NALC HEALTH BENEFIT PLAN FOR EMPLO… - 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

1997

Legal Domicile

Principal Officer

STEPHANIE STEWART

Phone

7037294677

Tax Period

2023-01-01 to 2023-12-31

NALC HEALTH BENEFIT PLAN FOR EMPLOYEES AND STAFF, founded in 1997, is a mid-sized nonprofit in the Mutual Benefit sector that reported $13.9M in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum.

Mission

THE ORGANIZATION IS THE TRUST FOR A WELFARE BENEFIT PLAN THAT COVERS EMPLOYEES AND ANNUITANTS, AND THEIR ELIGIBLE DEPENDENTS AND SURVIVORS, OF THE NATIONAL ASSOCIATION OF LETTER CARRIERS, A TAX-EXEMPT ORGANIZATION, AND ITS RELATED ENTITIES. THE ORGANIZATION IS AN EMPLOYEE BENEFIT PLAN SUBJECT TO THE LAWS OF EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974.

Program Service Accomplishments

Program 1

FUNDED HEALTH BENEFITS (MEDICAL, HOSPITAL, SURGICAL, MAJOR MEDICAL, AND DENTAL) FOR ELIGIBLE PLAN PARTICIPANTS AND THEIR COVERED DEPENDENTS AND BENEFICIARIES.

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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 $13,842,901

Investment Income $26,499

Other Revenue $13,950

TOTAL REVENUE $13,883,350

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,454,053

TOTAL EXPENSES $14,643,064

Year-over-Year Comparison

	2023	2022	Change
Revenue	$13,883,350	$11,361,157	+0.2%
Expenses	$14,643,064	$15,166,667	0.0%
Net Income	$-759,714	$-3,805,510	-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

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

$604,381

Total Directors

$278,003

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIAN RENFROE	ADMINISTRATOR	1.0	Officer	$0	$50,811	$322,812
STEPHANIE STEWART	ASST ADMINISTRATOR	5.0	Officer	$0	$55,471	$281,569
RICK LAFOLLETTE	CONTROLLER	33.0	Highest	$0	$136,034	$268,419
BERNARD PERLMUTTER	ASSISTANT ADMINISTRATOR	34.0	Highest	$0	$91,822	$240,344
JARDINE BERNITA	SUPERINTENDENT OF CLAIMS	1.0	Highest	$0	$70,525	$186,389
SHEWBRIDGE HOWARD	ISS MANAGER	1.0	Highest	$0	$47,937	$157,561
ELHAM GHATRI	ASSISTANT CONTROLLER	2.0	Highest	$0	$39,661	$150,143
SANDRA LAEMMEL	TRUSTEE	1.0	Director	$0	$77,965	$121,233
CHARLES HEEGE	TRUSTEE	1.0	Director	$0	$61,469	$103,781
LAWRENCE D BROWN JR	TRUSTEE	1.0	Director	$0	$8,753	$52,989

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	$13,883,350	$14,643,064	$11,506,166	$-759,714
2022	$11,361,157	$15,166,667	$11,517,966	$-3,805,510
2021	$13,835,222	$13,097,466	$17,172,747	$737,756
2020	$12,053,304	$11,318,265	$18,387,628	$735,039
2019	$11,245,310	$10,755,899	$17,090,617	$489,411
2018	$10,995,869	$10,671,631	$15,349,151	$324,238

NALC HEALTH BENEFIT PLAN FOR EMPLOYEES AND STAFF