Interstate Power & Light Employees Bargaining & Welfare Trust

Nonprofit profile at a glance

EIN
421418526
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Madison, WI, USA
Phone
6084580577
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$11,015,782
Expenses
$6,324,506
Assets
$59,159,571
Liabilities
$0

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

Leadership & pay

1 person listed

Highest reported compensation

  • Principle Custody Solutions (Trustee): $6,304 total reported compensation

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

Overview

Mission

Provide health care benefits for the retired union employees of interstate power & light company

Operating model

Revenue model
Investment-supported. 65% of the money available for current operations came from recurring investment income.
Distribution model
Member-benefit provider. The nonprofit used 97% of its reported program spending for member benefits.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 12
  • Sustainability: 93
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • 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: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 42.6%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 9.35; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 99; 99th percentile among comparable filings
  • Officer compensation ratio: 0.1%; rating input score 92; 92nd percentile among comparable filings

Growth

  • Program expense growth: 1.3% per year; rating input score 100; 16th percentile among comparable filings
  • Revenue growth: 23.7% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: -5.8% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 5 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $6.3M in reported program spending
  • Leadership: top reported pay $6K · 1 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Asset growth scored 0/100.