BAE SYSTEMS WELFARE BENEFIT TRUST

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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

1992

Legal Domicile

Principal Officer

JODI COULTER

Phone

5714616000

Tax Period

2023-01-01 to 2023-12-31

BAE SYSTEMS WELFARE BENEFIT TRUST, founded in 1992, is a major nonprofit in the Mutual Benefit sector that reported $451.8M in total revenue in fiscal year 2023.

Mission

TO FUND WELFARE BENEFITS PURSUANT TO IRC SECTION 501(C)(9).

Program Service Accomplishments

Program 1

Expenses: $464,616,818 Revenue: $450,582,350

THE EXEMPT PURPOSE OF THE TRUST IS TO FUND THE PAYMENT OF HEALTH AND WELFARE BENEFITS. THE AGGREGATE EXPENSE AMOUNT WAS PRIMARILY FOR THE PAYMENT OF HEALTH AND WELFARE BENEFITS, WITH THE REMAINDER...

THE EXEMPT PURPOSE OF THE TRUST IS TO FUND THE PAYMENT OF HEALTH AND WELFARE BENEFITS. THE AGGREGATE EXPENSE AMOUNT WAS PRIMARILY FOR THE PAYMENT OF HEALTH AND WELFARE BENEFITS, WITH THE REMAINDER BEING PAYMENT OF ADMINISTRATIVE EXPENSES RELATED TO THE TRUST'S EXEMPT PURPOSE. THE REVENUE RECEIVED BY THE TRUST WAS PRIMARILY EMPLOYER AND PARTICIPANT CONTRIBUTIONS, WITH THE REMAINDER BEING INVESTMENT INCOME, REBATES, AND REFUNDS FROM INSURANCE CARRIERS, AND TRANSFERS FROM OTHER TRUSTS TO FUND PLAN LIABILITIES TRANSFERRED TO THIS TRUST.

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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 $407,281,467

Investment Income $1,241,470

Other Revenue $43,300,883

TOTAL REVENUE $451,823,820

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,700

Fundraising Expenses $0

Program Expenses $464,616,818

Other Expenses $4,895,088

TOTAL EXPENSES $469,517,606

Year-over-Year Comparison

	2023	2022	Change
Revenue	$451,823,820	$418,677,030	+0.1%
Expenses	$469,517,606	$420,965,346	+0.1%
Net Income	$-17,693,786	$-2,288,316	+6.7%

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
JP MORGAN CHASE BANK NA	TRUSTEE	3.0		$5,700	$0	$5,700

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	$451,823,820	$469,517,606	$36,887,339	$-17,693,786
2022	$418,677,030	$420,965,346	$54,581,125	$-2,288,316
2021	$370,352,777	$368,710,796	$56,869,441	$1,641,981
2020	$377,859,170	$366,469,320	$32,861,780	$11,389,850
2019	$375,571,809	$366,961,383	$21,471,930	$8,610,426
2018	$329,096,508	$334,071,489	$12,861,504	$-4,974,981