Rhode Island Energy Union Retiree … - Form 990 Financial Data

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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

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.

Program Service Accomplishments

Program 1

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%)

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

Governance

Voting Members

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

Total Directors

Key Employees

Highest Compensated

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

Rhode Island Energy Union Retiree Health and Life VEBA Trust