John Hancock Life Ins Co Employee Welfare Trust
Overview
Mission
This is a voluntary employee's beneficiary association trust (veba). The veba was established to fund and administer the self insured benefits of certain john hancock life ins co employees, dependents and retirees.
Operating model
- Revenue model
- Earned-program. 96% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The program-spending lines do not add up, so the filing cannot show reliably whether the nonprofit works directly or through others.
Nonprofit profile at a glance
- EIN
- 043105469
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024
- Headquarters
- Boston, MA, USA
- Rating
- 83
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Mutual/Membership Benefit
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports that some governance safeguards are missing and program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 92
- Transparency & Controls: 100
- Accountability: 57
- Sustainability: 56
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 88.4%; rating input score 88
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 71st percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
- Public monitoring controls: Limited
- Public policy transparency: Limited
- Public financial transparency: Limited
- Impact reporting controls: Limited
- Public relationship transparency: Limited
Accountability
- Independent voting board: Limited
- Governance controls: 4 of 7 controls in place; rating input score 57
- Public governance controls: Limited
- Zakat policy transparency: Limited
Sustainability
- Operating margin: 7.9%; rating input score 66; 66th percentile among comparable filings
- Operating reserve ratio: 1.2; rating input score 45; 45th percentile among comparable filings
- Liabilities to assets ratio: 1.7; rating input score 2; 2nd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 98; 98th percentile among comparable filings
Growth
- Program expense growth: -0.9% per year; rating input score 0; 6th percentile among comparable filings
- Revenue growth: 4.4% per year; rating input score 100; 36th percentile among comparable filings
- Asset growth: -13.3% per year; rating input score 0; 1st percentile among comparable filings
Details
- Where the money goes: 88.4% of revenue deployed · 100% of spending went to programs
- Governance: 4 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $87.8M in reported program spending
- Leadership: top reported pay $0 · 1 people listed
- Consistency: 15 of 15 current checks pass
- Schedules: 3 filed schedules
- Filing history: 4 annual filings from 2020 to 2024
- Related organizations: 2 filed related-organization links