IFPA RETIREE VEBA TRUST C/O ILLINOIS FAIR PLAN ASSOCIATION

EIN: 326528294 Mutual Benefit

TINLEY PARK, IL

Total Revenue
$82,281
Total Expenses
$184,375
Total Assets
$2,483,936
Net Assets
$2,412,724
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2018
Legal Domicile
IL
Principal Officer
JOSEPH A HATHAWAY
Phone
3128610385
Tax Period
2025-01-01 to 2025-12-31

IFPA RETIREE VEBA TRUST C/O ILLINOIS FAIR PLAN ASSOCIATION, founded in 2018, is a micro nonprofit in the Mutual Benefit sector that reported $82K in total revenue in fiscal year 2025. Revenue fell 43% from the prior year — a significant decline worth monitoring. Expenses of $184K exceeded revenue, resulting in a 124% operating deficit.

Mission

PROVIDES REIMBURSEMENTS TO ELIGIBLE RETIREES OF THE ILLINOIS FAIR PLAN ASSOCIATION FOR CERTAIN MEDICAL EXPENSES OCCURRED BY THE RETIREES, THEIR SPOUSES, AND DEPENDENT CHILDREN.

Program Service Accomplishments

Program 1

PROVIDES REIMBURSEMENTS TO ELIGIBLE RETIREES OF THE ILLINOIS FAIR PLAN ASSOCIATION FOR CERTAIN MEDICAL EXPENSES OCCURRED BY THE RETIREES, THEIR SPOUSES, AND DEPENDENT CHILDREN.

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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 (2025)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $82,281
Other Revenue $0
TOTAL REVENUE $82,281

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $28,619
TOTAL EXPENSES $184,375

Year-over-Year Comparison

2025 2024 Change
Revenue $82,281 $145,198 -0.4%
Expenses $184,375 $149,822 +0.2%
Net Income $-102,094 $-4,624 +21.1%
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
3
Independent Members
N/A
Employees
N/A
Volunteers
N/A

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
1
$334,062
Total Directors
3
$334,062
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOSEPH HATHAWAY TRUSTEE 0.50
Officer Director
$0 $90,056 $334,062
LOIDA GUERRA TRUSTEE 0.50
Director
$0 $0 $0
SNEHAL PANDYA TRUSTEE 0.50
Director
$0 $0 $0
N/A TRUSTEE 0.50
$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 $82,281 $184,375 $2,483,936 $-102,094
2024 $145,198 $149,822 $2,335,413 $-4,624
2023 $51,228 $147,690 $2,310,648 $-96,462
2022 $471,932 $75,802 $2,215,876 $396,130
2021 $472,343 $22,553 $2,127,872 $449,790
2020 $595,895 $30,439 $1,625,797 $565,456
2019 $309,939 $30,080 $1,071,727 $279,859
2018 $751,893 $21 $749,361 $751,872
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