Veba for Retirees of Kaiser Aluminum

Nonprofit profile at a glance

EIN
201203429
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Pittsburgh, PA, USA
Phone
4122012242
Rating confidence
Limited
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$23,837,686
Expenses
$35,270,642
Assets
$870,409,844
Liabilities
$38,538

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

Leadership & pay

4 people listed

People named in this filing

  • THOMAS F DUZAK (TRUSTEE/CHAIRMAN)
  • JAYNE SABO (TRUSTEE)
  • NEAL WEST (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The fund operates as a trust to provide certain health benefits to current and future kaiser retirees following employment in certain usw and iam represented bargaining units.

What it reported doing in 2024

Provides prescription drug benefits to certain medicare eligible participants, to their beneficiaries and covered dependents. Eligible participants receive medicare part b reimbursements based on a set monthly rate from the plan. Established a healthcare premium reimbursement program that provides reimbursement for premiums paid by enrolled participants for various forms of qualified medical, prescription, dental, and vision benefits. Established a non-contributory dental insurance plan, effective january 01, 2022. Under the healthcare premium reimbursement program ("hprp"), premiums paid for dental plan coverage are excluded.

Operating model

Revenue model
Other-operating. 81% 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: 90
  • Accountability: 71
  • Sustainability: 52
  • 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; 62nd 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: 50%; rating input score 50; 8th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -48%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 24.68; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -5.4% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 2.4% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 2 of 4 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 4 people listed
  • Highest-paid contractors: 4 contractors listed · $1.3M reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Review — Accountability: Independent voting board scored 50/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 2/100.