Global Aerospace Inc Post Retirement Medical Trust
Nonprofit profile at a glance
- EIN
- 826791841
- IRS 990 coverage
- 2018–2024
- Forms available
- Form 990 2024
- Location
- Morris Plains, NJ, USA
- Phone
- 9734908500
- Rating confidence
- Limited
- Sector
- Voluntary Employees Beneficiary Associations (Non-Government)
Reported finances
- Revenue
- $187,837
- Expenses
- $668,032
- Assets
- $1,952,966
- Liabilities
- $30,133
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- JEFFREY BRUNO (TRUSTEE/President)
People named in this filing
- JEFFREY BRUNO (TRUSTEE/President)
- Patricia Coughlin (TRUSTEE/CHAIR)
- Alan Tasker (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
The trust shall be administered for the exclusive purpose of providing medical, prescription, vision, and dental benefits to participants as provided in the global aerospace post-retirement medical plan.
What it reported doing in 2024
The trust was formed january 1, 2017 with the purpose of providing medical, prescription, vision, and dental benefits to participants of the global aerospace postretirement medical plan. Except to the extent recoverable under section 403 of erisa, and subject to the provisions of the plan document, the trust along with all earnings are to be used exclusively for the benefit of the plan participants, and expenses of the trust. Future activities are described in the plan document as follows: the company shall, from time to time, evaluate the funding of the plan and determine the amount to be contributed by the company. The company shall fund the plan in a manner consistent with the provisions of the code, erisa, appropriate state insurance statutes and such other laws and regulations as may be applicable so that the plan shall be funded on a lawful basis. To the extent permitted by governing law, the company shall be free to determine the manner and means of making provision for funding the plan, including the execution of one or more funding agreements setting forth mutually acceptable terms and conditions with respect to the company's contributions to the plan, including without limitation, provisions specifying the manner in which the amount of the obligation shall be determined and paid to the trust. The trustees will hold, invest and reinvest the trust fund assets, and distribute or transfer assets of the fund as directed by the company or service administrator.
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: 100
- Accountability: 70
- Sustainability: 34
- Growth: 0
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; 64th 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; 63rd percentile among comparable filings
- Governance controls: 2 of 7 controls in place; rating input score 29
- 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: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -255.6%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 2.92; rating input score 68; 68th percentile among comparable filings
- Liabilities to assets ratio: 0.02; rating input score 42; 42nd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -7.1% per year; rating input score 0; 8th percentile among comparable filings
- Asset growth: -13.4% per year; rating input score 0; 5th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 6 of 6 board members independent · 2 of 7 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $0 · 6 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 3 filed schedules
- Filing history: 6 filing years from 2018 to 2024
- Contacts: How to reach this organization
- 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: Governance controls: 4 of 6 not reported.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 1/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 42/100.