City of Wichita Falls Employee Benefit Trust

Nonprofit profile at a glance

EIN
752068960
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Wichita Falls, TX, USA
Phone
9407617462
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$17,511,863
Expenses
$17,782,038
Assets
$16,242,619
Liabilities
$1,623,898

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

Leadership & pay

5 people listed

People named in this filing

  • Kinley Hegglund (Administrator)
  • Christi Klyn (Board Member)
  • Stephen Calvert (Board Member)

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

To provide benefits under the Health and Welfare Program, which benefits may include life, accidental death and dismemberment, short or long term disability, basic or major medical, dental, vision, or other sick or accidental benefits to the employees, retirees, and dependents of the City of Wichita Falls.

What it reported doing in 2024

Provided health, dental, life and vision insurance, prescription coverage, on-site clinic services, 457 voluntary retirement plans, flexible spending accounts, and other insurance options to the employees, retirees, and dependents of the City of Wichita Falls.

Operating model

Revenue model
Donor-supported. 91% of the money available for current operations came from contributions and gifts.
Distribution model
Member-benefit provider. The nonprofit used 93% 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 90
  • Accountability: 24
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.1%; rating input score 99
  • Program expense ratio: 97.5%; rating input score 97
  • 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: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.5%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 0.91; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 2.3% per year; rating input score 100; 21st percentile among comparable filings
  • Revenue growth: 1.2% per year; rating input score 100; 13th percentile among comparable filings
  • Asset growth: 8.8% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 99.1% of revenue deployed · 97.5% of spending went to programs
  • Governance: 0 of 5 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $17.3M in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Highest-paid contractors: 1 contractor listed · $164K reported
  • Consistency: 41 of 41 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2019 to 2024
  • 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.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 25/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.