Copolymer Retirees Trust
Nonprofit profile at a glance
- EIN
- 204982669
- IRS 990 coverage
- 2019–2024
- Forms available
- Form 990 2024
- Location
- Baton Rouge, LA, USA
- Phone
- 2254900021
- Rating
- 48
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Voluntary Employees Beneficiary Associations (Non-Government)
Reported finances
- Revenue
- $931,683
- Expenses
- $1,365,564
- Assets
- $4,552,077
- Liabilities
- $1,450
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
5 people listed
People named in this filing
- George A von Bodungen (Chairman of the Board)
- Ralph A Joffrion (Board Member)
- Albert H Bacas (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
Copolymer Retirees Trust was formed as a Voluntary Employees Beneficiary Association and currently services 307 retirees spouses and dependents as of August 31 2024 and continues to manage the premiums received for future medical life and dental benefits for all participants.
What it reported doing in 2024
The major accomplishments of the program services is to deliver quality healthcare benefits pharmacy benefits and life insurance for retirees of the sponsor company.
Operating model
- Revenue model
- Other-operating. 70% of the money available for current operations came from other operating revenue.
- 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: 90
- Accountability: 94
- Sustainability: 43
- Growth: 0
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: Limited
- 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: 6 of 7 controls in place; rating input score 86
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- 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: Pass
Sustainability
- Operating margin: -46.6%; rating input score 3; 3rd percentile among comparable filings
- Total-asset coverage ratio: 3.33; rating input score 77; 77th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -6.8% per year; rating input score 0; 4th percentile among comparable filings
- Asset growth: -10.9% per year; rating input score 0; 3rd percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 5 of 5 board members independent · 6 of 7 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $0 · 5 people listed
- Highest-paid contractors: 1 contractor listed · $189K reported
- Consistency: 30 of 41 current checks pass · 11 findings to review
- Schedules: 2 filed schedules
- Filing history: 6 filing years from 2019 to 2024
- 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 — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 3/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX AllOtherExpenses column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX BenefitsToMembers column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX ConferencesMeetings column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesAccounting column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesInvstMgmntFees column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesLegal column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesManagement column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesOther column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Insurance column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX OfficeExpenses column sum did not reconcile in the filed values.