AXA Equitable Long Term Disability Plan

Nonprofit profile at a glance

EIN
133481555
IRS 990 coverage
2011–2016
Forms available
Form 990 2016
Location
New York, NY, USA
Phone
6142170323
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$3,702,515
Expenses
$3,815,444
Assets
$4,127,841
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

1 person listed

People named in this filing

  • JPMORGAN CHASE BANK NA (TRUSTEE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The primary exempt purpose of axa equitable long term disability plan trust is to provide long-term disability benefits to those participants covered under the terms of the plan.

What it reported doing in 2016

Payment of long-term disability benefits for eligible employees under axa equitable long term disability plan trust.

Operating model

Revenue model
Earned-program. 97% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 90
  • Accountability: 30
  • Sustainability: 47
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.5%; rating input score 96
  • Program expense ratio: 94.7%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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; 3rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -3.1%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 1.08; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 98; 98th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 93; 93rd percentile among comparable filings

Growth

  • Program expense growth: -2.3% per year; rating input score 0; 18th percentile among comparable filings
  • Revenue growth: 11% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: -25.2% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 96.5% of revenue deployed · 94.7% of spending went to programs
  • Governance: 0 of 7 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $3.6M in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2011 to 2016
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 23/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.