THE MICHAELS ORGANIZATION VOLUNTARY EMPLOYEE BENEFIT TRUST (EIN 225073087) - 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

8565960500

Tax Period

2024-05-01 to 2025-04-30

THE MICHAELS ORGANIZATION VOLUNTARY EMPLOYEE BENEFIT TRUST, founded in 1985, is a mid-sized nonprofit that reported $24.9M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

THE TRUST, A SINGLE-EMPLOYER PLAN, PROVIDES HEALTH AND WELFARE BENEFITS TO FULL-TIME EMPLOYEES OF THE MICHAELS ORGANIZATION (THE SPONSOR) AND THEIR ELIGIBLE DEPENDENTS.

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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 $24,546,119

Investment Income $355,255

Other Revenue $0

TOTAL REVENUE $24,901,374

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $0

Other Expenses $5,331,273

TOTAL EXPENSES $25,271,060

Year-over-Year Comparison

	2024	2023	Change
Revenue	$24,901,374	$23,015,963	+0.1%
Expenses	$25,271,060	$24,222,740	+0.0%
Net Income	$-369,686	$-1,206,777	-0.7%

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
DONALD L MILLER	TRUSTEE	1.0	Director	$0	$0	$0
JOHN O'DONELL	TRUSTEE (THRU 08/24)	1.0	Director	$0	$0	$0
MARK MORGAN	TRUSTEE	1.0	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
2025	$24,901,374	$25,271,060	$11,745,806	$-369,686
2024	$23,015,963	$24,222,740	$12,042,980	$-1,206,777
2023	$21,113,463	$20,856,717	$11,413,026	$256,746
2022	$21,947,816	$22,200,300	$11,156,008	$-252,484
2021	$21,703,266	$20,145,133	$11,014,462	$1,558,133
2020	$19,517,612	$18,350,849	$9,444,767	$1,166,763
2018	$17,187,520	$15,521,364	$10,433,812	$1,666,156

THE MICHAELS ORGANIZATION VOLUNTARY EMPLOYEE BENEFIT TRUST