Voluntary Employees Benefit Association Trust For Public is located in Spokane, WA. The organization was established in 1984. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Voluntary Employees Benefit Association Trust For Public is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2023, Voluntary Employees Benefit Association Trust For Public generated $101.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $77.9m during the year ending 06/2023. While expenses have increased by 7.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE VEBA TRUST PROVIDES HIGH-QUALITY, TAX ADVANTAGED HEALTH REIMBURSEMENT PLANS FOR PUBLIC EMPLOYEES IN WASHINGTON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THIS TRUST HOLDS THE ASSETS OF THE VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION TRUST PLAN FOR PUBLIC EMPLOYEES OF THE STATE OF WASHINGTON (THE PLAN). THE PLAN PROVIDES A METHOD OF FUNDING QUALIFIED HEALTH AND WELFARE COSTS TO ITS PARTICIPANTS AND THEIR DEPENDENTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Greg Baker Chairman | OfficerTrustee | 1 | $0 |
Amy Fleming Vice Chairman | OfficerTrustee | 1 | $0 |
Matthew Knott Secretary | OfficerTrustee | 1 | $0 |
Maria Breuder Treasurer | OfficerTrustee | 1 | $0 |
Cameron Grow Trustee | Trustee | 1 | $0 |
Shane Backlund Trustee | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Arthur J Gallagher & Co Consulting, Marketing And Client Svc,cus | 6/29/23 | $4,048,835 |
Onebridge Benefits Software Admin. Claims And Eligibility A | 6/29/23 | $2,377,132 |
Goldman Sachs Asset Management Investment Consulting Services | 6/29/23 | $186,355 |
Washington Trust Bank Wealth Management Investment,custodial,and Banking Service | 6/29/23 | $134,762 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $93,568,144 |
Investment income | $10,512,146 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$2,819,419 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $101,284,536 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $70,644,708 |
Compensation of current officers, directors, key employees. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $2,850,350 |
Fees for services: Legal | $69,641 |
Fees for services: Accounting | $33,800 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $340,776 |
Fees for services: Other | $3,445,388 |
Advertising and promotion | $0 |
Office expenses | $144,094 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $33,536 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $43,291 |
All other expenses | $0 |
Total functional expenses | $77,922,325 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $3,070,591 |
Savings and temporary cash investments | $2,042,989 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $4,903,597 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $31,313 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $378,878,642 |
Investments—other securities | $130,023,572 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $518,950,704 |
Accounts payable and accrued expenses | $1,163,058 |
Grants payable | $0 |
Deferred revenue | $1,147,096 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $2,310,154 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $516,640,550 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $518,950,704 |