CITY OF ANNAPOLIS VEBA Health Savings Trust

EIN: 473042220 Mutual Benefit

Annapolis, MD

Total Revenue
$1,019,704
Total Expenses
$217,332
Total Assets
$7,756,232
Net Assets
$7,756,232
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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
MD
Principal Officer
Hand Benefit Trust Co
Phone
4102637998
Tax Period
2024-01-01 to 2024-12-31

CITY OF ANNAPOLIS VEBA Health Savings Trust, founded in 2014, is a community nonprofit in the Mutual Benefit sector that reported $1.0M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $802K, a strong 79% operating margin.

Mission

A Voluntary Employees' Beneficiary Association (VEBA) to fund reimbursement of medical expenses under a health reimbursement arrangement.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $668,109
Investment Income $351,595
Other Revenue $0
TOTAL REVENUE $1,019,704

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $166,920
Other Expenses $50,412
TOTAL EXPENSES $217,332

Year-over-Year Comparison

2024 2023 Change
Revenue $1,019,704 $885,446 +0.2%
Expenses $217,332 $215,897 +0.0%
Net Income $802,372 $669,549 +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

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Governance

Voting Members
1
Independent Members
1
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
Hand Benefit Trust Co Trustee 1.0
$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 $1,019,704 $217,332 $7,756,232 $802,372
2023 $885,446 $215,897 $6,512,535 $669,549
2022 $706,201 $194,514 $5,198,941 $511,687
2021 $1,333,470 $141,838 $5,707,001 $1,191,632
2020 $690,739 $105,200 $4,602,230 $585,539
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