North Carolina Home Builders Association Inc Group Insurance Trust

Nonprofit profile at a glance

EIN
933411350
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Raleigh, NC, USA
Phone
9196769090
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$5,267,165
Expenses
$5,204,081
Assets
$63,084
Liabilities
$0

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

Leadership & pay

8 people listed

People named in this filing

  • MICHAEL ENSCORE (CHAIR)
  • MARK MARTIN (VICE CHAIR)
  • WES CARROLL (SECRETARY/TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To provide group health insurance and other welfare benefits to the employees of North Carolina home builders assocation's member employers by issuance of one or more fully insured insurance policies.

What it reported doing in 2024

Beginning july 1, 2024 North Carolina home builders association group insurance trust (the trust) began providing group health insurance and other welfare benefits to the employees of North Carolina home builders association member employers by issuance of one or more fully insured insurance policies.the trust program is overseen by an elected board of trustees (trustees). The trustees together with North Carolina home builders association perform all of the activities required to administer the trust and make decisions on the on-going operations of the trust in the best interest of the participants. Those activities include the following:-- the selection of insurance carriers, benefit plans and benefit levels in some situations; -- the selection and appointment of vendors including banking services, contract administrator, investment manager if needed, auditor, and attorney; -- the sales, and marketing of the program including the development of communication materials, and the use of outside sales agents if needed; and -- the general management of trust funds and assets.

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 97% of its reported program spending for member benefits.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 40
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.7%; rating input score 99
  • 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: Limited
  • 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: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 1.2%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0.01; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 98.7% of revenue deployed · 100% of spending went to programs
  • Governance: 8 of 8 board members independent · 7 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $5.2M in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 3 filed schedules
  • Contacts: How to reach this organization
  • Related organizations: 84 filed related-organization links
  • 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 — Sustainability: Total-asset coverage ratio scored 1/100.
  • Moderate — Sustainability: Operating margin scored 38/100.