Raytheon Benefit Trust for Active & Retired Employees

Nonprofit profile at a glance

EIN
043206637
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Farmington, CT, USA
Phone
7817906895
Rating confidence
Limited

Reported finances

Revenue
$9,907,805
Expenses
$5,665,322
Assets
$100,832,971
Liabilities
$0

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

Leadership & pay

1 person listed

Highest reported compensation

  • THE BANK OF NEW YORK MELLON (TRUSTEE (SEE SCHEDULE O)): $14,063 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 welfare benefit plan trusts are for the exclusive benefit of the eligible employees and retirees, their dependent & designated beneficiary to collect employee contributions & pay employee benefit (claims), the trust agreements shall be interpreted in a manner consistent with intent & with intention of rtx corporation that the trust here under satisfies provisions of irc relating to vebas.

What it reported doing in 2024

Provision of exclusive benefits to eligible employees and retirees of the employer, their eligible dependents and designated beneficiaries.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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: 91
  • Growth: 20

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; 3rd 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 42.8%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 17.8; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 0.2%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -2.8% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: 4.1% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 0 of 1 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $14K · 1 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.