HEALTH RESEARCH INC POSTRETIREMENT HEALTH BENEFIT TRUST (EIN 464309365) - Form 990 Financial Analysis & Trantor Score

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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

2014

Legal Domicile

Principal Officer

ANDREW RUBY

Phone

5184311200

Tax Period

2024-04-01 to 2025-03-31

HEALTH RESEARCH INC POSTRETIREMENT HEALTH BENEFIT TRUST, founded in 2014, is a mid-sized nonprofit in the Mutual Benefit sector that reported $23.3M in total revenue in fiscal year 2024. Revenue surged 393% from the prior year, signaling strong growth momentum. The organization ran a surplus of $20.0M, a strong 86% operating margin.

Mission

THE PLAN IS A VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION (VEBA) PLAN ESTABLISHED TO REIMBURSE RETIREE MEDICAL EXPENSES TO ELIGIBLE EMPLOYEES OF HEALTH RESEARCH, INC.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,979,809

Investment Income $20,332,584

Other Revenue $0

TOTAL REVENUE $23,312,393

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $86,366

TOTAL EXPENSES $3,275,369

Year-over-Year Comparison

	2024	2023	Change
Revenue	$23,312,393	$4,724,092	+3.9%
Expenses	$3,275,369	$2,912,970	+0.1%
Net Income	$20,037,024	$1,811,122	+10.1%

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

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

$670,418

Total Directors

$3,780

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL NAZARKO	VICE PRESIDENT	2.00	Officer Director	$0	$0	$3,780
JAMES V MCDONALD	PRESIDENT	2.00	Officer Director	$0	$0	$0
ANDREW RUBY	SECRETARY/TREASURER	2.00	Officer Director	$0	$0	$0
CANDACE JOHNSON	DIRECTOR	0.20	Director	$0	$0	$0
TIM REYNOLDS	DIRECTOR	0.20	Director	$0	$0	$0
JUSTIN P RUNKE ESQ	DIRECTOR	0.20	Director	$0	$0	$0
MARY APPLEGATE	DIRECTOR	0.20	Director	$0	$0	$0
MICHAEL B SEXTON ESQ	DIRECTOR	0.20	Director	$0	$0	$0
MARY BETH HEFNER	DIRECTOR	0.20	Director	$0	$0	$0
CHERYL MATTOX	EXECUTIVE DIRECTOR (THRU 9/2024)	1.00	Officer	$0	$50,474	$211,996
TERESA MAKAROWSKY	CORPORATE CONTROLLER	1.00	Officer	$0	$56,907	$218,801
ELIZABETH WOOD	EXECUTIVE DIRECTOR (START 8/2024)	1.00	Officer	$0	$63,388	$235,841

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	$23,312,393	$3,275,369	$125,179,359	$20,037,024
2024	$4,724,092	$2,912,970	$120,325,911	$1,811,122
2023	$7,551,751	$2,981,639	$105,246,544	$4,570,112
2022	$11,680,215	$2,839,909	$111,523,561	$8,840,306
2021	$7,820,890	$2,487,213	$110,350,727	$5,333,677
2020	$5,745,152	$2,600,133	$82,515,794	$3,145,019
2019	$9,443,432	$2,691,853	$88,230,725	$6,751,579

HEALTH RESEARCH INC POSTRETIREMENT HEALTH BENEFIT TRUST