South Carolina Bankers Employee Benefit Trust

Nonprofit profile at a glance

EIN
570741877
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Chapin, SC, USA
Phone
8035758401
Rating
45
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$9,416,942
Expenses
$8,900,946
Assets
$4,681,148
Liabilities
$783,467

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

9 people listed

Highest reported compensation

  • TERESA D TAYLOR (EXECUTIVE DI): $111,688 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provision of insurance benefits

What it reported doing in 2025

The organization was formed as a voluntary employees' beneficiary association (veba) under internal revenue code section 501(c)(9) to provide health care coverage and other insurance benefits to members.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
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 most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 74
  • Sustainability: 39
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.5%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 0.53; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 1.3%; rating input score 77; 77th percentile among comparable filings

Growth

  • Program expense growth: -13.5% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -4.3% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 0.3% per year; rating input score 100; 11th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $8.9M in reported program spending
  • Leadership: top reported pay $112K · 9 people listed
  • Highest-paid contractors: 2 contractors listed · $569K reported
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 16 filing years from 2010 to 2025
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.