Voluntary Employees Benefit Association Trust For Public in Spokane, Washington (WA)

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Voluntary Employees Benefit Association Trust For Public
Employer Identification Number (EIN)911214669
Name of OrganizationVoluntary Employees Benefit Association Trust For Public
Address906 W 2nd Ave Ste 400, Spokane, WA 99201-4537
SubsectionVoluntary Employees' Beneficiary Association (Non-Govt. Emps.)
Ruling Date03/1984
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationAssociation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2011
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$175,974,995
Amount of Income$88,454,386
Form 990 Revenue Amount$45,931,389
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 2011: $88,454,386
This organization: 

 $88,454,386
Other organizations performing similar types of work: 

 $1,319,331

Assets in 2011: $175,974,995
This organization: 

 $175,974,995
Other organizations performing similar types of work: 

 $986,992

Expenses in 2007: $26,087,124
Voluntary Employees Benefit Association Trust For Public: 

 $26,087,124
Other organizations performing similar types of work: 

 $6,312,333

Income to expenses ratio in 2007: 1.5
Voluntary Employees Benefit Association Trust For Public: 

 1.5
Other organizations performing similar types of work: 

 1.2

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
20002001200220032004200520062007
Total revenue$23,366,965$26,267,678$26,183,508$26,922,156$29,185,213$32,514,553$37,921,478$39,159,179
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0$0$0$0
Contributions to donor advised funds$0$0
Direct public support$0$0$0$0$0$0$0$0
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$20,968,853$23,274,033$22,466,335$22,384,895$25,223,928$26,788,850$29,236,768$33,889,651
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$212,485$84,825$37,730$17,429$65,418$247,387$912,002$266,843
Dividends and interest from securities$2,516,216$2,941,210$2,842,143$4,901,957$3,942,564$5,481,745$3,682,382$4,872,940
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$89,174$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$-420,456$-32,390$837,300$-382,125$-46,697$-34,528$4,056,431$93,195
Gross amount from sales of assets other than inventory$17,551,704$5,182,906$9,713,519$10,206,207$1,823,525$13,229,036$61,592,457$24,606,487
Less: cost or other basis and sales expenses$17,972,160$5,215,296$8,876,219$10,588,332$1,870,222$13,263,564$57,536,026$24,513,292
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$693$0$0$0$0$31,099$33,895$36,550
Total expenses$13,862,434$15,154,054$16,332,378$16,599,694$18,799,419$20,843,046$23,338,158$26,087,124
Program services$0$0$0$0$0$0$0$0
Management and general$0$0$0$0$0$0$0$0
Fundraising$0$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$55,709,111$64,493,587$74,351,381$86,321,462$97,805,151$109,437,595$124,926,310$132,992,667
Excess or (deficit) for the year$9,504,531$11,113,624$9,851,130$10,322,462$10,385,794$11,671,507$14,583,320$13,072,055
Net assets or fund balances at beginning of year$47,818,869$55,709,111$64,493,587$74,351,381$86,321,462$97,805,151$109,437,595$124,926,310
Other changes in net assets or fund balances$-1,614,289$-2,329,148$6,664$1,647,619$1,097,895$-39,063$905,395$-5,005,698
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$26,087,124$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$23,488,250
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$12,000$0$0$0
Legal fees$63,290$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$30,807$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$14,448$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$20,563$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$2,457,766$0$0$0
Balance Sheets
20002001200220032004200520062007
Total assets$56,172,874$65,806,785$75,266,866$86,859,488$98,439,143$110,076,881$126,062,137$134,464,387
Cash - non-interest-bearing$49,942$655,531$55,242$414,262$8,434$86,823$4,152$38,953
Savings and temporary cash investments$3,117,875$982,227$981,793$1,524,756$2,351,151$5,098,915$8,637,222$6,440,725
Accounts receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Grants receivable$0$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$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$0
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$13,584$12,421$15,596$9,367$8,825$13,317$8,866$9,416
Investments - publicly-traded securities$80,364,115$41,975,641
Investments - other securities$24,711,551$33,267,259$40,429,349$42,932,965$50,210,304$57,491,732$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$28,279,922$30,889,347$33,784,886$41,978,138$45,860,429$47,386,094$37,039,276$85,999,652
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Other assets, including program-related investments$0$0$0$0$0$0$8,506$0
Total liabilities$463,763$1,313,198$915,485$538,026$633,992$639,286$1,135,827$1,471,720
Accounts payable and accrued expenses$463,763$99,075$125,485$138,026$133,992$163,286$163,827$169,720
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$0$615,123$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0$0
Other liabilities$0$599,000$790,000$400,000$500,000$476,000$972,000$1,302,000
Total liabilities and net assets/fund balances$56,172,874$65,806,785$75,266,866$86,859,488$98,439,143$110,076,881$126,062,137$134,464,387
Total net assets or fund balances$55,709,111$64,493,587$74,351,381$86,321,462$97,805,151$109,437,595$124,926,310$132,992,667
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$0$0$0$0$0$32,514,553$37,921,478$39,159,179
Total revenue, gains, and other support per audited financial statements$0$0$0$0$0$32,475,490$38,826,873$34,153,481
Other expenses$0$0$0$0$0$-39,063$905,395$-5,005,698
Net unrealized gains on investments$0$0$0$0$0$-52,332$892,873$-5,050,010
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$13,269$12,522$44,312
Other revenue$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$0$0$0$0$0$20,843,046$23,338,158$26,087,124
Total expenses and losses per audited financial statements$0$0$0$0$0$20,843,046$23,338,158$26,087,124
Other revenue$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$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 meetings6
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?No
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?No
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?No
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?No
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$0$5,232,978$33,926,201
Program service revenue
Program service revenue 1000000$000$0$33,889,651
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 investments000000$0Section 501(c)(9), or (17) organization - Non-exempt function income set aside for the payment of life, sick, accident, or other benefits (section 512(a)(3)(B)(ii))$266,843$0
Dividends and interest from securities000000$0Section 501(c)(9), or (17) organization - Non-exempt function income set aside for the payment of life, sick, accident, or other benefits (section 512(a)(3)(B)(ii))$4,872,940$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 inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$93,195$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$36,550
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
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$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$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$0
Net income from unrelated business activities not included above$0$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$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$0
Other income$0$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
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Bankamerica Group Benefits Program TrPO BOX 831041, Dallas, TX 75283-1041TX1999-09$2,644,095,252
2General Motors Health Care Trust For Salaried RetireesPO BOX 711034, Columbus, OH 43271-0001OH2005-01$2,357,872,443
3General Motors Welfare Benefit Tr300 Renaissance Center, Detroit, MI 48265-0001MI1998-05$1,897,212,317
41199 National Benefit Fund For Hospital & Human Service EmployeesPO BOX 842, New York, NY 10108-0842NY2002-04$1,311,097,463
5Ascension Health Welfare Benefits TrustPO BOX 46944, Saint Louis, MO 63146-6944MO2001-01$808,492,655
6Bae Systems North America Welfare Benefit Trust1101 Wilson Blvd Ste 2000, Arlington, VA 22209-2293VA1993-08$732,756,969
7Microsoft Corporation 501c9 Tr1 Microsoft Way, Redmond, WA 98052-8300WA2000-05$721,873,471
8Veba For Retirees Of Kaiser Aluminum60 Blvd Of The Allies, Pittsburgh, PA 15222-1214PA2007-02$610,270,629
9Independent Health Care Tr For Uaw Retirees Of Gm8721 E Jefferson Ave, Detroit, MI 48214-2810MI2007-07$574,818,197
10Delta Account Based Medical Tr, Delta Benefits Accounting Dept 6341030 Delta Blvd, Atlanta, GA 30354-1989GA2009-05$550,120,228
11National Railway Carriers & United Trans Union Health & Welfare Plan1901 L St Nw Ste 500, Washington, DC 20036-3514DC2001-09$532,043,936
12Health Reimbursement Account Fund Of The Electrical Industry158-11 Harry Van Arsdale Jr Avenue, Flushing, NY 11365-3085NY2005-06$474,260,075
13At&t Welfare Benefit Trust1010 N St Marys St Ste 10-I, San Antonio, TX 78215-2109TX2006-03$466,340,771
14Pinnacle W Capital Corp Other Postretirement Employee Benfits TrPO BOX 5100, Boston, MA 02206-5100MA1994-04$396,978,063
15Asea-Afscme Local 52 Health Benefits Trust111 W Cataldo Ave Ste 220, Spokane, WA 99201-3201WA2002-11$169,342,781
16Seiu Local 775 Multiemployer Health Benefits Tr12121 Harbour Reach Dr Ste 105, Mukilteo, WA 98275-5314WA2007-01$102,781,675
17Voluntary Employees Benefit Association Trust For Public906 W 2nd Ave Ste 400, Spokane, WA 99201-4537WA1984-03$88,454,386
18Washington Alliance For Healthcare Insurance Trust, Lovejoy F Bentley TteePO BOX 6, Mukilteo, WA 98275-0006WA1999-10$60,002,985
19State Of Indiana Health Reimbursement Arrangement Hra906 W 2nd Ave Ste 400, Spokane, WA 99201-4537WA2005-02$56,215,087
20Northwest Financial Associations EbtPO BOX 1718, Tacoma, WA 98401-1718WA2009-02$22,346,911
21Retail Clerks Retiree Welfare Trust201 Queen Anne Ave N Ste 100, Seattle, WA 98109-4824WA1999-12$10,625,666
22Law Enforcement Officers & Fire Fighters Health And Welfare Trust4407 N Division, Spokane, WA 99207-1600WA1987-10$27,467,737
23Cowles Company Medical Plan Veba Trust, Steven R Rector Ttee999 W Riverside Ave Ste 626, Spokane, WA 99201-1006WA2008-02$4,059,220
24Electrical Workers Veba TrustPO BOX 5433, Spokane, WA 99205-0433WA2009-03$1,305,944
25Osborne Construction Company Employee Benefit Tr For Hourly EmpPO BOX 97010, Kirkland, WA 98083-9710WA2002-02$1,036,070
26Aaa Service Provider Trust, Mike Guisinger TteePO BOX 6, Mukilteo, WA 98275-0006WA2008-01$768,376
27Employer Contribution Veba Trust For Seattle Pacific University3307 3rd Ave W, Seattle, WA 98119-1940WA2008-04$530,073
28Osborne Construction Company Employee Benefit Tr For Salaried EPO BOX 97010, Kirkland, WA 98083-9710WA2002-02$506,540
29Employee After Tax Contribution Veba Trust For Seattle Pacific3307 Third Avenue West, Seattle, WA 98119WA2008-04$173,437
30Horizon Air Industries Inc Trust For Continuation Of Medical Covera19521 International Blvd, Seatac, WA 98188-5402WA2002-05$4,557
Number of organizations performing similar types of work
Alaska5
Alabama13
Arkansas6
Arizona13
California148
Colorado20
Connecticut39
District of Columbia19
Delaware7
Florida49
Georgia29
Hawaii17
Iowa21
Idaho3
Illinois86
Indiana112
Kansas14
Kentucky6
Louisiana13
Massachusetts44
Maryland33
Maine7
Michigan75
Minnesota60
Missouri37
Mississippi4
Montana21
North Carolina27
North Dakota5
Nebraska8
New Hampshire10
New Jersey43
New Mexico6
Nevada13
New York177
Ohio110
Oklahoma18
Oregon18
Pennsylvania169
Rhode Island9
South Carolina10
South Dakota5
Tennessee29
Texas97
Utah12
Virginia56
Vermont3
Washington32
Wisconsin65
West Virginia10
Wyoming5
International6
Total1,844

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