SONOCO COLLECTIVELY BARGAINED VEBA

EIN: 576179868

Hartsville, SC

Total Revenue
$503,000
Total Expenses
$11,521,000
Total Assets
N/A
Net Assets
N/A
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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
SC
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

Funding vehicle for group health and welfare plans covering collectively bargained retirees of Sonoco Products Company.

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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%)

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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

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Governance

Voting Members
2
Independent Members
2
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
1
$0
Total Directors
0
$0
Key Employees
1
$0
Highest Compensated
0
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
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