Elevance Health Retiree Veba Tr
Elevance Health Retiree Veba Tr consistently expends more than its annual revenue, drawing from substantial assets to fund retiree benefits.
EIN: 10477639 · Indianapolis, IN · Updated: 2026-03-28
Is Elevance Health Retiree Veba Tr Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Elevance Health Retiree Veba Tr directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Elevance Health Retiree Veba Tr
Elevance Health Retiree Veba Tr (EIN: 10477639) is a nonprofit organization based in Indianapolis, IN. The organization reported total revenue of $20.2M and total assets of $316.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Elevance Health Retiree Veba Tr's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Elevance Health Retiree Veba 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, Elevance Health Retiree Veba 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.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers receive compensation directly from this trust, which is a positive for financial efficiency and transparency.
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 Elevance Health Retiree Veba Tr's IRS 990 filings:
- Consistent annual expenses significantly exceeding annual revenue, indicating reliance on asset drawdowns.
Strengths
The following positive indicators were identified for Elevance Health Retiree Veba Tr:
- Zero reported officer compensation across all filings, indicating efficient use of funds for its primary purpose.
- Substantial asset base, consistently over $280 million, providing long-term stability for retiree benefits.
- Consistently reports $0 in liabilities, suggesting strong financial management and solvency.
Frequently Asked Questions about Elevance Health Retiree Veba Tr
Is Elevance Health Retiree Veba Tr a legitimate charity?
Based on AI analysis of IRS 990 filings, Elevance Health Retiree Veba Tr (EIN: 10477639) some concerns. Mission Score: 85/100. 1 red flag identified, 3 strengths noted.
How does Elevance Health Retiree Veba Tr spend its money?
Elevance Health Retiree Veba Tr directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Elevance Health Retiree Veba Tr tax-deductible?
Elevance Health Retiree Veba Tr is registered as a tax-exempt nonprofit (EIN: 10477639). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Elevance Health Retiree Veba Tr a good charity?
As a VEBA trust, it's not a traditional charity but rather a mechanism for providing retiree benefits. Its financial health appears stable given its substantial assets ($306,179,410 in 2023) despite annual expenses often exceeding revenue, which is expected for its purpose.
How does the organization manage its assets?
The trust maintains a significant asset base, consistently over $280 million in recent years, reaching $316,837,689 in its latest reported period. These assets are used to cover the annual expenses, which frequently surpass annual revenue, such as in 2023 where expenses were $22,834,116 against $2,429,512 in revenue.
What is the trend in its financial performance?
The organization shows highly variable revenue and expenses year-to-year. For instance, revenue was $35,179,476 in 2017 but only $500,721 in 2022. Expenses also fluctuate significantly, from $4,972,109 in 2017 to $26,383,167 in 2021. This variability is typical for trusts that receive contributions and disburse benefits based on actuarial needs.
Filing History
IRS 990 filing history for Elevance Health Retiree Veba Tr showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Elevance Health Retiree Veba Tr's revenue has declined by 92.1%, moving from $30.7M to $2.4M. Total assets increased by 35.1% over the same period, from $226.7M to $306.2M. Total functional expenses rose by 7928.7%, from $284K to $22.8M. In its most recent filing year (2023), Elevance Health Retiree Veba Tr reported a deficit of $20.4M, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $2.4M | $22.8M | $306.2M | $0 | — | — |
| 2022 | $501K | $21.9M | $287.7M | $0 | — | View 990 |
| 2021 | $6.3M | $26.4M | $364.2M | $0 | — | View 990 |
| 2020 | $1.1M | $8.6M | $357.8M | $0 | — | View 990 |
| 2019 | $1.7M | $16.6M | $333.0M | $0 | — | View 990 |
| 2018 | $5.8M | $7.8M | $297.9M | $0 | — | View 990 |
| 2017 | $35.2M | $5.0M | $316.3M | $0 | — | — |
| 2016 | $32.9M | $16.2M | $284.8M | $0 | — | View 990 |
| 2015 | $3.6M | $7.7M | $266.5M | $0 | — | View 990 |
| 2014 | $13.6M | $6.2M | $272.0M | $0 | — | View 990 |
| 2013 | $29.7M | $5.2M | $264.1M | $0 | — | View 990 |
| 2012 | $17.4M | $4.3M | $239.8M | $0 | — | View 990 |
| 2011 | $30.7M | $284K | $226.7M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.4M, expenses of $22.8M, and assets of $306.2M (revenue +385.2% year-over-year).
- 2022: Revenue of $501K, expenses of $21.9M, and assets of $287.7M (revenue -92.1% year-over-year).
- 2021: Revenue of $6.3M, expenses of $26.4M, and assets of $364.2M (revenue +471.7% year-over-year).
- 2020: Revenue of $1.1M, expenses of $8.6M, and assets of $357.8M (revenue -33.5% year-over-year).
- 2019: Revenue of $1.7M, expenses of $16.6M, and assets of $333.0M (revenue -71.6% year-over-year).
- 2018: Revenue of $5.8M, expenses of $7.8M, and assets of $297.9M (revenue -83.4% year-over-year).
- 2017: Revenue of $35.2M, expenses of $5.0M, and assets of $316.3M (revenue +6.8% year-over-year).
- 2016: Revenue of $32.9M, expenses of $16.2M, and assets of $284.8M (revenue +809.5% year-over-year).
- 2015: Revenue of $3.6M, expenses of $7.7M, and assets of $266.5M (revenue -73.4% year-over-year).
- 2014: Revenue of $13.6M, expenses of $6.2M, and assets of $272.0M (revenue -54.1% year-over-year).
- 2013: Revenue of $29.7M, expenses of $5.2M, and assets of $264.1M (revenue +71.0% year-over-year).
- 2012: Revenue of $17.4M, expenses of $4.3M, and assets of $239.8M (revenue -43.4% year-over-year).
- 2011: Revenue of $30.7M, expenses of $284K, and assets of $226.7M.
Data Sources and Methodology
This transparency report for Elevance Health Retiree Veba 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.