LOCKHEED MARTIN CORPORATION BENEFIT TRUST - VEBA 1 (EIN 521610424) - 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

1988

Legal Domicile

Principal Officer

MICHAEL SCHAFFER

Phone

3015717155

Tax Period

2023-01-01 to 2023-12-31

LOCKHEED MARTIN CORPORATION BENEFIT TRUST - VEBA 1, founded in 1988, is a community nonprofit that reported $1.7M in total revenue in fiscal year 2023. Revenue fell 81% from the prior year — a significant decline worth monitoring. Expenses of $5.3M exceeded revenue, resulting in a 209% operating deficit.

Mission

THE TRUST IS A SECTION 501(C)(9) VEBA TRUST WHOSE PURPOSE IS TO PROVIDE A SOURCE OF FUNDING FOR MEDICAL BENEFIT COVERAGE AND FOR PAYMENT OF BENEFITS UNDER TWO BENEFIT PLANS.

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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 $0

Investment Income $1,563,607

Other Revenue $139,386

TOTAL REVENUE $1,702,993

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,631

Fundraising Expenses $0

Other Expenses $20,437

TOTAL EXPENSES $5,254,779

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,702,993	$8,982,664	-0.8%
Expenses	$5,254,779	$8,141,960	-0.4%
Net Income	$-3,551,786	$840,704	-5.2%

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

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	1.00		$5,631	$0	$5,631

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	$1,702,993	$5,254,779	$13,536,106	$-3,551,786
2022	$8,982,664	$8,141,960	$17,090,287	$840,704
2021	$7,125,767	$13,110,460	$16,282,689	$-5,984,693
2020	$12,434,848	$9,472,305	$23,333,789	$2,962,543

LOCKHEED MARTIN CORPORATION BENEFIT TRUST - VEBA 1