UPPER PENINSULA POWER COMPANY UNION VEBA TRUST (EIN 471412336) - 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

2014

Legal Domicile

Principal Officer

NICHOLAS KATES

Phone

9062321425

Tax Period

2023-01-01 to 2023-12-31

UPPER PENINSULA POWER COMPANY UNION VEBA TRUST, founded in 2014, is a small nonprofit in the Mutual Benefit sector that reported $707K in total revenue in fiscal year 2023. Revenue fell 31% from the prior year — a significant decline worth monitoring. Net assets of $26.0M represent 441 months of operating reserves.

Mission

TO PROVIDE MEDICAL, DENTAL, AND LIFE INS BENEFITS TO CERTAIN RETIREES OF UPPER PENINSULA POWER CO.

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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 $258,911

Investment Income $448,514

Other Revenue $0

TOTAL REVENUE $707,425

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $764,947

Other Expenses $82,598

TOTAL EXPENSES $764,947

Year-over-Year Comparison

	2023	2022	Change
Revenue	$707,425	$1,025,350	-0.3%
Expenses	$764,947	$909,264	-0.2%
Net Income	$-57,522	$116,086	-1.5%

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
N/A	TRUSTEE	0.00		$0	$0	$0

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	$707,425	$764,947	$25,995,234	$-57,522
2022	$1,025,350	$909,264	$23,997,690	$116,086
2021	$1,405,120	$897,912	$30,043,948	$507,208
2020	$1,746,035	$1,164,443	$28,091,351	$581,592
2019	$1,294,861	$1,307,879	$25,370,288	$-13,018
2018	$986,682	$1,344,663	$22,383,522	$-357,981

UPPER PENINSULA POWER COMPANY UNION VEBA TRUST