Federal Express Corporation Welfare Benefits Trust

Nonprofit profile at a glance

EIN
363282351
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Collierville, TN, USA
Phone
6176622133
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$40,174,454
Expenses
$39,954,619
Assets
$213,147
Liabilities
$0

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

Leadership & pay

1 person listed

Highest reported compensation

  • STATE STREET GLOBAL SERVICES (INSTITUTIONAL TRUSTEE): $370 total reported compensation

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

Overview

Mission

This federal express corporation trust provides disability payments to eligible employees.

What it reported doing in 2024

Expenses related to the accomplishment of the trust's primary exempt purpose.

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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 39
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.8%; rating input score 99
  • Program expense ratio: 99.4%; rating input score 99
  • 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: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 43
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.5%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 0.01; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 99; 99th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 93; 93rd percentile among comparable filings

Growth

  • Program expense growth: 0.5% per year; rating input score 100; 12th percentile among comparable filings
  • Revenue growth: -0.6% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 2.7% per year; rating input score 100; 21st percentile among comparable filings

Details

  • Where the money goes: 98.8% of revenue deployed · 99.4% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $39.7M in reported program spending
  • Leadership: top reported pay $370 · 1 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2015 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 35/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.