Research Foundation Post-Retirement Benefits Plan

Overview

Mission

To provide post-retirement benefits to eligible participants.

What it reported doing in 2024

The filing organization is a voluntary employee benefit association (veba) trust, established to accomplish the following activities: the payment of health care and dental related claims of eligible retirees of the research foundation for the state university of New York (EIN 14-1368361), management of the investment portfolio that has been funded to pay for current and future claims of those retirees, receipt and processing of contributions from the retirees as applicable, and receipt and processing of funding from the research foundation for the state university of New York.

Operating model

Revenue model
Other-operating. 85% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

Nonprofit profile at a glance

EIN
800412424
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Headquarters
Albany, NY, USA
Phone
5184347050
Rating confidence
Limited
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Official website

The verdict

- This form does not report enough financial and governance detail to rate the organization. That is normal for this form and is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 53
  • Accountability: 70
  • Sustainability: 53
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 14.1; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 0.5%; rating input score 89; 89th percentile among comparable filings

Growth

  • Program expense growth: -32.1% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: 0.4% per year; rating input score 100; 10th percentile among comparable filings
  • Asset growth: 8.5% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 1 of 1 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $122K · 1 people listed
  • Highest-paid contractors: 5 contractors listed · $1.5M reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 4 filed schedules · includes foreign activity
  • Filing history: 14 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

1 person listed

Highest reported compensation

  • BANK OF NEW YORK MELLON (TRUSTEE): $121,660 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.