Naval Academy Athletic Association Veba Benefit Trust
Nonprofit profile at a glance
- EIN
- 816529931
- IRS 990 coverage
- 2016–2024
- Forms available
- Form 990 2024
- Location
- Annapolis, MD, USA
- Phone
- 4102932700
- Rating confidence
- Limited
- Sector
- Voluntary Employees Beneficiary Associations (Non-Government)
Reported finances
- Revenue
- $385,774
- Expenses
- $137,559
- Assets
- $3,818,633
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- CHET GLADCHUK (NAAA PRESIDENT)
Highest reported compensation
- CHET GLADCHUK (NAAA PRESIDENT): $1,027,644 total reported compensation
- M COLLEEN JORDAN (NAAA CFO/TREASURER): $280,562 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Naaa veba benefit trust (the trust) is a voluntary employees' beneficiary association whose primary exempt purpose is to provide group health benefits and medicare part-d coverage for eligible retirees of the naval academy athletic association.
What it reported doing in 2024
To provide group health benefits and medicare part-d coverage for eligible retirees of the naval academy athletic association.
Operating model
- Revenue model
- Other-operating. 98% of the money available for current operations came from other operating revenue.
- 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: 60
- Accountability: 5
- Sustainability: 83
- 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; 64th percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- 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; 7th percentile among comparable filings
- Governance controls: 1 of 9 controls in place; rating input score 11
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 64.3%; rating input score 95; 95th percentile among comparable filings
- Total-asset coverage ratio: 27.76; rating input score 97; 97th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
- Officer compensation ratio: 82.6%; rating input score 1; 1st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -21.4% per year; rating input score 0; 3rd percentile among comparable filings
- Asset growth: 3.6% per year; rating input score 100; 41st percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 0 of 3 board members independent · 1 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $1M · 3 people listed · 0 of 6 pay-setting controls reported
- Consistency: 7 of 7 current checks pass
- Schedules: 3 filed schedules · includes executive pay
- Filing history: 8 filing years from 2016 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 1 filed related-organization link
- 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: Pay-setting controls scored 0/100.
- High — Accountability: Governance controls: 7 of 8 not reported.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 1/100.