Consolidated Edison Master Veba Ret Health Tr For Weekly Employees
Consolidated Edison VEBA Trust consistently spends more than it earns, relying on substantial assets.
EIN: 134059113 · New York, NY · NTEE: Y43 · Updated: 2026-03-28
Is Consolidated Edison Master Veba Ret Health Tr For Weekly Employees Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Consolidated Edison Master Veba Ret Health Tr For Weekly Employees directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Consolidated Edison Master Veba Ret Health Tr For Weekly Employees
Consolidated Edison Master Veba Ret Health Tr For Weekly Employees (EIN: 134059113) is a nonprofit organization based in New York, NY, classified under NTEE code Y43. The organization reported total revenue of $71.8M and total assets of $494.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Consolidated Edison Master Veba Ret Health Tr For Weekly Employees's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Consolidated Edison Master Veba Ret Health Tr For Weekly Employees is a major nonprofit that has been operating for 27 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -7.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $31.8M |
| Total Expenses | $69.0M |
| Surplus / Deficit | $-37,208,451 |
| Total Assets | $492.3M |
| Total Liabilities | $366K |
| Net Assets | $491.9M |
| Operating Margin | -116.9% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 85.6 months |
Financial Health Grade: B
In 2023, Consolidated Edison Master Veba Ret Health Tr For Weekly Employees reported a deficit of $37.2M with expenses exceeding revenue, holds 85.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Consolidated Edison Master Veba Ret Health Tr For Weekly Employees's revenue has declined at a compound annual growth rate (CAGR) of -7.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +27.5% | +2.5% | +8.1% |
| 2022 | -63.8% | +8.6% | -25.2% |
| 2021 | -7.9% | -4.1% | +1.6% |
| 2020 | +1.9% | -6.5% | +9.3% |
| 2019 | +46.7% | -11.5% | +17.4% |
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 Consolidated Edison Master Veba Ret Health Tr For Weekly Employees 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, Consolidated Edison Master Veba Ret Health Tr For Weekly Employees 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 $37.2M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.1%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers receive direct compensation from the trust, which is a strong positive for financial transparency and efficiency.
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 Consolidated Edison Master Veba Ret Health Tr For Weekly Employees's IRS 990 filings:
- Consistent annual deficits where expenses exceed revenue (e.g., $69M expenses vs. $31M revenue in 2023).
- Significant and sudden increase in liabilities from $1.6M in 2022 to $366M in 2023, requiring further explanation.
Strengths
The following positive indicators were identified for Consolidated Edison Master Veba Ret Health Tr For Weekly Employees:
- Substantial asset base ($494,453,789 latest) provides financial stability despite operational deficits.
- Zero reported officer compensation indicates strong transparency and efficient use of funds at the executive level.
- Consistent filing history (13 filings) demonstrates commitment to regulatory compliance.
Frequently Asked Questions about Consolidated Edison Master Veba Ret Health Tr For Weekly Employees
Is Consolidated Edison Master Veba Ret Health Tr For Weekly Employees a legitimate charity?
Based on AI analysis of IRS 990 filings, Consolidated Edison Master Veba Ret Health Tr For Weekly Employees (EIN: 134059113) some concerns. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
How does Consolidated Edison Master Veba Ret Health Tr For Weekly Employees spend its money?
Consolidated Edison Master Veba Ret Health Tr For Weekly Employees directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Consolidated Edison Master Veba Ret Health Tr For Weekly Employees tax-deductible?
Consolidated Edison Master Veba Ret Health Tr For Weekly Employees is registered as a tax-exempt nonprofit (EIN: 134059113). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does the organization sustain operations with consistent deficits, such as the $37,208,451 deficit in 2023?
The organization likely draws from its substantial asset base, which was $492,300,877 in 2023, to cover the difference between expenses and revenue. This strategy is common for trusts designed to manage long-term benefits.
What caused the significant increase in liabilities from $1,623,637 in 2022 to $366,398,000 in 2023?
This dramatic increase in liabilities requires further investigation into the specific nature of these new obligations. It could be related to changes in actuarial assumptions for future benefit payments, new debt, or other financial commitments.
What is the detailed breakdown of expenses, particularly between program services and administrative costs, given the NTEE code Y43 (Voluntary Employees' Beneficiary Associations)?
As a VEBA trust, the vast majority of expenses are expected to be direct benefit payments to employees, which would fall under program services. Administrative costs would typically be for managing the trust itself. Without a detailed 990, specific percentages are not available, but the nature of the organization suggests a high program spending ratio.
Filing History
IRS 990 filing history for Consolidated Edison Master Veba Ret Health Tr For Weekly Employees showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Consolidated Edison Master Veba Ret Health Tr For Weekly Employees's revenue has declined by 62.8%, moving from $85.4M to $31.8M. Total assets increased by 5.6% over the same period, from $466.4M to $492.3M. Total functional expenses fell by 6.8%, from $74.1M to $69.0M. In its most recent filing year (2023), Consolidated Edison Master Veba Ret Health Tr For Weekly Employees reported a deficit of $37.2M, with expenses exceeding revenue. The organization holds $366K in liabilities against $492.3M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $491.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $31.8M | $69.0M | $492.3M | $366K | — | — |
| 2022 | $25.0M | $67.4M | $455.3M | $1.6M | — | View 990 |
| 2021 | $68.9M | $62.0M | $608.7M | $1.3M | — | View 990 |
| 2020 | $74.8M | $64.7M | $599.4M | $2.8M | — | View 990 |
| 2019 | $73.4M | $69.2M | $548.5M | $1.9M | — | — |
| 2018 | $50.0M | $78.2M | $467.4M | $2.0M | — | View 990 |
| 2017 | $71.4M | $76.7M | $531.5M | $520K | — | View 990 |
| 2016 | $62.6M | $77.4M | $490.7M | $311K | — | View 990 |
| 2015 | $55.4M | $74.9M | $494.4M | $346K | — | View 990 |
| 2014 | $46.3M | $72.0M | $534.9M | $535K | — | View 990 |
| 2013 | $149.7M | $74.5M | $547.1M | $387K | — | View 990 |
| 2012 | $83.3M | $74.9M | $521.4M | $10.3M | — | View 990 |
| 2011 | $85.4M | $74.1M | $466.4M | $12.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $31.8M, expenses of $69.0M, and assets of $492.3M (revenue +27.5% year-over-year).
- 2022: Revenue of $25.0M, expenses of $67.4M, and assets of $455.3M (revenue -63.8% year-over-year).
- 2021: Revenue of $68.9M, expenses of $62.0M, and assets of $608.7M (revenue -7.9% year-over-year).
- 2020: Revenue of $74.8M, expenses of $64.7M, and assets of $599.4M (revenue +1.9% year-over-year).
- 2019: Revenue of $73.4M, expenses of $69.2M, and assets of $548.5M (revenue +46.7% year-over-year).
- 2018: Revenue of $50.0M, expenses of $78.2M, and assets of $467.4M (revenue -30.0% year-over-year).
- 2017: Revenue of $71.4M, expenses of $76.7M, and assets of $531.5M (revenue +14.0% year-over-year).
- 2016: Revenue of $62.6M, expenses of $77.4M, and assets of $490.7M (revenue +13.1% year-over-year).
- 2015: Revenue of $55.4M, expenses of $74.9M, and assets of $494.4M (revenue +19.6% year-over-year).
- 2014: Revenue of $46.3M, expenses of $72.0M, and assets of $534.9M (revenue -69.0% year-over-year).
- 2013: Revenue of $149.7M, expenses of $74.5M, and assets of $547.1M (revenue +79.6% year-over-year).
- 2012: Revenue of $83.3M, expenses of $74.9M, and assets of $521.4M (revenue -2.5% year-over-year).
- 2011: Revenue of $85.4M, expenses of $74.1M, and assets of $466.4M.
Data Sources and Methodology
This transparency report for Consolidated Edison Master Veba Ret Health Tr For Weekly Employees 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.