Euclid Health Trust C/o Benefits Administrative Services

Nonprofit profile at a glance

EIN: 202366635
IRS 990 coverage: 2011–2024
Forms available: Form 990 2024
Location: Richmond Heights, OH, USA
Phone: 2162617860
Rating: 73
Verdict: SUPPORTED
Rating confidence: Moderate
Sector: Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue: $52,173
Expenses: $524,340
Assets: $5,188,573
Liabilities: $16,646

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

Leadership & pay

3 people listed

Highest reported compensation

TITO ANTONELLI (TRUSTEE): $16,050 total reported compensation
MARK DELONG (TRUSTEE): $10,050 total reported compensation
ROBERT IZO (TRUSTEE): $10,050 total reported compensation

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

Overview

Mission

Euclid health trust (the "trust") is a voluntary employee benefit association established to provide health insurance premium payment assistance to certain former employees, spouses, surviving spouses, and dependents who participated in benefit plans of euclid-hitachi heavy equipment, inc. ("ehhe"), its affiliates and/or their predecessors. The provision of assistance to members to pay their health insurance premiums, which began in march of 2005 and will continue both during and after the liquidation of ehhe, is the exclusive activity of the trust. Such activity furthers the exempt purposes of the trust in providing for health benefits that safeguard or improve the health of an individual. The activity is conducted by the trustees of the trust or other persons appointed by the trustees.

What it reported doing in 2024

Euclid health trust (the "trust") is a voluntary employee benefit association established to provide health insurance premium payment assistance to certain former employees, spouses, and dependents who participated in benefit plans of euclid-hitachi heavy equipment, inc. ("ehhe"), its affiliates and/or their predecessors. The provision of assistance to members to pay their health insurance premiums, which began in march of 2005 and will continue both during and after the liquidation of ehhe, is the exclusive activity of the trust. Such activity furthers the exempt purposes of the trust in providing for health benefits that safeguard or improve the health of an individual. The activity is conducted by the trustees of the trust or other persons appointed by the trustees.

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 87% 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 expenses are high relative to revenue.

Rating breakdown

Financial Efficiency: 89
Transparency & Controls: 90
Accountability: 37
Sustainability: 27
Growth: 40

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; 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; 9th percentile among comparable filings
Governance controls: 7 of 9 controls in place; rating input score 88
- Conflict-of-interest policy: Fail
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Limited
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass

Sustainability

Operating margin: -905%; rating input score 5; 5th percentile among comparable filings
Total-asset coverage ratio: 9.9; rating input score 63; 63rd percentile among comparable filings
Liabilities to assets ratio: 0; rating input score 32; 32nd percentile among comparable filings
Officer compensation ratio: 6.9%; rating input score 17; 17th percentile among comparable filings

Growth

Program expense growth: -2.3% per year; rating input score 0; 44th percentile among comparable filings
Revenue growth: 3.3% per year; rating input score 100; 73rd percentile among comparable filings
Asset growth: -4.8% per year; rating input score 0; 21st percentile among comparable filings

Details

Where the money goes: 100% of revenue deployed · 100% of spending went to programs
Governance: 0 of 3 board members independent · 7 of 9 filing controls reported
Programs: 1 filed program accomplishment · $524K in reported program spending
Leadership: top reported pay $16K · 3 people listed
Consistency: 17 of 17 current checks pass
Schedules: 2 filed schedules
Filing history: 13 filing years from 2011 to 2024
Contacts: How to reach this organization
Money network: 3 filed money-flow records
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 — Sustainability: Operating margin scored 5/100.
High — Growth: Program expense growth scored 0/100.
Review — Accountability: Governance controls: Conflict-of-interest policy not reported.
High — Growth: Asset growth scored 0/100.
High — Sustainability: Officer compensation ratio scored 17/100.
Moderate — Sustainability: Liabilities to assets ratio scored 32/100.