EMCC Veba-Retiree Medical Benefits Master Trust

Nonprofit profile at a glance

EIN
421487090
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Des Moines, IA, USA
Phone
5153452788
Rating
51
Verdict
MIXED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$4,069,737
Expenses
$3,735,234
Assets
$42,907,970
Liabilities
$33,122,510

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

Leadership & pay

1 person listed

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

Overview

Mission

Provide health care and life insurance benefits to the qualified retirees of Employers Mutual Casualty Company, its subsidiaries, and qualified retirees of EMC National Life Company

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

MIXED - The filed numbers largely add up and total assets are large relative to annual expenses, but may not be spendable cash. Some filing-based governance responses are negative or unanswered and a relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 48
  • Transparency & Controls: 90
  • Accountability: 6
  • Sustainability: 66
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.6%; rating input score 53
  • Program expense ratio: 57.3%; rating input score 57
  • 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: Limited
  • Governance controls: 1 of 9 controls in place; rating input score 14
    • 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: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.2%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 11.49; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.77; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 0.2%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: -30.8% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -6.9% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -16.3% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 52.6% of revenue deployed · 57.3% of spending went to programs
  • Governance: 1 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $8K · 1 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2020 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.

Key Signals

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

  • High — Accountability: Governance controls: 6 of 7 not reported.
  • Review — Financial Efficiency: Mission deployment rate scored 53/100.
  • Review — Financial Efficiency: Program expense ratio scored 57/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Operating margin scored 59/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.