LOCAL 649 HEALTH REIMBURSEMENT ACCOUNT PLAN

EIN: 203473925 Mutual Benefit

PEORIA, IL

Total Revenue
$194,757
Total Expenses
$43,487
Total Assets
$834,467
Net Assets
$756,687
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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
2005
Legal Domicile
IL
Principal Officer
MICHAEL HIGH
Phone
3096970070
Tax Period
2024-01-01 to 2024-12-31

LOCAL 649 HEALTH REIMBURSEMENT ACCOUNT PLAN, founded in 2005, is a small nonprofit in the Mutual Benefit sector that reported $195K in total revenue in fiscal year 2024. Revenue surged 488% from the prior year, signaling strong growth momentum. The organization ran a surplus of $151K, a strong 78% operating margin.

Mission

TO PERMIT ELIGIBLE PARTICIPANTS TO OBTAIN REIMBURSEMENT OF CERTAIN QUALIFIED MEDICAL EXPENSES.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $33,557
Other Revenue $161,200
TOTAL REVENUE $194,757

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $26,684
TOTAL EXPENSES $43,487

Year-over-Year Comparison

2024 2023 Change
Revenue $194,757 $33,117 +4.9%
Expenses $43,487 $51,246 -0.2%
Net Income $151,270 $-18,129 -9.3%
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

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Governance

Voting Members
6
Independent Members
6
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
2
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DARREN SMITH CHAIRMAN 1.00
Officer Director
$0 $0 $0
MIKE HIGH TRUSTEE 1.00
Officer Director
$0 $0 $0
TOM MEISCHNER TRUSTEE 1.00
Director
$0 $0 $0
JOHN BASHAM TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL CULLINAN TRUSTEE 1.00
Director
$0 $0 $0
JOE VANDRAN TRUSTEE 1.00
Director
$0 $0 $0
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 $194,757 $43,487 $834,467 $151,270
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