Washington Gas Light Company Management Veba Tr
Washington Gas Light Company Management Veba Tr consistently maintains substantial assets and positive net income with no reported officer compensation.
EIN: 137024160 · Washington, DC · Updated: 2026-03-28
Is Washington Gas Light Company Management Veba Tr Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Washington Gas Light Company Management Veba Tr directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Washington Gas Light Company Management Veba Tr
Washington Gas Light Company Management Veba Tr (EIN: 137024160) is a nonprofit organization based in Washington, DC. The organization reported total revenue of $236.3M and total assets of $234.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Washington Gas Light Company Management Veba Tr's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Washington Gas Light Company Management Veba Tr is a major nonprofit that has been operating for 31 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of -3.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $11.3M |
| Total Expenses | $8.9M |
| Surplus / Deficit | +$2.4M |
| Total Assets | $279.0M |
| Total Liabilities | $1.2M |
| Net Assets | $277.8M |
| Operating Margin | 21.2% |
| Debt-to-Asset Ratio | 0.4% |
| Months of Reserves | 375.1 months |
Financial Health Grade: A
In 2023, Washington Gas Light Company Management Veba Tr reported a surplus of $2.4M with revenue exceeding expenses, holds 375.1 months of operating reserves (strong position), has a debt-to-asset ratio of 0.4% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), Washington Gas Light Company Management Veba Tr's revenue has declined at a compound annual growth rate (CAGR) of -3.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -29.5% | -38.1% | +13.2% |
| 2022 | -38.6% | -37.5% | -26.1% |
| 2021 | +0.5% | +85.7% | +4.7% |
| 2020 | +42.8% | +2.4% | +13.7% |
| 2019 | -32.3% | -32.0% | +20.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1995 |
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 Washington Gas Light Company Management Veba Tr 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, Washington Gas Light Company Management Veba Tr 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 $2.4M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.4%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive compensation from the organization, which is highly unusual for an entity of this size and financial activity. This suggests either a volunteer leadership structure or that compensation is handled through an external entity, which would require further investigation for full transparency.
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 Washington Gas Light Company Management Veba Tr's IRS 990 filings:
- Lack of NTEE code makes mission and comparative analysis difficult
- Consistent 0% officer compensation is unusual for an organization of this scale and warrants further inquiry into executive oversight and compensation structures.
Strengths
The following positive indicators were identified for Washington Gas Light Company Management Veba Tr:
- Strong financial health with consistent positive net income (e.g., $2,402,999 surplus in 2023)
- Substantial and growing asset base, reaching $279,007,608 in 2023, indicating long-term stability
- Low liabilities relative to assets, suggesting strong financial solvency
- Consistent reporting of financial data over many years, indicating transparency in financial operations
Frequently Asked Questions about Washington Gas Light Company Management Veba Tr
Is Washington Gas Light Company Management Veba Tr a legitimate charity?
Based on AI analysis of IRS 990 filings, Washington Gas Light Company Management Veba Tr (EIN: 137024160) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Washington Gas Light Company Management Veba Tr spend its money?
Washington Gas Light Company Management Veba Tr directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Washington Gas Light Company Management Veba Tr tax-deductible?
Washington Gas Light Company Management Veba Tr is registered as a tax-exempt nonprofit (EIN: 137024160). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What is the primary purpose or mission of the Washington Gas Light Company Management Veba Tr?
The NTEE code is unknown, and the filings do not explicitly state the mission. Given the name 'VEBA Tr' (Voluntary Employees' Beneficiary Association Trust), it is likely established to provide benefits to employees, but specific details are not available in the provided data.
How does the organization manage its significant assets, which reached $279,007,608 in 2023?
The filings indicate substantial assets and consistent revenue generation, suggesting active investment or management of funds. However, the specific investment strategies or asset allocation details are not provided in this summary.
Why is officer compensation consistently reported as 0%?
The consistent 0% officer compensation is highly unusual for an organization with such significant financial activity. This could mean that officers are volunteers, compensated by a related entity, or that the reporting structure for compensation is different, requiring further clarification from the organization's detailed filings.
What are the specific program expenses that account for the majority of the organization's spending?
While the overall expenses are provided (e.g., $8,926,642 in 2023), the detailed breakdown of these expenses into program, administrative, and fundraising categories is not available in the provided summary. Without this, a precise understanding of program spending is limited.
Filing History
IRS 990 filing history for Washington Gas Light Company Management Veba Tr showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Washington Gas Light Company Management Veba Tr's revenue has declined by 39%, moving from $18.6M to $11.3M. Total assets increased by 149.6% over the same period, from $111.8M to $279.0M. Total functional expenses fell by 16%, from $10.6M to $8.9M. In its most recent filing year (2023), Washington Gas Light Company Management Veba Tr reported a surplus of $2.4M, with revenue exceeding expenses. The organization holds $1.2M in liabilities against $279.0M in assets (debt-to-asset ratio: 0.4%), resulting in net assets of $277.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $11.3M | $8.9M | $279.0M | $1.2M | — | — |
| 2022 | $16.1M | $14.4M | $246.5M | $787K | — | View 990 |
| 2021 | $26.2M | $23.1M | $333.3M | $497K | — | View 990 |
| 2020 | $26.1M | $12.4M | $318.2M | $609K | — | View 990 |
| 2019 | $18.2M | $12.1M | $279.9M | $759K | — | — |
| 2018 | $26.9M | $17.8M | $233.2M | $756K | — | View 990 |
| 2017 | $14.7M | $13.5M | $253.9M | $559K | — | View 990 |
| 2016 | $18.6M | $10.4M | $225.1M | $604K | — | View 990 |
| 2015 | $19.7M | $10.7M | $205.1M | $637K | — | View 990 |
| 2014 | $22.9M | $13.5M | $208.0M | $1.8M | — | View 990 |
| 2013 | $21.3M | $12.2M | $178.5M | $1.2M | — | View 990 |
| 2012 | $20.7M | $13.4M | $155.1M | $545K | — | View 990 |
| 2011 | $34.4M | $14.7M | $136.4M | $787K | — | View 990 |
| 2010 | $18.6M | $10.6M | $111.8M | $1.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $11.3M, expenses of $8.9M, and assets of $279.0M (revenue -29.5% year-over-year).
- 2022: Revenue of $16.1M, expenses of $14.4M, and assets of $246.5M (revenue -38.6% year-over-year).
- 2021: Revenue of $26.2M, expenses of $23.1M, and assets of $333.3M (revenue +0.5% year-over-year).
- 2020: Revenue of $26.1M, expenses of $12.4M, and assets of $318.2M (revenue +42.8% year-over-year).
- 2019: Revenue of $18.2M, expenses of $12.1M, and assets of $279.9M (revenue -32.3% year-over-year).
- 2018: Revenue of $26.9M, expenses of $17.8M, and assets of $233.2M (revenue +83.8% year-over-year).
- 2017: Revenue of $14.7M, expenses of $13.5M, and assets of $253.9M (revenue -21.1% year-over-year).
- 2016: Revenue of $18.6M, expenses of $10.4M, and assets of $225.1M (revenue -5.5% year-over-year).
- 2015: Revenue of $19.7M, expenses of $10.7M, and assets of $205.1M (revenue -14.1% year-over-year).
- 2014: Revenue of $22.9M, expenses of $13.5M, and assets of $208.0M (revenue +7.5% year-over-year).
- 2013: Revenue of $21.3M, expenses of $12.2M, and assets of $178.5M (revenue +3.0% year-over-year).
- 2012: Revenue of $20.7M, expenses of $13.4M, and assets of $155.1M (revenue -40.0% year-over-year).
- 2011: Revenue of $34.4M, expenses of $14.7M, and assets of $136.4M (revenue +85.5% year-over-year).
- 2010: Revenue of $18.6M, expenses of $10.6M, and assets of $111.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Washington Gas Light Company Management Veba Tr:
Data Sources and Methodology
This transparency report for Washington Gas Light Company Management 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.