Iona Mcgregor Retiree Ins Tr Fund
Iona Mcgregor Retiree Ins Tr Fund consistently grows assets with zero reported officer compensation.
EIN: 146325156 · Fort Myers, FL · NTEE: Y43 · Updated: 2026-03-28
Is Iona Mcgregor Retiree Ins Tr Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Iona Mcgregor Retiree Ins Tr Fund directs 100% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Iona Mcgregor Retiree Ins Tr Fund
Iona Mcgregor Retiree Ins Tr Fund (EIN: 146325156) is a nonprofit organization based in Fort Myers, FL, classified under NTEE code Y43. The organization reported total revenue of $1.0M and total assets of $17.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Iona Mcgregor Retiree Ins Tr Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Iona Mcgregor Retiree Ins Tr Fund is a mid-size nonprofit that has been operating for 17 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $828K |
| Total Expenses | $541K |
| Surplus / Deficit | +$286K |
| Total Assets | $13.7M |
| Total Liabilities | $61K |
| Net Assets | $13.6M |
| Operating Margin | 34.6% |
| Debt-to-Asset Ratio | 0.4% |
| Months of Reserves | 303.4 months |
Financial Health Grade: A
In 2023, Iona Mcgregor Retiree Ins Tr Fund reported a surplus of $286K with revenue exceeding expenses, holds 303.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Iona Mcgregor Retiree Ins Tr Fund's revenue has grown at a compound annual growth rate (CAGR) of 3.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -2.8% | +26.1% | +16.6% |
| 2022 | +7.3% | +10.5% | -18.1% |
| 2021 | +10.4% | +8.0% | +25.4% |
| 2020 | +1.4% | +12.5% | +15.1% |
| 2019 | +13.6% | +12.6% | +5.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Iona Mcgregor Retiree Ins Tr Fund with a Mission Score of 95 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 0%
- programs: 100%
- fundraising: 0%
According to IRS 990 filings, Iona Mcgregor Retiree Ins Tr Fund allocates its expenses as follows: admin: 0%, programs: 100%, fundraising: 0%. With 100% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $286K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.4%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are not compensated, which is highly unusual for an organization of this size and asset base, suggesting a volunteer-led or externally managed structure.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Iona Mcgregor Retiree Ins Tr Fund's IRS 990 filings:
- Lack of detailed expense breakdown beyond total expenses in provided data
- Unusually low liabilities relative to assets in recent years, potentially indicating a shift in financial structure or reporting
Strengths
The following positive indicators were identified for Iona Mcgregor Retiree Ins Tr Fund:
- Consistent asset growth, from $5.7M in 2014 to $13.6M in 2023
- Zero reported officer compensation across all filings, indicating high efficiency
- Expenses consistently much lower than revenue, demonstrating strong financial management
- Long history of IRS 990 filings, showing commitment to transparency
- Strong financial stability with significant asset base relative to annual expenses
Frequently Asked Questions about Iona Mcgregor Retiree Ins Tr Fund
Is Iona Mcgregor Retiree Ins Tr Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Iona Mcgregor Retiree Ins Tr Fund (EIN: 146325156) some concerns. Mission Score: 95/100. 2 red flags identified, 5 strengths noted.
How does Iona Mcgregor Retiree Ins Tr Fund spend its money?
Iona Mcgregor Retiree Ins Tr Fund directs 100% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Iona Mcgregor Retiree Ins Tr Fund tax-deductible?
Iona Mcgregor Retiree Ins Tr Fund is registered as a tax-exempt nonprofit (EIN: 146325156). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Iona Mcgregor Retiree Ins Tr Fund a good charity?
Based on the available IRS 990 data, the Iona Mcgregor Retiree Ins Tr Fund appears to be a very well-managed and efficient organization. It consistently grows its assets, maintains low expenses relative to revenue, and reports no officer compensation, all of which are strong indicators of a 'good' charity focused on its mission.
How does the organization manage to operate with 0% officer compensation?
The filings consistently show 0% officer compensation, which suggests that the organization's leadership may be entirely volunteer-based, or that its operational management is handled by an external entity whose compensation is not categorized as 'officer compensation' on the 990 form, or that the fund is managed by a larger entity that covers these costs.
What is the primary use of the fund's assets?
Given its NTEE code (Y43 - Employee/Retiree Organizations) and the consistent growth of its assets from $5.7 million in 2014 to $13.6 million in 2023, the primary use of the fund's assets is likely to provide and secure benefits for retirees, such as insurance or pension benefits, as per its trust fund nature.
Filing History
IRS 990 filing history for Iona Mcgregor Retiree Ins Tr Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Iona Mcgregor Retiree Ins Tr Fund's revenue has grown by 55.1%, moving from $534K to $828K. Total assets increased by 360% over the same period, from $3.0M to $13.7M. Total functional expenses rose by 1429.7%, from $35K to $541K. In its most recent filing year (2023), Iona Mcgregor Retiree Ins Tr Fund reported a surplus of $286K, with revenue exceeding expenses. The organization holds $61K in liabilities against $13.7M in assets (debt-to-asset ratio: 0.4%), resulting in net assets of $13.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $828K | $541K | $13.7M | $61K | — | — |
| 2022 | $852K | $429K | $11.7M | $6K | — | — |
| 2021 | $794K | $388K | $14.3M | $4K | — | View 990 |
| 2020 | $719K | $360K | $11.4M | $6K | — | — |
| 2019 | $709K | $320K | $9.9M | $17K | — | View 990 |
| 2018 | $624K | $284K | $9.4M | $7K | — | View 990 |
| 2017 | $592K | $249K | $8.2M | $6K | — | View 990 |
| 2016 | $620K | $207K | $7.0M | $6.0M | — | View 990 |
| 2015 | $605K | $162K | $6.0M | $5.7M | — | View 990 |
| 2014 | $578K | $164K | $5.8M | $5.5M | — | View 990 |
| 2013 | $567K | $153K | $4.9M | $5.1M | — | View 990 |
| 2012 | $494K | $119K | $4.0M | $4.2M | — | View 990 |
| 2011 | $534K | $35K | $3.0M | $3.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $828K, expenses of $541K, and assets of $13.7M (revenue -2.8% year-over-year).
- 2022: Revenue of $852K, expenses of $429K, and assets of $11.7M (revenue +7.3% year-over-year).
- 2021: Revenue of $794K, expenses of $388K, and assets of $14.3M (revenue +10.4% year-over-year).
- 2020: Revenue of $719K, expenses of $360K, and assets of $11.4M (revenue +1.4% year-over-year).
- 2019: Revenue of $709K, expenses of $320K, and assets of $9.9M (revenue +13.6% year-over-year).
- 2018: Revenue of $624K, expenses of $284K, and assets of $9.4M (revenue +5.3% year-over-year).
- 2017: Revenue of $592K, expenses of $249K, and assets of $8.2M (revenue -4.4% year-over-year).
- 2016: Revenue of $620K, expenses of $207K, and assets of $7.0M (revenue +2.5% year-over-year).
- 2015: Revenue of $605K, expenses of $162K, and assets of $6.0M (revenue +4.7% year-over-year).
- 2014: Revenue of $578K, expenses of $164K, and assets of $5.8M (revenue +1.9% year-over-year).
- 2013: Revenue of $567K, expenses of $153K, and assets of $4.9M (revenue +14.9% year-over-year).
- 2012: Revenue of $494K, expenses of $119K, and assets of $4.0M (revenue -7.5% year-over-year).
- 2011: Revenue of $534K, expenses of $35K, and assets of $3.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Iona Mcgregor Retiree Ins Tr Fund:
Data Sources and Methodology
This transparency report for Iona Mcgregor Retiree Ins Tr Fund is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.