IPA Crewmember VEBA Trust

Nonprofit profile at a glance

EIN
825262677
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Louisville, KY, USA
Phone
5029680341
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$8,488,512
Expenses
$966,483
Assets
$40,328,353
Liabilities
$0

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

Leadership & pay

4 people listed

Highest reported compensation

  • William B Norris (VEBA Trustee): $36,621 total reported compensation
  • Stephan J Whyte (VEBA Trustee): $36,621 total reported compensation
  • Herbert H Hurst (VEBA Trustee): $9,866 total reported compensation

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

Overview

Mission

To fund reimbursement of medical expenses under a health reimbursement arrangement.

What it reported doing in 2024

Health reimbursement arranagement by organization had approximately 4174 participants who received medical care in the amount of $733,292

Operating model

Revenue model
Earned-program. 87% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 100% of its reported program spending for member benefits.

The verdict

SUPPORTED - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 30
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 87
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 7.8%; rating input score 8
  • Program expense ratio: 75.9%; rating input score 76
  • 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: 3 of 9 controls in place; rating input score 43
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 88.6%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 41.73; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 26.7% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 15.5% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 28.2% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 7.8% of revenue deployed · 75.9% of spending went to programs
  • Governance: 1 of 1 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $733K in reported program spending
  • Leadership: top reported pay $37K · 4 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • 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 8/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.