Veba Health Insurance Trust For Non Union Employees Of Keyspan
Veba Health Insurance Trust consistently expends more than its annual revenue, drawing from a substantial asset base to cover health benefits.
EIN: 134009945 · Pittsburgh, PA · NTEE: Y43 · Updated: 2026-03-28
Is Veba Health Insurance Trust For Non Union Employees Of Keyspan Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Veba Health Insurance Trust For Non Union Employees Of Keyspan directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Veba Health Insurance Trust For Non Union Employees Of Keyspan
Veba Health Insurance Trust For Non Union Employees Of Keyspan (EIN: 134009945) is a nonprofit organization based in Pittsburgh, PA, classified under NTEE code Y43. The organization reported total revenue of $231.4M and total assets of $184.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Veba Health Insurance Trust For Non Union Employees Of Keyspan's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Veba Health Insurance Trust For Non Union Employees Of Keyspan is a major nonprofit that has been operating for 26 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of -2.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $24.5M |
| Total Expenses | $35.6M |
| Surplus / Deficit | $-11,137,471 |
| Total Assets | $156.6M |
| Net Assets | $156.6M |
| Operating Margin | -45.5% |
| Months of Reserves | 52.7 months |
Financial Health Grade: B
In 2023, Veba Health Insurance Trust For Non Union Employees Of Keyspan reported a deficit of $11.1M with expenses exceeding revenue, holds 52.7 months of operating reserves (strong position).
Financial Trends
Over 14 years of filings (2010–2023), Veba Health Insurance Trust For Non Union Employees Of Keyspan's revenue has declined at a compound annual growth rate (CAGR) of -2.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +704.2% | +26.3% | +126.3% |
| 2022 | -71.1% | -0.1% | -25.2% |
| 2021 | +123.7% | +10.6% | -16.0% |
| 2020 | -34.8% | -7.0% | -13.7% |
| 2019 | -54.5% | +9.9% | -11.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2000 |
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 Veba Health Insurance Trust For Non Union Employees Of Keyspan 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, Veba Health Insurance Trust For Non Union Employees Of Keyspan 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 $11.1M, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive compensation from the trust, which is highly favorable for a trust of this size with assets exceeding $150 million.
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 Veba Health Insurance Trust For Non Union Employees Of Keyspan's IRS 990 filings:
- Consistent annual expenses exceeding reported revenue, indicating reliance on asset drawdowns.
Strengths
The following positive indicators were identified for Veba Health Insurance Trust For Non Union Employees Of Keyspan:
- Zero officer compensation reported across all filings, indicating high financial integrity.
- Substantial asset base (e.g., $156,551,799 in 2023) provides financial stability for beneficiaries.
- Clear mission as a VEBA for non-union employees of Keyspan, suggesting focused program delivery.
Frequently Asked Questions about Veba Health Insurance Trust For Non Union Employees Of Keyspan
Is Veba Health Insurance Trust For Non Union Employees Of Keyspan a legitimate charity?
Based on AI analysis of IRS 990 filings, Veba Health Insurance Trust For Non Union Employees Of Keyspan (EIN: 134009945) some concerns. Mission Score: 90/100. 1 red flag identified, 3 strengths noted.
How does Veba Health Insurance Trust For Non Union Employees Of Keyspan spend its money?
Veba Health Insurance Trust For Non Union Employees Of Keyspan directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Veba Health Insurance Trust For Non Union Employees Of Keyspan tax-deductible?
Veba Health Insurance Trust For Non Union Employees Of Keyspan is registered as a tax-exempt nonprofit (EIN: 134009945). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Veba Health Insurance Trust fund its operations given that expenses frequently exceed revenue?
The trust appears to fund its operations and benefit disbursements by drawing from its substantial asset base, which was $156,551,799 in 2023. This is typical for a VEBA, where contributions are made over time to build a reserve for future benefit payments.
What is the source of the significant fluctuations in annual revenue?
The revenue fluctuations (e.g., $24,480,894 in 2023 vs. $3,044,133 in 2022) likely reflect varying employer contributions, investment income, or other funding mechanisms specific to the trust's design, which can be irregular year-to-year.
Are there any concerns about the trust's long-term solvency given the consistent deficit spending?
While expenses frequently exceed annual revenue, the trust maintains a significant asset base (e.g., $156,551,799 in 2023). This suggests a planned draw-down strategy for benefit payments, and the solvency would depend on actuarial projections and future contribution rates, which are not detailed in the provided data.
Filing History
IRS 990 filing history for Veba Health Insurance Trust For Non Union Employees Of Keyspan showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Veba Health Insurance Trust For Non Union Employees Of Keyspan's revenue has declined by 26.1%, moving from $33.1M to $24.5M. Total assets increased by 35.2% over the same period, from $115.8M to $156.6M. Total functional expenses rose by 29%, from $27.6M to $35.6M. In its most recent filing year (2023), Veba Health Insurance Trust For Non Union Employees Of Keyspan reported a deficit of $11.1M, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $24.5M | $35.6M | $156.6M | $0 | — | — |
| 2022 | $3.0M | $28.2M | $69.2M | $1.7M | — | View 990 |
| 2021 | $10.5M | $28.2M | $92.5M | $0 | — | View 990 |
| 2020 | $4.7M | $25.5M | $110.1M | $0 | — | View 990 |
| 2019 | $7.2M | $27.5M | $127.6M | $0 | — | — |
| 2018 | $15.9M | $25.0M | $144.4M | $0 | — | View 990 |
| 2017 | $28.3M | $28.1M | $155.3M | $0 | — | View 990 |
| 2016 | $30.4M | $28.2M | $157.5M | $0 | — | View 990 |
| 2015 | $34.8M | $30.1M | $157.2M | $0 | — | View 990 |
| 2014 | $39.2M | $25.9M | $156.8M | $212K | — | View 990 |
| 2013 | $54.1M | $28.6M | $145.7M | $0 | — | View 990 |
| 2012 | $38.7M | $31.9M | $121.7M | $0 | — | View 990 |
| 2011 | $28.2M | $31.4M | $114.4M | $0 | — | View 990 |
| 2010 | $33.1M | $27.6M | $115.8M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $24.5M, expenses of $35.6M, and assets of $156.6M (revenue +704.2% year-over-year).
- 2022: Revenue of $3.0M, expenses of $28.2M, and assets of $69.2M (revenue -71.1% year-over-year).
- 2021: Revenue of $10.5M, expenses of $28.2M, and assets of $92.5M (revenue +123.7% year-over-year).
- 2020: Revenue of $4.7M, expenses of $25.5M, and assets of $110.1M (revenue -34.8% year-over-year).
- 2019: Revenue of $7.2M, expenses of $27.5M, and assets of $127.6M (revenue -54.5% year-over-year).
- 2018: Revenue of $15.9M, expenses of $25.0M, and assets of $144.4M (revenue -44.0% year-over-year).
- 2017: Revenue of $28.3M, expenses of $28.1M, and assets of $155.3M (revenue -6.8% year-over-year).
- 2016: Revenue of $30.4M, expenses of $28.2M, and assets of $157.5M (revenue -12.7% year-over-year).
- 2015: Revenue of $34.8M, expenses of $30.1M, and assets of $157.2M (revenue -11.1% year-over-year).
- 2014: Revenue of $39.2M, expenses of $25.9M, and assets of $156.8M (revenue -27.6% year-over-year).
- 2013: Revenue of $54.1M, expenses of $28.6M, and assets of $145.7M (revenue +40.0% year-over-year).
- 2012: Revenue of $38.7M, expenses of $31.9M, and assets of $121.7M (revenue +37.1% year-over-year).
- 2011: Revenue of $28.2M, expenses of $31.4M, and assets of $114.4M (revenue -14.9% year-over-year).
- 2010: Revenue of $33.1M, expenses of $27.6M, and assets of $115.8M.
Data Sources and Methodology
This transparency report for Veba Health Insurance Trust For Non Union Employees Of Keyspan 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.