Usaa Employee Benefit Association in San Antonio, Texas (TX)

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Usaa Employee Benefit Association
Employer Identification Number (EIN)742678290
Name of OrganizationUsaa Employee Benefit Association
AddressPO BOX 690286, San Antonio, TX 78269-0286
ActivitiesSick, accident, death, or similar benefits
SubsectionVoluntary Employees' Beneficiary Association (Non-Govt. Emps.)
Ruling Date02/1996
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period12/2009
Assets$10,000,000 to $49,999,999
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$38,823,249
Amount of Income$55,012,960
Form 990 Revenue Amount$8,188,815
National Taxonomy of Exempt Entities (NTEE)Mutual/Membership Benefit Organizations, Other: Voluntary Employees Beneficiary Associations (Non-Government)


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Amount of income in 2009: $55,012,960
Usaa Employee Benefit Association: 

 $55,012,960
Other organizations performing similar types of work: 

 $15,570,795

Assets in 2009: $38,823,249
Usaa Employee Benefit Association: 

 $38,823,249
Other organizations performing similar types of work: 

 $11,472,741

Expenses in 2007: $25,232,378
This organization: 

 $25,232,378
Other organizations performing similar types of work: 

 $9,889,885

Income to expenses ratio in 2007: 0.3
Usaa Employee Benefit Association: 

 0.3
Other organizations performing similar types of work: 

 1.0

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2000200120022004200520062007
Total revenue$28,042,639$4,369,542$-10,388,602$52,869,818$52,322,560$108,982,460$7,181,822
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0$0$0
Contributions to donor advised funds$0$0
Direct public support$0$0$0$0$0$0$0
Indirect public support$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$231,833$1,648,672$2,234,580$44,436,317$51,936,091$103,648,895$3,201,335
Membership dues and assessments$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$0$2,129,568$720,365$267,928
Dividends and interest from securities$1,140,269$1,002,435$1,153,639$1,363,445$0$0$0
Net rental income or (loss)$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$471$0
Gain or (loss) from sales of assets other than inventory$23,924,952$-536,398$-16,062,896$4,317,984$-3,601,236$216,913$504,880
Gross amount from sales of assets other than inventory$159,919,899$18,948,387$67,923,059$89,615,941$431,720,946$175,651,686$191,099,700
Less: cost or other basis and sales expenses$135,994,947$19,484,785$83,985,955$85,297,957$435,322,182$175,434,773$190,594,820
Net income or (loss) from special events and activities$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0
Other revenue$2,745,585$2,254,833$2,286,075$2,752,072$1,858,137$4,395,816$3,207,679
Total expenses$2,701,980$7,318,501$13,535,420$18,504,239$18,510,212$23,630,050$25,232,378
Program services$0$0$0$0$0$0$0
Management and general$0$0$0$0$0$0$0
Fundraising$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0
Net assets or fund balances at end of year$-149,421,456$-219,116,879$-350,518,124$-396,185,001$-454,421,728$-408,362,907$-496,401,296
Excess or (deficit) for the year$25,340,659$-2,948,959$-23,924,022$34,365,579$33,812,348$85,352,410$-18,050,556
Net assets or fund balances at beginning of year$-61,616,910$-149,421,456$-219,116,879$-368,014,569$-396,185,002$-454,421,727$-408,362,907
Other changes in net assets or fund balances$-113,145,205$-66,746,464$-107,477,223$-62,536,011$-92,049,074$-39,293,590$-69,987,833
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$25,232,378$0$0$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$23,816,188
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$1,416,190$0$0$0
Balance Sheets
2000200120022004200520062007
Total assets$160,378,544$139,307,610$133,736,876$175,487,136$208,557,901$294,008,894$83,975,951
Cash - non-interest-bearing$0$0$0$6,659$0$0$0
Savings and temporary cash investments$2,411,727$0$37,148$57,552,790$5,782,559$6,912,382$6,119,189
Accounts receivable less allowance for doubtful accounts$6,686$9,074$18$13,760,651$1,094,942$994,404$1,110,502
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0$0$75,631,365
Investments - publicly-traded securities$92,524,244$0
Investments - other securities$155,465,693$139,298,536$129,549,274$61,062,949$108,590,268$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0
Other assets, including program-related investments$2,494,438$0$4,150,436$43,104,087$93,090,132$193,577,864$1,114,895
Total liabilities$309,800,000$358,424,490$484,255,000$571,672,138$662,979,628$702,371,801$580,377,247
Accounts payable and accrued expenses$0$0$0$0$0$0$0
Grants payable$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0
Other liabilities$309,800,000$358,424,490$484,255,000$571,672,138$662,979,628$702,371,801$580,377,247
Total liabilities and net assets/fund balances$160,378,544$139,307,611$133,736,876$175,487,136$208,557,901$294,008,894$83,975,951
Total net assets or fund balances$-149,421,456$-219,116,879$-350,518,124$-396,185,002$-454,421,727$-408,362,907$-496,401,296
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2000200120022004200520062007
Total revenue$28,042,639$4,369,542$-10,388,602$52,869,818$55,923,796$108,883,877$7,181,822
Total revenue, gains, and other support per audited financial statements$2,732,304$4,905,940$5,674,294$48,551,834$55,923,796$108,982,460$8,335,701
Other expenses$18,931$0$0$0$0$98,583$1,153,879
Net unrealized gains on investments$0$0$0$0$0$98,583$688,903
Donated services and use of facilities$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0
Other$18,931$0$0$0$0$0$464,976
Other revenue$25,329,266$-536,398$-16,062,896$4,317,984$0$0$0
Investment expenses$0$0$0$0$0$0$0
Other$25,329,266$-536,398$-16,062,896$4,317,984$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2000200120022004200520062007
Total expenses$2,701,980$7,318,501$13,535,420$18,504,239$18,510,212$23,630,050$25,232,378
Total expenses and losses per audited financial statements$16,217,116$20,759,362$16,482,651$11,106,128$22,853,031$23,630,050$25,232,378
Other revenue$38,844,402$13,440,861$2,947,231$-7,398,111$4,342,819$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0
Losses$38,825,471$12,904,463$-13,115,665$-3,080,127$4,342,819$0$0
Other$18,931$536,398$16,062,896$-4,317,984$0$0$0
Other expenses$25,329,266$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0
Other$25,329,266$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings7
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?Yes
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$3,980,487$0$3,201,335
Program service revenue
Program service revenue 1000000$000$0$3,201,335
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments999999$267,92800$0$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory999999$504,88000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue999999$3,207,67900$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
1999200020012003200420052006
Total$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1At&t Veba Trust1010 N St Marys St Ste 10-I, San Antonio, TX 78215-2109TX1988-12$11,607,041,922
2At&t Union Welfare Benefit Trust, Co H E Rainbolt1010 N St Marys St Rm 10-I, San Antonio, TX 78215-2109TX1994-09$10,871,420,269
3Bellsouth Corp Representable Empl Healthcare Trust Retirees, Bshils Llc1010 N St Marys St Ste 10-I, San Antonio, TX 78215-2109TX1994-06$2,444,821,612
4At&t Represented Employees Postretirement Health Benefits Tr, Post Retirement Health Benefit Trst1010 N St Marys St Ste 10-I, San Antonio, TX 78215-2109TX1992-12$927,846,812
5Schlumberger Master Health Care Trust3600 Briarpark Drive 3rd Fl, Houston, TX 77042-5206TX1984-03$753,640,012
6Pacific Telesis Group Basic And Supplementary Death Benefit Trust1010 M St Marys St Ste 10-I, San Antonio, TX 78215TX1988-08$621,680,581
7Bp Welfare Plan Trust-Iii501 Westlake Park Bvld Ste Wl12178d, Houston, TX 77079TX1991-02$598,043,629
8Electronic Data Systems Corp Health Benefit Plan Trust, Eds Welfare Benefit Trust5400 Legacy Dr H3-1c-53, Plano, TX 75024-3105TX1980-02$377,519,125
9Southwest Veba Tr2702 Love Field Dr, Dallas, TX 75235-1908TX1992-04$331,158,055
10American Telephone & Telegraph Co Health Plans Benefit Trust175 E Houston St, San Antonio, TX 78205-2255TX1988-09$298,270,768
11J C Penny Corporation Inc Veba6501 Legacy Dr Msc 1203, Plano, TX 75024-3612TX1976-02$290,335,410
12Compaq Computer Corp Emloyee Benefit TrustHouston, TX 77252TX$268,456,366
13Usaa Employee Benefit Association Medical Acctive Lives TrustPO BOX 690286, San Antonio, TX 78269-0286TX1996-02$240,698,945
14Pacific Telesis Group Post Retirement Health Care For Collect1010 N St Marys St Ste 10-I, San Antonio, TX 78215-2109TX1994-02$195,009,699
15Bellsouth Corporation Healthcare Trust Retirees1010 N Saint Marys St, San Antonio, TX 78215-2109TX1994-06$180,275,019
16T I Employees Health Benefits TrustPO BOX 650311, Dallas, TX 75265-0311TX1981-02$174,222,542
17Fluor Employee Benefit Trust-Veba6700 Las Colinas Blvd, Irving, TX 75039-2902TX1983-07$133,204,389
18El Paso Natural Gas Company Employees Benefit TrustPO BOX 2511, Houston, TX 77252-2511TX1994-04$121,326,315
19American Airlines Inc Health Benefits Tr For Non-Union EmployeePO BOX 619616, Dfw Airport, TX 75261-9616TX1991-06$116,994,592
20Ibew-Neca Southwestern Health Benefit Fund4040 Mcewen Rd Ste 200, Dallas, TX 75244-5092TX1973-03$87,568,842
Number of organizations performing similar types of work
Alaska4
Alabama13
Arkansas6
Arizona19
California217
Colorado18
Connecticut44
District of Columbia24
Delaware7
Florida38
Georgia43
Hawaii21
Iowa25
Idaho5
Illinois218
Indiana47
Kansas19
Kentucky23
Louisiana10
Massachusetts81
Maryland58
Maine4
Michigan96
Minnesota80
Missouri75
Mississippi6
Montana7
North Carolina45
North Dakota6
Nebraska12
New Hampshire5
New Jersey128
New Mexico3
Nevada18
New York325
Ohio132
Oklahoma12
Oregon38
Pennsylvania205
Rhode Island20
South Carolina6
South Dakota2
Tennessee46
Texas113
Utah16
Virginia28
Vermont1
Washington65
Wisconsin61
West Virginia12
Wyoming1
International1
Total2,509

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