Newfields Companies Llc Voluntary Employee Benefit Assoc Trust

Nonprofit profile at a glance

EIN
274182894
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-EZ 2024
Location
Atlanta, GA, USA
Phone
4043479050
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$2,736,410
Expenses
$3,489,674
Assets
$242,493
Liabilities
$788,471

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

Leadership & pay

2 people listed

Highest reported compensation

  • WILLIAM L HALL (TRUSTEE): $285,325 total reported compensation
  • LISA MAGUIRE (TRUSTEE): $252,731 total reported compensation

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

Overview

Mission

A voluntary employees' beneficiary association organized to pay life, sick, accident, and similar benefits to members, their dependents, or designated beneficiaries.

What it reported doing in 2024

The organization provided health care benefits to its contributors as set forth in the organization's trust document and benefit contracts.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 98% of its reported program spending for member benefits.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 60
  • Accountability: 94
  • Sustainability: 3
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.2%; rating input score 94
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 9 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: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -27.5%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0.07; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 3.25; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 8.4% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 6.6% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 2.1% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.2% of spending went to programs
  • Governance: 2 of 2 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.3M in reported program spending
  • Leadership: top reported pay $285K · 2 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 11 filing years from 2013 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.