Tower Automotive Non Union Retiree Veba Trust
Tower Automotive Non Union Retiree Veba Trust's assets have halved in a decade as expenses consistently outpace revenue.
EIN: 205118544 · Lexington, KY · NTEE: Y43 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $917K |
| Total Expenses | $207K |
| Program Spending | 90% |
| Net Assets | $1.5M |
| Transparency Score | 65/100 |
Is Tower Automotive Non Union Retiree Veba Trust Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Tower Automotive Non Union Retiree Veba Trust directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Tower Automotive Non Union Retiree Veba Trust
Tower Automotive Non Union Retiree Veba Trust (EIN: 205118544) is a nonprofit organization based in Lexington, KY, classified under NTEE code Y43. The organization reported total revenue of $917K and total assets of $1.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Tower Automotive Non Union Retiree Veba Trust's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Tower Automotive Non Union Retiree Veba Trust is a small 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 -15.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $78K |
| Total Expenses | $207K |
| Surplus / Deficit | $-128,691 |
| Total Assets | $1.5M |
| Net Assets | $1.5M |
| Operating Margin | -165.3% |
| Months of Reserves | 87.1 months |
Financial Health Grade: B
In 2023, Tower Automotive Non Union Retiree Veba Trust reported a deficit of $129K with expenses exceeding revenue, holds 87.1 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Tower Automotive Non Union Retiree Veba Trust's revenue has declined at a compound annual growth rate (CAGR) of -15.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +22.5% | -28.6% | -5.4% |
| 2022 | -5.3% | +4.6% | -20.5% |
| 2021 | -7.9% | -0.5% | -9.7% |
| 2020 | +17.4% | +38.4% | -5.7% |
| 2019 | +6.7% | +6.5% | -0.6% |
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 Tower Automotive Non Union Retiree Veba Trust with a Mission Score of 65 out of 100 (Good). 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, Tower Automotive Non Union Retiree 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 deficit of $129K, with expenses exceeding revenue.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no executive salaries are paid from the trust's funds, which is a positive sign for resource allocation.
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 Tower Automotive Non Union Retiree Veba Trust's IRS 990 filings:
- Consistent decline in assets over the past decade, from $3,083,452 in 2014 to $1,499,995 in 2023.
- Expenses consistently exceed revenue, indicating reliance on asset drawdowns (e.g., 2023 revenue $77,866 vs. expenses $206,557).
Strengths
The following positive indicators were identified for Tower Automotive Non Union Retiree Veba Trust:
- Consistent 0% officer compensation reported, indicating no executive salaries are paid from the trust.
- Regular and consistent IRS 990 filing history, demonstrating transparency.
- Low liabilities reported across most years, suggesting good management of short-term obligations.
Frequently Asked Questions about Tower Automotive Non Union Retiree Veba Trust
Is Tower Automotive Non Union Retiree Veba Trust a legitimate charity?
Based on AI analysis of IRS 990 filings, Tower Automotive Non Union Retiree Veba Trust (EIN: 205118544) some concerns. Mission Score: 65/100. 2 red flags identified, 3 strengths noted.
How does Tower Automotive Non Union Retiree Veba Trust spend its money?
Tower Automotive Non Union Retiree Veba Trust directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Tower Automotive Non Union Retiree Veba Trust tax-deductible?
Tower Automotive Non Union Retiree Veba Trust is registered as a tax-exempt nonprofit (EIN: 205118544). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Tower Automotive Non Union Retiree Veba Trust compare to similar nonprofits?
With a transparency score of 65/100 (Good), Tower Automotive Non Union Retiree 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 Tower Automotive Non Union Retiree Veba Trust located?
Tower Automotive Non Union Retiree Veba Trust is headquartered in Lexington, Kentucky and files with the IRS under EIN 205118544. It is classified under NTEE code Y43.
How many years of IRS 990 filings does Tower Automotive Non Union Retiree Veba Trust have?
Tower Automotive Non Union Retiree 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 $917K in total revenue.
Is Tower Automotive Non Union Retiree Veba Trust a good charity?
As a VEBA trust, it's not a traditional charity but rather a mechanism to provide benefits. Its 'goodness' depends on its ability to meet its obligations to retirees, which is challenged by declining assets and expenses exceeding revenue.
Why are the assets declining?
Assets are declining because the trust's annual expenses consistently exceed its annual revenue. For instance, in 2023, expenses were $206,557 while revenue was only $77,866, requiring a draw from assets.
What is the primary purpose of this organization?
Based on its name and NTEE code (Y43 - Employee or Member Welfare Organizations), its primary purpose is likely to provide health or other welfare benefits to non-union retirees of Tower Automotive.
Filing History
IRS 990 filing history for Tower Automotive Non Union Retiree Veba Trust showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Tower Automotive Non Union Retiree Veba Trust's revenue has declined by 87.4%, moving from $618K to $78K. Total assets decreased by 62.4% over the same period, from $4.0M to $1.5M. Total functional expenses fell by 28.4%, from $288K to $207K. In its most recent filing year (2023), Tower Automotive Non Union Retiree Veba Trust reported a deficit of $129K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $78K | $207K | $1.5M | $0 | — | — |
| 2022 | $64K | $289K | $1.6M | $0 | — | — |
| 2021 | $67K | $277K | $2.0M | $0 | — | View 990 |
| 2020 | $73K | $278K | $2.2M | $21K | — | View 990 |
| 2019 | $62K | $201K | $2.3M | $10K | — | — |
| 2018 | $58K | $189K | $2.4M | $3K | — | View 990 |
| 2017 | $59K | $234K | $2.5M | $2K | — | — |
| 2016 | $55K | $241K | $2.6M | $5K | — | View 990 |
| 2015 | $68K | $290K | $2.8M | $3K | — | View 990 |
| 2014 | $7K | $279K | $3.1M | $14K | — | View 990 |
| 2013 | $9K | $305K | $3.4M | $14K | — | View 990 |
| 2012 | $28K | $370K | $3.7M | $99K | — | View 990 |
| 2011 | $618K | $288K | $4.0M | $12K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $78K, expenses of $207K, and assets of $1.5M (revenue +22.5% year-over-year).
- 2022: Revenue of $64K, expenses of $289K, and assets of $1.6M (revenue -5.3% year-over-year).
- 2021: Revenue of $67K, expenses of $277K, and assets of $2.0M (revenue -7.9% year-over-year).
- 2020: Revenue of $73K, expenses of $278K, and assets of $2.2M (revenue +17.4% year-over-year).
- 2019: Revenue of $62K, expenses of $201K, and assets of $2.3M (revenue +6.7% year-over-year).
- 2018: Revenue of $58K, expenses of $189K, and assets of $2.4M (revenue -1.4% year-over-year).
- 2017: Revenue of $59K, expenses of $234K, and assets of $2.5M (revenue +7.3% year-over-year).
- 2016: Revenue of $55K, expenses of $241K, and assets of $2.6M (revenue -19.0% year-over-year).
- 2015: Revenue of $68K, expenses of $290K, and assets of $2.8M (revenue +922.6% year-over-year).
- 2014: Revenue of $7K, expenses of $279K, and assets of $3.1M (revenue -23.2% year-over-year).
- 2013: Revenue of $9K, expenses of $305K, and assets of $3.4M (revenue -68.7% year-over-year).
- 2012: Revenue of $28K, expenses of $370K, and assets of $3.7M (revenue -95.5% year-over-year).
- 2011: Revenue of $618K, expenses of $288K, and assets of $4.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Tower Automotive Non Union Retiree Veba Trust:
Data Sources and Methodology
This transparency report for Tower Automotive Non Union Retiree 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.