Pension Benefit Fund Inc

Nonprofit profile at a glance

EIN
526047658
IRS 990 coverage
2009–2017
Forms available
Form 990 2017
Location
Washington, DC, USA
Phone
2027286200
Rating
24
Verdict
REVIEW
Rating confidence
Limited
Sector
Private Grantmaking Foundations

Reported finances

Revenue
$17,229,760
Expenses
$0
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • LONNIE R STEPHENSON (PRESIDENT)
  • KENNETH W COOPER (VICE PRESIDENT/TREASURER)

Highest reported compensation

  • LONNIE R STEPHENSON (PRESIDENT): $674,614 total reported compensation
  • KENNETH W COOPER (VICE PRESIDENT/TREASURER): $531,350 total reported compensation
  • DARRIN GOLDEN (SECRETARY): $343,314 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To hold title to real estate as described in i.r.c. Sect. 501(c)(2).

What it reported doing in 2017

Internal revenue code section 501(c)(2) title holding company

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up. 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: 0
  • Transparency & Controls: 60
  • Accountability: 18
  • Sustainability: NotEnoughData
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: Limited
  • 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 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: 57.6% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: -8.3% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed
  • Governance: 0 of 3 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $675K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 8 filing years from 2009 to 2017
  • Contacts: How to reach this organization
  • Related organizations: 11 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.