THE CULTURAL INSTITUTIONS GROUP LIFE AND WELFARE BENEFITS PLAN

EIN: 133389578

NEW YORK, NY

Total Revenue
$1,581,459
Total Expenses
$1,613,141
Total Assets
$1,959,955
Net Assets
$1,436,516
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1962
Legal Domicile
NY
Principal Officer
RICHARD SCHEER
Phone
2126740101
Tax Period
2024-07-01 to 2025-06-30

THE CULTURAL INSTITUTIONS GROUP LIFE AND WELFARE BENEFITS PLAN, founded in 1962, is a community nonprofit that reported $1.6M in total revenue in fiscal year 2024.

Mission

THE PRIMARY PURPOSE OF THE CULTURAL INSTITUTIONS GROUP LIFE AND WELFARE BENEFITS PLAN ("CIRS") IS TO PURCHASE LIFE INSURANCE FOR QUALIFYING EMPLOYEES OF VARIOUS PARTICIPATING CULTURAL INSTITUTIONS.

Program Service Accomplishments

Program 1

PROVISION FOR AND THE PURCHASE OF LIFE INSURANCE OF QUALIFYING EMPLOYEES OF VARIOUS PARTICIPATING CULTURAL INSTITUTIONS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,517,596
Investment Income $63,863
Other Revenue $0
TOTAL REVENUE $1,581,459

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $404,433
TOTAL EXPENSES $1,613,141

Year-over-Year Comparison

2024 2023 Change
Revenue $1,581,459 $1,520,330 +0.0%
Expenses $1,613,141 $1,476,921 +0.1%
Net Income $-31,682 $43,409 -1.7%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
8
Independent Members
6
Employees
N/A
Volunteers
12

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$325,847
Total Directors
9
$965,353
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROSE LOVAGLIO-MILLER CO-CHAIR 0.10
Officer Director
$0 $34,344 $325,847
MELANIE HARTZOG CO-CHAIR 0.10
Officer Director
$0 $0 $0
JEAN JEREMIE BOARD OF TRUSTEES THRU 01/2025 0.10
Director
$0 $0 $0
NAEEM CRAWFORD-MUHAMMAD BOARD OF TRUSTEES 0.10
Director
$0 $0 $0
BISHA NURSE BOARD OF TRUSTEES 0.10
Director
$0 $0 $0
NILESH PATEL BOARD OF TRUSTEES 0.10
Director
$0 $0 $0
RAYMOND SANTANDER BOARD OF TRUSTEES 0.10
Director
$0 $32,354 $175,887
DAVID B SCOTT SCHIFF BOARD OF TRUSTEES 0.10
Director
$0 $0 $0
DANIEL STODDARD BOARD OF TRUSTEES 0.10
Director
$0 $0 $463,619
RICHARD SCHEER EXECUTIVE DIRECTOR 1.70
Officer
$0 $0 $0
MELISSA KOLLE ASSOCIATE DIRECTOR 1.70
Officer
$0 $0 $0
CHADWICK ROBERSON CONTROLLER 1.70
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $1,581,459 $1,613,141 $1,959,955 $-31,682
2024 No data No data No data No data
2023 $1,359,266 $1,277,558 $2,063,634 $81,708
2022 $1,192,903 $1,134,172 $1,870,001 $58,731
2021 $1,195,913 $1,145,334 $1,954,474 $50,579
2020 $1,360,060 $1,310,201 $1,778,193 $49,859
2019 $1,345,236 $1,335,367 $1,672,544 $9,869
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