American Electric Power System Retiree Medical Benefit Trust
Nonprofit profile at a glance
- EIN
- 752472686
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024
- Location
- Pittsburgh, PA, USA
- Phone
- 4122342242
- Rating confidence
- Limited
- Sector
- Voluntary Employees Beneficiary Associations (Non-Government)
Reported finances
- Revenue
- $90,513,626
- Expenses
- $90,786,064
- Assets
- $898,537,046
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
1 person listed
Highest reported compensation
- THE BANK OF NEW YORK MELLON (TRUSTEE (SEE SCH O)): $168,432 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The trust continues to hold, invest, and reinvest its assets to accumulate amounts that will be used to provide benefits for current and future participants (and their dependents).
What it reported doing in 2024
The Trust provided medical and dental benefits for current and future retired employees (and their dependents) of American Electric Power Company, Inc. and its affiliates who are not covered by collective bargaining agreements.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- 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.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 90
- Accountability: 6
- Sustainability: 61
- Growth: 20
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; 68th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 4th 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: -0.3%; rating input score 25; 25th percentile among comparable filings
- Total-asset coverage ratio: 9.9; rating input score 91; 91st percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 99; 99th percentile among comparable filings
- Officer compensation ratio: 0.2%; rating input score 91; 91st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -2.2% per year; rating input score 0; 2nd percentile among comparable filings
- Asset growth: 1.4% per year; rating input score 100; 12th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 0 of 1 board members independent · 1 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $168K · 1 people listed
- Highest-paid contractors: 5 contractors listed · $3.9M reported
- Consistency: 9 of 9 current checks pass
- Schedules: 3 filed schedules
- 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 — Accountability: Governance controls: 5 of 6 not reported.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 25/100.