TY 2022 Form 990 Schedule O

efile Public Visual Render ObjectId: 202302919349300930 - Submission: 2023-10-18 TIN: 27-1461867

SCHEDULE O
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
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Attach to Form 990 or 990-EZ.
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Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2022

Open to Public
Inspection

Name of the organization

Nonprofit Insurance Trust Inc

Employer identification number

27-1461867

Return Reference	Explanation
Form 990, Part VI, Section A, line 6	The members of the Trust are the Minnesota Nonprofit corporations participating in the Pool.
Form 990, Part VI, Section A, line 7a	Each member shall have the right to vote on the election of directors. Each member has one vote, even if they only participate in one pool.
Form 990, Part VI, Section A, line 7b	Each member shall have the right to vote on the following matters: 1)Amendment to the Corporation's Articles of Incorporation 2)Amendment to the Articles of Incorporation that would remove, reduce or limit any existing rights as members 3)Any other matter the Board determines to submit to a vote of the members
Form 990, Part VI, Section A, line 8b	There are no committees with the ability to act on behalf of the board.
Form 990, Part VI, Section B, line 11b	The return will be prepared by the Trust Administrator and external tax preparer. A copy of the final Form 990 will be sent to each board member prior to filing.
Form 990, Part VI, Section B, line 12c	Board members sign an annual statement in which they agree to disclose any potential conflicts they may have with the organization. If a member has a conflict they will abstain from voting.
Form 990, Part VI, Section B, line 15	The Trust does not have paid employees. The Trust purchases administrative services from Nonprofit Insurance Agency, Inc. The terms of the agreement are negotiated every three years by the Board of Directors. The Board considers the cost for like-kind services in its determination of reasonableness. NPIA, Inc. is charging the trust lower than market rates for their services. The review process last was completed in October of 2020 and the next review process will be October of 2023.
Form 990, Part VI, Section C, line 19	The organization makes these documents available to the public upon request.
Form 990, Part IX, line 11g	Program Admin Fees: Program service expenses 0. Management and general expenses 2,524,930. Fundraising expenses 0. Total expenses 2,524,930. Other Fees: Program service expenses 33,512. Management and general expenses 107,229. Fundraising expenses 0. Total expenses 140,741.

Return Reference

Explanation

Form 990, Part VI, Section A, line 6

The members of the Trust are the Minnesota Nonprofit corporations participating in the Pool.

Form 990, Part VI, Section A, line 7a

Each member shall have the right to vote on the election of directors. Each member has one vote, even if they only participate in one pool.

Form 990, Part VI, Section A, line 7b

Each member shall have the right to vote on the following matters: 1)Amendment to the Corporation's Articles of Incorporation 2)Amendment to the Articles of Incorporation that would remove, reduce or limit any existing rights as members 3)Any other matter the Board determines to submit to a vote of the members

Form 990, Part VI, Section A, line 8b

There are no committees with the ability to act on behalf of the board.

Form 990, Part VI, Section B, line 11b

The return will be prepared by the Trust Administrator and external tax preparer. A copy of the final Form 990 will be sent to each board member prior to filing.

Form 990, Part VI, Section B, line 12c

Board members sign an annual statement in which they agree to disclose any potential conflicts they may have with the organization. If a member has a conflict they will abstain from voting.

Form 990, Part VI, Section B, line 15

The Trust does not have paid employees. The Trust purchases administrative services from Nonprofit Insurance Agency, Inc. The terms of the agreement are negotiated every three years by the Board of Directors. The Board considers the cost for like-kind services in its determination of reasonableness. NPIA, Inc. is charging the trust lower than market rates for their services. The review process last was completed in October of 2020 and the next review process will be October of 2023.

Form 990, Part VI, Section C, line 19

The organization makes these documents available to the public upon request.

Form 990, Part IX, line 11g

Program Admin Fees: Program service expenses 0. Management and general expenses 2,524,930. Fundraising expenses 0. Total expenses 2,524,930. Other Fees: Program service expenses 33,512. Management and general expenses 107,229. Fundraising expenses 0. Total expenses 140,741.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990) 2022

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