Bread Financial Payments Inc Employee Benefits Trust

Nonprofit profile at a glance

EIN
911815338
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Columbus, OH, USA
Phone
6147294678
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$81,649,728
Expenses
$80,710,992
Assets
$11,618,676
Liabilities
$8,312,580

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

Providing of medical, disability, and severance under plans of the employer-sponsor

What it reported doing in 2024

Providing of health and welfare benefits

Operating model

Revenue model
Earned-program. 100% 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 the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 12
  • Sustainability: 33
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.7%; rating input score 99
  • Program expense ratio: 100%; rating input score 100
  • 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: Limited
  • Governance controls: 2 of 9 controls in place; rating input score 29
    • 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: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.1%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0.14; rating input score 4; 4th percentile among comparable filings
  • Liabilities to assets ratio: 0.72; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 95; 95th percentile among comparable filings

Growth

  • Program expense growth: -11.3% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -11% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -11.7% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 98.7% of revenue deployed · 100% of spending went to programs
  • Governance: 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $80.7M in reported program spending
  • Leadership: top reported pay $18K · 1 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2019 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: Governance controls: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • High — Sustainability: Total-asset coverage ratio scored 4/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.