ND REC Benefit Trust (EIN 475256219) - 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

2015

Legal Domicile

Principal Officer

Josh Kramer

Phone

7016636501

Tax Period

2023-01-01 to 2023-12-31

ND REC Benefit Trust, founded in 2015, is a mid-sized nonprofit in the Mutual Benefit sector that reported $19.5M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $18.2M left a modest 7% surplus.

Mission

The purpose of the Plan and this Trust is to create a federal and state tax exempt voluntary employees' beneficiary association described in the Internal Revenue Code Section 501(c)(9) and its related treasury regulations, to provide group health and other statutorily permitted insured or self-funded benefits as determined by the trustees to employees of the association's employers who agree to participate in the plan of this 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 $19,124,661

Investment Income $409,348

Other Revenue $0

TOTAL REVENUE $19,534,009

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $3,699,647

TOTAL EXPENSES $18,151,127

Year-over-Year Comparison

	2023	2022	Change
Revenue	$19,534,009	$17,966,703	+0.1%
Expenses	$18,151,127	$17,372,080	+0.0%
Net Income	$1,382,882	$594,623	+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

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

$297,156

Total Directors

$436,489

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Josh Kramer	Chair	4.00	Officer Director	$0	$64,993	$297,156
Brenna Ohman	Alternate	2.00	Director	$0	$12,629	$139,333
Christel Laskowski Vice	Chair, See Sch O Explanati	2.00	Officer Director	$0	$0	$0
Sarah Dawson SecretaryTreas-	urer See Sch O Explanation	1.00	Officer Director	$0	$0	$0
Alex Craigmile Alternate	See Sch O Explanation	1.00	Director	$0	$0	$0
Brady Skaff Trustee Jan-Aug	See Sch O Explanation	0.10	Director	$0	$0	$0
Brooke Waltner Trustee Feb-	Dec) See Sch O Explanation	0.50	Director	$0	$0	$0
Casey Jans Alternate	See Sch O Explanation	0.50	Director	$0	$0	$0
Chad Sapa Alternate	See Sch O Explanation	1.00	Director	$0	$0	$0
Cheryl Belle Trustee	See Sch O Explanation	1.00	Director	$0	$0	$0
Dean Volk Alternate	See Sch O Explanation	1.00	Director	$0	$0	$0
Jami Hovet Alternate	See Sch O Explanation	2.00	Director	$0	$0	$0
Jay Lux Trustee	See Sch O Explanation	0.50	Director	$0	$0	$0
Jerry King Trustee	See Sch O Explanation	2.00	Director	$0	$0	$0
Jessica Mack SecretaryTresurer	(Through Aug) See Sch O Explanation	1.00	Director	$0	$0	$0
Julie Armijo Trustee	See Sch O Explanation	1.00	Director	$0	$0	$0
Kandace D'Ambrosio Trustee	See Sch O Explanation	1.00	Director	$0	$0	$0
Kelly Wald Trustee	See Sch O Explanation	1.00	Director	$0	$0	$0
Lenell Jepsen Altnerate Aug-	Dec) See Sch O Explanation	1.00	Director	$0	$0	$0
Marcy Sanders Trustee	See Sch O Explanation	1.00	Director	$0	$0	$0
Michaela Kathrein Perbix	Trustee See Sch O Explanation	1.00	Director	$0	$0	$0
Robert Whalen Trustee	See Sch O Explanation	1.00	Director	$0	$0	$0
Tami Aljets Alternate	See Sch O Explanation	1.00	Director	$0	$0	$0
Theresa Halverson Trustee Oct	Dec) See Sch O Explanation	1.00	Director	$0	$0	$0
Tom Edwards Trustee	See Sch O Explanation	0.50	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	$19,534,009	$18,151,127	$9,496,963	$1,382,882
2022	$17,966,703	$17,372,080	$7,955,491	$594,623
2021	$17,736,079	$17,920,070	$7,495,679	$-183,991
2020	$17,955,769	$15,610,911	$7,721,255	$2,344,858
2019	$16,788,692	$13,958,617	$5,291,752	$2,830,075
2018	$14,907,061	$15,303,199	$2,371,181	$-396,138

ND REC Benefit Trust