Highmark West Virginia Inc Welfare… - Form 990 Financial Data

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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

Principal Officer

DONALD DABKOWSKI

Phone

4125446668

Tax Period

2023-01-01 to 2023-12-31

Highmark West Virginia Inc Welfare Trust, founded in 2005, is a community nonprofit in the Mutual Benefit sector that reported $1.3M in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $3.0M exceeded revenue, resulting in a 129% operating deficit.

Mission

THE ESTABLISHMENT OF AN IRREVOCABLE 501(C)(9) TRUST TO PROVIDE FUNDING FOR MEDICAL AND LIFE BENEFITS FOR ELIGIBLE EMPLOYEES OF THE CORPORATION AND ITS SUBSIDIARY.

Program Service Accomplishments

Program 1

Expenses: $2,971,853 Revenue: $94,340

The Highmark West Virginia Inc. Welfare Trust Fund is an irrevocable 501(c)(9) trust providing funding for medical and life benefits for eligible employees of the corporation.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $94,340

Investment Income $1,205,762

Other Revenue $0

TOTAL REVENUE $1,300,102

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,506

Fundraising Expenses $0

Program Expenses $2,971,853

Other Expenses $192,202

TOTAL EXPENSES $2,980,359

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,300,102	$1,012,060	+0.3%
Expenses	$2,980,359	$3,096,683	0.0%
Net Income	$-1,680,257	$-2,084,623	-0.2%

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

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
The Bank of New York Mellon	Trustee	0.0		$8,506	$0	$8,506

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	No data	No data	No data	No data
2023	$1,300,102	$2,980,359	$13,136,427	$-1,680,257
2022	$1,012,060	$3,096,683	$14,075,674	$-2,084,623
2021	$449,147	$3,251,758	$19,842,437	$-2,802,611
2020	$525,096	$2,998,421	$20,835,555	$-2,473,325

Highmark West Virginia Inc Welfare Trust