NORTHROP GRUMMAN CORPORATION VEBA MASTER TRUST I

EIN: 953386394 Mutual Benefit

QUINCY, MA

Total Revenue
$1,322,069,327
Total Expenses
$1,290,040,045
Total Assets
$284,986,652
Net Assets
$284,986,652
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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
1988
Legal Domicile
MA
Principal Officer
ERIC SCHOLTEN
Phone
6176626858
Tax Period
2023-01-01 to 2023-12-31

NORTHROP GRUMMAN CORPORATION VEBA MASTER TRUST I, founded in 1988, is a large national nonprofit in the Mutual Benefit sector that reported $1.3B in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

THE PRIMARY PURPOSE OF VEBA I ("VEBA I") IS TO PROVIDE HEALTH CARE AND LIFE INSURANCE BENEFITS TO ELIGIBLE EMPLOYEES AND THEIR DEPENDENTS AS SET FORTH IN THE NORTHROP GRUMMAN CORPORATION VEBA MASTER TRUST I.

Program Service Accomplishments

Program 1

PAYMENT OF HEALTH CARE AND LIFE INSURANCE CLAIMS FOR ELIGIBLE EMPLOYEES AND THEIR DEPENDENTS UNDER THE NORTHROP GRUMMAN CORPORATION VEBA MASTER TRUST I.

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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 $1,313,434,109
Investment Income $7,759,908
Other Revenue $875,310
TOTAL REVENUE $1,322,069,327

Expense Breakdown

Grants Paid $0
Salaries & Benefits $13,743
Fundraising Expenses $0
Other Expenses $57,566,314
TOTAL EXPENSES $1,290,040,045

Year-over-Year Comparison

2023 2022 Change
Revenue $1,322,069,327 $1,219,541,017 +0.1%
Expenses $1,290,040,045 $1,232,951,184 +0.0%
Net Income $32,029,282 $-13,410,167 -3.4%
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
6
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
2
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ERIC SCHOLTEN INVMT COMMITTEE CHAIR 0.50
Officer Director
$0 $0 $0
DENNIS NEWBERRY INVMT COMMITTEE SECRETARY 0.50
Officer Director
$0 $0 $0
RICHARD BOAK INVMT COMMITTEE MEMBER 0.50
Director
$0 $0 $0
JEFF SCHMIDT INVMT COMMITTEE MEMBER 0.50
Director
$0 $0 $0
SUNIL NAVALE INVMT COMMITTEE MEMBER 0.50
Director
$0 $0 $0
INGRID VAUGHAN INVMT COMMITTEE MEMBER 0.50
Director
$0 $0 $0
N/A TRUSTEE 5.00
$13,743 $0 $13,743
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 $1,322,069,327 $1,290,040,045 $284,986,652 $32,029,282
2022 $1,219,541,017 $1,232,951,184 $251,344,738 $-13,410,167
2021 $1,213,531,994 $1,185,780,945 $265,633,281 $27,751,049
2020 $1,093,194,105 $1,085,983,807 $238,661,584 $7,210,298
2019 $1,110,354,782 $1,120,866,143 $230,047,760 $-10,511,361
2018 $936,419,677 $917,420,302 $241,805,926 $18,999,375
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