Carrix Inc Benefits Trust

Nonprofit profile at a glance

EIN
911285759
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Seattle, WA, USA
Phone
2066230304
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$32,960,487
Expenses
$33,450,489
Assets
$15,931,587
Liabilities
$4,927,929

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

Leadership & pay

3 people listed

Executive titles in this filing

  • Uffe Ostergaard (CEO)

People named in this filing

  • Uffe Ostergaard (CEO)
  • Jaime Neal (CFO)
  • Brant Rigby (VP Human Resources)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provides healthcare beneifts to eligible members and may cover their dependents

What it reported doing in 2024

Provides medcial, dental, pharmaceutical and vision benefits to eligible members and may also cover their dependents. This plan also covers health benefits for certain retired, disabled & terminated employees.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 89% 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 36
  • Sustainability: 33
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.6%; rating input score 100
  • 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: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.5%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 0.48; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0.31; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 9.2% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 4.9% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: -4.7% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.6% of spending went to programs
  • Governance: 0 of 3 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $33.5M in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Highest-paid contractors: 5 contractors listed · $1.8M reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.