Granite State Electric Co Post Ret Bnft Niagra Mohawk Represented Health VEBA (EIN 133751316) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1993

Legal Domicile

Principal Officer

THE BANK OF NEW YORK MELLON

Phone

4122342242

Tax Period

2023-01-01 to 2023-12-31

Granite State Electric Co Post Ret Bnft Niagra Mohawk Represented Health VEBA, founded in 1993, is a mid-sized nonprofit that reported $38.2M in total revenue in fiscal year 2023. Revenue fell 71% from the prior year — a significant decline worth monitoring. Expenses of $59.7M exceeded revenue, resulting in a 56% operating deficit.

Mission

POST RETIREMENT HEALTH BENEFITS FOR REPRESENTED EMPLOYEES

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $10,750,033

Investment Income $27,335,847

Other Revenue $79,255

TOTAL REVENUE $38,165,135

Expense Breakdown

Grants Paid $0

Salaries & Benefits $24,812

Fundraising Expenses $0

Other Expenses $1,782,235

TOTAL EXPENSES $59,674,487

Year-over-Year Comparison

	2023	2022	Change
Revenue	$38,165,135	$133,623,205	-0.7%
Expenses	$59,674,487	$60,244,049	0.0%
Net Income	$-21,509,352	$73,379,156	-1.3%

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

Governance

Voting Members

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THE BANK OF NEW YORK MELLON	TRUSTEE (SEE SCHEDULE O)	0.0		$24,812	$0	$24,812

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	$38,165,135	$59,674,487	$1,162,414,827	$-21,509,352
2022	$133,623,205	$60,244,049	$1,184,411,072	$73,379,156
2021	$332,837,993	$49,411,649	$1,127,925,500	$283,426,344
2020	$52,760,061	$55,096,077	$827,032,478	$-2,336,016
2019	$40,736,002	$51,900,115	$828,980,632	$-11,164,113
2018	$78,809,198	$49,075,545	$839,092,543	$29,733,653

Granite State Electric Co Post Ret Bnft Niagra Mohawk Represented Health VEBA