OVEC-IKEC RETIREE LIFE INSURANCE TRUST (EIN 202499297) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

PNC BANK

Phone

7402897200

Tax Period

2024-01-01 to 2024-12-31

OVEC-IKEC RETIREE LIFE INSURANCE TRUST, founded in 2004, is a small nonprofit in the Mutual Benefit sector that reported $862K in total revenue in fiscal year 2024. Revenue decreased 10% compared to the prior year. Expenses of $1.4M exceeded revenue, resulting in a 66% operating deficit.

Mission

RECEIVE AND HOLD PAYMENTS FOR THE PROVISION OF LIFE INSURANCE BENEFITS FOR RETIREES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $861,711

Other Revenue $0

TOTAL REVENUE $861,711

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,082

Fundraising Expenses $0

Other Expenses $619,229

TOTAL EXPENSES $1,433,772

Year-over-Year Comparison

	2024	2023	Change
Revenue	$861,711	$956,171	-0.1%
Expenses	$1,433,772	$1,508,568	0.0%
Net Income	$-572,061	$-552,397	+0.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JUSTIN J COOPER	DIRECTOR	2.00	Director	$0	$0	$0
PHILLIP S MCALLISTER	DIRECTOR	2.00	Director	$0	$0	$0
TINA I COLLINS	DIRECTOR	2.00	Director	$0	$0	$0
WILLIAM A HART	DIRECTOR	2.00	Director	$0	$0	$0
KASSANDRA K MARTIN	DIRECTOR	2.00	Director	$0	$0	$0
DAVID C RENKOPF	DIRECTOR	2.00	Director	$0	$0	$0
N/A	TRUSTEE	2.00		$5,082	$0	$5,082

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$861,711	$1,433,772	$18,268,082	$-572,061
2023	$956,171	$1,508,568	$18,840,143	$-552,397
2022	$792,310	$907,557	$19,610,584	$-115,247
2021	$1,523,199	$904,086	$19,725,831	$619,113
2020	$1,255,490	$883,950	$19,106,718	$371,540

OVEC-IKEC RETIREE LIFE INSURANCE TRUST