Cowles Company Medical Plan Veba Trust

Nonprofit profile at a glance

EIN
207044058
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Spokane, WA, USA
Phone
5094595219
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$4,414,701
Expenses
$3,898,806
Assets
$3,196,489
Liabilities
$335,289

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

Leadership & pay

3 people listed

People named in this filing

  • Steven Rector (Trustee)
  • Michelle Nielsen (Trustee)
  • Toni Weatherwax (Trustee)

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

Participants and employers contributions received by the Plan Sponsor are deposited into a VEBA trust in order to provide approved medical services to covered participants in accordance with the provisions of the Plan document.

What it reported doing in 2024

Provide approved medical services through a VEBA trust to covered participants in accordance with the provisions of the Plan document. An average of 368 participants employee and their covered dependents were enrolled for the 2024 plan year.

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 81% 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: 18
  • Sustainability: 57
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.2%; rating input score 88
  • Program expense ratio: 99.6%; rating input score 100
  • 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: 3 of 7 controls in place; rating input score 43
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 11.7%; rating input score 66; 66th percentile among comparable filings
  • Total-asset coverage ratio: 0.82; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 58; 58th 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: 4.8% per year; rating input score 100; 40th percentile among comparable filings
  • Asset growth: 2.2% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 88.2% of revenue deployed · 99.6% of spending went to programs
  • Governance: 0 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $3.9M in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 42 of 42 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2020 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.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.