Target Corporation Employee Benefit Trust

Nonprofit profile at a glance

EIN
411355543
IRS 990 coverage
2010–2013
Forms available
Form 990 2013
Location
Minneapolis, MN, USA
Phone
6127616954
Rating confidence
Limited
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$828,869,122
Expenses
$825,505,856
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

1 person listed

Highest reported compensation

  • State Street Bank and Trust Company (Trustee): $5,562 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provides medical, dental, life and long-term disability benefits to employees and retired employees.

What it reported doing in 2013

Effective February 1, 2005, The Target Corporation comprehensive Medical Plan, The Target Corporation HMO Plan, The Target Corporation Group Life Insurance Plan, The Target Corporation Dental Plan, The Target Corporation Long-Term Disability Plan - Exempt, and the Target Corporation Long-Term Disability Plan - Non-Exempt were merged to create The Target Corporation Employee Umbrella Trusteed Benefit Plan (The Plan). The Plan generally covers eligible employees and retirees of Target Corporation (the Plan Sponsor) and its wholly owned subsidiaries (the Companies).The Plan provides medical, dental, life and long-term disability benefits to eligible employees and eligible retired employees of the Companies. Eligibility is determined on the basis of position and/or hours worked or scheduled per week, depending on the operating company, after a specified length of service. Specific plan designs vary somewhat among companies. Benefits provided under the Plan are provided through both self-insured and fully insured benefit arrangements. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA), as amended.Employees, retirees and the Companies share in the cost of the Plan. Employee contributions are based on rates determined in advance of the plan year in accordance with the historical claims experience and expected future claims experience. The Plan's excess of benefit obligations over net assets available for benefits at January 31, 2014, is expected to be funded by the Companies' and participants' contributions under the plan agreement.There are 192,225 participants in the plan.

Operating model

Revenue model
Earned-program. 100% 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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 18
  • Sustainability: 25
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 67th 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: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.4%; rating input score 29; 29th 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%; rating input score 97; 97th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 1.2% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: -57.6% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 0 of 1 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $6K · 1 people listed
  • Consistency: 10 of 10 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 4 filing years from 2010 to 2013
  • 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 — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 29/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.