Michiana Area Eletrical Workers Plan 4 Trust

Nonprofit profile at a glance

EIN
821241822
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Lansing, MI, USA
Phone
5173217502
Rating
53
Verdict
MIXED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$3,169,573
Expenses
$1,243,229
Assets
$12,547,936
Liabilities
$48,067

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

Leadership & pay

6 people listed

Highest reported compensation

  • MIKE LEDA (TRUSTEE): $155,125 total reported compensation
  • JASON PIONTEK (SECRETARY): $144,603 total reported compensation

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

Overview

Mission

Funding provided to help offset the costs of subsidized retiree health care.

What it reported doing in 2024

The purpose of the Trust is to provide funding to the Michiana Area Electrical Workers Health & Welfare Fund to offset the cost of subsidized retiree health care costs

Operating model

Revenue model
Earned-program. 86% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 92% of its reported program spending for member benefits.

The verdict

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 64
  • Accountability: 16
  • Sustainability: 87
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 33.8%; rating input score 34
  • 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: 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: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 60.8%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 10.09; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 90; 90th percentile among comparable filings
  • Officer compensation ratio: 7.1%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 63.3% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 9.4% per year; rating input score 100; 66th percentile among comparable filings
  • Asset growth: 25.8% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 33.8% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 6 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $155K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 7 filing years from 2018 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 34/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.