RBC USA Health & Welfare Benefit Plan

Nonprofit profile at a glance

EIN
376395038
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Jersey City, NJ, USA
Phone
2124286200
Rating confidence
Limited
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$196,372,711
Expenses
$192,294,663
Assets
$20,967,275
Liabilities
$557,814

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

Leadership & pay

1 person listed

People named in this filing

  • See Schedule O (See Schedule O)

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

Provide certain employees of employer companies medical and dental benefits.

What it reported doing in 2024

This is a self-insured employee welfare benefit plan that provides medical and dental benefits to eligible employees and former employees of U.S. subsidiaries and branches of Royal Bank of Canada covered under the Consolidated Omnibus Budget Reconciliation Act (COBRA).

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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: 24
  • Sustainability: 43
  • Growth: 60

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; 68th 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: Limited
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.1%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 0.11; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 98; 98th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 8% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 10.1% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 10 of 10 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • Moderate — Sustainability: Operating margin scored 43/100.