Special Metals Corporation Salaried Retirees Veba Tr

Special Metals Retirees VEBA Trust consistently manages benefits with no executive compensation and growing assets.

EIN: 200367488 · Ona, WV · NTEE: Y43 · Updated: 2026-03-28

$3.6MRevenue

$7.8MAssets

90/100Mission Score (Excellent)

Y43

About Special Metals Corporation Salaried Retirees Veba Tr

Special Metals Corporation Salaried Retirees Veba Tr (EIN: 200367488) is a nonprofit organization based in Ona, WV, classified under NTEE code Y43. The organization reported total revenue of $3.6M and total assets of $7.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Special Metals Corporation Salaried Retirees Veba Tr's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Special Metals Corporation Salaried Retirees Veba Tr appears to be a stable organization primarily focused on providing benefits, as indicated by its NTEE code Y43 (Voluntary Employees' Beneficiary Associations). The organization consistently reports revenues in the range of $3.3M to $3.6M and expenses that closely track revenue, suggesting a steady operational model. For instance, in 2023, revenue was $3,673,711 against expenses of $3,083,128, resulting in a surplus. Its asset base has shown consistent growth over the past decade, from $3,998,293 in 2014 to $7,122,440 in 2023, indicating sound financial management and accumulation of reserves. The organization's liabilities have remained relatively low compared to its assets, further demonstrating financial stability.

The organization's spending efficiency is high, with a significant portion of its expenses likely directed towards its primary purpose of providing benefits, given its VEBA structure. The consistent reporting of 0% officer compensation across all available filings is a strong indicator of transparency and efficient use of funds, as no funds are diverted to executive salaries. This structure suggests that the organization is managed without high administrative overhead from executive pay, which is commendable for a nonprofit of its size. The consistent filing of IRS Form 990s over 14 periods also demonstrates a commitment to regulatory compliance and transparency.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Special Metals Corporation Salaried Retirees Veba Tr 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, Special Metals Corporation Salaried Retirees Veba Tr 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

Executive compensation is consistently reported as 0% across all available filings, indicating that no salaries are paid to officers. This is highly unusual for an organization with over $3 million in annual revenue and suggests a volunteer-led or externally managed structure, significantly reducing 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.

Strengths

The following positive indicators were identified for Special Metals Corporation Salaried Retirees Veba Tr:

Consistent revenue generation, averaging over $3.5 million annually.
Strong asset growth, increasing from $3.9 million in 2014 to $7.1 million in 2023.
Zero reported executive compensation, indicating highly efficient use of funds.
Low liabilities relative to assets, demonstrating financial stability.
Consistent IRS 990 filing history, showing commitment to transparency.

Frequently Asked Questions about Special Metals Corporation Salaried Retirees Veba Tr

Is Special Metals Corporation Salaried Retirees Veba Tr a good charity?

Based on the available data, the organization appears to be very well-managed financially, with consistent revenue, growing assets, and no reported executive compensation. Its NTEE code suggests it serves a specific beneficiary group, and its financial health indicates it is effectively fulfilling its purpose.

How does the organization manage without officer compensation?

The consistent reporting of 0% officer compensation suggests that the organization may be managed by volunteers, through an external administrative service, or that compensation is structured in a way not reported as 'officer compensation' on the 990, though the latter is less likely given the consistency. This structure significantly reduces administrative costs.

What are the primary expenses of this organization?

Given its nature as a VEBA Trust (NTEE Y43), the primary expenses are almost certainly benefit payments to retirees. The close alignment of expenses to revenue, such as $3,083,128 in expenses against $3,673,711 in revenue in 2023, supports this, indicating a high program spending ratio.

Filing History

IRS 990 filing history for Special Metals Corporation Salaried Retirees Veba Tr showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2010–2023), Special Metals Corporation Salaried Retirees Veba Tr's revenue has declined by 8.5%, moving from $4.0M to $3.7M. Total assets increased by 116% over the same period, from $3.3M to $7.1M. Total functional expenses fell by 17.3%, from $3.7M to $3.1M. In its most recent filing year (2023), Special Metals Corporation Salaried Retirees Veba Tr reported a surplus of $591K, with revenue exceeding expenses. The organization holds $256K in liabilities against $7.1M in assets (debt-to-asset ratio: 3.6%), resulting in net assets of $6.9M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$3.7M	$3.1M	$7.1M	$256K	—	—
2022	$3.5M	$3.2M	$6.3M	$290K	—	—
2021	$3.4M	$3.6M	$6.7M	$520K	—	View 990
2020	$3.4M	$3.3M	$6.3M	$256K	—	—
2019	$3.6M	$3.1M	$6.0M	$333K	—	View 990
2018	$3.5M	$3.3M	$5.2M	$394K	—	View 990
2017	$3.6M	$3.3M	$5.0M	$368K	—	View 990
2016	$3.6M	$3.3M	$4.7M	$584K	—	View 990
2015	$3.7M	$3.6M	$4.4M	$668K	—	View 990
2014	$3.6M	$3.7M	$4.0M	$376K	—	View 990
2013	$3.8M	$3.8M	$4.2M	$514K	—	View 990
2012	$0	$0	$0	$0	—	View 990
2011	$4.0M	$3.6M	$3.8M	$308K	—	View 990
2010	$4.0M	$3.7M	$3.3M	$241K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $3.7M, expenses of $3.1M, and assets of $7.1M (revenue +5.6% year-over-year).
2022: Revenue of $3.5M, expenses of $3.2M, and assets of $6.3M (revenue +2.8% year-over-year).
2021: Revenue of $3.4M, expenses of $3.6M, and assets of $6.7M (revenue -1.7% year-over-year).
2020: Revenue of $3.4M, expenses of $3.3M, and assets of $6.3M (revenue -5.0% year-over-year).
2019: Revenue of $3.6M, expenses of $3.1M, and assets of $6.0M (revenue +3.1% year-over-year).
2018: Revenue of $3.5M, expenses of $3.3M, and assets of $5.2M (revenue -1.8% year-over-year).
2017: Revenue of $3.6M, expenses of $3.3M, and assets of $5.0M (revenue -1.3% year-over-year).
2016: Revenue of $3.6M, expenses of $3.3M, and assets of $4.7M (revenue -1.1% year-over-year).
2015: Revenue of $3.7M, expenses of $3.6M, and assets of $4.4M (revenue +1.4% year-over-year).
2014: Revenue of $3.6M, expenses of $3.7M, and assets of $4.0M (revenue -4.6% year-over-year).
2013: Revenue of $3.8M, expenses of $3.8M, and assets of $4.2M.
2012: Revenue of $0, expenses of $0, and assets of $0 (revenue -100.0% year-over-year).
2011: Revenue of $4.0M, expenses of $3.6M, and assets of $3.8M (revenue +0.7% year-over-year).
2010: Revenue of $4.0M, expenses of $3.7M, and assets of $3.3M.

Data Sources and Methodology

This transparency report for Special Metals Corporation Salaried Retirees Veba Tr 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.