Asri Veba Trust

Nonprofit profile at a glance

EIN
616582778
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Birmingham, AL, USA
Phone
2058203141
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$149,874
Expenses
$108,762
Assets
$600,014
Liabilities
$0

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

The trust is established and operated as a voluntary employee benefit association for the exclusive benefits of the participants. The trust will provide for the payment of health and welfare benefits to the participants and their dependents within the meaning of section 509(c)(9) of the internal revenue code.

What it reported doing in 2024

The veba trust is the funding vehicle for the plan sponsors to provide health and welfare benefits to their participants and dependants

Operating model

Revenue model
Earned-program. 79% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 100% of its reported program spending for member benefits.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 79
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 49.7%; rating input score 50
  • Program expense ratio: 86.6%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 27.4%; rating input score 80; 80th percentile among comparable filings
  • Total-asset coverage ratio: 5.52; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -32% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -33% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 3.5% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 49.7% of revenue deployed · 86.6% of spending went to programs
  • Governance: 1 of 1 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $94K in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 50/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.