The Principal Trust for Health Benefits for Individual Field and Non-Medica

EIN: 411686703

Des Moines, IA

Total Revenue
$-3,794,084
Total Expenses
$10,597,510
Total Assets
$77,709,333
Net Assets
$77,662,541
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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
1992
Legal Domicile
IA
Principal Officer
Mark Konrad
Phone
5158786903
Tax Period
2022-01-01 to 2022-12-31

The Principal Trust for Health Benefits for Individual Field and Non-Medica, founded in 1992, is a micro nonprofit that reported $3.8M in total revenue in fiscal year 2022. Revenue fell 149% from the prior year — a significant decline worth monitoring.

Mission

Provide Health Insurance Benefits to Members

Program Service Accomplishments

Program 1
Expenses: $9,290,970

Benefits Paid to or for Members

Program 2
Expenses: $594,483

Taxes Paid on Investment Income of the Trust

Program 3
Expenses: $712,057

Administrative Fees Paid by the Trust

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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 (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $5,340,604
Investment Income $-9,345,818
Other Revenue $211,130
TOTAL REVENUE $-3,794,084

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $10,597,510
Other Expenses $1,306,540
TOTAL EXPENSES $10,597,510

Year-over-Year Comparison

2022 2021 Change
Revenue $-3,794,084 $7,767,316 -1.5%
Expenses $10,597,510 $12,651,645 -0.2%
Net Income $-14,391,594 $-4,884,329 +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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Governance

Voting Members
16
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
0
$0
Total Directors
16
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Dennis Menken Investment Committee 1.00
Director
$0 $0 $0
Jack Bishop Investment Committee 1.00
Director
$0 $0 $0
Lisa Coulson Investment Committee 1.00
Director
$0 $0 $0
Kara Hoogenson Investment Committee 1.00
Director
$0 $0 $0
Kenneth McCullum Investment Committee 1.00
Director
$0 $0 $0
Joel Pitz Investment Committee 1.00
Director
$0 $0 $0
Dwight Soethout Investment Committee 1.00
Director
$0 $0 $0
Deanna Strable Investment Committee 1.00
Director
$0 $0 $0
Janis Winterhof Investment Committee 1.00
Director
$0 $0 $0
Lisa Coulson Administrative Committee 1.00
Director
$0 $0 $0
Joseph McCarty Administrative Committee 1.00
Director
$0 $0 $0
Nathan Schelhaas Administrative Committee 1.00
Director
$0 $0 $0
Jon Couture Administrative Committee 1.00
Director
$0 $0 $0
Andrew Dion Administrative Committee 1.00
Director
$0 $0 $0
Kevin Farley Administrative Committee 1.00
Director
$0 $0 $0
Gina Graham Administrative Committee 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
2022 $-3,794,084 $10,597,510 $77,709,333 $-14,391,594
2021 $7,767,316 $12,651,645 $92,146,794 $-4,884,329
2020 $21,340,847 $11,028,346 $97,023,559 $10,312,501
2020 $21,340,847 $11,028,346 $97,023,559 $10,312,501
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