Trinity Health Welfare Benefit Trust

Nonprofit profile at a glance

EIN
208151733
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Livonia, MI, USA
Phone
7343431000
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$3,804,099
Expenses
$3,977,778
Assets
$207,061,601
Liabilities
$6,078

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

Leadership & pay

1 person listed

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

Overview

Mission

To receive, hold, and invest contributions to provide retiree medical benefits and retiree life insurance coverage offered by the trinity health corporation retiree benefit plan 506 (grandfathered) to eligible retirees and their dependents.

What it reported doing in 2024

The trinity health corporation retiree benefit plan 506 (grandfathered) ("retiree plan") is, in part, a funded welfare benefit plan administered by trinity health corporation. Trinity health corporation established the trinity health welfare benefit trust, a voluntary employee beneficiary association (veba) trust under irc section 501(c)(9), to hold a portion of the retiree plan assets for payment of certain retiree medical and life insurance benefits.

Operating model

Revenue model
Investment-supported. 87% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - 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 some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 30
  • Sustainability: 60
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.7%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 4th 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: Limited
  • Governance controls: 5 of 9 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -4.6%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 52.05; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 94; 94th percentile among comparable filings
  • Officer compensation ratio: 0.1%; rating input score 83; 83rd percentile among comparable filings

Growth

  • Program expense growth: 12.9% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 3.5% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: 9.3% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.7% of spending went to programs
  • Governance: 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.8M in reported program spending
  • Leadership: top reported pay $3K · 1 people listed
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Operating margin scored 21/100.