VEBA FOR RETIREES OF WCI STEEL (EIN 341600163) - 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

2006

Legal Domicile

Phone

4122012242

Tax Period

2024-01-01 to 2024-12-31

VEBA FOR RETIREES OF WCI STEEL, founded in 2006, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2024. Expenses of $1.9M exceeded revenue, resulting in a 57% operating deficit.

Mission

THE ENTITY IS A VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION THAT PROVIDES CERTAIN POST-EMPLOYMENT HEALTH AND LIFE INSURANCE BENEFITS TO CERTAIN RETIRED HOURLY EMPLOYEES OF WCI STEEL, INC., SEVERSTAL WARREN, INC. AND RG STEEL, LLC AND THEIR COVERAGE-ELIGIBLE DEPENDENTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,095,658

Investment Income $105,032

Other Revenue $0

TOTAL REVENUE $1,200,690

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,795

Fundraising Expenses $0

Program Expenses $1,760,644

Other Expenses $115,275

TOTAL EXPENSES $1,882,714

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,200,690	$1,234,428	0.0%
Expenses	$1,882,714	$2,141,440	-0.1%
Net Income	$-682,024	$-907,012	-0.2%

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

Employees

N/A

Volunteers

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
CHAD APALISKI	COMMITTEE MEMBER	1.00	Director	$0	$0	$0
DENNY BRUBAKER	COMMITTEE MEMBER	1.00	Director	$0	$0	$0
JIM SULLIVAN	COMMITTEE MEMBER	1.00	Director	$0	$0	$0
N/A	TRUSTEE	1.00		$0	$6,795	$6,795

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	$1,200,690	$1,882,714	$5,562,946	$-682,024
2023	$1,234,428	$2,141,440	$6,102,400	$-907,012
2022	$1,332,585	$2,261,896	$6,751,865	$-929,311
2021	$1,413,166	$1,556,933	$8,769,870	$-143,767
2020	$1,522,408	$2,231,698	$9,162,170	$-709,290
2019	$2,637,546	$2,885,640	$9,647,007	$-248,094
2018	$1,699,413	$2,904,630	$9,531,180	$-1,205,217

VEBA FOR RETIREES OF WCI STEEL