Whitaker Construction Group Inc Employee Benefit Trust

Nonprofit profile at a glance

EIN
364684548
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Paso Robles, CA, USA
Phone
8052264020
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$461,955
Expenses
$423,165
Assets
$337,489
Liabilities
$914

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

Leadership & pay

1 person listed

Highest reported compensation

  • MATTHEW BOUSMAN (Trustee): $208,364 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 administer employees health, dental, and life insurance premiumpayments, with the collection of benefits earned through prevailingwages for field employees and additional contributions from theemployer (plan sponsor). Those funds earned by the employees and provided by the employer are tracked by individual employee, and areused to pay the employees monthly health and dental insurance premiumswhen due. Balances are paid out to the employee upon termination andissued a form 1099.

What it reported doing in 2024

The vast majority of revenues and expenses are generated by theoperations of the employee benefit trusts (ebt) plan sponsor(employer). The revenue noted above consists of deposits made by theemployer to the ebt account, which is tracked by employee. Thecalculation of the amounts deposited by the employer are based on theapplicable rates set forth by the California department of industrialrelations (ca dir). Ca dir rates depend on the craft performed by theemployee on prevailing wage-based jobs. Contracts that requireprevailing wage rates paid to their employees are usually withmunicipalities that receive their project funding from taxpayerdollars. The health portion of these fringe benefits are calculated, accrued, and deposited to the ebts bank account monthly by the employer (even though deposits are only required to be made quarterly).these individually tracked funds are then used to pay for theemployees health and dental insurance premiums. The employee alsocontributes an additional amount based on the percentage of privatewage-based hours worked, due to the fact that the ca dir specifies thatthe prevailing wage benefits earned cannot be used to pay for theentire portion of the employees premium, if he/she had private wageearnings in the same period. Thus, the expenses consist of the healthand dental insurance premiums that are paid out of the ebt.

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 95% 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. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 60
  • Accountability: 26
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.5%; rating input score 91
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 8.4%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0.8; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 10.6% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 11.8% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 13.6% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 90.5% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 2 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $423K in reported program spending
  • Leadership: top reported pay $208K · 1 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2020 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Review — Sustainability: Operating margin scored 57/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.