Committee on Investment of Employee Benefit Assets Inc

Nonprofit profile at a glance

EIN
475104757
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Naples, FL, USA
Phone
6108060789
Rating
42
Verdict
MIXED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$907,484
Expenses
$842,331
Assets
$1,430,522
Liabilities
$700,299

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

Leadership & pay

12 people listed

Executive titles in this filing

  • DENNIS SIMMONS (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DENNIS SIMMONS (EXECUTIVE DIRECTOR): $365,560 total reported compensation

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

Overview

Mission

Cieba is a trade organization of chief investment officers who manage and administer corporate retirement plan assets for over 100 mostly us-based companies, and most members are fiduciaries of their respective companies' plans, governed by the employee retirement income security act of 1974. In this regard, cieba spends 100% of its time on activities promoting the common interests of members, including the following: (a) organizing and hosting conferences, seminars, and meetings for its members, covering current and emerging retirement investment policy issues, (b) providing input to policymakers on issues affecting the management of retirement plan assets, (c) submitting and publishing testimony and position statements, and (d) engaging with relevant media on current topics related to retirement plans and investments.

What it reported doing in 2024

General program - the general program for cieba involves organizing and facilitating information-sharing and educational opportunities for members and providing a forum for members to educate retirement savings policymakers and thought leaders in order to support the effective and efficient operation of erisa employee benefit plans and plan investments. In this regard, cieba spends its general program efforts on activities promoting the common interests of members, including the following: (a) organizing and hosting conferences, seminars, and meetings for its members, covering current and emerging retirement investment policy issues, (b) providing input to policymakers on issues affecting the management of retirement plan assets, (c) submitting and publishing testimony and position statements, and (d) engaging with relevant media on current topics related to retirement plans and investments.

Operating model

Revenue model
Membership-supported. 64% of the money available for current operations came from membership dues.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

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

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 66
  • Accountability: 74
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: 7.2%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 1.7; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0.49; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 43.4%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 42.5% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 6.1% per year; rating input score 100; 50th percentile among comparable filings
  • Asset growth: 11.9% per year; rating input score 100; 64th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 11 of 11 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $641K in reported program spending
  • Leadership: top reported pay $366K · 12 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 10 of 11 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Sustainability: Operating margin scored 55/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.