HOFFER PLASTICS CORPORATION HEALTH BENEFIT PLAN TRUST

EIN: 363042313

SOUTH ELGIN, IL

Total Revenue
$4,999,709
Total Expenses
$4,971,858
Total Assets
$48,178
Net Assets
$-150,822
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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
1978
Legal Domicile
IL
Phone
8477175636
Tax Period
2024-12-01 to 2025-11-30

HOFFER PLASTICS CORPORATION HEALTH BENEFIT PLAN TRUST, founded in 1978, is a community nonprofit that reported $4.9M in total revenue in fiscal year 2019.

Mission

Provide health, life insurance and short-term disability to eligible employees of Hoffer Plastics Corporation.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $4,999,709
Investment Income $0
Other Revenue $0
TOTAL REVENUE $4,999,709

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $4,171,852
Other Expenses $800,006
TOTAL EXPENSES $4,971,858

Year-over-Year Comparison

2024 2023 Change
Revenue $4,999,709 $4,729,734 +0.1%
Expenses $4,971,858 $4,702,606 +0.1%
Net Income $27,851 $27,128 +0.0%
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

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Governance

Voting Members
3
Independent Members
N/A
Employees
N/A
Volunteers
3

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
0
$0
Total Directors
3
$1,946,405
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Charlotte H Canning Trustee 0.02
Director
$16,710 $21,000 $875,677
Gretchen Hoffer Farb Trustee 0.02
Director
$21,887 $21,000 $863,098
Earl W Dorsey II Trustee 3
Director
$0 $11,692 $207,630
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 $4,999,709 $4,971,858 $48,178 $27,851
2024 $4,729,734 $4,702,606 $21,050 $27,128
2023 $4,228,892 $4,205,776 $-6,079 $23,116
2022 $3,942,624 $3,840,524 $-29,195 $102,100
2021 $4,993,817 $5,146,525 $-72,770 $-152,708
2020 $4,932,661 $5,044,201 $-34,063 $-111,540
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