Brinks Company Employee Welfare Benefit Trust
Brinks Company Employee Welfare Benefit Trust consistently spends more than it earns, drawing down assets by over 50% in a decade.
EIN: 134069764 · Richmond, VA · NTEE: Y43 · Updated: 2026-03-28
Is Brinks Company Employee Welfare Benefit Trust Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Brinks Company Employee Welfare Benefit Trust directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Brinks Company Employee Welfare Benefit Trust
Brinks Company Employee Welfare Benefit Trust (EIN: 134069764) is a nonprofit organization based in Richmond, VA, classified under NTEE code Y43. The organization reported total revenue of $72.2M and total assets of $107.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Brinks Company Employee Welfare Benefit Trust's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Brinks Company Employee Welfare Benefit Trust is a major nonprofit that has been operating for 27 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 18.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $12.9M |
| Total Expenses | $20.6M |
| Surplus / Deficit | $-7,625,543 |
| Total Assets | $111.1M |
| Total Liabilities | $404K |
| Net Assets | $110.7M |
| Operating Margin | -59.0% |
| Debt-to-Asset Ratio | 0.4% |
| Months of Reserves | 64.9 months |
Financial Health Grade: B
In 2023, Brinks Company Employee Welfare Benefit Trust reported a deficit of $7.6M with expenses exceeding revenue, holds 64.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.4% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), Brinks Company Employee Welfare Benefit Trust's revenue has grown at a compound annual growth rate (CAGR) of 18.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +34.9% | -4.5% | -6.5% |
| 2022 | -61.3% | -9.6% | -10.0% |
| 2021 | +140.5% | -10.9% | +0.7% |
| 2020 | -24.7% | -10.9% | -10.6% |
| 2019 | +18.9% | +1.1% | -9.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1999 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Brinks Company Employee Welfare Benefit Trust with a Mission Score of 70 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Brinks Company Employee Welfare Benefit Trust allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $7.6M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.4%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers receive compensation directly from the trust, which is highly efficient for an organization of its size with assets exceeding $100 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Brinks Company Employee Welfare Benefit Trust's IRS 990 filings:
- Consistent deficit spending, with expenses significantly exceeding revenue for many years (e.g., $20.5M expenses vs. $12.9M revenue in 2023).
- Significant decline in assets over the past decade, from $253.8M in 2014 to $111.1M in 2023, indicating reliance on principal for operations.
Strengths
The following positive indicators were identified for Brinks Company Employee Welfare Benefit Trust:
- Zero reported officer compensation, indicating highly efficient administrative overhead in terms of executive pay.
- Long history of IRS 990 filings (14 filings), suggesting consistent compliance and transparency in reporting.
- Likely high program spending ratio, given its nature as a welfare benefit trust where most expenses would be direct benefits.
Frequently Asked Questions about Brinks Company Employee Welfare Benefit Trust
Is Brinks Company Employee Welfare Benefit Trust a legitimate charity?
Based on AI analysis of IRS 990 filings, Brinks Company Employee Welfare Benefit Trust (EIN: 134069764) some concerns. Mission Score: 70/100. 2 red flags identified, 3 strengths noted.
How does Brinks Company Employee Welfare Benefit Trust spend its money?
Brinks Company Employee Welfare Benefit Trust directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Brinks Company Employee Welfare Benefit Trust tax-deductible?
Brinks Company Employee Welfare Benefit Trust is registered as a tax-exempt nonprofit (EIN: 134069764). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is the Brinks Company Employee Welfare Benefit Trust financially sustainable in the long term given its spending patterns?
The trust has consistently spent more than its revenue for at least the past decade, leading to a significant reduction in assets from $253,823,020 in 2014 to $111,114,340 in 2023. This trend suggests that the trust is drawing down its principal, which may not be sustainable indefinitely without new funding sources or a reduction in benefit payouts.
What are the primary drivers of the trust's expenses?
As an employee welfare benefit trust, the primary expenses are expected to be benefit payouts to employees. Without detailed program expense breakdowns, it's assumed the vast majority of expenses are directly related to these benefits.
Why is officer compensation consistently reported as 0%?
The 0% officer compensation suggests that the trust's officers are either uncompensated volunteers or their compensation is covered by the sponsoring Brinks Company directly, rather than through the trust's funds.
Filing History
IRS 990 filing history for Brinks Company Employee Welfare Benefit Trust showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Brinks Company Employee Welfare Benefit Trust's revenue has grown by 780.5%, moving from $1.5M to $12.9M. Total assets decreased by 68.2% over the same period, from $350.0M to $111.1M. Total functional expenses fell by 46.3%, from $38.3M to $20.6M. In its most recent filing year (2023), Brinks Company Employee Welfare Benefit Trust reported a deficit of $7.6M, with expenses exceeding revenue. The organization holds $404K in liabilities against $111.1M in assets (debt-to-asset ratio: 0.4%), resulting in net assets of $110.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $12.9M | $20.6M | $111.1M | $404K | — | — |
| 2022 | $9.6M | $21.5M | $118.8M | $0 | — | View 990 |
| 2021 | $24.7M | $23.8M | $132.0M | $1.3M | — | View 990 |
| 2020 | $10.3M | $26.7M | $131.1M | $1.3M | — | View 990 |
| 2019 | $13.7M | $30.0M | $146.5M | $352K | — | View 990 |
| 2018 | $11.5M | $29.6M | $162.5M | $7K | — | View 990 |
| 2017 | $14.7M | $34.4M | $181.8M | $1.2M | — | View 990 |
| 2016 | $6.3M | $32.6M | $201.1M | $718K | — | View 990 |
| 2015 | $11.2M | $37.0M | $227.7M | $1.1M | — | View 990 |
| 2014 | $31.5M | $34.9M | $253.8M | $1.4M | — | View 990 |
| 2013 | $22.0M | $34.4M | $258.0M | $2.2M | — | View 990 |
| 2012 | $-8,931,353 | $36.1M | $269.4M | $1.2M | — | View 990 |
| 2011 | $5.6M | $39.4M | $314.5M | $14.3M | — | View 990 |
| 2010 | $1.5M | $38.3M | $350.0M | $3.0M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $12.9M, expenses of $20.6M, and assets of $111.1M (revenue +34.9% year-over-year).
- 2022: Revenue of $9.6M, expenses of $21.5M, and assets of $118.8M (revenue -61.3% year-over-year).
- 2021: Revenue of $24.7M, expenses of $23.8M, and assets of $132.0M (revenue +140.5% year-over-year).
- 2020: Revenue of $10.3M, expenses of $26.7M, and assets of $131.1M (revenue -24.7% year-over-year).
- 2019: Revenue of $13.7M, expenses of $30.0M, and assets of $146.5M (revenue +18.9% year-over-year).
- 2018: Revenue of $11.5M, expenses of $29.6M, and assets of $162.5M (revenue -21.7% year-over-year).
- 2017: Revenue of $14.7M, expenses of $34.4M, and assets of $181.8M (revenue +131.1% year-over-year).
- 2016: Revenue of $6.3M, expenses of $32.6M, and assets of $201.1M (revenue -43.3% year-over-year).
- 2015: Revenue of $11.2M, expenses of $37.0M, and assets of $227.7M (revenue -64.5% year-over-year).
- 2014: Revenue of $31.5M, expenses of $34.9M, and assets of $253.8M (revenue +43.2% year-over-year).
- 2013: Revenue of $22.0M, expenses of $34.4M, and assets of $258.0M.
- 2012: Revenue of $-8,931,353, expenses of $36.1M, and assets of $269.4M (revenue -259.2% year-over-year).
- 2011: Revenue of $5.6M, expenses of $39.4M, and assets of $314.5M (revenue +281.9% year-over-year).
- 2010: Revenue of $1.5M, expenses of $38.3M, and assets of $350.0M.
Data Sources and Methodology
This transparency report for Brinks Company Employee Welfare Benefit Trust is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.