Nisource Non Union Life And Medical Benefits Veba Trust
Nisource VEBA Trust consistently disburses more in benefits than it receives in revenue, drawing down on its substantial asset base.
EIN: 206907686 · Merrillville, IN · NTEE: Y43 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $12.9M |
| Total Expenses | $10.4M |
| Program Spending | 95% |
| Net Assets | $61.9M |
| Transparency Score | 85/100 |
Is Nisource Non Union Life And Medical Benefits Veba Trust Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Nisource Non Union Life And Medical Benefits Veba Trust directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Nisource Non Union Life And Medical Benefits Veba Trust
Nisource Non Union Life And Medical Benefits Veba Trust (EIN: 206907686) is a nonprofit organization based in Merrillville, IN, classified under NTEE code Y43. The organization reported total revenue of $12.9M and total assets of $62.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Nisource Non Union Life And Medical Benefits Veba Trust's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Nisource Non Union Life And Medical Benefits Veba Trust is a large nonprofit that has been operating for 18 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 10.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.1M |
| Total Expenses | $10.4M |
| Surplus / Deficit | $-5,305,419 |
| Total Assets | $62.0M |
| Total Liabilities | $83K |
| Net Assets | $61.9M |
| Operating Margin | -103.8% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 71.4 months |
Financial Health Grade: B
In 2023, Nisource Non Union Life And Medical Benefits Veba Trust reported a deficit of $5.3M with expenses exceeding revenue, holds 71.4 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), Nisource Non Union Life And Medical Benefits Veba Trust's revenue has grown at a compound annual growth rate (CAGR) of 10.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2363.2% | +22.4% | -1.9% |
| 2022 | -97.3% | -22.3% | -20.9% |
| 2021 | +20.0% | +38.0% | -4.2% |
| 2020 | +33.8% | +16.5% | +3.5% |
| 2019 | -9.6% | -5.4% | +5.8% |
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 Nisource Non Union Life And Medical Benefits Veba 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: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Nisource Non Union Life And Medical Benefits Veba Trust 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 $5.3M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.1%.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that executive compensation is either non-existent, handled by a related entity, or falls below reporting thresholds, which is a positive sign for minimizing 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 Nisource Non Union Life And Medical Benefits Veba Trust's IRS 990 filings:
- Consistent net losses where expenses frequently exceed revenue, leading to a decline in assets from $95.6M in 2014 to $62M in 2023.
Strengths
The following positive indicators were identified for Nisource Non Union Life And Medical Benefits Veba Trust:
- Consistent IRS 990 filing history demonstrates strong transparency.
- Zero reported officer compensation indicates efficient use of funds for its intended purpose.
- Substantial asset base ($62,001,726 in 2023) provides financial stability for future benefit payouts.
- Low liabilities relative to assets, indicating good financial management of obligations.
Frequently Asked Questions about Nisource Non Union Life And Medical Benefits Veba Trust
Is Nisource Non Union Life And Medical Benefits Veba Trust a legitimate charity?
Based on AI analysis of IRS 990 filings, Nisource Non Union Life And Medical Benefits Veba Trust (EIN: 206907686) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Nisource Non Union Life And Medical Benefits Veba Trust spend its money?
Nisource Non Union Life And Medical Benefits Veba Trust directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Nisource Non Union Life And Medical Benefits Veba Trust tax-deductible?
Nisource Non Union Life And Medical Benefits Veba Trust is registered as a tax-exempt nonprofit (EIN: 206907686). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Nisource Non Union Life And Medical Benefits Veba Trust compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Nisource Non Union Life And Medical Benefits Veba 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 Nisource Non Union Life And Medical Benefits Veba Trust located?
Nisource Non Union Life And Medical Benefits Veba Trust is headquartered in Merrillville, Indiana and files with the IRS under EIN 206907686. It is classified under NTEE code Y43.
How many years of IRS 990 filings does Nisource Non Union Life And Medical Benefits Veba Trust have?
Nisource Non Union Life And Medical Benefits Veba Trust 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 $12.9M in total revenue.
How does the organization manage its significant liabilities, such as the $83,474 reported in 2023, relative to its assets?
The organization's liabilities, while present, are relatively small compared to its substantial asset base of $62,001,726 in 2023. This suggests a strong financial position to cover its obligations.
Given the consistent trend of expenses exceeding revenue, what is the long-term sustainability plan for the trust's asset base?
As a VEBA trust, it's common for expenses (benefit payouts) to exceed revenue, drawing down assets over time. The sustainability depends on the actuarial projections for benefit obligations and any future contributions or investment returns.
What specific types of benefits are provided by the Nisource Non Union Life And Medical Benefits Veba Trust?
Based on the NTEE code Y43 (Employee or Volunteer Welfare & Benefit Funds) and the organization's name, it likely provides life and medical benefits to non-union employees of Nisource. The 990 filings would detail the specific nature of these benefits in the program service accomplishments section.
Filing History
IRS 990 filing history for Nisource Non Union Life And Medical Benefits Veba Trust showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Nisource Non Union Life And Medical Benefits Veba Trust's revenue has grown by 231.3%, moving from $1.5M to $5.1M. Total assets increased by 74% over the same period, from $35.6M to $62.0M. Total functional expenses rose by 463.5%, from $1.8M to $10.4M. In its most recent filing year (2023), Nisource Non Union Life And Medical Benefits Veba Trust reported a deficit of $5.3M, with expenses exceeding revenue. The organization holds $83K in liabilities against $62.0M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $61.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.1M | $10.4M | $62.0M | $83K | — | — |
| 2022 | $208K | $8.5M | $63.2M | $82K | — | View 990 |
| 2021 | $7.8M | $10.9M | $79.9M | $352K | — | View 990 |
| 2020 | $6.5M | $7.9M | $83.4M | $94K | — | View 990 |
| 2019 | $4.9M | $6.8M | $80.6M | $107K | — | — |
| 2018 | $5.4M | $7.2M | $76.2M | $118K | — | View 990 |
| 2017 | $9.9M | $6.3M | $86.1M | $738K | — | View 990 |
| 2016 | $6.0M | $6.1M | $79.5M | $2.6M | — | View 990 |
| 2015 | $6.2M | $6.3M | $46.6M | $703K | — | View 990 |
| 2014 | $5.8M | $8.7M | $95.6M | $92K | — | View 990 |
| 2013 | $2.0M | $1.5M | $44.3M | $36K | — | View 990 |
| 2012 | $1.3M | $1.5M | $38.8M | $37K | — | View 990 |
| 2011 | $1.5M | $1.8M | $35.6M | $37K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.1M, expenses of $10.4M, and assets of $62.0M (revenue +2363.2% year-over-year).
- 2022: Revenue of $208K, expenses of $8.5M, and assets of $63.2M (revenue -97.3% year-over-year).
- 2021: Revenue of $7.8M, expenses of $10.9M, and assets of $79.9M (revenue +20.0% year-over-year).
- 2020: Revenue of $6.5M, expenses of $7.9M, and assets of $83.4M (revenue +33.8% year-over-year).
- 2019: Revenue of $4.9M, expenses of $6.8M, and assets of $80.6M (revenue -9.6% year-over-year).
- 2018: Revenue of $5.4M, expenses of $7.2M, and assets of $76.2M (revenue -45.6% year-over-year).
- 2017: Revenue of $9.9M, expenses of $6.3M, and assets of $86.1M (revenue +65.8% year-over-year).
- 2016: Revenue of $6.0M, expenses of $6.1M, and assets of $79.5M (revenue -3.0% year-over-year).
- 2015: Revenue of $6.2M, expenses of $6.3M, and assets of $46.6M (revenue +6.4% year-over-year).
- 2014: Revenue of $5.8M, expenses of $8.7M, and assets of $95.6M (revenue +191.4% year-over-year).
- 2013: Revenue of $2.0M, expenses of $1.5M, and assets of $44.3M (revenue +51.8% year-over-year).
- 2012: Revenue of $1.3M, expenses of $1.5M, and assets of $38.8M (revenue -15.2% year-over-year).
- 2011: Revenue of $1.5M, expenses of $1.8M, and assets of $35.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Nisource Non Union Life And Medical Benefits Veba Trust:
Data Sources and Methodology
This transparency report for Nisource Non Union Life And Medical Benefits Veba 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.