MidAmerican Energy Company Master VEBA Trust For NonBargaining Employees
Nonprofit profile at a glance
- EIN
- 421401491
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024
- Location
- Pittsburgh, PA, USA
- Phone
- 4122342242
- Rating confidence
- Limited
- Sector
- Voluntary Employees Beneficiary Associations (Non-Government)
Reported finances
- Revenue
- $8,409,285
- Expenses
- $11,475,261
- Assets
- $183,388,927
- Liabilities
- $8,268
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
1 person listed
Highest reported compensation
- THE BANK OF NEW YORK MELLON TRUSTEE ((SEE SCHEDULE O)): $68,487 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To operate a qualified veba trust for the employees and retirees.
What it reported doing in 2024
Benefits paid for medical, disability, vision, dental, and life insurance for the participants.
Operating model
- Revenue model
- Investment-supported. 66% 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: 90
- Accountability: 12
- Sustainability: 50
- Growth: 20
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; 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: 2 of 9 controls in place; rating input score 29
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Limited
- Other executive compensation review process: Limited
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Fail
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -36.5%; rating input score 3; 3rd percentile among comparable filings
- Total-asset coverage ratio: 15.98; rating input score 94; 94th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 94; 94th percentile among comparable filings
- Officer compensation ratio: 0.6%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -57.6% per year; rating input score 0; 0th percentile among comparable filings
- Asset growth: 2.1% per year; rating input score 100; 20th 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 · 2 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $68K · 1 people listed
- Consistency: 8 of 8 current checks pass
- Schedules: 2 filed schedules
- Filing history: 4 filing years from 2020 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 — Accountability: Governance controls: 5 of 7 not reported.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 3/100.