AMICA RETIREE MEDICAL TRUST

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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

2006

Legal Domicile

Principal Officer

EDMUND SHALLCROSS III

Phone

8006526422

Tax Period

2023-01-01 to 2023-12-31

AMICA RETIREE MEDICAL TRUST, founded in 2006, is a mid-sized nonprofit in the Mutual Benefit sector that reported $12.1M in total revenue in fiscal year 2023. Revenue fell 59% from the prior year — a significant decline worth monitoring. Expenses of $14.8M exceeded revenue, resulting in a 22% operating deficit.

Mission

THE TRUST PROVIDES PARTICIPANTS WITH SICK AND ACCIDENT BENEFITS (WITHIN THE MEANING OF TREAS. REG. SEC. 1.501(C)(9)-(3)(C)). THE TRUST IS FOR THE BENEFIT OF PARTICIPANTS AND ELIGIBLE DEPENDENTS WHO MEET THE ELIGIBILITY CRITERIA UNDER THE AMICA MUTUAL INS. CO. RETIREE MEDICAL PLAN.

Program Service Accomplishments

Program 1

THE TRUST PROVIDES PARTICIPANTS WITH SICK AND ACCIDENT BENEFITS (WITHIN THE MEANING OF TREAS. REG. SEC. 1.501(C)(9)-(3)(C)). THE TRUST IS FOR THE BENEFIT OF PARTICIPANTS AND ELIGIBLE DEPENDENTS WHO MEET THE ELIGIBILTY CRITERIA UNDER THE AMICA MUTUAL INS. CO. RETIREE MEDICAL PLAN.

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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 $0

Investment Income $11,223,955

Other Revenue $902,669

TOTAL REVENUE $12,126,624

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,939,533

TOTAL EXPENSES $14,839,533

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,126,624	$29,879,454	-0.6%
Expenses	$14,839,533	$19,753,044	-0.2%
Net Income	$-2,712,909	$10,126,410	-1.3%

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

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
EDMUND SHALLCROSS III	CHAIRMAN	0.25	Officer Director	$0	$0	$0
SUZANNE CASEY	SECRETARY (THRU 09/2023)	0.25	Officer Director	$0	$0	$0
JENNIFER MORRISON	SECRETARY (AS OF 09/2023)	0.25	Officer Director	$0	$0	$0
SUSAN CHUNG	TRUSTEE	0.25	Director	$0	$0	$0
JAMES LORING	TRUSTEE	0.25	Director	$0	$0	$0
SAMUEL PALMISANO	TRUSTEE	0.25	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	$12,126,624	$14,839,533	$355,834,959	$-2,712,909
2022	$29,879,454	$19,753,044	$332,476,437	$10,126,410
2021	$63,699,828	$27,127,499	$417,421,996	$36,572,329
2020	$18,458,574	$10,000,000	$387,286,931	$8,458,574