The Metlife Veba Trust
Metlife VEBA Trust maintains strong asset base with fluctuating revenues typical for benefit associations.
EIN: 137028833 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $56.8M |
| Total Expenses | $27.8M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $965.4M |
| Transparency Score | 85/100 |
Is The Metlife Veba Trust Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Metlife Veba Trust directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Metlife Veba Trust
The Metlife Veba Trust (EIN: 137028833) is a nonprofit organization based in New York, NY. The organization reported total revenue of $56.8M and total assets of $985.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Metlife Veba Trust's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Metlife Veba Trust is a major nonprofit that has been operating for 33 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $63.7M |
| Total Expenses | $27.8M |
| Surplus / Deficit | +$35.9M |
| Total Assets | $965.4M |
| Net Assets | $965.4M |
| Operating Margin | 56.3% |
| Months of Reserves | 416.5 months |
Financial Health Grade: A
In 2023, The Metlife Veba Trust reported a surplus of $35.9M with revenue exceeding expenses, holds 416.5 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), The Metlife Veba Trust's revenue has grown at a compound annual growth rate (CAGR) of 0.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -527.3% | +114.1% | -4.5% |
| 2021 | -92.2% | -72.7% | -0.5% |
| 2020 | -56.4% | -17.1% | +3.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1993 |
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 The Metlife 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, The Metlife Veba Trust allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 $35.9M, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, suggesting that either no officers receive compensation directly from the trust or their compensation is covered by a related entity, indicating a very lean direct payroll for leadership relative to the organization's nearly $1 billion in assets.
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 The Metlife Veba Trust's IRS 990 filings:
- Lack of detailed program vs. administrative expense breakdown in provided data
- NTEE code is unknown, limiting classification and comparative analysis
Strengths
The following positive indicators were identified for The Metlife Veba Trust:
- Consistent and substantial asset base, reaching $985,227,126 in the latest period.
- Zero reported liabilities across all filings, indicating strong financial stability.
- No reported officer compensation, suggesting efficient or externally supported administration.
- Consistent IRS 990 filing history, demonstrating transparency.
- Expenses generally well below revenue in positive revenue years, indicating effective management of funds.
Frequently Asked Questions about The Metlife Veba Trust
Is The Metlife Veba Trust a legitimate charity?
The Metlife Veba Trust (EIN: 137028833) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $56.8M. 2 red flags identified. 5 strengths noted. Financial health grade: A.
How does The Metlife Veba Trust spend its money?
The Metlife Veba Trust directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to The Metlife Veba Trust tax-deductible?
The Metlife Veba Trust is registered as a tax-exempt nonprofit (EIN: 137028833). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the The Metlife Veba Trust CEO make?
The Metlife Veba Trust's highest-compensated officer earns $1 annually. The organization reported $56.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
Where is The Metlife Veba Trust located?
The Metlife Veba Trust is headquartered in New York, New York and files with the IRS under EIN 137028833.
How many years of IRS 990 filings does The Metlife Veba Trust have?
The Metlife 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 $56.8M in total revenue.
What is the primary purpose of The Metlife VEBA Trust?
As a VEBA (Voluntary Employees' Beneficiary Association), its primary purpose is to provide health and welfare benefits to employees and their beneficiaries, as permitted by IRS regulations.
Why does the trust report negative revenue in some years?
Negative revenue in a VEBA can occur due to investment losses or significant benefit payouts exceeding investment gains and contributions in a given period, which is not uncommon for such trusts.
How are administrative costs covered if officer compensation is zero?
It is likely that administrative services, including executive oversight, are provided by Metlife or a related entity, with costs potentially being reimbursed or absorbed, rather than directly paid as officer compensation from the trust itself.
What is the typical spending ratio for a VEBA?
For a VEBA, the majority of expenses are typically benefit payouts. Administrative costs are usually a smaller portion, focused on managing the trust and distributing benefits, rather than traditional 'program' spending as seen in other nonprofits.
Filing History
IRS 990 filing history for The Metlife Veba Trust showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), The Metlife Veba Trust's revenue has grown by 8.4%, moving from $58.7M to $63.7M. Total assets increased by 30.8% over the same period, from $738.3M to $965.4M. Total functional expenses rose by 378.1%, from $5.8M to $27.8M. In its most recent filing year (2023), The Metlife Veba Trust reported a surplus of $35.9M, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $63.7M | $27.8M | $965.4M | $0 | — | — |
| 2022 | $-21,605,164 | $21.0M | $930.0M | $0 | — | — |
| 2021 | $5.1M | $9.8M | $973.3M | $0 | — | View 990 |
| 2020 | $64.4M | $35.9M | $978.6M | $0 | — | — |
| 2019 | $147.7M | $43.3M | $950.0M | $0 | — | View 990 |
| 2018 | $-33,613,369 | $42.9M | $845.8M | $0 | — | View 990 |
| 2017 | $100.3M | $52.6M | $922.2M | $0 | — | View 990 |
| 2016 | $55.7M | $43.8M | $874.4M | $0 | — | View 990 |
| 2015 | $-11,818,043 | $34.0M | $863.6M | $0 | — | View 990 |
| 2014 | $87.5M | $21.0M | $909.4M | $0 | — | View 990 |
| 2013 | $35.9M | $6.9M | $838.1M | $0 | — | View 990 |
| 2012 | $82.3M | $6.8M | $813.7M | $0 | — | View 990 |
| 2011 | $58.7M | $5.8M | $738.3M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $63.7M, expenses of $27.8M, and assets of $965.4M.
- 2022: Revenue of $-21,605,164, expenses of $21.0M, and assets of $930.0M (revenue -527.3% year-over-year).
- 2021: Revenue of $5.1M, expenses of $9.8M, and assets of $973.3M (revenue -92.2% year-over-year).
- 2020: Revenue of $64.4M, expenses of $35.9M, and assets of $978.6M (revenue -56.4% year-over-year).
- 2019: Revenue of $147.7M, expenses of $43.3M, and assets of $950.0M.
- 2018: Revenue of $-33,613,369, expenses of $42.9M, and assets of $845.8M (revenue -133.5% year-over-year).
- 2017: Revenue of $100.3M, expenses of $52.6M, and assets of $922.2M (revenue +80.1% year-over-year).
- 2016: Revenue of $55.7M, expenses of $43.8M, and assets of $874.4M.
- 2015: Revenue of $-11,818,043, expenses of $34.0M, and assets of $863.6M (revenue -113.5% year-over-year).
- 2014: Revenue of $87.5M, expenses of $21.0M, and assets of $909.4M (revenue +143.6% year-over-year).
- 2013: Revenue of $35.9M, expenses of $6.9M, and assets of $838.1M (revenue -56.4% year-over-year).
- 2012: Revenue of $82.3M, expenses of $6.8M, and assets of $813.7M (revenue +40.2% year-over-year).
- 2011: Revenue of $58.7M, expenses of $5.8M, and assets of $738.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Metlife Veba Trust:
Data Sources and Methodology
This transparency report for The Metlife 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.