Nysut Retiree Veba Health Fund
Nysut Retiree Veba Health Fund consistently grows assets and maintains strong solvency with no reported officer compensation.
EIN: 146204878 · Latham, NY · NTEE: Y43 · Updated: 2026-03-28
Is Nysut Retiree Veba Health Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Nysut Retiree Veba Health Fund directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Nysut Retiree Veba Health Fund
Nysut Retiree Veba Health Fund (EIN: 146204878) is a nonprofit organization based in Latham, NY, classified under NTEE code Y43. The organization reported total revenue of $18.6M and total assets of $50.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Nysut Retiree Veba Health Fund'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 Nysut Retiree Veba Health Fund with a Mission Score of 92 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, Nysut Retiree Veba Health Fund 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
The Nysut Retiree Veba Health Fund consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers, which is highly unusual for an organization of its size ($11.9 million in 2023 revenue and $40 million in assets). This suggests a volunteer-led or externally managed structure for executive functions, contributing 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 Nysut Retiree Veba Health Fund's IRS 990 filings:
- Lack of detailed administrative expense breakdown in summary data, though typical for VEBAs where benefit administration is often integrated.
Strengths
The following positive indicators were identified for Nysut Retiree Veba Health Fund:
- Consistent asset growth, from $23.4 million in 2014 to $40 million in 2023, demonstrating strong financial health.
- Zero reported officer compensation across all filings, indicating highly efficient administrative spending.
- Strong solvency with very low liabilities relative to assets (e.g., $84,724 liabilities vs. $40 million assets in 2023).
- Consistent revenue generation and expense management, with surpluses contributing to the fund's stability.
- Clear mission focus on providing retiree health benefits, as evidenced by its VEBA structure and NTEE code.
Frequently Asked Questions about Nysut Retiree Veba Health Fund
Is Nysut Retiree Veba Health Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Nysut Retiree Veba Health Fund (EIN: 146204878) some concerns. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
How does Nysut Retiree Veba Health Fund spend its money?
Nysut Retiree Veba Health Fund directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Nysut Retiree Veba Health Fund tax-deductible?
Nysut Retiree Veba Health Fund is registered as a tax-exempt nonprofit (EIN: 146204878). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Nysut Retiree Veba Health Fund a good charity?
Based on its financial data, the Nysut Retiree Veba Health Fund appears to be a well-managed and financially sound organization. It consistently maintains a strong asset base, has very low liabilities, and reports no officer compensation, indicating efficient use of funds primarily for its intended purpose of providing retiree health benefits.
How does the organization's asset growth compare to its revenue growth?
The organization's assets have grown significantly, from $23.4 million in 2014 to $40 million in 2023, while revenue has also increased from $5.4 million to $11.9 million over the same period. This indicates that the fund is effectively accumulating reserves to secure future benefit obligations, which is a positive sign for a VEBA.
What is the primary purpose of this organization?
As a VEBA (Voluntary Employees' Beneficiary Association) with NTEE code Y43 (Employee or Member Welfare Organizations), its primary purpose is to provide health benefits to Nysut retirees, as evidenced by its consistent expenses tracking revenue for benefit disbursements.
Filing History
IRS 990 filing history for Nysut Retiree Veba Health Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Nysut Retiree Veba Health Fund's revenue has grown by 57.8%, moving from $7.5M to $11.9M. Total assets increased by 84.4% over the same period, from $21.7M to $40.0M. Total functional expenses rose by 170.3%, from $4.1M to $11.1M. In its most recent filing year (2023), Nysut Retiree Veba Health Fund reported a surplus of $832K, with revenue exceeding expenses. The organization holds $85K in liabilities against $40.0M in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $39.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $11.9M | $11.1M | $40.0M | $85K | — | View 990 |
| 2022 | $11.0M | $9.6M | $37.4M | $86K | — | View 990 |
| 2021 | $15.1M | $8.7M | $42.5M | $81K | — | View 990 |
| 2020 | $6.9M | $7.9M | $34.2M | $76K | — | — |
| 2019 | $9.5M | $7.9M | $30.1M | $71K | — | View 990 |
| 2018 | $9.8M | $6.8M | $29.9M | $64K | — | View 990 |
| 2017 | $8.2M | $6.7M | $26.2M | $74K | — | View 990 |
| 2016 | $6.6M | $6.5M | $23.2M | $189K | — | View 990 |
| 2015 | $7.5M | $5.9M | $22.8M | $123K | — | View 990 |
| 2014 | $5.4M | $5.2M | $23.4M | $61K | — | View 990 |
| 2013 | $5.3M | $4.5M | $20.8M | $0 | — | View 990 |
| 2012 | $2.7M | $4.4M | $20.0M | $0 | — | View 990 |
| 2011 | $7.5M | $4.1M | $21.7M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $11.9M, expenses of $11.1M, and assets of $40.0M (revenue +7.9% year-over-year).
- 2022: Revenue of $11.0M, expenses of $9.6M, and assets of $37.4M (revenue -26.9% year-over-year).
- 2021: Revenue of $15.1M, expenses of $8.7M, and assets of $42.5M (revenue +118.4% year-over-year).
- 2020: Revenue of $6.9M, expenses of $7.9M, and assets of $34.2M (revenue -27.5% year-over-year).
- 2019: Revenue of $9.5M, expenses of $7.9M, and assets of $30.1M (revenue -2.7% year-over-year).
- 2018: Revenue of $9.8M, expenses of $6.8M, and assets of $29.9M (revenue +20.2% year-over-year).
- 2017: Revenue of $8.2M, expenses of $6.7M, and assets of $26.2M (revenue +23.1% year-over-year).
- 2016: Revenue of $6.6M, expenses of $6.5M, and assets of $23.2M (revenue -11.9% year-over-year).
- 2015: Revenue of $7.5M, expenses of $5.9M, and assets of $22.8M (revenue +38.9% year-over-year).
- 2014: Revenue of $5.4M, expenses of $5.2M, and assets of $23.4M (revenue +2.3% year-over-year).
- 2013: Revenue of $5.3M, expenses of $4.5M, and assets of $20.8M (revenue +94.3% year-over-year).
- 2012: Revenue of $2.7M, expenses of $4.4M, and assets of $20.0M (revenue -63.9% year-over-year).
- 2011: Revenue of $7.5M, expenses of $4.1M, and assets of $21.7M.
Data Sources and Methodology
This transparency report for Nysut Retiree Veba Health Fund 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.