Co of Riverside CA VEBA Post-Employment Health Savings Plan Trust

EIN: 026162571 Mutual Benefit

Spokane, WA

Total Revenue
$20,553,250
Total Expenses
$10,420,001
Total Assets
$86,130,318
Net Assets
$84,836,773
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2002
Legal Domicile
CA
Principal Officer
Steven R Sherman
Phone
5098385571
Tax Period
2023-01-01 to 2023-12-31

Co of Riverside CA VEBA Post-Employment Health Savings Plan Trust, founded in 2002, is a mid-sized nonprofit in the Mutual Benefit sector that reported $20.6M in total revenue in fiscal year 2023. Revenue surged 90% from the prior year, signaling strong growth momentum. The organization ran a surplus of $10.1M, a strong 49% operating margin.

Mission

To provide participants and their dependents with post-employment medical benefits not provided by Medicare or any other medical insurance contract or plan.

Program Service Accomplishments

Program 1

This trust holds the assets of the County of Riverside, California Voluntary Employees' Beneficiary Association Post-Employment Health Savings Plan. The Plan is a defined contribution, health and...

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This trust holds the assets of the County of Riverside, California Voluntary Employees' Beneficiary Association Post-Employment Health Savings Plan. The Plan is a defined contribution, health and welfare benefit plan commonly referred to as a "health reimbursement arrangement" plan. The Plan is designed to be a tax-free account for participants to pay post-employment medical benefits not provided by Medicare, or any other medical insurance contract or plan. The payments or reimbursements may not be made for items paid or payable by any other insurance contract or plan, or for expenses that are deducted by the participant under any Section of the Internal Revenue Code. The aforementioned expenses must be expenses of the participants, the spouses of the participants and/or the dependents of the participants.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $14,290,930
Investment Income $6,262,320
Other Revenue $0
TOTAL REVENUE $20,553,250

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $223,897
TOTAL EXPENSES $10,420,001

Year-over-Year Comparison

2023 2022 Change
Revenue $20,553,250 $10,829,852 +0.9%
Expenses $10,420,001 $9,848,725 +0.1%
Net Income $10,133,249 $981,127 +9.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
1
Independent Members
N/A
Employees
N/A
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
0
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A Trustee 2.00
$0 $0 $11,618
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $20,553,250 $10,420,001 $86,130,318 $10,133,249
2022 $10,829,852 $9,848,725 $74,727,773 $981,127
2021 $17,907,291 $8,611,902 $74,536,004 $9,295,389
2020 $22,788,295 $8,699,200 $65,055,591 $14,089,095
2019 $12,699,209 $8,992,393 $54,634,941 $3,706,816
2018 $13,551,492 $8,375,166 $47,537,149 $5,176,326
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