First Horizon
Legal name: First Horizon Corporation Employees' Healthcare and Welfare Trust
Nonprofit profile at a glance
- EIN
- 626174729
- IRS 990 coverage
- 2011–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Memphis, TN, USA
- Phone
- 800-382-5465
- Rating
- 83
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $73,306,395
- Expenses
- $71,276,107
- Assets
- $4,479,579
- Liabilities
- $5,771,407
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
People named in this filing
- RHOMES AUR (TRUSTEE (UNTIL 3/24))
- KAREN SONES (TRUSTEE)
- PAMELA HISS (TRUSTEE)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Collect employee and employer contributions for healthcare and remit funds to claims administrators. We focus on five key areas where our support drives long-term growth and well-being in the communities we serve. Protect what’s yours What scams should I be aware of? During Memphis' bicentennial year, we announced our entire company would operate under the unified First Horizon brand name, marking a new era in our rich history. Concurrently, First Tennessee filed an application to convert from a national bank into a Tennessee state-chartered bank to better align with the bank's strategic priorities, streamline oversight processes and provide better client service under the bank's new First Horizon brand. In November 2019, First Horizon National Corporation and Lafayette, Louisiana-based IberiaBank Corporation agreed to merge. The combined company would be one of the largest financial...
What it reported doing in 2024
Collect employee and employer contributions for healthcare and remit funds to claims administrators.
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 93% 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 total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 87
- Transparency & Controls: 90
- Accountability: 76
- Sustainability: 35
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 97.1%; rating input score 97
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th 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; 77th percentile among comparable filings
- Governance controls: 3 of 7 controls in place; rating input score 43
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 2.8%; rating input score 47; 47th percentile among comparable filings
- Total-asset coverage ratio: 0.06; rating input score 2; 2nd percentile among comparable filings
- Liabilities to assets ratio: 1.29; rating input score 3; 3rd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 98; 98th percentile among comparable filings
Growth
- Program expense growth: 10.6% per year; rating input score 100; 76th percentile among comparable filings
- Revenue growth: 7.7% per year; rating input score 100; 65th percentile among comparable filings
- Asset growth: -5.8% per year; rating input score 0; 2nd percentile among comparable filings
Details
- What they do: Mission, programs, and operating context captured from the official website.
- Where the money goes: 97.1% of revenue deployed · 100% of spending went to programs
- Governance: 9 of 9 board members independent · 3 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $71.3M in reported program spending
- Leadership: top reported pay $0 · 12 people listed
- Consistency: 17 of 17 current checks pass
- Schedules: 3 filed schedules
- Filing history: 13 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Related organizations: 2 filed related-organization links
- 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 — Sustainability: Total-asset coverage ratio scored 2/100.
- Moderate — Sustainability: Operating margin scored 47/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 3/100.