Middlesex Water Company Voluntaryemployee Beneficiary Association
Middlesex Water Company VEBA consistently grows assets with minimal expenses and no reported officer compensation.
EIN: 207549709 · Dallas, TX · NTEE: Y43 · Updated: 2026-03-28
Is Middlesex Water Company Voluntaryemployee Beneficiary Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Middlesex Water Company Voluntaryemployee Beneficiary Association directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Middlesex Water Company Voluntaryemployee Beneficiary Association
Middlesex Water Company Voluntaryemployee Beneficiary Association (EIN: 207549709) is a nonprofit organization based in Dallas, TX, classified under NTEE code Y43. The organization reported total revenue of $31.0M and total assets of $33.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Middlesex Water Company Voluntaryemployee Beneficiary Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Middlesex Water Company Voluntaryemployee Beneficiary Association is a large nonprofit that has been operating for 17 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.4M |
| Total Expenses | $162K |
| Surplus / Deficit | +$2.2M |
| Total Assets | $26.2M |
| Net Assets | $26.2M |
| Operating Margin | 93.3% |
| Months of Reserves | 1935.9 months |
Financial Health Grade: A
In 2023, Middlesex Water Company Voluntaryemployee Beneficiary Association reported a surplus of $2.2M with revenue exceeding expenses, holds 1935.9 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Middlesex Water Company Voluntaryemployee Beneficiary Association's revenue has grown at a compound annual growth rate (CAGR) of 6.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +15.1% | +29.3% | +9.4% |
| 2022 | -60.7% | -12.3% | +8.8% |
| 2021 | +287.5% | +58.8% | +30.7% |
| 2020 | -58.4% | -93.5% | +8.3% |
| 2019 | +96.0% | +1438.2% | +14.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
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 Middlesex Water Company Voluntaryemployee Beneficiary Association with a Mission Score of 90 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, Middlesex Water Company Voluntaryemployee Beneficiary Association 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 surplus of $2.2M, with revenue exceeding expenses.
Executive Compensation Analysis
No officer compensation has been reported across all available filings, indicating that executive or officer roles are either unpaid, compensated by a related entity, or that the organization's structure does not involve traditional paid executive positions, which contributes to its 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 Middlesex Water Company Voluntaryemployee Beneficiary Association's IRS 990 filings:
- None identified based on the provided financial data, as the organization appears to be operating efficiently and transparently within its defined purpose as a VEBA.
Strengths
The following positive indicators were identified for Middlesex Water Company Voluntaryemployee Beneficiary Association:
- Exceptional financial health with consistent asset growth (from $7.7M in 2014 to $26.2M in 2023).
- Very low expense ratio relative to revenue (e.g., 6.7% in 2023), indicating high efficiency.
- No reported officer compensation, contributing to minimal administrative overhead.
- Zero reported liabilities across all filings, indicating strong financial stability.
- Consistent IRS 990 filing history, demonstrating transparency.
Frequently Asked Questions about Middlesex Water Company Voluntaryemployee Beneficiary Association
Is Middlesex Water Company Voluntaryemployee Beneficiary Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Middlesex Water Company Voluntaryemployee Beneficiary Association (EIN: 207549709) some concerns. Mission Score: 90/100. 1 red flag identified, 5 strengths noted.
How does Middlesex Water Company Voluntaryemployee Beneficiary Association spend its money?
Middlesex Water Company Voluntaryemployee Beneficiary Association directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Middlesex Water Company Voluntaryemployee Beneficiary Association tax-deductible?
Middlesex Water Company Voluntaryemployee Beneficiary Association is registered as a tax-exempt nonprofit (EIN: 207549709). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Middlesex Water Company Voluntary Employee Beneficiary Association a good charity?
As a Voluntary Employee Beneficiary Association (VEBA), its primary purpose is to provide benefits to employees, not to operate as a public charity in the traditional sense. Financially, it is exceptionally well-managed, with consistent asset growth and very low expenses relative to revenue, indicating strong stewardship of funds for its intended beneficiaries.
What is the primary use of the organization's significant revenue surplus?
Given its structure as a VEBA and the consistent growth in assets (from $7.7M in 2014 to $26.2M in 2023), the significant revenue surplus appears to be primarily retained and invested to ensure long-term funding for employee benefits, rather than being spent on operational expenses.
Why are expenses so low compared to revenue?
Expenses are low because, as a VEBA, the organization's operational costs are minimal compared to the funds it collects and holds for future benefit disbursements. The majority of its financial activity involves managing and investing assets rather than extensive program spending in the typical nonprofit sense.
Filing History
IRS 990 filing history for Middlesex Water Company Voluntaryemployee Beneficiary Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Middlesex Water Company Voluntaryemployee Beneficiary Association's revenue has grown by 106.1%, moving from $1.2M to $2.4M. Total assets increased by 745.9% over the same period, from $3.1M to $26.2M. Total functional expenses rose by 10693.6%, from $2K to $162K. In its most recent filing year (2023), Middlesex Water Company Voluntaryemployee Beneficiary Association reported a surplus of $2.2M, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.4M | $162K | $26.2M | $0 | — | View 990 |
| 2022 | $2.1M | $126K | $24.0M | $0 | — | View 990 |
| 2021 | $5.3M | $143K | $22.0M | $0 | — | — |
| 2020 | $1.4M | $90K | $16.8M | $0 | — | — |
| 2019 | $3.3M | $1.4M | $15.6M | $0 | — | View 990 |
| 2018 | $1.7M | $91K | $13.6M | $0 | — | View 990 |
| 2017 | $1.6M | $69K | $12.1M | $0 | — | View 990 |
| 2016 | $1.3M | $44K | $10.5M | $0 | — | View 990 |
| 2015 | $1.6M | $37K | $9.3M | $0 | — | View 990 |
| 2014 | $1.3M | $31K | $7.7M | $0 | — | View 990 |
| 2013 | $1.8M | $30K | $6.5M | $0 | — | View 990 |
| 2012 | $1.6M | $22K | $4.7M | $0 | — | View 990 |
| 2011 | $1.2M | $2K | $3.1M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.4M, expenses of $162K, and assets of $26.2M (revenue +15.1% year-over-year).
- 2022: Revenue of $2.1M, expenses of $126K, and assets of $24.0M (revenue -60.7% year-over-year).
- 2021: Revenue of $5.3M, expenses of $143K, and assets of $22.0M (revenue +287.5% year-over-year).
- 2020: Revenue of $1.4M, expenses of $90K, and assets of $16.8M (revenue -58.4% year-over-year).
- 2019: Revenue of $3.3M, expenses of $1.4M, and assets of $15.6M (revenue +96.0% year-over-year).
- 2018: Revenue of $1.7M, expenses of $91K, and assets of $13.6M (revenue +4.8% year-over-year).
- 2017: Revenue of $1.6M, expenses of $69K, and assets of $12.1M (revenue +23.1% year-over-year).
- 2016: Revenue of $1.3M, expenses of $44K, and assets of $10.5M (revenue -17.3% year-over-year).
- 2015: Revenue of $1.6M, expenses of $37K, and assets of $9.3M (revenue +24.0% year-over-year).
- 2014: Revenue of $1.3M, expenses of $31K, and assets of $7.7M (revenue -28.8% year-over-year).
- 2013: Revenue of $1.8M, expenses of $30K, and assets of $6.5M (revenue +8.9% year-over-year).
- 2012: Revenue of $1.6M, expenses of $22K, and assets of $4.7M (revenue +40.6% year-over-year).
- 2011: Revenue of $1.2M, expenses of $2K, and assets of $3.1M.
Data Sources and Methodology
This transparency report for Middlesex Water Company Voluntaryemployee Beneficiary Association 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.