Cantex Employee Benefit Trust

Nonprofit profile at a glance

EIN
742408617
IRS 990 coverage
2016–2022
Forms available
Form 990 2022
Location
Dublin, OH, USA
Phone
8172157000
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$8,000,788
Expenses
$8,000,788
Assets
$5,000
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

2 people listed

People named in this filing

  • KEVIN CALCOTE (TRUSTEE)
  • COREY CARPENTER (VP, HUMAN RE)

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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide health, dental, and vision benefits under the terms of the plan for employees and their dependents.

What it reported doing in 2022

Maintain employee healthcare plan benefits for participants and family members eligible to participate in the plan.

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 100% of its reported program spending for member benefits.

The verdict

STRONG - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 38
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.4%; rating input score 97
  • Program expense ratio: 97.4%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th 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 92; 92nd percentile among comparable filings

Growth

  • Program expense growth: 4.5% per year; rating input score 100; 42nd percentile among comparable filings
  • Revenue growth: 4.4% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: -22.7% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 97.4% of revenue deployed · 97.4% of spending went to programs
  • Governance: 2 of 2 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 2 people listed
  • Highest-paid contractors: 1 contractor listed · $175K reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 7 filing years from 2016 to 2022
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 34/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.