ESSENTIAL POWER LLC VEBA HEALTH SAVINGS TRUST

EIN: 821153154 Mutual Benefit

CHARLOTTE, NC

Total Revenue
$22,200
Total Expenses
$58,833
Total Assets
$662,787
Net Assets
$662,787
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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
2016
Legal Domicile
NJ
Principal Officer
CHARLES SCHWAB BANK
Phone
7046722706
Tax Period
2024-01-01 to 2024-12-31

ESSENTIAL POWER LLC VEBA HEALTH SAVINGS TRUST, founded in 2016, is a micro nonprofit in the Mutual Benefit sector that reported $22K in total revenue in fiscal year 2024. Revenue fell 29% from the prior year — a significant decline worth monitoring. Expenses of $59K exceeded revenue, resulting in a 165% operating deficit.

Mission

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 $0
Investment Income $22,085
Other Revenue $115
TOTAL REVENUE $22,200

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $6,810
TOTAL EXPENSES $58,833

Year-over-Year Comparison

2024 2023 Change
Revenue $22,200 $31,465 -0.3%
Expenses $58,833 $122,836 -0.5%
Net Income $-36,633 $-91,371 -0.6%
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
N/A TRUSTEE 1.00
$0 $1,000 $1,000
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 $22,200 $58,833 $662,787 $-36,633
2023 $31,465 $122,836 $669,694 $-91,371
2022 $75,540 $113,774 $730,154 $-38,234
2021 $66,393 $164,410 $872,215 $-98,017
2020 $42,239 $62,989 $932,032 $-20,750
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