Loogootee Community School Veba Trust
Nonprofit profile at a glance
- EIN
- 453790143
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024
- Location
- Loogootee, IN, USA
- Phone
- 8122952595
- Rating
- 56
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Voluntary Employees Beneficiary Associations (Non-Government)
Reported finances
- Revenue
- $89,796
- Expenses
- $39,757
- Assets
- $1,050,688
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
2 people listed
People named in this filing
- DR BRIAN HARMON (SUPERINTENDENT)
- SANDRA LAMAR (TREASURER)
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
Voluntary employeesapos beneficiary association. The trust was formed for the sole purpose of funding retiree health care benefits to eligible plan participants.
What it reported doing in 2024
Total expense is comprised of health care benefits paid to eligible participants. Total revenue represents the organizations program-related contributions to the veba trust for the purpose of funding retiree health care benefits to participants.
Operating model
- Revenue model
- Earned-program. 62% 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 - A large share of total spending goes to programs and the filed numbers largely add up. 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: 66
- Transparency & Controls: 62
- Accountability: 30
- Sustainability: 82
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 58.4%; rating input score 58
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 62.5%; rating input score 62; 0th 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: Limited
- Governance controls: 5 of 7 controls in place; rating input score 71
- 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: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 55.7%; rating input score 90; 90th percentile among comparable filings
- Total-asset coverage ratio: 26.43; rating input score 84; 84th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings
Growth
- Program expense growth: -22.6% per year; rating input score 0; 15th percentile among comparable filings
- Revenue growth: -8% per year; rating input score 0; 36th percentile among comparable filings
- Asset growth: 0.2% per year; rating input score 100; 42nd percentile among comparable filings
Details
- Where the money goes: 58.4% of revenue deployed · 100% of spending went to programs
- Governance: 5 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $26K in reported program spending
- Leadership: top reported pay $0 · 2 people listed
- Consistency: 8 of 12 current checks pass · 4 findings to review
- Schedules: 1 filed schedules
- Filing history: 5 filing years from 2020 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.
- Review — Financial Efficiency: Mission deployment rate scored 58/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Fund balance restriction sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX AllOtherExpenses column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Series program expenses within total did not reconcile in the filed values.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.