City of San Jose Sworn VEBA Health Savings Trust

Nonprofit profile at a glance

EIN
832286028
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
San Jose, CA, USA
Phone
4085358152
Rating
59
Verdict
MIXED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Government)

Reported finances

Revenue
$7,830,151
Expenses
$381,793
Assets
$55,491,573
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

1 person listed

People named in this filing

  • VOYA INSTITUTIONAL TRUST COMPANY (Trustee)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To fund reimbursement of medical expenses under a health reimbursement arrangement.

What it reported doing in 2025

Health Reimbursement arrangement by organization had approximately 1380 participants who received medical care in the amount of $228,648.89

Operating model

Revenue model
Earned-program. 84% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 100% of its reported program spending for member benefits.

The verdict

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

Rating breakdown

  • Financial Efficiency: 21
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 98
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 2.5%; rating input score 2
  • Program expense ratio: 59.9%; rating input score 60
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 95.1%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 145.34; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 96; 96th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 90; 90th percentile among comparable filings

Growth

  • Program expense growth: 4% per year; rating input score 100; 30th percentile among comparable filings
  • Revenue growth: 16.2% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 22.3% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 2.5% of revenue deployed · 59.9% of spending went to programs
  • Governance: 1 of 1 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $229K in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

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

  • High — Financial Efficiency: Mission deployment rate scored 2/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.