Salem Community School District Veba Trust
Nonprofit profile at a glance
- EIN
- 453794759
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024
- Location
- Salem, IN, USA
- Phone
- 8128834437
- Rating
- 58
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Voluntary Employees Beneficiary Associations (Non-Government)
Reported finances
- Revenue
- $196,806
- Expenses
- $70,862
- Assets
- $1,575,446
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
2 people listed
People named in this filing
- LUKE DEAN (ASSOCIATE SUPERINTENDENT)
- LANA HAMILTON (TREASURER)
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
Voluntary nbsp; employees apos; nbsp; beneficiary nbsp; association nbsp; the nbsp; trust nbsp; was nbsp; formed nbsp; for nbsp; the nbsp; sole nbsp; purpose nbsp; of nbsp; funding nbsp; retiree nbsp; health nbsp; care nbsp; benefits nbsp; to nbsp; eligible nbsp; plan nbsp; participants
What it reported doing in 2024
Total expense is comprised of health care benefits paid to eligible participants. Total revenue represents the organization s program-related contributions to the veba trust for the purpose of funding retiree health care benefits to participants.
Operating model
- Revenue model
- Investment-supported. 80% 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
MIXED - The filed numbers largely add up and revenue comfortably covers expenses. 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: 51
- Transparency & Controls: 88
- Accountability: 30
- Sustainability: 90
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 34.1%; rating input score 34
- Program expense ratio: 94.8%; rating input score 95
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 87.5%; rating input score 88; 4th 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: 5 of 7 controls in place; rating input score 71
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- 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: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 64%; rating input score 95; 95th percentile among comparable filings
- Total-asset coverage ratio: 22.23; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: -25% per year; rating input score 0; 4th percentile among comparable filings
- Revenue growth: -20.5% per year; rating input score 0; 3rd percentile among comparable filings
- Asset growth: 4.3% per year; rating input score 100; 44th percentile among comparable filings
Details
- Where the money goes: 34.1% of revenue deployed · 94.8% of spending went to programs
- Governance: 5 of 7 filing controls reported
- Programs: 2 filed program accomplishments · $140K in reported program spending
- Leadership: top reported pay $0 · 2 people listed
- Consistency: 9 of 11 current checks pass · 2 findings to review
- Schedules: 1 filed schedules
- Filing history: 5 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.
- Moderate — Financial Efficiency: Mission deployment rate scored 34/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Fund balance restriction sum did not reconcile in the filed values.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.