TRUSTCO BANK EMPLOYEE BENEFITS TRUST (EIN 222677977) - 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

1985

Legal Domicile

Phone

5183813602

Tax Period

2024-01-01 to 2024-12-31

TRUSTCO BANK EMPLOYEE BENEFITS TRUST, founded in 1985, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2024. Revenue surged 24% from the prior year, signaling strong growth momentum. The organization ran a surplus of $668K, a strong 48% operating margin.

Mission

THE TRUSTCO BANK EMPLOYEE BENEFITS TRUST PROVIDES HEALTH AND WELFARE BENEFITS TO EMPLOYEES OF TRUSTCO BANK. THE BENEFITS ASSOCIATED WITH THE TRUST INCLUDE DENTAL INSURANCE, POST RETIREMENT MEDICAL INSURANCE, AND DEATH BENEFITS.

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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 $121,777

Investment Income $1,266,385

Other Revenue $0

TOTAL REVENUE $1,388,162

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $0

Other Expenses $538,071

TOTAL EXPENSES $720,135

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,388,162	$1,115,923	+0.2%
Expenses	$720,135	$573,399	+0.3%
Net Income	$668,027	$542,524	+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
TRUSTCO BANK NATIONAL ASSOCIATION	TRUSTEE	1.0		$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	$1,388,162	$720,135	$40,497,431	$668,027
2023	$1,115,923	$573,399	$35,352,134	$542,524
2022	$922,188	$453,977	$30,919,168	$468,211
2021	$1,447,141	$759,130	$35,541,774	$688,011
2020	$896,227	$463,979	$31,025,152	$432,248
2019	$1,002,321	$502,812	$28,048,212	$499,509
2018	$719,716	$510,554	$23,542,022	$209,162

TRUSTCO BANK EMPLOYEE BENEFITS TRUST