STATE TEACHERS ASSOCIATION | |||||||
| 150 WEST MARKET STREET NO 900 | INDIANAPOLIS | IN | 46204 | 351148612 | LABOR ORGANIZATION THAT IMPROVES THE PROFESSIONAL STATUS OF SCHOOL EMPLOYEES | IN | 501(C)(5) |
| INDIANA POLITICAL ACTION COMMITTEE FOR EDUCATION (I-PACE) | |||||||
| 150 WEST MARKET STREET | INDIANAPOLIS | IN | 46204 | 351712876 | CONTRIBUTE TO CANDIDATES SUPPORTING PUBLIC EDUCATION IN INDIANA | IN | 527 |
| INDIANA EDUCATORS' VEBA TRUST | |||||||
| 150 WEST MARKET STREET | INDIANAPOLIS | IN | 46024 | 383691211 | TO PROVIDE A FUNDING SOURCE FOR POST RETIREMENT HEALTH CARE EXPENSES | IN | 501(C)(9) |
| NATIONAL EDUCATION ASSOCIATION OF THE UNITED STATES | |||||||
| 1201 16TH STREET NW 8TH FLOOR | WASHINGTON | DC | 20036 | 530115260 | LABOR ORGANIZATION - MISSION IS TO ADVOCATE FOR EDUCATION PROFESSIONALS | DC | 501(C)(5) |
Form990 Schedule R Part IV Form990ScheduleRPartIV (2 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivityPrimaryActivity | Legal Domicile StateLegalDomicileState | Type Of EntityTypeOfEntity |
|---|---|---|---|---|---|---|---|
| ISTA ADMINISTRATIVE SERVICES CORPORATION | |||||||
| 150 WEST MARKET STREET | INDIANAPOLIS | IN | 46204 | 352003568 | ADMINISTRATION OF CLAIMS FOR TRUST PRODUCTS | IN | C |
| ISTA FINANCIAL SERVICES CORPORATION | |||||||
| 150 WEST MARKET STREET | INDIANAPOLIS | IN | 46204 | 351901242 | FINANCIAL SERVICES PROVIDED FOR TRUST PRODUCTS | IN | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 1 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 1 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 1 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 1 | SharingOfFacilities |
| Sharing Of Paid Employees | 1 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 1 | OtherTransferFromOtherOrg |
Reasonable Cause Explanation ReasonableCauseExplanation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | Taxpayer: I.S.T.A. Insurance TrustEIN: 31-1151545Forms: 990 and 990-TTax Year: September 1, 2009 to August 31, 2010Date: July 9, 2012Reasonable Cause Explanation for Late Filed Return The forms 990 and 990-T for the fiscal year ending August 31, 2010 filed today, July 9, 2012, on behalf of the I.S.T.A. Insurance Trust (the "Trust") are late. The Trust respectfully submits that its delay in filing these forms was due to reasonable cause and was not the result of willful neglect. As explained below, the failure to file these returns timely was due to the complete re-evaluation and wind-down of the Trust's operations by newly appointed trustees and their newly retained service providers. The Trust is designed and operated as a voluntary employees' beneficiary association exempt from federal income tax under section 501(c)(9) of the Internal Revenue Code (the "Code"). The Trust was established in 1985 by the Indiana State Teachers Association (the "Association"), which is an employee organization exempt from federal income tax under section 501(c)(5) of the Code. The purpose of the Trust was to serve as a funding vehicle for medical, long term disability, dental, vision, and life insurance benefit programs maintained by Indiana public K-12 schools on behalf of their employees. These programs were financed solely through contributions made by the public school employers and their employees. In June and July of 2009, all of the Trust's operations with respect to these programs other than the life insurance programs were terminated except to the extent necessary to administer and fund incurred but not paid (i.e., "run-out") long term disability claims. The Trust's operations with respect to the life insurance programs are also being terminated and should end by the close of the Trust's current fiscal year (August 31, 2012). The Trust is controlled by a nine-person board of trustees appointed by the Superior Court in Marion County, Indiana. The cessation of the Trust's major operations with respect to the school district insurance programs was instigated by a May 2009 order by the Indiana Department of Insurance ("IDOI"), which - after conducting an investigation that found the Trust to be effectively insolvent - required the Trust to transfer as of June 30, 2009 the funding obligations with respect to new participant claims under the school medical insurance programs to a commercial carrier, along with a fixed amount of cash to cover the costs of the run-out claims for those claims incurred before June 30, 2009, and the stop loss insurance with respect to those run-out claims. After the transition date, the Trust remained responsible for satisfying the demands of the schools for refunds of the balance of their accumulated "Claims Stabilization Reserves" ("CSR"). The IDOI order in May 2009 not only required the Trust to begin an immediate wind down of its major operations, it caused the Trust to suffer an immediate liquidity crisis because it had practically no income or liquid assets to satisfy its monthly obligations to pay substantial long term disability run-out claims. At this point, the Association's parent affiliate, the National Education Association ("NEA"), placed the Association under trusteeship. The NEA-appointed trustee, Edward P. Sullivan, took control of all of the entities related to the Association, including the Trust. With respect to the Trust, Sullivan discovered as soon as he began serving as the trustee in May of 2009 that the books and records were in complete disarray as a result of the lack of adequate internal controls and unfounded characterizations and valuations of the Trust's liabilities. Developing accurate financial statements in this situation took a tremendous amount of time and resources. The difficulty of this task was made far greater by litigation between the Trust and the former fiduciaries and service providers - most of whom were responsible in some respect for the poor state in which the Trust's books and records were found when Sullivan took control. The litigation brought by the Trust - which lasted two and one-half years and ended with confidential settlements with each defendant - impeded the ability of the Trust to communicate with the defendant former fiduciaries and service providers. This imposed a heavy burden on the Trust's efforts to develop accurate financial statements because in many cases the former service providers maintained highly relevant information pertaining to those statements. For example, only through the litigation discovery process could the Trust obtain access to its former actuary's and auditor's work papers. The Trust also has been required to defend three lawsuits seeking refunds of the CSR balances attributable to the former school medical programs; those cases are still ongoing. The individuals responsible for preparing accurate financial statements for the Trust have been required to devote a substantial amount of their time to the litigation brought by and against the Trust. In addition, the Association, which historically has provided staff to assist the Trust, went through a complete reorganization, involving curtailment of services and reductions in force, which further affected the Trust's ability to complete the recreation of the financial statements and analyses.Once all of the obtainable information was gathered, it became apparent that (1) the Trust's liabilities would have to be re-characterized and re-valued and (2) the lack of appropriate internal controls and the failure to maintain appropriate financial records for the periods prior to May 2009 made it impossible for the Trust to engage in an audit process that would result in unqualified opinions regarding the accuracy and fairness of the Trust's books and records. Accordingly, the Trust instead retained an accounting firm, Salibello and Broder, which merged into BDO USA in the course of the work on this project, and an actuarial firm, Oliver Wyman, to prepare the most accurate reports and returns possible under the circumstances regarding the last full fiscal year ending before the Trustees took control of the Trust in May 2009 (the 2007 tax year ending August 31, 2008) and then to prepare such reports and returns for each fiscal year thereafter once the new base line was established. The submissions today are the culmination of this lengthy process during which best efforts were applied. In addition to this submission, the Trust also submitted amended 2007 Forms 990 and 990-T, Forms 926 (tax year ending August 31, 2008), Forms 8886 (tax year ending August 31, 2008), 2008 Forms 990 and 990-T, Forms 926 (tax year ending August 31, 2009), Forms 8886 (tax year ending August 31, 2009), and 2010 Forms 990 and 990-T (tax year ending August 31, 2011).Under the extraordinary circumstances surrounding the Trust's effective insolvency, its wind-down of its operations, and its completed and ongoing litigation over its past operations and assets, the Trust exercised ordinary business care and prudence, and its delay in filing this submission was due to reasonable cause and not willful neglect. For all of the reasons stated above, notwithstanding the diligent work of the trustees, the Association staff, and the professional service providers, the submission was filed as soon as practicable under the circumstances, but necessarily late. Accordingly, the Trust respectfully submits that the delay in filing is understandable and excusable, does not suggest any deviation from standards of ordinary business care and prudence, and was not due to willful neglect of the Trust's filing duties. | Explanation |