Canon Medical Systems USA Inc Self-funded Erm Disability Benefit Plan

Nonprofit profile at a glance

EIN
336162757
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Tustin, CA, USA
Phone
7147305000
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$694,129
Expenses
$806,422
Assets
$2,428,809
Liabilities
$298,718

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

Leadership & pay

1 person listed

Highest reported compensation

  • Kathleen Canum (Trustee): $180,414 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 principle purpose of Canon Medical Systems USA, Inc. Self-Funded Short-Term Disability Benefit Plan is to help eligible participants with financial aid in the event of a medical disability.

What it reported doing in 2024

The Canon Medical Systems USA, Inc. Self-Funded Short Term Disability Benefit Plan Trust provides employees with replacement income in the event an employee becomes disabled and is unable to work for a period of time. The trust is funded solely with employee contributions at a rate of 1.1% of gross wages, less Section 125 deductions, subject to annual maximum contribution of $1,684.80. Benefit, under the plan are 65% of gross weekly pay, depending on employee classifications, with a minimum weekly benefit of $50 and a maximum weekly benefit of $4,312.50. As of the end of current plan year December 31, 2024, 500 employees actively participated in the plan, compared to 531 in the year ending December 31, 2023.

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 98% 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: 55
  • Accountability: 90
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th 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: No; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -16.2%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 3.01; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 13.8% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 5.6% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: 6.3% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 1 of 1 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $806K in reported program spending
  • Leadership: top reported pay $180K · 1 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2020 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 12/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.