Ipalco Enterprises Inc Voluntary Employee Beneficiary Assoc Trust

Nonprofit profile at a glance

EIN
351946825
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Indianapolis, IN, USA
Phone
8123789960
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$2,941,946
Expenses
$2,605,181
Assets
$54,038,004
Liabilities
$161,379

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

Leadership & pay

4 people listed

People named in this filing

  • MAX CALIFAR (COMMITTEE CH)
  • STEPHEN L MEYER (COMMITTEE SE)
  • STEPHEN J PLUNKETT (COMMITTEE ME)

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

Provide post-retirement medical benefits to eligible retirees and their eligible dependents.

What it reported doing in 2024

Provide post-retirement medical and pharmacy benefits to eligible retirees and their eligible dependents.

Operating model

Revenue model
Earned-program. 92% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 76% of its reported program spending for member benefits.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 80
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.5%; rating input score 81
  • Program expense ratio: 100%; rating input score 100
  • 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: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 11.4%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 20.74; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 90; 90th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: -7.8% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -1.2% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -2.2% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 81.5% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.6M in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 14 filing years from 2010 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.