Principal Trust-Health&Disability … - Form 990 Financial Data

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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

Principal Officer

Mark Konrad

Phone

5152475111

Tax Period

2023-01-01 to 2023-12-31

Principal Trust-Health&Disability Ben for Act & Non-Medicare Elig Rets, founded in 1992, is a mid-sized nonprofit that reported $76.4M in total revenue in fiscal year 2023. Expenses of $190.6M exceeded revenue, resulting in a 149% operating deficit.

Mission

Provide Health Insurance and Disability Benefits to Members

Program Service Accomplishments

Program 1

Expenses: $180,180,358

Benefits Paid to or for Members

Program 2

Expenses: $4,951,923

Taxes Paid on Investment Income of the Trust

Program 3

Expenses: $5,419,053

Administrative Fees Paid by 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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $48,218,658

Investment Income $8,315,749

Other Revenue $19,902,069

TOTAL REVENUE $76,436,476

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $190,551,334

Other Expenses $10,370,976

TOTAL EXPENSES $190,551,334

Year-over-Year Comparison

	2023	2022	Change
Revenue	$76,436,476	$-16,475,014	-5.6%
Expenses	$190,551,334	$161,237,607	+0.2%
Net Income	$-114,114,858	$-177,712,621	-0.4%

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
Dennis Menken	Investment Committee	1.00	Director	$0	$0	$0
Jack Bishop	Investment Committee	1.00	Director	$0	$0	$0
Staci Cunningham	Investment Committee	1.00	Director	$0	$0	$0
Kara Hoogensen	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
Shea Treadway	Administrative Committee	1.00	Director	$0	$0	$0
Jon Couture	Administrative Committee	1.00	Director	$0	$0	$0
Brian Ness	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
Lisa Coulson	Investment Committee	1.00		$0	$0	$0
Nathan Schelhaas	Administrative Committee	1.00		$0	$0	$0
Andrew Dion	Administrative Committee	1.00		$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	$76,436,476	$190,551,334	$313,502,723	$-114,114,858
2022	$-16,475,014	$161,237,607	$343,087,939	$-177,712,621
2021	$81,628,644	$131,983,517	$521,163,878	$-50,354,873
2020	$166,099,133	$96,738,798	$571,346,778	$69,360,335
2020	$166,099,133	$96,738,798	$571,346,778	$69,360,335
2019	$103,596,934	$110,953,691	$502,287,176	$-7,356,757

Principal Trust-Health&Disability Ben for Act & Non-Medicare Elig Rets