Southwest Research Institute Voluntary Employees Beneficiary Association

Nonprofit profile at a glance

EIN
741966423
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
San Antonio, TX, USA
Phone
2106845111
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$39,508,700
Expenses
$39,445,524
Assets
$4,573,264
Liabilities
$100,000

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

Leadership & pay

19 people listed

Executive titles in this filing

  • Adam Hamilton (President)

Highest reported compensation

  • Adam Hamilton (President): $1,783,365 total reported compensation
  • WD Downing (Director): $1,075,094 total reported compensation
  • Beth Ann Rafferty (V.P. Finance): $667,388 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The plan is a self-funded plan that provides health care benefits (medical and dental) to active employees of Southwest Research Institute and other eligible persons.

What it reported doing in 2024

Medical and dental benefits for approximately 3,000 members and their dependents.

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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 60
  • Accountability: 74
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.7%; rating input score 100
  • 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: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 78.6%; rating input score 79; 15th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.2%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 0.12; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 89; 89th percentile among comparable filings
  • Officer compensation ratio: 0.6%; rating input score 89; 89th percentile among comparable filings

Growth

  • Program expense growth: 2.3% per year; rating input score 100; 21st percentile among comparable filings
  • Revenue growth: 2.3% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: 6.7% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 99.7% of revenue deployed · 100% of spending went to programs
  • Governance: 11 of 14 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $39.4M in reported program spending
  • Leadership: top reported pay $1.8M · 19 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.