Post-Retirement Life Insurance Trust of El Paso Electric Company

Nonprofit profile at a glance

EIN
845110634
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
El Paso, TX, USA
Phone
9153514205
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$356,812
Expenses
$161,068
Assets
$8,674,137
Liabilities
$2,258

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

Leadership & pay

1 person listed

Highest reported compensation

  • STATE STREET BANK TRUST COMPANY (n/a): $1,130 total reported compensation

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

Overview

Mission

See schedule o

What it reported doing in 2024

The El Paso Electric Company Post Retirement Life Insurance plan provides for payment of post retirement life insurance benefits for collectively bargained and non-collectively bargained retirees and disabled employees and active employees who may have died during the course of their employment with El Paso Electric Company.

Operating model

Revenue model
Other-operating. 90% of the money available for current operations came from other operating revenue.
Distribution model
Member-benefit provider. The nonprofit used 100% of its reported program spending for member benefits.

The verdict

SUPPORTED - The filed numbers largely add up and program spending has grown recently. 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: 56
  • Transparency & Controls: 90
  • Accountability: 24
  • Sustainability: 84
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 43.3%; rating input score 43
  • Program expense ratio: 96%; rating input score 96
  • 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 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: 54.9%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 53.85; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 0.7%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 15.3% per year; rating input score 100; 79th percentile among comparable filings
  • Revenue growth: 32.5% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 2.7% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 43.3% of revenue deployed · 96% of spending went to programs
  • Governance: 0 of 9 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $155K in reported program spending
  • Leadership: top reported pay $1K · 1 people listed
  • Highest-paid contractors: 1 contractor listed · $5K reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 43/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.