Colgate-palmolive Post Retirement Veba Trust

Nonprofit profile at a glance

EIN
136972051
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2123102000
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$6,295,053
Expenses
$5,805,034
Assets
$1,525,333
Liabilities
$0

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

Leadership & pay

1 person listed

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The primary exempt purpose of the colgate-palmolive post-retirement veba trust is to provide post retirement benefits to eligible participants.

What it reported doing in 2024

Payment of post-retirement benefits to eligible members.

Operating model

Revenue model
Earned-program. 97% 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. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 90
  • Accountability: 6
  • Sustainability: 52
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.7%; rating input score 89
  • Program expense ratio: 98.9%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 1 of 7 controls in place; rating input score 14
    • 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: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.8%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 0.26; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 2.9% per year; rating input score 100; 27th percentile among comparable filings
  • Revenue growth: 7.3% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: -2% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 88.7% of revenue deployed · 98.9% of spending went to programs
  • Governance: 0 of 1 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $5.7M in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 13 filing years from 2011 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.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Operating margin scored 58/100.