Civic Intelligence

Hoffer Plastics Corporation Health Benefit Plan Trust

EIN 36-3042313 • 501(c)9 • South Elgin, IL

Profile

Provide health, life insurance and short-term disability to eligible employees of Hoffer Plastics Corporation.

500 N Collins StSouth Elgin, IL 60177
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

99th percentile

4.13x

Higher debt load relative to assets than 99% of similar nonprofits.

501(c)9 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

70th percentile

0.04x

Higher debt load relative to revenue than 70% of similar nonprofits.

501(c)9 • $1M-$5M nonprofits • Source year 2025

Net Margin

44th percentile

0.6%

Higher net margin than 44% of similar nonprofits.

501(c)9 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

99th percentile

$875,677

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 17.5% of source-year revenue.

501(c)9 • $1M-$5M nonprofits • Source year 2025

Asset Growth

97th percentile

129%

Faster asset growth than 97% of similar nonprofits.

501(c)9 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

52nd percentile

5.7%

Faster revenue growth than 52% of similar nonprofits.

501(c)9 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets99th percentile

Assets

Up

$21,050

Up $27,129 (+446%) from 2023

Liabilities

Down

$254,000

Down $49,000 (-16%) from 2023

Net Assets

Up

-$232,950

Up $76,129 (+25%) from 2023

Operations
Liabilities / Revenue70th percentileNet Margin44th percentile

Revenue

Up

$4,729,734

Up $500,842 (+12%) from 2023

Expenses

Up

$4,702,606

Up $496,830 (+12%) from 2023

Net Income

Up

$27,128

Up $4,012 (+17%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth97th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.0M$500K$0-$500K-$1.0MAssets 2020: -$34,063Liabilities 2020: $401,000Net Assets 2020: -$435,0632020Assets 2021: -$72,770Liabilities 2021: $515,000Net Assets 2021: -$587,7702021Assets 2022: -$29,195Liabilities 2022: $362,000Net Assets 2022: -$391,1952022Assets 2023: -$6,079Liabilities 2023: $303,000Net Assets 2023: -$309,0792023Assets 2024: $21,050Liabilities 2024: $254,000Net Assets 2024: -$232,9502024

Highlighted filing

2024

Assets$21,050
Liabilities$254,000
Net Assets-$232,950
Open 2024 Filing

Operations Trend

Revenue Growth52nd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2020: $4,932,661Expenses 2020: $5,044,201Net Income 2020: -$111,5402020Revenue 2021: $4,993,817Expenses 2021: $5,146,525Net Income 2021: -$152,7082021Revenue 2022: $3,942,624Expenses 2022: $3,840,524Net Income 2022: $102,1002022Revenue 2023: $4,228,892Expenses 2023: $4,205,776Net Income 2023: $23,1162023Revenue 2024: $4,729,734Expenses 2024: $4,702,606Net Income 2024: $27,1282024

Highlighted filing

2024

Revenue$4,729,734
Expenses$4,702,606
Net Income$27,128
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$21,050
Liabilities
$254,000
Net assets
-$232,950
Revenue
$4,729,734
Expenses
$4,702,606
Net income
$27,128
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.02$0.25$0.23$4.73$4.70$0.03
2023Detailed filing. Detailed filing data is available for this year.$0.01$0.30$0.31$4.23$4.21$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.03$0.36$0.39$3.94$3.84$0.10
2021Detailed filing. Detailed filing data is available for this year.$0.07$0.52$0.59$4.99$5.15$0.15
2020Detailed filing. Detailed filing data is available for this year.$0.03$0.40$0.44$4.93$5.04$0.11
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Dec 1, 2023 to Nov 30, 2024
Signed
Apr 8, 2025
Return Version
2023v6.0
Gross Receipts
$4,729,734
Mission and Program Overview

Mission

Provide health, life insurance and short-term disability to eligible employees of Hoffer Plastics Corporation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$-6,079$21,050▲ $27,129
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-309,079$-232,950▲ $76,129
Total Assets$-6,079$21,050▲ $27,129
Liabilities
Accounts Payable and Accrued Expenses$303,000$254,000▼ $49,000
Total Liabilities$303,000$254,000▼ $49,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$-309,079$-232,950▲ $76,129
Total Liabilities and Net Assets / Fund Balance$-6,079$21,050▲ $27,129
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleBaseOtherTotal
Gretchen Hoffer FarbTrustee$22,290$807,118$22,290
Charlotte H CanningTrustee$17,816$836,984$17,816

Board Members and Trustees

NameTitle
Earl W Dorsey IITrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,729,734
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$27,128
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$777,170
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members$3,925,436--$3,925,436
Fees for Services Management-$777,170-$777,170
Total Functional Expenses$3,925,436$777,170$0$4,702,606
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Charlotte Hoffer CanningOwns 16.1% of Hoffer PlasticsOwnerNo$0
Earl W Dorsey IIEmployee of Hoffer PlasticsEmployeeNo$0
Gretchen Hoffer FarbOwns 16.1% of Hoffer PlasticsOwnerNo$0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
Yes
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Gretchen Hoffer Farb and Charlotte Canning are siblings. Gretchen Hoffer Farb, Trustee, is Co-Chief Executive Officer and Corporate Secretary of Hoffer Plastics Corporation. Charlotte Hoffer Canning, Trustee, is Co-Chief Executive Office and a Director of Hoffer Plastics Corporation. Earl W Dorsey II, Trustee, is Corporate Controller of Hoffer Plastics Corporation.”

Form 990, Part VI, Section B, Line 11B

“Documents are not available to the public.”

Form 990, Part VI, Section C, Line 18

“Documents are not available to the public.”

Form 990, Part VI, Section C, Line 19

“Documents are not available to the public.”

Form 990, Part VI, Section C, Line 20

“Earl W Dorsey II, Trustee, prepares and reviews Form 990 and its related schedules. The documents are printed for Gretchen Hoffer Farb's review and approval.”

Filing and Contact Details

Filer

Filer Name
Hoffer Plastics Corporation Health Benefit Plan Trust
EIN
36-3042313
Phone
8477175636
Address
500 N COLLINS ST, SOUTH ELGIN, IL 60177

Signing Officer

Name
Earl Dorsey II
Title
Corporate Controller
Phone
8477175636
Signed
2025-04-08

Organization Details

Formed
1978
Legal Domicile
Il
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
3
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“This change is driven by the yearly recalculation of the "Incurred But Not Reported (IBNR) accrual.”

Raw XML Appendix382 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleJ/SeverancePaymentInd00
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt20
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Owner
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1Owner
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2Employee
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Gretchen Hoffer Farb and Charlotte Canning are siblings. Gretchen Hoffer Farb, Trustee, is Co-Chief Executive Officer and Corporate Secretary of Hoffer Plastics Corporation. Charlotte Hoffer Canning, Trustee, is Co-Chief Executive Office and a Director of Hoffer Plastics Corporation. Earl W Dorsey II, Trustee, is Corporate Controller of Hoffer Plastics Corporation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Documents are not available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Documents are not available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Documents are not available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Earl W Dorsey II, Trustee, prepares and reviews Form 990 and its related schedules. The documents are printed for Gretchen Hoffer Farb's review and approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5This change is driven by the yearly recalculation of the "Incurred But Not Reported (IBNR) accrual.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 20
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XI, Line 9
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0362347537
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0S
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0DE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0Manufacturer
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0Hoffer Plastics Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0500 N COLLINS ST
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0SOUTH ELGIN
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0IL
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd060177
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/SupplementalInformationDetail/ExplanationTxt0Hoffer Plastics Corporation - three employees of Hoffer Plastics Corporation are trustees of this trust. The trustees do not receive any compensation from this trust.
IRS990ScheduleR/SupplementalInformationDetail/ExplanationTxt1Hoffer Plastics Corporation, as employer, funds the trust to cover health benefits for its employees. The trust does not have employees.
IRS990ScheduleR/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule R, Part V, Line 1o
IRS990ScheduleR/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule R, Part V, Line 1s
IRS990ScheduleR/TransferFromOtherOrgInd01
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0-6079
IRS990/TotalAssetsEOYAmt021050
IRS990/TotalAssetsGrp/BOYAmt0-6079
IRS990/TotalAssetsGrp/EOYAmt021050
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0777170
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03925436
IRS990/TotalFunctionalExpensesGrp/TotalAmt04702606
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0303000
IRS990/TotalLiabilitiesEOYAmt0254000
IRS990/TotalLiabilitiesGrp/BOYAmt0303000
IRS990/TotalLiabilitiesGrp/EOYAmt0254000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-309079
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-232950
IRS990/TotalOtherCompensationAmt052438
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt03925436
IRS990/TotalProgramServiceRevenueAmt04729734
IRS990/TotalReportableCompFromOrgAmt040106
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04729734
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04729734
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0-6079
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt021050
IRS990/TotReportableCompRltdOrgAmt01787657
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/USAddress/AddressLine1Txt0500 N COLLINS ST
IRS990/USAddress/CityNm0SOUTH ELGIN
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060177
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Earl Dorsey II
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Corporate Controller
ReturnHeader/BusinessOfficerGrp/PhoneNum08477175636
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HOFFER PLASTICS CORPORATION HEALTH BENEFIT PLAN TRUST
ReturnHeader/Filer/BusinessNameControlTxt0HOFF
ReturnHeader/Filer/EIN0363042313
ReturnHeader/Filer/PhoneNum08477175636
ReturnHeader/Filer/USAddress/AddressLine1Txt0500 N COLLINS ST
ReturnHeader/Filer/USAddress/CityNm0SOUTH ELGIN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060177
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/ReturnTs02025-04-08T13:56:19-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-12-01
ReturnHeader/TaxPeriodEndDt02024-11-30
ReturnHeader/TaxYr02023

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