Insurance Company Supported Organizations Group Benefit Plan

Nonprofit profile at a glance

EIN
237258552
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Indianapolis, IN, USA
Phone
3178755250
Rating
49
Verdict
MIXED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$13,861,731
Expenses
$13,590,099
Assets
$4,361,629
Liabilities
$2,359,706

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

Leadership & pay

7 people listed

Highest reported compensation

  • RON CASSESSO (CHAIRMAN): $20,000 total reported compensation

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

Overview

Mission

Icso h&w provides simplified administration, expert advice, and access to a unique mix of employee benefits products for insurance company supported organizations, their employees, and retirees.

What it reported doing in 2024

To provide life, dental, vision, and disability benefits to eligible employees of member companies of the icso health & welfare trust under group insurance contracts with insurance companies, to administer and service medical health insurance plans, sponsored by the member company, and procured through a broker of record for the member company, and to administer and service flexible spending accounts sponsored by the member company by processing funds of the member company to pay fsa benefits that are limited to health care and dependent care benefits.

Operating model

Revenue model
Earned-program. 99% 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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 84
  • Sustainability: 36
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 0.32; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 0.54; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 0.1%; rating input score 92; 92nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 8.3% per year; rating input score 100; 66th percentile among comparable filings
  • Asset growth: 7.8% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $20K · 7 people listed
  • Highest-paid contractors: 1 contractor listed · $263K reported
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2019 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.