Cf Real Estate Services Llc Em- Ployee Welfare Benefit Plans Trust

Nonprofit profile at a glance

EIN
581996301
IRS 990 coverage
2018–2021
Forms available
Form 990 2021
Location
Atlanta, GA, USA
Phone
4044596100
Rating
42
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$43
Expenses
$34,453
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

2 people listed

Highest reported compensation

  • JAMES MAUCK (OFFICER): $300,000 total reported compensation
  • BRETT L FINKELSTEIN (TRUSTEE): $200,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Veba trust established to accept employer and participant contributions to employee welfare benefit plans.

What it reported doing in 2021

The organization provided medical, dental, hospitalization, life insurance, and disability benefits to eligible employees and their dependents.

Operating model

Revenue model
Earned-program. 93% 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

MIXED - The filed numbers largely add up. Some filing-based governance responses are negative or unanswered and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 60
  • Accountability: 5
  • Sustainability: 1
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 8.1%; rating input score 8
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 1 of 9 controls in place; rating input score 12
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -80,023.3%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -53.5% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -56% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -73.3% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 8.1% of spending went to programs
  • Governance: 1 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $300K · 2 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2018 to 2021
  • 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: Governance controls: 6 of 7 not reported.
  • High — Financial Efficiency: Program expense ratio scored 8/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Asset growth scored 0/100.