IPALCO ENTERPRISES INC VOLUNTARY EMPLOYEE BENEFICIARY ASSOC TRUST (EIN 351946825) - 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

2000

Legal Domicile

Principal Officer

MAX CALIFAR

Phone

8123789960

Tax Period

2023-01-01 to 2023-12-31

IPALCO ENTERPRISES INC VOLUNTARY EMPLOYEE BENEFICIARY ASSOC TRUST, founded in 2000, is a community nonprofit that reported $3.0M in total revenue in fiscal year 2023. Revenue fell 43% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $465K, a strong 15% operating margin.

Mission

PROVIDE POST-RETIREMENT MEDICAL BENEFITS TO ELIGIBLE RETIREES 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,777,183

Investment Income $225,055

Other Revenue $1,955

TOTAL REVENUE $3,004,193

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $2,539,648

Other Expenses $716,101

TOTAL EXPENSES $2,539,648

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,004,193	$5,227,402	-0.4%
Expenses	$2,539,648	$5,369,624	-0.5%
Net Income	$464,545	$-142,222	-4.3%

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

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
MAX CALIFAR	COMMITTEE CH	N/A	Director	$0	$0	$0
STEPHEN L MEYER	COMMITTEE SE	N/A	Director	$0	$0	$0
STEPHEN J PLUNKETT	COMMITTEE ME	N/A	Director	$0	$0	$0
CHARISSA AMBROSE	TRUSTEE	N/A		$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	$3,004,193	$2,539,648	$51,285,992	$464,545
2022	$5,227,402	$5,369,624	$48,084,701	$-142,222
2021	$6,244,548	$5,109,410	$63,954,238	$1,135,138
2020	$7,621,815	$6,007,619	$61,847,448	$1,614,196
2019	$5,047,867	$6,330,621	$58,784,969	$-1,282,754
2018	$4,916,573	$5,857,201	$54,337,187	$-940,628

IPALCO ENTERPRISES INC VOLUNTARY EMPLOYEE BENEFICIARY ASSOC TRUST