Florida Gas Transmission Company Veba
Florida Gas Transmission Company Veba maintains substantial assets with no liabilities and no reported officer compensation.
EIN: 206819759 · Des Moines, IA · NTEE: Y43 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.3M |
| Total Expenses | $401K |
| Program Spending | 90% |
| Net Assets | $28.7M |
| Transparency Score | 85/100 |
Is Florida Gas Transmission Company Veba Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Florida Gas Transmission Company Veba directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Florida Gas Transmission Company Veba
Florida Gas Transmission Company Veba (EIN: 206819759) is a nonprofit organization based in Des Moines, IA, classified under NTEE code Y43. The organization reported total revenue of $1.3M and total assets of $29.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Florida Gas Transmission Company Veba's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Florida Gas Transmission Company Veba is a mid-size nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -9.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $897K |
| Total Expenses | $401K |
| Surplus / Deficit | +$496K |
| Total Assets | $28.7M |
| Net Assets | $28.7M |
| Operating Margin | 55.3% |
| Months of Reserves | 857.1 months |
Financial Health Grade: A
In 2023, Florida Gas Transmission Company Veba reported a surplus of $496K with revenue exceeding expenses, holds 857.1 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Florida Gas Transmission Company Veba's revenue has declined at a compound annual growth rate (CAGR) of -9.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +15.6% | -20.2% | +1.8% |
| 2022 | +21.0% | +28.3% | +0.9% |
| 2021 | -14.5% | -11.9% | +0.9% |
| 2020 | -24.3% | -13.0% | +1.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Florida Gas Transmission Company Veba 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Florida Gas Transmission Company Veba allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 $496K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or key employees are compensated directly by the organization, or their compensation is managed externally, which contributes to very low administrative overhead.
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 Florida Gas Transmission Company Veba's IRS 990 filings:
- Significant negative revenue reported in 2018 without clear explanation in provided data.
Strengths
The following positive indicators were identified for Florida Gas Transmission Company Veba:
- Strong asset base ($29,279,962) with consistent growth.
- Zero reported liabilities across all filings, indicating excellent financial stability.
- No reported officer compensation, suggesting highly efficient administrative costs or external management.
- Consistent positive net assets over time, demonstrating financial resilience.
Frequently Asked Questions about Florida Gas Transmission Company Veba
Is Florida Gas Transmission Company Veba a legitimate charity?
Based on AI analysis of IRS 990 filings, Florida Gas Transmission Company Veba (EIN: 206819759) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Florida Gas Transmission Company Veba spend its money?
Florida Gas Transmission Company Veba directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Florida Gas Transmission Company Veba tax-deductible?
Florida Gas Transmission Company Veba is registered as a tax-exempt nonprofit (EIN: 206819759). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Florida Gas Transmission Company Veba compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Florida Gas Transmission Company Veba is above average for NTEE category Y43 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Florida Gas Transmission Company Veba located?
Florida Gas Transmission Company Veba is headquartered in Des Moines, Iowa and files with the IRS under EIN 206819759. It is classified under NTEE code Y43.
How many years of IRS 990 filings does Florida Gas Transmission Company Veba have?
Florida Gas Transmission Company Veba has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.3M in total revenue.
Is Florida Gas Transmission Company Veba a good charity?
As a Voluntary Employees' Beneficiary Association (VEBA), it's not a public charity in the traditional sense. Its purpose is to provide benefits to employees. Based on its financial health (high assets, no liabilities) and efficient operations (no reported officer compensation), it appears to be well-managed for its intended purpose.
How does the organization manage its significant assets?
With assets of $29,279,962 and consistent growth, the organization likely employs investment strategies to manage and grow its fund, which is typical for a VEBA to ensure long-term benefit provision.
Why is there no officer compensation reported?
The absence of reported officer compensation (0%) suggests that either the organization is managed by volunteers, or compensation for its administrators is handled by a sponsoring entity or through a different financial mechanism not disclosed in the officer compensation section of these 990 filings.
What caused the negative revenue in 2018?
The negative revenue of $-4,379,185 in 2018 could be due to significant investment losses, a large payout of benefits that exceeded incoming contributions, or an accounting adjustment. Without further detail, the exact cause is unclear, but the organization recovered well in subsequent years.
Filing History
IRS 990 filing history for Florida Gas Transmission Company Veba showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Florida Gas Transmission Company Veba's revenue has declined by 71.4%, moving from $3.1M to $897K. Total assets increased by 87.7% over the same period, from $15.3M to $28.7M. Total functional expenses fell by 24.4%, from $531K to $401K. In its most recent filing year (2023), Florida Gas Transmission Company Veba reported a surplus of $496K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $897K | $401K | $28.7M | $0 | — | View 990 |
| 2022 | $777K | $503K | $28.2M | $0 | — | View 990 |
| 2021 | $642K | $392K | $27.9M | $0 | — | View 990 |
| 2020 | $751K | $445K | $27.6M | $0 | — | — |
| 2019 | $991K | $511K | $27.3M | $0 | — | View 990 |
| 2018 | $-4,379,185 | $656K | $26.9M | $0 | — | — |
| 2017 | $5.6M | $1.9M | $26.4M | $0 | — | View 990 |
| 2016 | $3.4M | $792K | $28.2M | $0 | — | View 990 |
| 2015 | $3.1M | $560K | $25.4M | $0 | — | View 990 |
| 2014 | $3.8M | $514K | $22.8M | $0 | — | View 990 |
| 2013 | $2.7M | $804K | $19.6M | $0 | — | View 990 |
| 2012 | $3.0M | $382K | $17.9M | $0 | — | View 990 |
| 2011 | $3.1M | $531K | $15.3M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $897K, expenses of $401K, and assets of $28.7M (revenue +15.6% year-over-year).
- 2022: Revenue of $777K, expenses of $503K, and assets of $28.2M (revenue +21.0% year-over-year).
- 2021: Revenue of $642K, expenses of $392K, and assets of $27.9M (revenue -14.5% year-over-year).
- 2020: Revenue of $751K, expenses of $445K, and assets of $27.6M (revenue -24.3% year-over-year).
- 2019: Revenue of $991K, expenses of $511K, and assets of $27.3M.
- 2018: Revenue of $-4,379,185, expenses of $656K, and assets of $26.9M (revenue -178.1% year-over-year).
- 2017: Revenue of $5.6M, expenses of $1.9M, and assets of $26.4M (revenue +66.8% year-over-year).
- 2016: Revenue of $3.4M, expenses of $792K, and assets of $28.2M (revenue +9.5% year-over-year).
- 2015: Revenue of $3.1M, expenses of $560K, and assets of $25.4M (revenue -18.4% year-over-year).
- 2014: Revenue of $3.8M, expenses of $514K, and assets of $22.8M (revenue +38.9% year-over-year).
- 2013: Revenue of $2.7M, expenses of $804K, and assets of $19.6M (revenue -8.7% year-over-year).
- 2012: Revenue of $3.0M, expenses of $382K, and assets of $17.9M (revenue -5.3% year-over-year).
- 2011: Revenue of $3.1M, expenses of $531K, and assets of $15.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Florida Gas Transmission Company Veba:
Data Sources and Methodology
This transparency report for Florida Gas Transmission Company Veba 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.