Employer Contribution Veba Trust Hastings

Nonprofit profile at a glance

EIN
451204706
IRS 990 coverage
2013–2017
Forms available
Form 990 2017
Location
Charlotte, NC, USA
Phone
8775353910
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Official website

Reported finances

Revenue
$87,089
Expenses
$69,951
Assets
$879,718
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

1 person listed

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide retiree health benefits to the employer's former employees and their spouses and dependents, although other benefits may be provided as described in the plan document.

What it reported doing in 2017

Health benefits and insurance premiums paid to members

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Member-benefit provider. The nonprofit used 100% of its reported program spending for member benefits.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 90
  • Accountability: 24
  • Sustainability: 68
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.7%; rating input score 64
  • Program expense ratio: 84.1%; rating input score 84
  • 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: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 57
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 19.7%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 12.58; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 72; 72nd percentile among comparable filings
  • Officer compensation ratio: 1.1%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 11.9% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: -1.2% per year; rating input score 0; 57th percentile among comparable filings
  • Asset growth: 2.7% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 63.7% of revenue deployed · 84.1% of spending went to programs
  • Governance: 0 of 1 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $750 · 1 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2013 to 2017
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Independent voting board scored 0/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.