College Foundation Voluntary Employee Beneficiary Association

Nonprofit profile at a glance

EIN
457023246
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Raleigh, NC, USA
Phone
9198342893
Rating
54
Verdict
MIXED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$591,388
Expenses
$283,664
Assets
$13,317,146
Liabilities
$0

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

Leadership & pay

3 people listed

Highest reported compensation

  • Wendy H McAlister (Trustee): $290,499 total reported compensation
  • Kevin Bartholomew (Trustee): $192,177 total reported compensation

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

Overview

Mission

None.

What it reported doing in 2024

Payment of post-retirement medical, dental, vision and long-term care insurance premium reimbursements.

Operating model

Revenue model
Other-operating. 98% of the money available for current operations came from other operating revenue.
Distribution model
Member-benefit provider. The nonprofit used 86% of its reported program spending for member benefits.

The verdict

MIXED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 60
  • Accountability: 24
  • Sustainability: 85
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 48%; rating input score 48
  • Program expense ratio: 100%; rating input score 100
  • 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: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 52%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 46.95; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 19.7%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 14.4% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: -15.9% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 48% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 2 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $284K in reported program spending
  • Leadership: top reported pay $290K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 40 of 40 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 12 filing years from 2013 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 48/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.