Independent Schools Health Insurance Consortium

Nonprofit profile at a glance

EIN
611749414
IRS 990 coverage
2015–2020
Forms available
Form 990 2020
Location
Pittsburgh, PA, USA
Phone
7242636365
Rating confidence
Limited
Sector
Health, General and Financing

Reported finances

Revenue
$1,609,354
Expenses
$1,923,263
Assets
$68,957
Liabilities
$1,975

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

3 people listed

People named in this filing

  • DIANA MCALLISTER (TRUSTEE)
  • KAREN MCAVOY (TRUSTEE)
  • J GREGORY FORSYTHE (CHAIRMAN 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 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The consortium was created for the purpose of providing health and welfare benefits, including medical, prescription, dental and vision benefits, to participating entities and maintaining an effective employee benefit delivery structure for members, combining resources to reduce cost, to maintain and improve the quality of coverage available and sharing information for the common good of the participating entities.

What it reported doing in 2020

The consortium operates as a voluntary employee's beneficiary association (veba). The consortium functions as a group insurance arrangement through which unrelated participating entities purchase benefits that they make available to eligible individuals. The consortium holds the policies under which benefits are administered and paid, and serves as the conduit for the payment of premiums to the insurer. Certain plan assets are held in a veba trust. The plan is subject to the provisions of the employee retirement security act of 1974 as amended (erisa). Substantially all of the health care coverages are self-insured.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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: 90
  • Accountability: 82
  • Sustainability: 22
  • 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; 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -19.5%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 0.04; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 67; 67th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 83; 83rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -25% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -27.8% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 3 of 3 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2015 to 2020
  • Contacts: How to reach this organization
  • Related organizations: 3 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 8/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.