City of Chaska VEBA Health Savings Trust

Nonprofit profile at a glance

EIN
202458973
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2021
Location
Chaska, MN, USA
Phone
9524489200
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$108,398
Expenses
$75,334
Assets
$275,051
Liabilities
$0

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

Leadership & pay

1 person listed

People named in this filing

  • Hand Benefit Trust Co (Trustee)

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

A voluntary employees' beneficiary association (veba) to fund reimbursement of eligible medical expenses under a health reimbursement arrangement

What it reported doing in 2024

Health Reimbursement Arrangement funded by the organization with approximately 62 participants receiving eligible medical reimbursements in the amount of $72431

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

SUPPORTED - 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.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.9%; rating input score 68
  • Program expense ratio: 96.1%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 63rd 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: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 30.5%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 3.65; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 2.4% per year; rating input score 100; 42nd percentile among comparable filings
  • Revenue growth: 0.4% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 6.7% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 67.9% of revenue deployed · 96.1% of spending went to programs
  • Governance: 1 of 1 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $72K in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 3 filing years from 2022 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.