Ovec Ikec Retiree Medical Tr
Ovec Ikec Retiree Medical Tr consistently operates with zero officer compensation and substantial assets, though recent expenses exceed revenues.
EIN: 202499420 · Piketon, OH · NTEE: Y43 · Updated: 2026-03-28
Is Ovec Ikec Retiree Medical Tr Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Ovec Ikec Retiree Medical Tr directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Ovec Ikec Retiree Medical Tr
Ovec Ikec Retiree Medical Tr (EIN: 202499420) is a nonprofit organization based in Piketon, OH, classified under NTEE code Y43. The organization reported total revenue of $6.4M and total assets of $24.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ovec Ikec Retiree Medical Tr's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Ovec Ikec Retiree Medical Tr is a mid-size nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -8.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.4M |
| Total Expenses | $4.1M |
| Surplus / Deficit | $-2,654,805 |
| Total Assets | $25.6M |
| Net Assets | $25.6M |
| Operating Margin | -190.2% |
| Months of Reserves | 75.8 months |
Financial Health Grade: B
In 2023, Ovec Ikec Retiree Medical Tr reported a deficit of $2.7M with expenses exceeding revenue, holds 75.8 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Ovec Ikec Retiree Medical Tr's revenue has declined at a compound annual growth rate (CAGR) of -8.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -15.0% | +109.1% | -9.4% |
| 2022 | -26.5% | -36.6% | -1.0% |
| 2021 | +110.1% | +1.4% | -2.8% |
| 2020 | -35.4% | +29.7% | -6.2% |
| 2019 | -0.1% | +1858.1% | -2.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Ovec Ikec Retiree Medical Tr with a Mission Score of 85 out of 100 (Excellent). 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, Ovec Ikec Retiree Medical Tr 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 $2.7M, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all filings, indicating that no officers receive compensation from the organization, which is highly favorable for a trust of its size with assets exceeding $25 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 Ovec Ikec Retiree Medical Tr's IRS 990 filings:
- Consistent expenses exceeding revenue in recent periods, indicating asset drawdowns.
Strengths
The following positive indicators were identified for Ovec Ikec Retiree Medical Tr:
- Zero officer compensation reported across all filings.
- Consistently reports zero liabilities, indicating strong financial stability.
- Substantial asset base ($25,570,720 in 202312) to fulfill its mission.
- Long filing history (13 filings) demonstrates consistent operation and transparency.
Frequently Asked Questions about Ovec Ikec Retiree Medical Tr
Is Ovec Ikec Retiree Medical Tr a legitimate charity?
Based on AI analysis of IRS 990 filings, Ovec Ikec Retiree Medical Tr (EIN: 202499420) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Ovec Ikec Retiree Medical Tr spend its money?
Ovec Ikec Retiree Medical Tr directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Ovec Ikec Retiree Medical Tr tax-deductible?
Ovec Ikec Retiree Medical Tr is registered as a tax-exempt nonprofit (EIN: 202499420). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Ovec Ikec Retiree Medical Tr a good charity?
Based on the available data, Ovec Ikec Retiree Medical Tr demonstrates strong financial health in terms of asset base and very low administrative costs, particularly with zero officer compensation. Its consistent operation with zero liabilities is also a positive indicator. However, it's important to understand that as a retiree medical trust, its financial model often involves disbursing funds from its principal, leading to expenses exceeding revenue in some periods, which is not necessarily a negative for this type of entity.
How does the organization manage its expenses relative to its revenue?
In recent years, such as 202312 and 202212, the organization's expenses ($4,050,396 and $1,936,763 respectively) have exceeded its revenues ($1,395,591 and $1,641,055 respectively). This suggests the trust is drawing down on its assets to fulfill its obligations, which is typical for a retiree medical trust designed to provide benefits over time.
What is the trend in the organization's assets?
The organization's assets have shown a gradual decline from a peak of $31,965,665 in 201812 to $25,570,720 in 202312. This trend is consistent with a trust that is disbursing funds to its beneficiaries over time, as its primary purpose is to manage and distribute assets for retiree medical benefits.
Filing History
IRS 990 filing history for Ovec Ikec Retiree Medical Tr showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Ovec Ikec Retiree Medical Tr's revenue has declined by 63.1%, moving from $3.8M to $1.4M. Total assets increased by 206.2% over the same period, from $8.4M to $25.6M. Total functional expenses rose by 22597.7%, from $18K to $4.1M. In its most recent filing year (2023), Ovec Ikec Retiree Medical Tr reported a deficit of $2.7M, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.4M | $4.1M | $25.6M | $0 | — | — |
| 2022 | $1.6M | $1.9M | $28.2M | $0 | — | View 990 |
| 2021 | $2.2M | $3.1M | $28.5M | $0 | — | View 990 |
| 2020 | $1.1M | $3.0M | $29.3M | $0 | — | View 990 |
| 2019 | $1.6M | $2.3M | $31.3M | $2K | — | View 990 |
| 2018 | $1.6M | $119K | $32.0M | $0 | — | View 990 |
| 2017 | $1.1M | $184K | $30.4M | $0 | — | View 990 |
| 2016 | $1.4M | $166K | $29.5M | $0 | — | View 990 |
| 2015 | $1.2M | $68K | $28.2M | $0 | — | View 990 |
| 2014 | $1.3M | $160K | $27.0M | $0 | — | View 990 |
| 2013 | $3.0M | $-29,310 | $25.9M | $0 | — | View 990 |
| 2012 | $2.1M | $801K | $22.9M | $0 | — | View 990 |
| 2011 | $3.8M | $18K | $8.4M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.4M, expenses of $4.1M, and assets of $25.6M (revenue -15.0% year-over-year).
- 2022: Revenue of $1.6M, expenses of $1.9M, and assets of $28.2M (revenue -26.5% year-over-year).
- 2021: Revenue of $2.2M, expenses of $3.1M, and assets of $28.5M (revenue +110.1% year-over-year).
- 2020: Revenue of $1.1M, expenses of $3.0M, and assets of $29.3M (revenue -35.4% year-over-year).
- 2019: Revenue of $1.6M, expenses of $2.3M, and assets of $31.3M (revenue -0.1% year-over-year).
- 2018: Revenue of $1.6M, expenses of $119K, and assets of $32.0M (revenue +45.8% year-over-year).
- 2017: Revenue of $1.1M, expenses of $184K, and assets of $30.4M (revenue -21.6% year-over-year).
- 2016: Revenue of $1.4M, expenses of $166K, and assets of $29.5M (revenue +16.6% year-over-year).
- 2015: Revenue of $1.2M, expenses of $68K, and assets of $28.2M (revenue -2.8% year-over-year).
- 2014: Revenue of $1.3M, expenses of $160K, and assets of $27.0M (revenue -57.4% year-over-year).
- 2013: Revenue of $3.0M, expenses of $-29,310, and assets of $25.9M (revenue +45.3% year-over-year).
- 2012: Revenue of $2.1M, expenses of $801K, and assets of $22.9M (revenue -45.6% year-over-year).
- 2011: Revenue of $3.8M, expenses of $18K, and assets of $8.4M.
Data Sources and Methodology
This transparency report for Ovec Ikec Retiree Medical Tr 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.