Indiana State University Benefit Plan Trust (EIN 352061758) - 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

1998

Legal Domicile

Principal Officer

Jacob Panagouleas

Phone

8122386257

Tax Period

2024-07-01 to 2025-06-30

Indiana State University Benefit Plan Trust, founded in 1998, is a mid-sized nonprofit in the Mutual Benefit sector that reported $12.7M in total revenue in fiscal year 2024. Revenue surged 1748% from the prior year, signaling strong growth momentum. The organization ran a surplus of $9.2M, a strong 72% operating margin.

Mission

The purpose of this trust fund is to provide life, sick, hospitalization, major medical, accident, disability and other welfare benefits to the eligible employees of Indiana State University and their eligible dependents under numerous employee welfare benefit plans adopted by the University.

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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 $0

Investment Income $12,688,741

Other Revenue $0

TOTAL REVENUE $12,688,741

Expense Breakdown

Grants Paid $0

Salaries & Benefits $72,434

Fundraising Expenses $0

Other Expenses $273,694

TOTAL EXPENSES $3,509,965

Year-over-Year Comparison

	2024	2023	Change
Revenue	$12,688,741	$686,621	+17.5%
Expenses	$3,509,965	$3,436,658	+0.0%
Net Income	$9,178,776	$-2,750,037	-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
N/A	Trustee	3.00		$72,434	$0	$72,434

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	$12,688,741	$3,509,965	$100,618,224	$9,178,776
2024	$686,621	$3,436,658	$98,483,935	$-2,750,037
2023	$-69,079	$4,074,158	$96,124,764	$-4,143,237
2022	$11,694,150	$3,514,275	$97,600,232	$8,179,875
2021	$7,125,334	$2,268,923	$117,840,226	$4,856,411

Indiana State University Benefit Plan Trust