2024-09-25T17:14:11-05:00 2023-12-31 222027092 WITHUMSMITHBROWN PC 1835 MARKET STREET PHILADELPHIA PA 19103 990 2023-01-01 203455598 BENEFITS DATA TRUST BENE 2152079100 1500 MARKET STREET 2800 PHILADELPHIA PA 19102 WENDY STARNER CEO 2152079100 2024-09-25 1 0 STEVEN M GLUECK P00856557 2155677770 2024-09-25 2023 2024-08-08 14:25:15Z WENDY STARNER 1500 MARKET STREET 2800 PHILADELPHIA PA 19102 28543974 0 X WWW.BDTRUST.ORG X 2005 PA COMMITTED TO TRANSFORMING HOW INDIVIDUALS IN NEED ACCESS ESSENTIAL BENEFITS. 10 10 374 10 0 0 32534625 15067912 12937546 12811239 491574 494812 15535 170011 45979280 28543974 0 0 0 0 26576547 28211898 0 0 2042156 8235414 8991852 34811961 37203750 11167319 -8659776 43423474 32856270 11722449 9390952 31701025 23465318 X BENEFITS DATA TRUST IS A NATIONAL NOT-FOR-PROFIT COMMITTED TO TRANSFORMING HOW INDIVIDUALS IN NEED ACCESS ESSENTIAL BENEFITS AND SERVICES. 0 0 18496467 9613167 DIRECT OUTREACH AND APPLICATION ASSISTANCE:BENEFITS DATA TRUST (BDT) ASSISTS CLIENTS WITH THE BENEFIT APPLICATION AND ENROLLMENT PROCESS THROUGH PHONE-BASED APPLICATION ASSISTANCE AND DATA-DRIVEN OUTREACH. BDT PARTNERS WITH GOVERNMENT AGENCIES AND CROSS-SECTOR STAKEHOLDERS AND USES DATA TO IDENTIFY INDIVIDUALS WHO ARE NOT CURRENTLY ACCESSING THE CRITICAL BENEFITS AND SERVICES FOR WHICH THEY QUALIFY. ONCE IDENTIFIED, INDIVIDUALS ARE CONNECTED WITH TRAINED STAFF AT BDT'S CONTACT CENTER, WHICH USES BDT'S PROPRIETARY SOFTWARE TO HELP CLIENTS COMPLETE APPLICATIONS FOR A FULL SUITE OF BENEFITS AND SERVICES AT ONCE, ELIMINATING THE BURDEN AND REDUNDANCY OF NAVIGATING EACH PROGRAM SEPARATELY. THIS IS A GRANT FUNDED PROGRAM THAT IS A FREE SERVICE TO OUR CLIENTS.BEGINNING IN 2020 AND CONTINUING THROUGH 2023, BDT HAS GROWN INTO A NATIONALLY RECOGNIZED ORGANIZATION IN THE BENEFITS ACCESS SECTOR. MANAGEMENT & GENERAL EXPENSES REQUIRED TO SUPPORT A MORE SOPHISTICATED STRUCTURE HAVE ALSO GROWN FROM $4.3MM TO $8.8M (DOUBLING IN SIZE) DURING THAT TIME PERIOD. RECOGNIZING THE NEED TO SUPPORT A GROWING ORGANIZATION, BDT INVESTED IN REVENUE GENERATING STAFF COMPENSATION. FUNDRAISING EXPENSES GREW FROM $700K IN 2020 TO $2M IN 2023, AND $800K INCREASE OVER 2022 EXPENSE. THE INVESTMENT IN SALES/PHILANTHROPY RESOURCES WAS DESIGNED TO INCREASE REVENUE TO SUPPORT THE GROWING EXPENSE STRUCTURE, TO ENSURE LONG-TERM SUSTAINABILITY FOR BDT PROGRAMS, AND TO ALSO DIVERSIFY THE REVENUE STREAMS INTO NEW SECTORS OF TECHNOLOGY AND TA/CONSULTING. IN 2023, THE INVESTMENT IN REVENUE GENERATING RESOURCES DID NOT MATERIALIZE AS PLANNED IN THE FINAL MONTHS OF 2023 WHICH WAS THE MAIN REASON THAT BDT POSTED THE $8.2M DEFICIT IN 2023. PROGRAMMATICALLY THE CONTRACT REVENUES FOR DIRECT SERVICE & OUTREACH HAVE REMAINED CONSISTENT THROUGHOUT THIS TIME PERIOD WITH MANY CONTRACT RENEWALS ONLY AFFORDING MINIMAL % REVENUE INCREASES THAT DID NOT COVER THE CORRESPONDING % INCREASES IN EXPENSES. FROM 2020 TO 2023 THIS DYNAMIC CREATED NEGATIVE MARGIN GAPS AND STEADILY INCREASED THROUGHOUT THE YEARS, MEANWHILE PHILANTHROPY WILLING TO FUND THE REVENUE GAP DECLINED. THIS FACTOR IS DEMONSTRATED IN THE DIRECT SERVICE & OUTREACH REVENUE VS. EXPENSES WHERE THE HISTORICAL 3-YEAR ROLLING AVERAGE % OF EXPENSES FUNDED FOR DIRECT SERVICE & OUTREACH WAS APPROXIMATELY 74% FROM 2018 THROUGH 2021. IN 2022 AND 2023, THE % OF EXPENSES FUNDED DROPPED TO 51% AND 52% RESPECTIVELY, WHILE GRANTS AND CONTRIBUTIONS RECEIVED FOR DIRECT SERVICE AND OUTREACH ALSO DECLINED. KNOWING THE DECLINING TREND IN REVENUES, MANAGEMENT ALSO REDUCED EXPENSES OF OVER $2M FROM 2022 TO 2023, BUT THE REDUCTION OF COSTS STILL LEFT A LARGE GAP. IN 2023 CASH RESERVES WERE USED TO SUSTAIN OPERATIONS OF THE DIRECT SERVICE & OUTREACH PROGRAM. 4710403 3113012 DATA AND TECHNOLOGY:BDT USES DATA AND TECHNOLOGY TO DESIGN SOLUTIONS THAT IMPROVE ACCESS TO ESSENTIAL BENEFITS AND SERVICES. BDT ANALYZES DATA TO BETTER CONNECT THOSE IN NEED TO PUBLIC BENEFITS THAT THEY ARE ELIGIBLE FOR AND BUILDS INTEGRATED TECHNOLOGY SOLUTIONS THAT CONNECT CLIENTS TO SERVICES FOR KEY PARTNERS AND/OR GEOGRAPHIES. BY BUILDING TECHNOLOGY SOLUTIONS THAT ENSURE A SMOOTH APPLICATION AND ENROLLMENT PROCESS, BDT IS REDUCING THE NUMBER OF BARRIERS FACED BY THOSE IN NEED WHEN APPLYING FOR ASSISTANCE.NOTING THE DECLINE IN THE % OF FUNDED DIRECT SERVICE & OUTREACH PROGRAM EXPENSES (SEE NOTE ABOVE), BDT MANAGEMENT RECOGNIZED THAT THE CORE DIRECT SERVICE & OUTREACH BUSINESS LINE NEEDED TO BE REINVENTED. A VISIONARY PLAN WAS IMPLEMENTED WITH THE GOALS TO ENHANCE DIRECT SERVICE OFFERINGS WITH TECHNOLOGY AND COMPLIMENT THE OFFERINGS WITH MEANINGFUL POLICY CHANGE. THIS IS DEMONSTRATED BY THE INCREASE IN EXPENSES OVER THE PAST 4 YEARS. LEVERAGING THE UNRESTRICTED MACKENZIE SCOTT GIFT FROM 2022, IN 2023 BDT CONTINUED TO INVEST CAPITAL IN BOTH TA/CONSULTING AND TECHNOLOGY FOCUSED STAFF AND RESOURCES. THE YEAR-OVER-YEAR INCREASES IN TA/CONSULTING AND DATA AND TECHNOLOGY WERE $1.4M AND $1.6M RESPECTIVELY. MORE SPECIFICALLY, DATA AND TECHNOLOGY INVESTMENTS FOCUS ON THE ABILITY TO SCALE OPERATIONS WITH THE GOAL TO BE MORE EFFICIENT AND EFFECTIVE, THEREBY REDUCING THE EXPENSES NECESSARY TO SUSTAIN, AND EVENTUALLY INCREASE, THE NUMBER OF BENEFIT ELIGIBLE PEOPLE BDT HELPS. THROUGHOUT 2023 BDT'S VISION TO PIVOT OPERATIONS AND DIVERSIFY ITS REVENUE STREAMS THROUGH TECHNOLOGY ENHANCEMENTS AND TA/CONSULTING SERVICES REQUIRED CONTINUED INVESTMENT IN THOSE STRATEGIES. TECHNOLOGY ENGINEERING AND DEVELOPMENT ARE EXPENSIVE AND WERE LARGELY UNDERFUNDED FROM 2020 THROUGH 2023 WITH CUMULATIVE DEFICITS TOTALING $9.8M. HOWEVER, IN 2023 PHILANTHROPIC INTEREST IN DATA AND TECHNOLOGY WORK PEAKED AND A SIGNIFICANT INCREASE IN PROGRAM SERVICE REVENUE FROM 2022-2023 WAS REALIZED. IN 2023 CASH RESERVES WERE USED TO SUPPLEMENT FUNDING GAP OF THE OPERATIONS RELATED TO THE DATA AND TECHNOLOGY PROGRAM. 3162622 85060 TECHNICAL ASSISTANCE:BDT PROVIDES POLICY AND PRACTICE ASSISTANCE TO STATES NATIONWIDE TO HELP THEM STREAMLINE BENEFITS ACCESS. THE ORGANIZATION HELPS STATE AGENCIES EXPLORE, APPLY FOR, AND OPERATIONALIZE THE COLLECTION OF WAIVERS, STATE OPTIONS, AND PROCESS IMPROVEMENTS AVAILABLE, INCLUDING DATA-MATCHING, CROSS-PROGRAM ENROLLMENT COORDINATION, DATA-DRIVEN OUTREACH, AND APPLICATION SIMPLIFICATION. BDT'S POLICY WORK ALSO INCLUDES DISSEMINATION OF EFFECTIVE POLICIES AND PRACTICES THROUGH REPORTS, ISSUE BRIEFS, PLAYBOOKS, AND WEBINARS.THOUGH CONSIDERED A KEY STRATEGIC DIRECTION AND FUTURE FOCUS FOR BDT AS WELL AS MUCH NEEDED IMPROVEMENTS IN POLICY RELATED TO THE BENEFITS SECTOR AS A WHOLE, THE INVESTMENTS MADE BY BDT IN TA/CONSULTING EXPENSES WERE NOT FULLY SUPPORTED BY YEAR OVER YEAR CONSISTENT REVENUE STREAMS, NOR PHILANTHROPY. FROM 2020 THROUGH 2023 BDT INVESTED $6.5M IN EXPENDITURES IN THE TA/CONSULTING BUSINESS LINE, WITH ONLY 42% FUNDED BY PROGRAM REVENUES. THE PROGRAMMATIC REVENUES COMBINED WITH THE GRANT/CONTRIBUTION INCOME DID NOT FULLY SUPPORT THE EXPENSE STRUCTURE NECESSARY TO PERFORM THIS IMPORTANT WORK IN THE BENEFITS ACCESS SECTOR. IN 2023 CASH RESERVES WERE USED TO SUSTAIN OPERATIONS OF THE TA/CONSULTING PROGRAM. 26369492 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 22 0 1 374 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA CO CT IN LA MD MI MN NH NJ NY NC ND OK PA RI SC TX VA WA X WENDY STARNER CHIEF FINANCIAL OFFICER 2152079100 CENTRE SQUARE 1500 MARKET ST 2800 PHILADELPHIA PA 19102 WARREN KANTOR CHAIRMAN 1.00 X X 0 0 0 THOMAS SHAFFERT TREASURER 1.00 X X 0 0 0 JEFFREY BAKER DIRECTOR 1.00 X 0 0 0 MARGARET BRADLEY SECRETARY 1.00 X X 0 0 0 VIKKI WACHINO DIRECTOR 1.00 X 0 0 0 ZIA KHAN DIRECTOR 1.00 X 0 0 0 JULIUS GREEN DIRECTOR 1.00 X 0 0 0 RICH GREENAWALT DIRECTOR 1.00 X 0 0 0 LISA MORRISON BUTLER DIRECTOR 1.00 X 0 0 0 GWEN MUSE-EVANS DIRECTOR 1.00 X 0 0 0 TROOPER SANDERS CHIEF EXECUTIVE OFFICER 45.00 X 325115 0 19754 PAULINE ABERNATHY CHIEF STRATEGY OFFICER 45.00 X 278688 0 18662 ERIKA BLUMENTHAL CHIEF OPERATING OFFICER 45.00 X 252476 0 18547 WENDY STARNER CHIEF FINANCIAL OFFICER 45.00 X 233720 0 15043 STEPHEN ROCKWELL CHIEF DIGITAL OFFICER 45.00 X 233086 0 9323 SANG LEE CHIEF OF STAFF 45.00 X 222759 0 16625 ALYSSA WAGNER CHIEF PEOPLE OFFICER 45.00 X 220352 0 15563 SANDRA ELISA ZYGMUNT DEPUTY CHIEF FOR INNOVATION & PRODUCT 45.00 X 235804 0 26550 MARTA MIGUEL DIRECTOR OF DATA ANALYTICS 37.50 X 190665 0 7857 SEAN DONOVAN SENIOR DIRECTOR OF INFORMATION SYSTEMS 37.50 X 183338 0 14083 JULIETTE HYE-YOUNG CHO SENIOR DIRECTOR OF PHILANTHROPY 37.50 X 213950 0 15307 LAURA MARAKOWSKI SENIOR DIRECTOR OF CLIENT SERVICE & SUPPORT 37.50 X 170354 0 6814 PAUL TRENT HUNTSBERGER ENTERPRISE ARCHITECT 37.50 X 167952 0 6718 2928259 0 190846 13 0 1 0 ADP INC 1 ADP BOULEVARD ROSELAND NJ 07068 PAYROLL SERVICES 2949429 UNITED MAIL 4410 BISHOP LANE WATTERSON PARK KY 40218 DIRECT MARKETING 897380 FIVE9 INC 3001 BISHOP DRIVE SAN RAMON CA 94583 TELEPHONE SERVICES 523376 SADA SYSTEMS INC 5250 LANKERSHIM BOULEVARD 620 NORTH HOLLYWOOD CA 91601 IT SERVICES 420720 ONSHORE MOMENTUM PO BOX 74113 CLEVELAND OH 44194 IT SERVICES 409235 5 15067912 15067912 PROGRAM SERVICES 518210 12811239 12811239 12811239 494812 494812 OTHER INCOME 518210 170011 170011 170011 28543974 12981250 0 494812 2142067 382329 1221132 538606 20245830 15739080 3477455 1029295 674668 531759 111052 31857 3192380 2297733 687987 206660 1956953 1416032 406064 134857 38293 38293 32000 18052 13948 1911228 1099775 811453 80074 24859 53320 1895 1865829 862093 999186 4550 859554 601688 232080 25786 210659 154073 44827 11759 64327 35256 24133 4938 49621 49621 1698131 1205673 441514 50944 153133 153133 MAIL PRODUCTION-OUTREAC 1201577 1200568 1009 SUBCONTRACTORS 800414 800414 FILING FEES 15182 15182 BANK CHARGES 10650 65 10585 1180 43 1137 37203750 26369492 8792102 2042156 347123 246321 3555351 1443144 6958988 8286406 179150 170893 14347757 8510044 5593427 5837713 23324274 13879062 3465161 2992731 43423474 32856270 1852301 2159078 4300709 2402142 5569439 4829732 11722449 9390952 X 29029219 18581293 2671806 4884025 31701025 23465318 43423474 32856270 -8659776 424069 0 X 0 1 X 1 1 1 X 16539633 16550735 13894661 32534625 15067912 94587566 8639453 9754528 14286156 12937546 12811239 58428922 136215 146900 283115 25315301 26452163 28180817 45472171 27879151 153299603 12456493 12834055 9765964 29822471 9865851 74744834 0 12456493 12834055 9765964 29822471 9865851 74744834 78554769 10304 70834 103509 491574 494812 1171033 10304 70834 103509 491574 494812 1171033 5453 4454 58 15535 170011 195511 25331058 26527451 28284384 45979280 28543974 154666147 0.50790 0.48980 0.00760 0.00470 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 32000 32000 35129594 35161594 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 32352 93 2425 32000 66870 250000 250000 250000 250000 1000000 1500000 17 30 245 292 3913732 2610771 1302961 450378 415190 35188 9983647 5484083 4499564 5837713 RIGHT TO USE ASSET 2992731 2992731 OPERATING LEASE LIABILITY 4779732 SECURITY DEPOSIT 50000 4829732 X 28968043 424069 424069 28543974 0 28543974 37203750 0 37203750 0 37203750 PART X, LINE 2: U.S. GAAP REQUIRES ENTITIES TO EVALUATE, MEASURE AND RECOGNIZE ANY UNCERTAIN TAX POSITIONS. U.S. GAAP PRESCRIBES A MINIMUM THRESHOLD THAT A TAX POSITION IS REQUIRED TO MEET IN ORDER TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS. BDT BELIEVES THAT IT HAD NO UNCERTAIN TAX POSITIONS AS DEFINED BY U.S. GAAP. X X X 0 0 0 0 0 0 0 0 0 TROOPER SANDERS CHIEF EXECUTIVE OFFICER 325115 0 0 0 0 0 13005 0 6749 0 344869 0 0 0 PAULINE ABERNATHY CHIEF STRATEGY OFFICER 278688 0 0 0 0 0 11148 0 7514 0 297350 0 0 0 ERIKA BLUMENTHAL CHIEF OPERATING OFFICER 252476 0 0 0 0 0 10099 0 8448 0 271023 0 0 0 SANDRA ELISA ZYGMUNT DEPUTY CHIEF FOR INNOVATION & PRODUC 235804 0 0 0 0 0 9432 0 17118 0 262354 0 0 0 WENDY STARNER CHIEF FINANCIAL OFFICER 233720 0 0 0 0 0 9349 0 5694 0 248763 0 0 0 STEPHEN ROCKWELL CHIEF DIGITAL OFFICER 233086 0 0 0 0 0 9323 0 0 0 242409 0 0 0 SANG LEE CHIEF OF STAFF 222759 0 0 0 0 0 8910 0 7715 0 239384 0 0 0 ALYSSA WAGNER CHIEF PEOPLE OFFICER 220352 0 0 0 0 0 8814 0 6749 0 235915 0 0 0 JULIETTE HYE-YOUNG CHO SENIOR DIRECTOR OF PHILANTHROPY 213950 0 0 0 0 0 8558 0 6749 0 229257 0 0 0 MARTA MIGUEL DIRECTOR OF DATA ANALYTICS 190665 0 0 0 0 0 7627 0 230 0 198522 0 0 0 SEAN DONOVAN SENIOR DIRECTOR OF INFORMATION SYSTE 183338 0 0 0 0 0 7334 0 6749 0 197421 0 0 0 LAURA MARAKOWSKI SENIOR DIRECTOR OF CLIENT SERVICE & 170354 0 0 0 0 0 6814 0 0 0 177168 0 0 0 PAUL TRENT HUNTSBERGER ENTERPRISE ARCHITECT 167952 0 0 0 0 0 6718 0 0 0 174670 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B 990 REVIEW THE FORM 990 IS PREPARED BY THE INDEPENDENT ACCOUNTANT AND REVIEWED BY MANAGEMENT AND THE AUDIT AND FINANCE COMMITTEE. AFTER MANAGEMENT AND THE AUDIT AND FINANCE COMMITTEE HAVE REVIEWED THE FORM 990, IT IS PROVIDED TO THE BOARD FOR REVIEW AND APPROVAL BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C AFTER IT IS DISCUSSED WITH THEM DURING THE ORIENTATION PROCESS, NEW EMPLOYEES ARE REQUIRED TO REVIEW BDT'S CONFLICT OF INTEREST POLICY AND EXECUTE A CONFLICT OF INTEREST FORM DISCLOSING ANY POTENTIAL CONFLICTS OF INTEREST. ANY FUTURE CONFLICTS OF INTEREST ARE TO BE DISCLOSED, AND DISCUSSED WITH THEIR SUPERVISOR. IF A CONFLICT OF INTEREST IS IDENTIFIED, IT WOULD BE ASSESSED INITALLY BY BDT'S ASSOCIATE DIRECTOR OF QUALITY COMPLIANCE, AND ALSO BY BDT'S DIRECTOR OF HUMAN RESOURCES, CFO, AND CEO AS NEEDED AND APPROPRIATE ACTIONS WOULD BE TAKEN TO ENSURE THAT THE CONFLICTS WERE RESOLVED. AS OF JULY 1, 2018, EMPLOYEES SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY. BDT BOARD MEMBERS ALSO SIGN A CONFLICT OF INTEREST FORM UPON APPOINTMENT TO THE BOARD AND ANNUALLY. IF ANY CONFLICTS OF INTEREST ARE IDENTIFIED, THAT BOARD MEMBER REFRAINS FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISIONS AS IT PERTAINS TO ANY AFFECTED TRANSACTIONS. FORM 990, PART VI, SECTION B, LINE 15 WHEN SETTING THE COMPENSATION FOR THE CEO, THE BOARD USED THE 990S OF OTHER ORGANIZATIONS ALONG WITH AVAILABLE MARKET DATA (E.G. PAYSCALE), AND THE FULL BOARD VOTED ON THE WRITTEN CONTRACT. THE OUTSIDE FIRM THAT RAN THE SEARCH ALSO PROVIDED VALUABLE COMPETITIVE INPUT. FORM 990, PART VI, SECTION B, LINE 15B: FOR TOP MANAGEMENT, THE 990S OF OTHER ORGANIZATIONS AND AVAILABLE MARKET DATA ARE ALSO DISCUSSED AND THE DECISIONS ARE MADE BY THE CEO WITH FULL CONSULTATION FROM THE CFO AND DIRECTOR OF HUMAN RESOURCES. THE OUTSIDE FIRMS THAT HAVE CONDUCTED THE SEARCHES ALSO PROVIDE VALUABLE COMPETITIVE INPUT. THE PROCESS FOR DETERMINING COMPENSATION FOR OFFICERS OR KEY EMPLOYEES DID NOT CHANGE IN 2023. BDT USED THE PROCESS OUTLINED ABOVE TO SET EMPLOYEE COMPENSATION AND ALSO INSTITUTED AN FLAT 2% SALARY INCREASE AT THE END OF THE YEAR. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS THE ORGANIZATION PROVIDES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS UPON REQUEST.