Washington Education Association Rate Stabilization Reserve Trust

Nonprofit profile at a glance

EIN
911612390
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Federal Way, WA, USA
Phone
2539416700
Rating
36
Verdict
REVIEW
Rating confidence
Moderate

Official website

Reported finances

Revenue
$23,433
Expenses
$106,370
Assets
$1,186,701
Liabilities
$0

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

Leadership & pay

10 people listed

Executive titles in this filing

  • LARRY DELANEY (PRESIDENT-WE)

Highest reported compensation

  • LARRY DELANEY (PRESIDENT-WE): $339,084 total reported compensation
  • JANIE WHITE (VICE PRESIDE): $276,614 total reported compensation
  • FILMA FONTANILLA (TRUSTEE): $1,518 total reported compensation

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

Overview

Mission

To manage experience surpluses in order to stabilize insurance rates for the benefit of members of the participating plans.

What it reported doing in 2024

Transfers to insurers for the purpose of stabilizing annual group insurance rates, reimbursement of excess premiums and related costs to administer and manage the trust.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
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

REVIEW - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 82
  • Sustainability: 32
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -353.9%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 11.16; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 393.6%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -75% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -14.9% per year; rating input score 0; 25th percentile among comparable filings
  • Asset growth: -21% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $106K in reported program spending
  • Leadership: top reported pay $339K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 8 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.