Caribbean Workers' Veba Health and Welfare Plan
Nonprofit profile at a glance
- EIN
- 521801184
- IRS 990 coverage
- 2012–2014
- Forms available
- Form 990 2014
- Location
- Columbia, MD, USA
- Phone
- 4108729500
- Rating confidence
- Limited
- Sector
- Labor Unions
Reported finances
- Revenue
- $0
- Expenses
- $30,342
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.
Leadership & pay
3 people listed
Highest reported compensation
- LARRY MAGARIK (INDEPENDENT FIDUCIARY): $13,038 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Provided health and welfare benefits for seasonal caribbean participants. The plan has liquidated. Activities during fye 4/30/2015 consisted of distributions to members and administration.
Operating model
- Revenue model
- No positive adjusted resources. The filing reports no positive adjusted operating resources.
- Distribution model
- No current program activity. The filing reports no program spending for the current year.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 90
- Accountability: 30
- Sustainability: 2
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: 0%; rating input score 0
- 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: Limited
- Governance controls: 5 of 9 controls in place; rating input score 71
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- 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: Limited
- Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 43%; rating input score 8; 8th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -100% per year; rating input score 0; 5th percentile among comparable filings
- Asset growth: -100% per year; rating input score 0; 1st percentile among comparable filings
Details
- Where the money goes: 0% of spending went to programs
- Governance: 5 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $13K · 3 people listed
- Consistency: 12 of 12 current checks pass
- Schedules: 3 filed schedules
- Filing history: 2 filing years from 2012 to 2014
- 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.
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 — Financial Efficiency: Program expense ratio scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 2/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 8/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.