Rhode Island Energy Union Retiree Health and Life VEBA Trust

EIN: 877003103 Employment

PITTSBURGH, PA

Total Revenue
$4,717,802
Total Expenses
$780,870
Total Assets
$101,884,015
Net Assets
$100,718,006
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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
2022
Legal Domicile
PA
Principal Officer
THE BANK OF NEW YORK MELLON
Phone
4122342242
Tax Period
2023-01-01 to 2023-12-31

Rhode Island Energy Union Retiree Health and Life VEBA Trust, founded in 2022, is a community nonprofit in the Employment sector that reported $4.7M in total revenue in fiscal year 2023. Revenue fell 95% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $3.9M, a strong 83% operating margin.

Mission

PAYMENT OF HEALTH CARE AND LIFE INSURANCE TO OR FOR ELIGIBLE PARTICIPANTS AND THEIR COVERED DEPENDENTS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $701,849
Investment Income $4,015,953
Other Revenue $0
TOTAL REVENUE $4,717,802

Expense Breakdown

Grants Paid $0
Salaries & Benefits $7,726
Fundraising Expenses $0
Other Expenses $183,182
TOTAL EXPENSES $780,870

Year-over-Year Comparison

2023 2022 Change
Revenue $4,717,802 $96,790,524 -1.0%
Expenses $780,870 $9,450 +81.6%
Net Income $3,936,932 $96,781,074 -1.0%
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
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
0
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
THE BANK OF NEW YORK MELLON TRUSTEE (SEE SCHEDULE O) 0.0
$7,726 $0 $7,726
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 $4,717,802 $780,870 $101,884,015 $3,936,932
2022 $96,790,524 $9,450 $96,781,074 $96,781,074
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