Maintenance Employees 416 Health & Welfare Fund

Nonprofit profile at a glance

EIN
346504903
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Independence, OH, USA
Phone
2164851521
Rating
34
Verdict
REVIEW
Rating confidence
Moderate

Reported finances

Revenue
$153,821
Expenses
$171,153
Assets
$319,888
Liabilities
$14,546

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

Leadership & pay

3 people listed

Highest reported compensation

  • NICK NARDI (TRUSTEE/CHAI): $151,785 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 provide healthcare benefits for members. Benefits include prescription drugs, dental care, disability benefits, life and accidental death insurance.

What it reported doing in 2024

To provide healthcare benefits for members

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

REVIEW - The filed numbers largely add up and most filed governance safeguards are in place. 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: 60
  • Accountability: 65
  • Sustainability: 32
  • Growth: 20

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; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 16th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -11.3%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 1.87; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 27.1%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -8.3% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 0.8% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 1 of 2 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $152K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 9 of 10 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Related organizations: Filed and resolved organization relationships.
  • 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.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Independent voting board scored 50/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Operating margin scored 21/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.
  • High — Sustainability: Officer compensation ratio scored 13/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.