NRECA GROUP BENEFITS TRUST

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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

1978

Legal Domicile

Principal Officer

DIGNA LOUIS

Phone

7039075960

Tax Period

2023-01-01 to 2023-12-31

NRECA GROUP BENEFITS TRUST, founded in 1978, is a major nonprofit that reported $824.7M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $764.5M left a modest 7% surplus.

Mission

PROVIDE HEALTH AND WELFARE BENEFITS TO MEMBERS OF THE NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION AND ITS MEMBERS.

Program Service Accomplishments

Program 1

Expenses: $764,466,134 Revenue: $0

TOTAL PROGRAM EXPENSES RELATED TO PROVIDING HEALTH AND WELFARE SERVICES TO MEMBERS.

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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 $792,961,154

Investment Income $31,726,880

Other Revenue $0

TOTAL REVENUE $824,688,034

Expense Breakdown

Grants Paid $0

Salaries & Benefits $53,247

Fundraising Expenses $0

Program Expenses $764,466,134

Other Expenses $35,896,437

TOTAL EXPENSES $764,466,134

Year-over-Year Comparison

	2023	2022	Change
Revenue	$824,688,034	$725,995,934	+0.1%
Expenses	$764,466,134	$716,314,025	+0.1%
Net Income	$60,221,900	$9,681,909	+5.2%

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

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

$1,772,110

Total Directors

$3,751,173

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PETER BAXTER	SENIOR VICE PRESIDENT	20.0	Officer Director	$0	$203,454	$1,310,935
TIM SMITH	MEMBER	1.0	Director	$0	$172,682	$536,215
STEVEN W WALTER	MEMBER	1.0	Director	$0	$171,295	$475,541
MEL COLEMAN	MEMBER	2.0	Director	$0	$33,325	$456,289
BRYAN CASE	CHAIRMAN	2.0	Officer Director	$0	$123,372	$417,375
DAVID SPRADLIN	MEMBER	2.0	Director	$0	$128,533	$405,536
STATE STREET CORPORATION	INSTITUTIONAL TRUSTEE	5.0		$53,247	$0	$53,247
LYNN JACOBSON	MEMBER	1.0	Director	$0	$0	$51,232
HUNTER EMORY	VICE CHAIRMAN	0.0	Officer Director	$0	$0	$43,800
DON DOUGLAS	MEMBER	0.0	Director	$0	$0	$29,000
JAMES WEBB	MEMBER	0.0	Director	$0	$0	$25,250

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	$824,688,034	$764,466,134	$777,585,780	$60,221,900
2022	$725,995,934	$716,314,025	$694,733,318	$9,681,909
2021	$725,806,986	$719,852,096	$760,805,496	$5,954,890
2020	$751,839,593	$673,295,810	$742,011,711	$78,543,783