NYSUT MEMBER BENEFITS CATASTROPHE MAJOR MEDICAL INSURANCE TRUST (EIN 477358956) - 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

J PHILIPPE ABRAHAM

Phone

5182136000

Tax Period

2024-01-01 to 2024-12-31

NYSUT MEMBER BENEFITS CATASTROPHE MAJOR MEDICAL INSURANCE TRUST, founded in 2015, is a mid-sized nonprofit in the Health Care sector that reported $51.3M in total revenue in fiscal year 2024. Revenue surged 26% from the prior year, signaling strong growth momentum. The organization ran a surplus of $22.0M, a strong 43% operating margin.

Mission

THE CATASTROPHE MAJOR MEDICAL PLAN ("CMM PLAN") WAS FORMED UNDER TRUST TO PROVIDE SUPPLEMENTAL (EXCESS MAJOR MEDICAL BENEFITS) HEALTH INSURANCE TO THE NYSUT MEMBERSHIP WHO VOLUNTARILY PARTICIPATE.

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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 $37,445,143

Investment Income $13,810,155

Other Revenue $0

TOTAL REVENUE $51,255,298

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $6,552,344

TOTAL EXPENSES $29,226,113

Year-over-Year Comparison

	2024	2023	Change
Revenue	$51,255,298	$40,748,810	+0.3%
Expenses	$29,226,113	$28,168,874	+0.0%
Net Income	$22,029,185	$12,579,936	+0.8%

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

$561,151

Total Directors

$632,989

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ABRAHAM J PHILIPPE	CHAIRPERSON/TRUSTEE	1.00	Officer Director	$0	$99,570	$265,154
BUSHEY MICHELE	TRUSTEE	1.00	Director	$0	$0	$16,747
FRANZ LAURA	TRUSTEE	1.00	Director	$0	$0	$32,274
CARNER-SHAFRAN SANDRA	TRUSTEE	1.00	Director	$0	$0	$3,195
SHERMAN RODERICK	TRUSTEE	1.00	Director	$0	$0	$2,875
SILL MICHAEL	TRUSTEE	1.00	Director	$0	$0	$16,747
MCCREA GREGORY J	SECRETARY	1.00	Officer Director	$0	$106,971	$295,997
CLEMENT DEREK S	ASST IN MEMBER BENEFITS	3.00	Highest	$0	$105,314	$273,625
FERRUCCI JACLYN L	DEPUTY DIRECTOR FINANCE	1.00	Highest	$0	$113,453	$309,517
LOCKWOOD JEFFREY J	CFO, DIRECTOR OF FINANCE	1.00	Highest	$0	$122,950	$345,374
JACOBSEN MARGARET	DIRECTOR OF MEMBER BENEFIT	10.00	Highest	$0	$57,403	$201,700
KENNEDY MICHELLE	MEMBER BENEFIT SPECIALIST	3.00	Highest	$0	$83,344	$206,699

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	$51,255,298	$29,226,113	$212,113,236	$22,029,185
2023	$40,748,810	$28,168,874	$184,862,048	$12,579,936
2022	$43,148,939	$25,958,750	$159,504,251	$17,190,189
2021	$48,601,749	$27,748,490	$163,944,061	$20,853,259
2020	$41,660,045	$31,298,003	$141,605,758	$10,362,042
2019	$42,411,248	$35,018,157	$121,800,286	$7,393,091
2018	$41,931,127	$31,314,620	$105,026,629	$10,616,507

NYSUT MEMBER BENEFITS CATASTROPHE MAJOR MEDICAL INSURANCE TRUST