The Ibew Local 1377 Eligible Ford Retirees Veba Trust

Nonprofit profile at a glance

EIN
266885036
IRS 990 coverage
2011–2025
Forms available
Form 990 2025
Location
Brunswick, OH, USA
Phone
2164101685
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Government)

Reported finances

Revenue
$1,430,134
Expenses
$1,610,919
Assets
$38,417,228
Liabilities
$276,000

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

Leadership & pay

7 people listed

Highest reported compensation

  • MARK HULLMAN (COMMITTEE): $3,000 total reported compensation
  • DAVID OLDHAM (COMMITTEE): $3,000 total reported compensation

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

Overview

Mission

The fund provides certain health insurance premiums, vision, dental, prescription drug, and health benefit claim payments to eligible members of the ibew local union 1377.

Operating model

Revenue model
Investment-supported. 87% of the money available for current operations came from recurring investment income.
Distribution model
Member-benefit provider. The nonprofit used 77% of its reported program spending for member benefits.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 48
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.2%; rating input score 98
  • 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; 64th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • 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: -12.6%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 23.85; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 0.4%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: -1.4% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: -3.2% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: 1.5% per year; rating input score 100; 21st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.2% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.6M in reported program spending
  • Leadership: top reported pay $3K · 7 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 14 filing years from 2011 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 11/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.