Eversource Retirees Benefit Trust

Nonprofit profile at a glance

EIN
043220614
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Pittsburgh, PA, USA
Phone
4122342242
Rating confidence
Limited

Reported finances

Revenue
$76,653,187
Expenses
$27,953,818
Assets
$840,850,558
Liabilities
$71,354,577

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

Leadership & pay

1 person listed

Highest reported compensation

  • THE BANK OF NEW YORK MELLON (TRUSTEE (SEE SCHEDULE O)): $279,424 total reported compensation

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

Overview

Mission

Distribution of payments to carriers and similar organizations for provision of benefits to organizations and individuals providing welfare benefits to participants.

What it reported doing in 2024

Benefits paid to members

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 50
  • Accountability: 6
  • Sustainability: 93
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
  • 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: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 63.5%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 30.08; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 84; 84th percentile among comparable filings
  • Officer compensation ratio: 1%; rating input score 74; 74th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2.6% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: 8% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 0 of 1 board members independent · 1 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $279K · 1 people listed
  • Highest-paid contractors: 5 contractors listed · $1.3M reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 4 filed schedules · includes foreign activity
  • Filing history: 11 filing years from 2010 to 2024
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.