Emery Corporation Group Benefit Plan

Nonprofit profile at a glance

EIN
561665315
IRS 990 coverage
2011–2021
Forms available
Form 990 2021
Location
Morganton, NC, USA
Phone
8284331536
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Insurance Providers

Reported finances

Revenue
$155,245
Expenses
$225,692
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • MARK D EMERY (PRESIDENT)

Highest reported compensation

  • SHERYL BURDICK (VICE PRESIDE): $101,573 total reported compensation
  • MARK D EMERY (PRESIDENT): $45,765 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide health benefits

What it reported doing in 2021

There were zero employees covered by the plan at year end.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 5
  • Sustainability: 3
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.3%; rating input score 97
  • 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; 7th percentile among comparable filings
  • Governance controls: 1 of 9 controls in place; rating input score 11
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -45.4%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -3.5% per year; rating input score 0; 29th percentile among comparable filings
  • Revenue growth: 1.4% per year; rating input score 100; 40th percentile among comparable filings
  • Asset growth: -26.7% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.3% of spending went to programs
  • Governance: 0 of 2 board members independent · 1 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $220K in reported program spending
  • Leadership: top reported pay $102K · 2 people listed
  • Consistency: 10 of 10 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 11 filing years from 2011 to 2021
  • 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 — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 7 of 8 not reported.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.