SNOHOMISH COUNTY PUD VOLUNTARY BEN… - 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

2001

Legal Domicile

Principal Officer

SHAWN HUNSTOCK

Phone

4257838452

Tax Period

2024-01-01 to 2024-12-31

SNOHOMISH COUNTY PUD VOLUNTARY BENEFICIARY ASSN, founded in 2001, is a mid-sized nonprofit in the Mutual Benefit sector that reported $32.4M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

THE SOLE PURPOSE OF VEBA IS TO PROVIDE FOR THE PAYMENT OF BENEFITS UNDER SPECIFIC DISTRICT WELFARE BENEFIT PLANS (LIFE, SICK, ACCIDENT, OR OTHER BENEFITS FOR ELIGIBLE MEMBERS).

Program Service Accomplishments

Program 1

PROVIDES FOR HEALTH AND WELFARE BENEFITS TO EMPLOYEES OF THE SNOHOMISH COUNTY PUD AND COVERS SUBSTANTIALLY ALL ACTIVE AND RETIRED EMPLOYEES UNDER 65

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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 $30,603,572

Investment Income $263,276

Other Revenue $1,541,025

TOTAL REVENUE $32,407,873

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,231,936

TOTAL EXPENSES $32,656,288

Year-over-Year Comparison

	2024	2023	Change
Revenue	$32,407,873	$29,189,410	+0.1%
Expenses	$32,656,288	$30,235,427	+0.1%
Net Income	$-248,415	$-1,046,017	-0.8%

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

$1,896,017

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CRAVEN JUSTIN	TRUSTEE	1.00	Director	$0	$62,789	$337,102
HASTINGS STEVEN	TRUSTEE	1.00	Director	$0	$51,438	$220,791
HUNSTOCK SHAWN	TRUSTEE	1.00	Director	$0	$63,322	$327,107
LUSCH NICHOLAS	TRUSTEE	1.00	Director	$0	$58,557	$280,031
POLLOW DANA	TRUSTEE	1.00	Director	$0	$46,731	$280,126
WILLENBROCK FREDERICK	TRUSTEE	1.00	Director	$0	$76,815	$450,860
N/A	TRUSTEE	1.00		$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
2024	$32,407,873	$32,656,288	$12,702,268	$-248,415
2023	$29,189,410	$30,235,427	$12,567,231	$-1,046,017
2022	$24,504,904	$27,546,379	$13,642,744	$-3,041,475
2021	$24,051,615	$25,150,572	$16,394,373	$-1,098,957
2020	$25,381,846	$22,311,290	$17,831,548	$3,070,556

SNOHOMISH COUNTY PUD VOLUNTARY BENEFICIARY ASSN