Public Employees Federation Public Employees Benefits Fund

Nonprofit profile at a glance

EIN
237357996
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Albany, NY, USA
Phone
5187851900
Rating confidence
Limited

Reported finances

Revenue
$1,202
Expenses
$3,348
Assets
$65,026
Liabilities
$3,270

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

Leadership & pay

4 people listed

Highest reported compensation

  • WAYNE SPENCE (TRUSTEE): $142,199 total reported compensation
  • JOSEPH DONAHUE (TRUSTEE): $78,071 total reported compensation
  • DARLENE WILLIAMS (TRUSTEE - PAST): $69,918 total reported compensation

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

Overview

Mission

The fund's mission is to provide certain health benefits to members of the New York state public employees federation, afl-cio.

What it reported doing in 2024

From its inception to 1993, the fund provided dental, optical, and prescription drug benefits to eligible participants and their covered dependents. In 1993, as a result of a collective bargaining agreement between the New York state public employees federation, afl-cio (pef) and the state of New York, contributions to the fund ceased, benefits paid from the fund were terminated, and the fund intended to liquidate its assets and liabilities. During 2017 the board of trustees decided to reactivate the fund, and from february 2018 through march 2021 the fund provided accidental death and dismemberment benefits to approximately 55,000 members of pef.

Operating model

Revenue model
Investment-supported. 100% 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: 12
  • Sustainability: 32
  • Growth: 40

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; 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: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 29
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -178.5%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 19.42; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 1,510.2%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5.9% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: -19% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 0 of 3 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $142K · 4 people listed
  • Consistency: 10 of 10 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • 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.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.