Sealy Corporation Flexible Benefits
Nonprofit profile at a glance
- EIN
- 341279997
- IRS 990 coverage
- 2009–2013
- Forms available
- Form 990 2013
- Location
- Trinity, NC, USA
- Phone
- 3368613500
- Rating
- 70
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Voluntary Employees Beneficiary Associations (Non-Government)
Reported finances
- Revenue
- $2,096,622
- Expenses
- $1,654,706
- Assets
- $0
- Liabilities
- $688,867
Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.
Leadership & pay
1 person listed
Highest reported compensation
- WELLS FARGO BANK NA (TRUSTEE): $833 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The plan is a defined benefit health and welfare plan and provides medical, dental, and short-term disability benefits, the flexible spending account program and the employee assistance program to employees of sealy corporation and certain subsidiaries who have completed 60 days of active, full-time employment and who have elected to participate.
What it reported doing in 2013
Provides health care coverage to eligible members
Operating model
- Revenue model
- Earned-program. 100% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 77
- Transparency & Controls: 90
- Accountability: 42
- Sustainability: 50
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 78.9%; rating input score 79
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd 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: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 21.1%; rating input score 85; 85th percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0.1%; rating input score 86; 86th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -18.5% per year; rating input score 0; 4th percentile among comparable filings
- Asset growth: 11.3% per year; rating input score 100; 74th percentile among comparable filings
Details
- Where the money goes: 78.9% of revenue deployed · 100% of spending went to programs
- Governance: 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.7M in reported program spending
- Leadership: top reported pay $833 · 1 people listed
- Consistency: 14 of 14 current checks pass
- Schedules: 3 filed schedules
- Filing history: 5 filing years from 2009 to 2013
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- 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 — Growth: Revenue growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 0/100.