Usb Welfare Benefit Plan

Nonprofit profile at a glance

EIN
411849855
IRS 990 coverage
2020–2020
Forms available
Form 990 2020
Location
Milwaukee, WI, USA
Phone
6514954109
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$532,086,986
Expenses
$650,836,974
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

1 person listed

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

This fund has been created for the purpose of providing and maintaining either directly or through the purchase of insurance, or both, those life, accident, sickness, medical, surgical and dental benefits or short or long term disability income replacement benefits as defined in the benefit plan.

What it reported doing in 2020

This trust is a voluntary employee benefit association (veba) that was established to fund and distribute employee benefits.

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 91% 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 13
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • 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: 100%; rating input score 100; 80th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 29
    • 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: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -22.3%; rating input score 3; 3rd 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 96; 96th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 1 of 1 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $7K · 1 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 4 filed schedules
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.