NORTH CAROLINA TEACHERS AND STATE … - Form 990 Financial Data

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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

1979

Legal Domicile

Principal Officer

THOMAS CAUSEY

Phone

9198144195

Tax Period

2022-01-01 to 2022-12-31

NORTH CAROLINA TEACHERS AND STATE EMPLOYEES BENEFIT TRUST, founded in 1979, is a mid-sized nonprofit that reported $42.2M in total revenue in fiscal year 2022. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $503.1M exceeded revenue, resulting in a 1091% operating deficit.

Mission

TO PROVIDE GROUP BENEFITS FOR MEMBERS OF THE TEACHERS AND STATE EMPLOYEES' RETIREMENT SYSTEM AND LOCAL GOVERNMENTAL EMPLOYEES RETIREMENT SYSTEM OF THE STATE OF NORTH CAROLINA.

Program Service Accomplishments

Program 1

PAYMENTS OF DEATH BENEFITS TO BENEFICIARIES OF QUALIFYING DECEASED MEMBERS.

Program 2

PAYMENTS OF BENEFITS FOR PARTICIPANTS OF THE CONTRIBUTORY DEATH BENEFIT PLAN.

Program 3

PAYMENTS OF BENEFITS FOR PARTICIPANTS IN THE STATE OF NORTH CAROLINA SEPARATE BENEFIT FUND.

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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%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $37,765,537

Investment Income $4,462,764

Other Revenue $0

TOTAL REVENUE $42,228,301

Expense Breakdown

Grants Paid $458,411,799

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $320,982

TOTAL EXPENSES $503,080,043

Year-over-Year Comparison

	2022	2021	Change
Revenue	$42,228,301	$64,852,775	-0.3%
Expenses	$503,080,043	$62,354,458	+7.1%
Net Income	$-460,851,742	$2,498,317	-185.5%

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

Governance

Voting Members

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS CAUSEY	EXECUTIVE DIRECTOR OF RETI	0.00	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
2022	$42,228,301	$503,080,043	No data	$-460,851,742
2021	$64,852,775	$62,354,458	$504,533,775	$2,498,317
2020	$91,368,458	$54,687,372	$521,810,319	$36,681,086

NORTH CAROLINA TEACHERS AND STATE EMPLOYEES BENEFIT TRUST