Claimlinx Voluntary Employees Beneficiary Association Trust

Nonprofit profile at a glance

EIN
832672055
IRS 990 coverage
2018–2019
Forms available
Form 990 2019
Location
Brooklyn, NY, USA
Phone
7183326474
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$16,131
Expenses
$16,417
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

1 person listed

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The claimlinx voluntary employees' beneficiary association trust (the "trust") is funded by claimlinx. The trust is referred to as a voluntary employee beneficiary association or veba. The trust was established to fund the operations of the plan.

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 and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 0
  • Sustainability: 33
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.3%; rating input score 97
  • Program expense ratio: 95.6%; rating input score 96
  • 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: Limited
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.8%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -140.2% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -87.2% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: Limited

Details

  • Where the money goes: 97.3% of revenue deployed · 95.6% of spending went to programs
  • Governance: 0 of 7 filing controls reported
  • Programs: Filed program service accomplishments
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2018 to 2019
  • 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 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Sustainability: Operating margin scored 54/100.