American Electric Power System Retiree

Nonprofit profile at a glance

EIN
752517498
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Pittsburgh, PA, USA
Phone
4122342242
Rating
57
Verdict
MIXED
Rating confidence
Moderate
Sector
Private Grantmaking Foundations

Reported finances

Revenue
$41,059,078
Expenses
$22,458,539
Assets
$521,014,264
Liabilities
$5,742,674

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

1 person listed

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide funding for obligations for retiree medical and dental benefits offered through the american electric power system comprehensive medical plan.

What it reported doing in 2024

The trust holds, invests and reinvests assets to accumulate amounts that will be used to provide medical and dental benefits for current and future retired employees (and their dependents) of american electric power company, inc. And its affiliates who are covered by certain collective bargaining agreements.

Operating model

Revenue model
Investment-supported. 61% of the money available for current operations came from recurring investment income.
Distribution model
Member-benefit provider. The nonprofit used 86% of its reported program spending for member benefits.

The verdict

MIXED - A large share of available resources goes toward mission work and revenue comfortably covers expenses. A relatively small share of voting board members are independent and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 50
  • Accountability: 6
  • Sustainability: 93
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.4%; rating input score 89
  • Program expense ratio: 100%; rating input score 100
  • 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: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 1 of 9 controls in place; rating input score 14
    • 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: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 45.3%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 23.2; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 1.2%; rating input score 84; 84th percentile among comparable filings

Growth

  • Program expense growth: 11% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: -1.2% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 17th percentile among comparable filings

Details

  • Where the money goes: 89.4% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 1 board members independent · 1 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $260K · 1 people listed
  • Highest-paid contractors: 5 contractors listed · $1.8M reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 3 filed schedules · includes foreign activity
  • Filing history: 13 filing years from 2011 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.