SAN DIEGO CITY EMPLOYEES RETIREE MEDICAL TRUST

EIN: 454698959 Mutual Benefit

SPOKANE, WA

Total Revenue
$63,271,711
Total Expenses
$14,332,681
Total Assets
$288,823,021
Net Assets
$288,792,699
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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
2011
Legal Domicile
CA
Principal Officer
DEBRA BEVIER
Phone
5098223624
Tax Period
2024-04-01 to 2025-03-31

SAN DIEGO CITY EMPLOYEES RETIREE MEDICAL TRUST, founded in 2011, is a mid-sized nonprofit in the Mutual Benefit sector that reported $63.3M in total revenue in fiscal year 2024. Revenue surged 138% from the prior year, signaling strong growth momentum. The organization ran a surplus of $48.9M, a strong 77% operating margin.

Mission

THE TRUST PROVIDES A VEHICLE TO WHICH CONTRIBUTIONS FROM THE CITY AND PARTICIPATING EMPLOYEES ARE PAID AND THROUGH WHICH THE TRUSTEES CAN CREATE AND ADMINISTER ONE OR MORE EMPLOYEE WELFARE BENEFIT PLANS FOR THE PARTICIPANTS AND THEIR BENEFICIARIES.

Program Service Accomplishments

Program 1

ADMINISTERED A WELFARE BENEFIT PLAN FOR THE PARTICIPANTS AND THEIR BENEFICIARIES (3,011 PARTICIPANTS AT 3/31/25).

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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 $17,243,128
Investment Income $46,028,583
Other Revenue $0
TOTAL REVENUE $63,271,711

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $492,075
TOTAL EXPENSES $14,332,681

Year-over-Year Comparison

2024 2023 Change
Revenue $63,271,711 $26,610,228 +1.4%
Expenses $14,332,681 $12,890,166 +0.1%
Net Income $48,939,030 $13,720,062 +2.6%
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
5
Independent Members
N/A
Employees
N/A
Volunteers
5

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
2
$367,712
Total Directors
5
$768,816
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL ZUCCHET SECRETARY 1.00
Officer Director
$0 $37,105 $367,712
JOEL TIEN TRUSTEE 1.00
Director
$0 $27,900 $225,167
MICHAEL CARR TRUSTEE 1.00
Director
$0 $16,076 $136,337
MAT KOSTRINSKY TRUSTEE 1.00
Director
$0 $0 $39,600
DEBRA BEVIER CHAIRPERSON 1.00
Officer 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
2025 $63,271,711 $14,332,681 $288,823,021 $48,939,030
2024 $26,610,228 $12,890,166 $272,233,327 $13,720,062
2023 $21,277,116 $12,343,069 $240,422,787 $8,934,047
2022 $31,450,538 $10,836,298 $249,053,704 $20,614,240
2021 $27,810,860 $9,051,232 $241,533,875 $18,759,628
2020 $28,749,305 $8,329,594 $179,993,093 $20,419,711
2019 $25,715,730 $5,424,176 $171,047,260 $20,291,554
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