Carter Employee Welfare Trust

Nonprofit profile at a glance

EIN
310877292
IRS 990 coverage
2010–2013
Forms available
Form 990 2013
Location
Kent, OH, USA
Phone
3306736100
Rating confidence
Limited
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$18,777,429
Expenses
$18,840,901
Assets
$376,610
Liabilities
$498,564

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

3 people listed

Highest reported compensation

  • JEFF SEDER (TRUSTEE): $302,096 total reported compensation
  • MARGIE HARING (TRUSTEE): $185,135 total reported compensation
  • BRIAN HORNING (ASSISTANT SECRETARY/CONTRO): $145,302 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide medical, dental, life and accidental death and dismemberment benefits to employees and their dependents of the carter companies who participate.

What it reported doing in 2013

Health & welfare benefits paid to and on behalf of employees and their dependents who participate.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

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: NotEnoughData
  • Transparency & Controls: 77
  • Accountability: 16
  • Sustainability: 24
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 3 of 9 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.3%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 0.02; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 1.32; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0.8%; rating input score 87; 87th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 9.6% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: -11.4% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 0 of 3 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $302K · 3 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2010 to 2013
  • 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 — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.