Mueller Industries Inc Benefits Trust

Nonprofit profile at a glance

EIN
481121013
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Collierville, TN, USA
Phone
9017533200
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$28,188,719
Expenses
$27,747,534
Assets
$974,198
Liabilities
$0

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

Leadership & pay

2 people listed

Highest reported compensation

  • JEFFREY A MARTIN (TRUSTEE): $14,150,647 total reported compensation
  • CHRISTOPHER J MIRITELLO (TRUSTEE): $5,537,635 total reported compensation

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

Overview

Mission

Voluntary employees beneficiary trust - to provide medical and insurance benefits to employees

What it reported doing in 2024

Voluntary employees beneficiary trust

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Member-benefit provider. The nonprofit used 83% of its reported program spending for member benefits.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 60
  • Accountability: 24
  • Sustainability: 31
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.4%; rating input score 98
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 4 of 9 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.6%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 0.04; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 99; 99th percentile among comparable filings
  • Officer compensation ratio: 17.2%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: -1% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: -0.6% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 17% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 98.4% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 2 board members independent · 4 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $14.2M · 2 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 39 of 39 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Moderate — Sustainability: Operating margin scored 40/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.