Aww Co Inc & Its Designated Sub Affil Group Insurance Trust

Nonprofit profile at a glance

EIN
222471827
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Camden, NJ, USA
Phone
8569554001
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$89,729,581
Expenses
$142,374,475
Assets
$112,248,657
Liabilities
$9,992,863

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

Leadership & pay

5 people listed

Highest reported compensation

  • MARTY FALKENBERG (BENEFIT COMMITTEE): $557,197 total reported compensation
  • LYNDA DIMENNA (BENEFIT COMMITTEE): $511,680 total reported compensation
  • MELISSA CIULLO (BENEFIT COMMITTEE): $417,551 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 is a voluntary employee's beneficiary association (the "veba") established by american water works company inc. (the company). The company and participants fund the veba solely to provide group insurance, employee assistance and long-term disability benefits to the company's employees. The group insurance plan, (medical, dental, prescription, vision, group life insurance, short term disability and accidental death and dismemberment benefits) and the employee assistance plan are provided to all full-time permanent employees and, as permitted under the plan, to dependents. The long-term disability plan provides its benefits to the company's non-bargaining unit employees.

What it reported doing in 2024

The trust is a voluntary employee's beneficiary association (the "veba") established by american water works company inc. (the company). The company and participants fund the veba solely to provide group insurance, employee assistance and long-term disability benefits to the company's employees, as well as coverage for pre-65 union retirees. The group insurance plan, (medical, dental, prescription, vision, group life insurance, short term disability and accidental death and dismemberment benefits) and the employee assistance plan are provided to all full-time permanent employees and, as permitted under the plan, to dependents. The long-term disability plan provides its benefits to the company's non-bargaining unit employees. The pre-65 union retirees plan provides coverage for pre-65 union retirees and dependent coverage for pre-65 dependents of pre-65 union retirees.

Operating model

Revenue model
Earned-program. 88% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 97% of its reported program spending for member benefits.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 60
  • Accountability: 95
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.9%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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; 77th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -58.7%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0.79; rating input score 31; 31st percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 84; 84th percentile among comparable filings
  • Officer compensation ratio: 0.1%; rating input score 93; 93rd percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 29th percentile among comparable filings
  • Revenue growth: 0.8% per year; rating input score 100; 7th percentile among comparable filings
  • Asset growth: 42.5% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.9% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $142.2M in reported program spending
  • Leadership: top reported pay $557K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 48 filed related-organization links
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 1/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 31/100.