Teamsters Local 251 Health Services and Insurance Plan

Nonprofit profile at a glance

EIN
050271216
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Providence, RI, USA
Phone
4014673323
Rating confidence
Limited

Reported finances

Revenue
$76,394,551
Expenses
$72,683,881
Assets
$174,785,891
Liabilities
$403,004

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

Leadership & pay

8 people listed

Highest reported compensation

  • MATTHEW G TAIBI (UNION TRUSTEE/CO-CHAIRMAN): $212,489 total reported compensation
  • PAUL J SANTOS (UNION TRUSTEE): $206,388 total reported compensation
  • TAMMY BEAUDREAULT (FUND ADMINISTRATOR): $200,622 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 provides medical, hospitalization, dental, vision, hearing, life insurance, weekly accident and sickness, long-term disability, income tax preparation, and prescription drug benefits as well as an employees' assistance program for eligible participants and their dependents. The plan also provides a program of benefits for eligible retirees.

What it reported doing in 2024

The plan provides medical, hospitalization, dental, vision, hearing, life insurance, weekly accident and sickness, long-term disability, income tax preparation, and prescription drug benefits as well as an employees' assistance program for approximately 3,203 members and their dependents.

Operating model

Revenue model
Earned-program. 94% 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: 66
  • Accountability: 53
  • Sustainability: 68
  • Growth: 60

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; 68th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 13th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 57
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.9%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 2.4; rating input score 69; 69th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 0.6%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 6.1% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 10.6% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 3 of 6 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $212K · 8 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.7M reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 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.
  • 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.

  • Review — Accountability: Independent voting board scored 50/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Review — Sustainability: Operating margin scored 56/100.