Kenco Group Inc Voluntary Employee Benefit Association Trust
Kenco Group VEBA consistently disburses benefits, with expenses often slightly exceeding revenue, maintaining minimal assets and zero liabilities.
EIN: 202653381 · Chattanooga, TN · NTEE: Y43 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $36.5M |
| Total Expenses | $38.0M |
| Program Spending | 98% |
| Net Assets | $114K |
| Transparency Score | 85/100 |
Is Kenco Group Inc Voluntary Employee Benefit Association Trust Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Kenco Group Inc Voluntary Employee Benefit Association Trust directs 98% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Kenco Group Inc Voluntary Employee Benefit Association Trust
Kenco Group Inc Voluntary Employee Benefit Association Trust (EIN: 202653381) is a nonprofit organization based in Chattanooga, TN, classified under NTEE code Y43. The organization reported total revenue of $36.5M and total assets of $114K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Kenco Group Inc Voluntary Employee Benefit Association Trust's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Kenco Group Inc Voluntary Employee Benefit Association Trust is a large nonprofit that has been operating for 18 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 8.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $36.5M |
| Total Expenses | $38.0M |
| Surplus / Deficit | $-1,573,055 |
| Total Assets | $114K |
| Net Assets | $114K |
| Operating Margin | -4.3% |
| Months of Reserves | 0.0 months |
Financial Health Grade: C
In 2023, Kenco Group Inc Voluntary Employee Benefit Association Trust reported a deficit of $1.6M with expenses exceeding revenue, holds 0.0 months of operating reserves (limited).
Financial Trends
Over 12 years of filings (2012–2023), Kenco Group Inc Voluntary Employee Benefit Association Trust's revenue has grown at a compound annual growth rate (CAGR) of 8.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.5% | +16.8% | -93.3% |
| 2022 | +24.5% | +18.4% | +7473.5% |
| 2021 | +15.3% | +15.3% | -41.5% |
| 2020 | +17.1% | +17.0% | -8.8% |
| 2019 | +27.3% | +25.8% | -9.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
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 Kenco Group Inc Voluntary Employee Benefit Association Trust 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: 2%
- programs: 98%
- fundraising: 0%
According to IRS 990 filings, Kenco Group Inc Voluntary Employee Benefit Association Trust allocates its expenses as follows: admin: 2%, programs: 98%, fundraising: 0%. With 98% 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 $1.6M, with expenses exceeding revenue.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that executive leadership is either unpaid or compensated through other means not reported as officer compensation on the 990, which is unusual for an organization of this revenue size.
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 Kenco Group Inc Voluntary Employee Benefit Association Trust's IRS 990 filings:
- Consistent expenses slightly exceeding revenue, potentially drawing down reserves if not managed by a related entity.
- Zero reported officer compensation for an organization with over $36 million in revenue, which could indicate compensation is handled off-book or by a related entity, reducing transparency regarding leadership costs.
Strengths
The following positive indicators were identified for Kenco Group Inc Voluntary Employee Benefit Association Trust:
- Zero reported liabilities across all filings, indicating strong financial solvency.
- Consistent and high program spending (benefit disbursements) relative to total expenses, aligning with its VEBA mission.
- Consistent IRS 990 filing history, demonstrating good transparency and compliance.
- No reported officer compensation, suggesting efficient use of funds for its primary purpose.
Frequently Asked Questions about Kenco Group Inc Voluntary Employee Benefit Association Trust
Is Kenco Group Inc Voluntary Employee Benefit Association Trust a legitimate charity?
Based on AI analysis of IRS 990 filings, Kenco Group Inc Voluntary Employee Benefit Association Trust (EIN: 202653381) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Kenco Group Inc Voluntary Employee Benefit Association Trust spend its money?
Kenco Group Inc Voluntary Employee Benefit Association Trust directs 98% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Kenco Group Inc Voluntary Employee Benefit Association Trust tax-deductible?
Kenco Group Inc Voluntary Employee Benefit Association Trust is registered as a tax-exempt nonprofit (EIN: 202653381). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Kenco Group Inc Voluntary Employee Benefit Association Trust compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Kenco Group Inc Voluntary Employee Benefit Association Trust 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 Kenco Group Inc Voluntary Employee Benefit Association Trust located?
Kenco Group Inc Voluntary Employee Benefit Association Trust is headquartered in Chattanooga, Tennessee and files with the IRS under EIN 202653381. It is classified under NTEE code Y43.
How many years of IRS 990 filings does Kenco Group Inc Voluntary Employee Benefit Association Trust have?
Kenco Group Inc Voluntary Employee Benefit Association Trust has 12 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 $36.5M in total revenue.
Is Kenco Group Inc Voluntary Employee Benefit Association Trust a good charity?
As a Voluntary Employee Benefit Association (VEBA), its purpose is to provide benefits to employees, not to operate as a public charity. Its financial management appears consistent with this purpose, showing high program spending (benefit disbursements) and no reported officer compensation.
Why are assets so low compared to revenue?
For a VEBA, low assets relative to high revenue are typical because the organization's primary function is to collect contributions and disburse them as benefits, rather than to accumulate significant reserves or endowments. For example, in 202305, revenue was $36,469,880 while assets were only $113,719.
What does 'Officer Comp=0%' mean?
This indicates that no compensation was reported for officers, directors, trustees, or key employees on the IRS Form 990, which is unusual for an organization with annual revenues exceeding $30 million. It suggests that leadership may be compensated by a related entity or serves in an unpaid capacity.
Is the consistent spending exceeding revenue a concern?
While expenses often slightly exceed revenue (e.g., $38,042,935 expenses vs. $36,469,880 revenue in 202305), this is not necessarily a red flag for a VEBA. These organizations are designed to disburse funds for benefits, and minor fluctuations or deficits can be managed, especially with zero reported liabilities.
Filing History
IRS 990 filing history for Kenco Group Inc Voluntary Employee Benefit Association Trust showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Kenco Group Inc Voluntary Employee Benefit Association Trust's revenue has grown by 146.4%, moving from $14.8M to $36.5M. Total assets decreased by 47.8% over the same period, from $218K to $114K. Total functional expenses rose by 139.3%, from $15.9M to $38.0M. In its most recent filing year (2023), Kenco Group Inc Voluntary Employee Benefit Association Trust reported a deficit of $1.6M, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $36.5M | $38.0M | $114K | $0 | — | View 990 |
| 2022 | $34.2M | $32.6M | $1.7M | $0 | — | View 990 |
| 2021 | $27.5M | $27.5M | $22K | $0 | — | — |
| 2020 | $23.9M | $23.9M | $38K | $0 | — | — |
| 2019 | $20.4M | $20.4M | $42K | $0 | — | View 990 |
| 2018 | $16.0M | $16.2M | $46K | $0 | — | View 990 |
| 2017 | $19.9M | $19.8M | $241K | $0 | — | View 990 |
| 2016 | $20.0M | $19.9M | $175K | $0 | — | View 990 |
| 2015 | $18.9M | $19.2M | $75K | $0 | — | View 990 |
| 2014 | $16.6M | $16.9M | $356K | $0 | — | View 990 |
| 2013 | $18.3M | $17.9M | $583K | $0 | — | View 990 |
| 2012 | $14.8M | $15.9M | $218K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $36.5M, expenses of $38.0M, and assets of $114K (revenue +6.5% year-over-year).
- 2022: Revenue of $34.2M, expenses of $32.6M, and assets of $1.7M (revenue +24.5% year-over-year).
- 2021: Revenue of $27.5M, expenses of $27.5M, and assets of $22K (revenue +15.3% year-over-year).
- 2020: Revenue of $23.9M, expenses of $23.9M, and assets of $38K (revenue +17.1% year-over-year).
- 2019: Revenue of $20.4M, expenses of $20.4M, and assets of $42K (revenue +27.3% year-over-year).
- 2018: Revenue of $16.0M, expenses of $16.2M, and assets of $46K (revenue -19.4% year-over-year).
- 2017: Revenue of $19.9M, expenses of $19.8M, and assets of $241K (revenue -0.7% year-over-year).
- 2016: Revenue of $20.0M, expenses of $19.9M, and assets of $175K (revenue +5.8% year-over-year).
- 2015: Revenue of $18.9M, expenses of $19.2M, and assets of $75K (revenue +13.5% year-over-year).
- 2014: Revenue of $16.6M, expenses of $16.9M, and assets of $356K (revenue -9.0% year-over-year).
- 2013: Revenue of $18.3M, expenses of $17.9M, and assets of $583K (revenue +23.7% year-over-year).
- 2012: Revenue of $14.8M, expenses of $15.9M, and assets of $218K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Kenco Group Inc Voluntary Employee Benefit Association Trust:
Data Sources and Methodology
This transparency report for Kenco Group Inc Voluntary Employee Benefit Association 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.