New Mexico Gas Company Inc Union Veba Trust Agmnt for Retirees Subj to Collect

Nonprofit profile at a glance

EIN
364641426
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Albuquerque, NM, USA
Phone
5056973398
Rating confidence
Limited
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$146,715
Expenses
$95,754
Assets
$1,844,366
Liabilities
$40,515

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

Leadership & pay

7 people listed

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

Overview

Mission

This trust is established for the purpose of holding assets in accordance with section 403 of erisa, pending the payment of retiree benefits. No portion of the trust fund may be used other than in the sole and exclusive interest of participants, whose eligibility to participate results from employment as a union employee. The immediately preceding sentence shall not be construed to limit the trustee's ability to pay taxes and administrative expenses from the trust fund.

What it reported doing in 2024

Provide funding for future medical, dental and vision benefits for current and future union retirees and their dependents or other plan operating expenses or for purposes incidental to the plan's ordinary operation.

Operating model

Revenue model
Investment-supported. 74% of the money available for current operations came from recurring investment income.
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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 24
  • Sustainability: 77
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • 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: 4 of 8 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: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 34.7%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 19.26; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 0.2%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -12.6% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -1.6% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 0 of 6 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $18K · 7 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.