Retirement Security Fund VEBAHRA Trust

Nonprofit profile at a glance

EIN
836651440
IRS 990 coverage
2023–2023
Forms available
Form 990 2023
Location
Mukilteo, WA, USA
Phone
2068592693
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$1,292,353
Expenses
$627,343
Assets
$1,796,502
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

1 person listed

People named in this filing

  • Hand Benefit Trust Co (Trustee)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

A voluntary employees' beneficiary association (veba) to fund reimbursement of eligible medical expenses under a health reimbursement arrangement.

What it reported doing in 2023

Health Reimbursement Arrangement funded by the Retirement Security Fund VEBA Trust benefitting 263 participants throughout plan year 2022.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program 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 most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 86
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 47.1%; rating input score 47
  • Program expense ratio: 96.7%; rating input score 97
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • 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: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 51.5%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 2.86; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 47.1% of revenue deployed · 96.7% of spending went to programs
  • Governance: 1 of 1 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $607K in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 1 filed schedules
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Financial Efficiency: Mission deployment rate scored 47/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.