SONOCO COLLECTIVELY BARGAINED VEBA

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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

1998

Legal Domicile

Principal Officer

Michelle V Bankson

Phone

8433837000

Tax Period

2018-01-01 to 2018-12-31

SONOCO COLLECTIVELY BARGAINED VEBA, founded in 1998, is a small nonprofit that reported $503K in total revenue in fiscal year 2018. Revenue fell 75% from the prior year — a significant decline worth monitoring. Expenses of $11.5M exceeded revenue, resulting in a 2190% operating deficit.

Mission

To provide funding for group Health and Welfare plans covering collectively bargained retirees of Sonoco Products Company.

Program Service Accomplishments

Program 1

Expenses: $11,521,000 Revenue: $503,000

Paid or accrued benefits including medical and dental claims and group life premiums.

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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 (2018)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $503,000

Other Revenue $0

TOTAL REVENUE $503,000

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $11,521,000

Other Expenses $11,521,000

TOTAL EXPENSES $11,521,000

Year-over-Year Comparison

	2018	2017	Change
Revenue	$503,000	$2,038,000	-0.8%
Expenses	$11,521,000	$-718,000	-17.0%
Net Income	$-11,018,000	$2,756,000	-5.0%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Julie C Albrecht	Vice President and Chief Financial Officer	40	Officer	$0	$0	$0
Michelle V Bankson	Director, Compensation & Benefits	40	Key Emp	$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
2018	$503,000	$11,521,000	No data	$-11,018,000