Astrazeneca Veba Trust Agreement for Retiree Health Benefits

Nonprofit profile at a glance

EIN
616287564
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Wilmington, DE, USA
Phone
3028863000
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$6,239,594
Expenses
$15,877,220
Assets
$46,709,245
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

1 person listed

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The astrazeneca veba trust agreement for retiree health benefits is a voluntary beneficiary association organized under 501(c)(9) to provide medical and dental coverage to eligible retired former employees of astrazeneca pharmaceuticals, lp.

What it reported doing in 2024

A 501(c)(9) trust established for the funding and payment of medical and dental benefits on behalf of eligible retired former employees of astrazeneca pharmaceuticals, lp.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Member-benefit provider. The nonprofit used 99% of its reported program spending for member benefits.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 30
  • Sustainability: 43
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -154.5%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 2.94; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 0.2%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: -14.2% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -8.7% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -15.9% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 1 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $15.9M in reported program spending
  • Leadership: top reported pay $32K · 1 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 8 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.