Cleveland Cliffs Steel Llc Veba Trust
Cleveland Cliffs Steel Llc Veba Trust consistently manages employee benefits with no reported officer compensation.
EIN: 200689362 · Cleveland, OH · NTEE: Y43 · Updated: 2026-03-28
Is Cleveland Cliffs Steel Llc Veba Trust Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Cleveland Cliffs Steel Llc Veba Trust directs 100% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Cleveland Cliffs Steel Llc Veba Trust
Cleveland Cliffs Steel Llc Veba Trust (EIN: 200689362) is a nonprofit organization based in Cleveland, OH, classified under NTEE code Y43. The organization reported total revenue of $280.7M and total assets of $456.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cleveland Cliffs Steel Llc Veba Trust's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cleveland Cliffs Steel Llc Veba Trust is a major 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 -5.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $76.5M |
| Total Expenses | $55.7M |
| Surplus / Deficit | +$20.7M |
| Total Assets | $458.2M |
| Total Liabilities | $2.4M |
| Net Assets | $455.8M |
| Operating Margin | 27.1% |
| Debt-to-Asset Ratio | 0.5% |
| Months of Reserves | 98.7 months |
Financial Health Grade: A
In 2023, Cleveland Cliffs Steel Llc Veba Trust reported a surplus of $20.7M with revenue exceeding expenses, holds 98.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.5% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Cleveland Cliffs Steel Llc Veba Trust's revenue has declined at a compound annual growth rate (CAGR) of -5.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -21.1% | -17.5% | +0.5% |
| 2022 | +6.0% | +7.9% | -2.9% |
| 2021 | +169.7% | -6.8% | +9.3% |
| 2020 | -11.3% | -6.8% | -5.3% |
| 2019 | -30.5% | -7.6% | +0.4% |
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 Cleveland Cliffs Steel Llc Veba Trust with a Mission Score of 95 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: 0%
- programs: 100%
- fundraising: 0%
According to IRS 990 filings, Cleveland Cliffs Steel Llc Veba Trust allocates its expenses as follows: admin: 0%, programs: 100%, fundraising: 0%. With 100% 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 surplus of $20.7M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.5%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the trust does not pay its officers, which is highly efficient and transparent for an organization of its size and purpose.
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.
Strengths
The following positive indicators were identified for Cleveland Cliffs Steel Llc Veba Trust:
- Consistent 0% officer compensation across all filings, indicating high efficiency in executive pay.
- Healthy asset base, with assets of $458,241,569 in 2023, suggesting financial stability.
- Recent years show revenues exceeding expenses, contributing to asset growth and sustainable operations.
- Clear focus on its stated purpose as an employee benefit organization (VEBA Trust).
Frequently Asked Questions about Cleveland Cliffs Steel Llc Veba Trust
Is Cleveland Cliffs Steel Llc Veba Trust a legitimate charity?
Based on AI analysis of IRS 990 filings, Cleveland Cliffs Steel Llc Veba Trust (EIN: 200689362) appears legitimate. Mission Score: 95/100. 0 red flags identified, 4 strengths noted.
How does Cleveland Cliffs Steel Llc Veba Trust spend its money?
Cleveland Cliffs Steel Llc Veba Trust directs 100% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Cleveland Cliffs Steel Llc Veba Trust tax-deductible?
Cleveland Cliffs Steel Llc Veba Trust is registered as a tax-exempt nonprofit (EIN: 200689362). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Cleveland Cliffs Steel Llc Veba Trust a good charity?
Given its structure as a VEBA trust and consistent reporting of 0% officer compensation, it appears to be efficiently managed for its intended purpose of providing employee benefits. It is not a traditional public charity but rather a benefit organization.
How does the trust manage its expenses relative to its revenue?
In recent years (2021-2023), the trust has generally managed to keep expenses below revenue, for example, in 2023, expenses were $55,735,656 against revenues of $76,472,908, indicating sound financial management for its operational needs.
What is the primary purpose of this organization?
Based on its name and NTEE code Y43, its primary purpose is to manage and provide employee or membership benefits, consistent with a VEBA trust.
Filing History
IRS 990 filing history for Cleveland Cliffs Steel Llc Veba Trust showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Cleveland Cliffs Steel Llc Veba Trust's revenue has declined by 47.4%, moving from $145.3M to $76.5M. Total assets decreased by 3.2% over the same period, from $473.5M to $458.2M. Total functional expenses fell by 55.9%, from $126.4M to $55.7M. In its most recent filing year (2023), Cleveland Cliffs Steel Llc Veba Trust reported a surplus of $20.7M, with revenue exceeding expenses. The organization holds $2.4M in liabilities against $458.2M in assets (debt-to-asset ratio: 0.5%), resulting in net assets of $455.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $76.5M | $55.7M | $458.2M | $2.4M | — | View 990 |
| 2022 | $96.9M | $67.6M | $456.1M | $2.9M | — | View 990 |
| 2021 | $91.5M | $62.6M | $469.5M | $3.9M | — | View 990 |
| 2020 | $33.9M | $67.2M | $429.5M | $2.6M | — | View 990 |
| 2019 | $38.2M | $72.1M | $453.4M | $2.6M | — | View 990 |
| 2018 | $55.0M | $78.0M | $451.8M | $468K | — | View 990 |
| 2017 | $57.5M | $102.3M | $493.4M | $3.7M | — | View 990 |
| 2016 | $25.7M | $139.0M | $546.3M | $1.0M | — | View 990 |
| 2015 | $136.3M | $145.1M | $647.8M | $79K | — | View 990 |
| 2014 | $108.8M | $135.3M | $674.8M | $0 | — | View 990 |
| 2013 | $126.9M | $126.2M | $679.2M | $0 | — | View 990 |
| 2012 | $284.3M | $124.4M | $644.0M | $350K | — | View 990 |
| 2011 | $145.3M | $126.4M | $473.5M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $76.5M, expenses of $55.7M, and assets of $458.2M (revenue -21.1% year-over-year).
- 2022: Revenue of $96.9M, expenses of $67.6M, and assets of $456.1M (revenue +6.0% year-over-year).
- 2021: Revenue of $91.5M, expenses of $62.6M, and assets of $469.5M (revenue +169.7% year-over-year).
- 2020: Revenue of $33.9M, expenses of $67.2M, and assets of $429.5M (revenue -11.3% year-over-year).
- 2019: Revenue of $38.2M, expenses of $72.1M, and assets of $453.4M (revenue -30.5% year-over-year).
- 2018: Revenue of $55.0M, expenses of $78.0M, and assets of $451.8M (revenue -4.3% year-over-year).
- 2017: Revenue of $57.5M, expenses of $102.3M, and assets of $493.4M (revenue +123.3% year-over-year).
- 2016: Revenue of $25.7M, expenses of $139.0M, and assets of $546.3M (revenue -81.1% year-over-year).
- 2015: Revenue of $136.3M, expenses of $145.1M, and assets of $647.8M (revenue +25.3% year-over-year).
- 2014: Revenue of $108.8M, expenses of $135.3M, and assets of $674.8M (revenue -14.2% year-over-year).
- 2013: Revenue of $126.9M, expenses of $126.2M, and assets of $679.2M (revenue -55.4% year-over-year).
- 2012: Revenue of $284.3M, expenses of $124.4M, and assets of $644.0M (revenue +95.6% year-over-year).
- 2011: Revenue of $145.3M, expenses of $126.4M, and assets of $473.5M.
Data Sources and Methodology
This transparency report for Cleveland Cliffs Steel Llc Veba 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.