Devcon Construction Inc Employees Welfare Benefit Trust

Nonprofit profile at a glance

EIN
330248701
IRS 990 coverage
2016–2016
Forms available
Form 990 2016
Location
Milpitas, CA, USA
Phone
4089428200
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$97,188
Expenses
$5,971,602
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

2 people listed

People named in this filing

  • GARY FILIZETTI (TRUSTEE, COMMITTEE MEMBER)
  • BRET SISNEY (TRUSTEE, COMMITTEE 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 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To secure union benefit payments to our collectivley bargined employees.

What it reported doing in 2016

Provide major medical and hospitalization reimbursement to corporate sponsor for eligible partcipants (union employees). The number of eligible participants was 0 as of 12/31/16.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 9
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -6,044.4%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 2 of 2 board members independent · 4 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $6M in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.