Dte Energy Company Master Veba Trust

Nonprofit profile at a glance

EIN
200471790
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Detroit, MI, USA
Phone
3132351662
Rating confidence
Limited
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$39,179,418
Expenses
$83,304,330
Assets
$1,332,562,150
Liabilities
$17,100,715

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 veba was established for the purpose of providing for the funding of payments of certain post-retirement life insurance, sickness, accident, and other similar benefits under certain welfare benefit plans maintained or contributed to by dte energy company.

What it reported doing in 2024

Post-retirement life insurance, sickness, accident, and other similar benefits to eligible employees and beneficiaries.

Operating model

Revenue model
Investment-supported. 79% of the money available for current operations came from recurring investment income.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 50
  • Accountability: 18
  • Sustainability: 49
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • 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: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -112.6%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 16; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 0.5%; rating input score 90; 90th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -9.1% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -3.2% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 0 of 1 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $395K · 1 people listed
  • Highest-paid contractors: 4 contractors listed · $1.6M reported
  • Consistency: 9 of 9 current checks pass
  • Schedules: 4 filed schedules · includes foreign activity
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Asset growth scored 0/100.