Cleveland-cliffs Steel LLC Veba Trust
97% goes to programs Strong reserves Declining revenue
Cleveland-cliffs Steel LLC Veba Trust is a 501(c)(9) organization based in Cleveland, Ohio, registered in 2006, with $21,412,564 in FY2024 revenue. CharityIndex grades it C, and it directs about 97% of spending to programs.
200 Public Sq Ste 3300, Cleveland, OH, 44114 EIN 20-0689362 Since 2006
Revenue (FY2024)
$21.4M
▼ 72.0% vs prior year
Membership median: $185K
Expenses (FY2024)
$43.9M
Net assets
$453.1M
Employees
0
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →A+Program efficiency40% of the rating97% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Cleveland-cliffs Steel LLC Veba Trust: 97% to programs earns a A+ on this criterion. See the exact thresholds →
FFinancial health25% of the rating124 mo reserves · -105% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Cleveland-cliffs Steel LLC Veba Trust: 124 mo reserves · -105% margin earns a F on this criterion. See the exact thresholds →
CGovernance25% of the rating2 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Cleveland-cliffs Steel LLC Veba Trust: 2 of 6 checks met earns a C on this criterion. See the exact thresholds →
BTransparency10% of the rating3 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Cleveland-cliffs Steel LLC Veba Trust: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
The trust is the funding vehicle for the voluntary employees' beneficiary association for the cleveland-cliffs steel llc employees (formerly uswa employees of bethlehem steel and ltv steel)
Contact & location
- Address
- 200 Public Sq Ste 3300, Cleveland, OH, 44114
- City
- Cleveland
- State
- Ohio
- Category
- Mutual & Membership Benefit
- Subcategory
- Fraternal Societies
- Phone
- …
Financial trends
Revenue declined from $33.9M (FY2020) to $21.4M (FY2024) across 5 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $3.9MNet assets $453.1M
Operating margin
-104.9%
Spent more than it raised in the latest fiscal year.
Total assets
$456.9M
Total liabilities
$3.9M
Net assets
$453.1M
Salaries & benefits
$13K
0% of expenses
Board members
1
1 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $21,412,564▼72.0% | $43,863,824▼21.3% | $453,058,548▼0.6% | $456,946,957▼0.3% | 990 |
| 2023 | $76,472,908▼21.1% | $55,735,656▼17.5% | $455,801,342▲0.6% | $458,241,569▲0.5% | 990 |
| 2022 | $96,911,835▲6.0% | $67,575,466▲7.9% | $453,202,150▼2.7% | $456,082,727▼2.9% | 990 |
| 2021 | $91,451,431▲170% | $62,612,949▼6.8% | $465,642,029▲9.1% | $469,503,955▲9.3% | 990 |
| 2020 | $33,904,097 | $67,178,869▼46.0% | $426,901,772▼33.7% | $429,478,123▼33.3% | 990 |
| 2012 | — | $124,390,699▼1.6% | $643,603,395▲35.9% | $643,953,707▲36.0% | 990 |
| 2011 | — | $126,389,908 | $473,510,464 | $473,510,464 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: The Bank of New York Mellon — $12,500 (0.03% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| The Bank of New York Mellon | Inst Trustee | 5 | $12,500 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Solidarity Health Network Inc | Plan Administration Fees | $1,287,368 |
| Willis Towers Watson | Invest Mgmt/consulting Services | $180,904 |
| Jp Morgan Investment Management | Investment Management | $107,426 |
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Compare Cleveland-cliffs Steel LLC Veba Trust
Frequently asked questions
- Is Cleveland-cliffs Steel LLC Veba Trust a legitimate nonprofit?
- Yes. Cleveland-cliffs Steel LLC Veba Trust is a 501(c)(9) organization registered with the U.S. Internal Revenue Service under EIN 20-0689362, based in Cleveland, Ohio.
- What is Cleveland-cliffs Steel LLC Veba Trust's EIN?
- Cleveland-cliffs Steel LLC Veba Trust's Employer Identification Number (EIN) is 20-0689362.
- How much revenue does Cleveland-cliffs Steel LLC Veba Trust report?
- Cleveland-cliffs Steel LLC Veba Trust reported $21,412,564 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Cleveland-cliffs Steel LLC Veba Trust's spending goes to programs?
- Cleveland-cliffs Steel LLC Veba Trust spends about 97% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Cleveland-cliffs Steel LLC Veba Trust have?
- CharityIndex grades Cleveland-cliffs Steel LLC Veba Trust C, based on program efficiency and fundraising cost.
- How much does Cleveland-cliffs Steel LLC Veba Trust's highest-paid employee make?
- The highest reported compensation on Cleveland-cliffs Steel LLC Veba Trust's latest Form 990 is $12,500, paid to The Bank of New York Mellon (Inst Trustee).
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Data for Cleveland-cliffs Steel LLC Veba Trust (EIN 20-0689362) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.