VEBA Trust for Public Employees in the State of WA (EIN 911214669) - 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

1983

Legal Domicile

Principal Officer

Greg Baker

Phone

5098385571

Tax Period

2024-07-01 to 2025-06-30

VEBA Trust for Public Employees in the State of WA, founded in 1983, is a major nonprofit in the Mutual Benefit sector that reported $129.4M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $38.8M, a strong 30% operating margin.

Mission

The VEBA Trust provides high-quality, tax advantaged health reimbursement plans for public employees in Washington.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $100,468,060

Investment Income $28,741,537

Other Revenue $157,369

TOTAL REVENUE $129,366,966

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $8,034,119

TOTAL EXPENSES $90,593,735

Year-over-Year Comparison

	2024	2023	Change
Revenue	$129,366,966	$112,196,106	+0.2%
Expenses	$90,593,735	$82,385,972	+0.1%
Net Income	$38,773,231	$29,810,134	+0.3%

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
Greg Baker	Chair	1.00	Officer Director	$0	$0	$0
Mathew Knott	Vice Chair	1.00	Officer Director	$0	$0	$0
Shane Backlund	Secretary	1.00	Officer Director	$0	$0	$0
Maria Breuder	Treasurer	1.00	Officer Director	$0	$0	$0
Cameron Grow	Trustee (resigned)	1.00	Director	$0	$0	$0
Elaine Thompson	Trustee	1.00	Director	$0	$0	$0
Heather Renner	Trustee	1.00	Director	$0	$0	$0

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
2025	$129,366,966	$90,593,735	$651,176,790	$38,773,231
2024	$112,196,106	$82,385,972	$583,199,907	$29,810,134
2023	$101,284,536	$77,922,325	$518,950,704	$23,362,211
2022	$112,351,417	$73,041,112	$468,576,735	$39,310,305
2021	$137,599,743	$66,327,327	$491,736,019	$71,272,416
2020	$104,739,555	$55,655,865	$401,674,646	$49,083,690
2019	$82,405,215	$52,567,987	$347,076,174	$29,837,228

VEBA Trust for Public Employees in the State of WA