Duke Energy Corp Welfare Benefits Trust VEBA I (EIN 436237050) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

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

Duke Energy Corp Welfare Benefits Trust VEBA I, founded in 1993, is a major nonprofit that reported $146.1M in total revenue in fiscal year 2023. Revenue fell 64% from the prior year — a significant decline worth monitoring. Expenses of $195.7M exceeded revenue, resulting in a 34% operating deficit.

Mission

BENEFITS TRUST FOR MEDICAL, DENTAL AND BASIC LIFE PLAN ASSETS

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $144,403,478

Investment Income $913,317

Other Revenue $736,214

TOTAL REVENUE $146,053,009

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,370

Fundraising Expenses $0

Program Expenses $0

Other Expenses $9,323,412

TOTAL EXPENSES $195,686,306

Year-over-Year Comparison

	2023	2022	Change
Revenue	$146,053,009	$409,904,542	-0.6%
Expenses	$195,686,306	$413,079,517	-0.5%
Net Income	$-49,633,297	$-3,174,975	+14.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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
Bank of New York Mellon	TRUSTEE (SEE SCHEDULE O)	0.0		$10,370	$0	$10,370

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	$146,053,009	$195,686,306	$1,612,332	$-49,633,297
2022	$409,904,542	$413,079,517	$51,245,629	$-3,174,975
2021	$421,418,406	$418,738,003	$57,640,159	$2,680,403
2020	$403,322,768	$396,534,362	$65,593,893	$6,788,406
2019	$431,731,523	$425,082,319	$67,784,251	$6,649,204
2018	$414,489,294	$421,825,316	$65,964,521	$-7,336,022

Duke Energy Corp Welfare Benefits Trust VEBA I