Mrt Welfare Benefit Trust

Nonprofit profile at a glance

EIN
367374467
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Houston, TX, USA
Phone
7132071111
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Mutual Insurance Company & Associations

Reported finances

Revenue
$300,305
Expenses
$171,198
Assets
$7,984,802
Liabilities
$0

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

Leadership & pay

6 people listed

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

Overview

Mission

The trust was established in order to receive contributions from the company and to pay for health and welfare benefits for eligible retired employees of the company and their dependents.

What it reported doing in 2024

Veba trust providing employee welfare benefits.

Operating model

Revenue model
Investment-supported. 79% of the money available for current operations came from recurring investment income.
Distribution model
Hybrid. The nonprofit split its reported program spending across 71% for direct work, and 29% for member benefits.

The verdict

SUPPORTED - The filed numbers largely add up and revenue comfortably covers expenses. 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: 58
  • Transparency & Controls: 90
  • Accountability: 36
  • Sustainability: 84
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 50.4%; rating input score 50
  • Program expense ratio: 92.1%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 0%; rating input score 0; 7th 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: 43%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 46.64; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 1.8%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: -13.1% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: -12% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: 1% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 50.4% of revenue deployed · 92.1% of spending went to programs
  • Governance: 0 of 5 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $158K in reported program spending
  • Leadership: top reported pay $3K · 6 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 50/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.