Trust Agreement for the Ohio Farme… - 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

1996

Legal Domicile

Principal Officer

Jennifer Palmieri

Phone

3308870461

Tax Period

2023-01-01 to 2023-12-31

Trust Agreement for the Ohio Farmers Insurance Co Group Health Benefit Plan, founded in 1996, is a mid-sized nonprofit in the Mutual Benefit sector that reported $36.9M in total revenue in fiscal year 2023.

Mission

Provide health benefits including hospitalization, major medical, dental, prescription drug, and other health benefits to participants and their dependents. Also provides for employee assistance programs and retiree health and life plans.

Program Service Accomplishments

Program 1

Paid benefits (medical, dental, vision, prescription drug, life) claims for active employees, retirees, beneficiaries

Program 2

Payments to third party contractors for administration of 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $36,052,730

Investment Income $797,614

Other Revenue $0

TOTAL REVENUE $36,850,344

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,906,172

TOTAL EXPENSES $36,333,446

Year-over-Year Comparison

	2023	2022	Change
Revenue	$36,850,344	$36,980,993	0.0%
Expenses	$36,333,446	$37,538,064	0.0%
Net Income	$516,898	$-557,071	-1.9%

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
Jennifer Palmieri	Chairman	1.00	Director	$0	$0	$0
Joseph Kohmann	Treasurer	1.00	Director	$0	$0	$0
Jodi Abbate	BAC Member	1.00	Director	$0	$0	$0
Kathy Golovan	BAC Member	1.00	Director	$0	$0	$0
Jeffrey Gillentine	BAC Member	1.00	Director	$0	$0	$0
Krishna Patel	BAC Member	1.00	Director	$0	$0	$0
George Wiswesser	BAC Member, resigned	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	No data	No data	No data	No data
2023	$36,850,344	$36,333,446	$10,628,551	$516,898
2022	$36,980,993	$37,538,064	$10,677,827	$-557,071
2021	$35,174,264	$34,672,396	$14,600,079	$501,868
2020	$33,892,292	$34,182,603	$11,764,784	$-290,311

Trust Agreement for the Ohio Farmers Insurance Co Group Health Benefit Plan