Northrop Grumman Veba Master Trust I
Only null% goes to programs
Northrop Grumman Veba Master Trust I is a 501(c)(9) organization based in Quincy, Massachusetts, registered in 1988, with $1,343,837,543 in FY2024 revenue. CharityIndex grades it B+.
1776 Heritage Drive 3rd Floor, Quincy, MA, 02171 EIN 95-3386394 Since 1988
Revenue (FY2024)
$1.3B
▲ 1.6% vs prior year
Membership median: $185K
Expenses (FY2024)
$1.4B
Net assets
$248.6M
Employees
0
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
—Program efficiency40% of the ratingNo expense breakdown in filings
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. Not scored for Northrop Grumman Veba Master Trust I— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
BFinancial health25% of the rating2 mo reserves · -3% 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 Northrop Grumman Veba Master Trust I: 2 mo reserves · -3% margin earns a B on this criterion. See the exact thresholds →
AGovernance25% of the rating5 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 Northrop Grumman Veba Master Trust I: 5 of 6 checks met earns a A 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 Northrop Grumman Veba Master Trust I: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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Mission
The northrop grumman corporation veba master trust i ("veba i") provides health care and life insurance to eligible employees and their dependents as set forth in the northrop grumman corporation veba master trust i.
Contact & location
- Address
- 1776 Heritage Drive 3rd Floor, Quincy, MA, 02171
- City
- Quincy
- State
- Massachusetts
- Category
- Mutual & Membership Benefit
- Subcategory
- Insurance Providers
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $840.6M (FY2014) to $1.3B (FY2024) across 11 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $907KNet assets $248.6M
Operating margin
-2.5%
Spent more than it raised in the latest fiscal year.
Total assets
$249.5M
Total liabilities
$907K
Net assets
$248.6M
Salaries & benefits
$25K
0% of expenses
Board members
6
0 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $1,343,837,543▲1.6% | $1,377,708,990▲6.8% | $248,593,716▼12.8% | $249,501,213▼12.5% | 990 |
| 2023 | $1,322,069,327▲8.4% | $1,290,040,045▲4.6% | $284,986,652▲13.5% | $284,986,652▲13.4% | 990 |
| 2022 | $1,219,541,017▲0.5% | $1,232,951,184▲4.0% | $251,123,562▼5.4% | $251,344,738▼5.4% | 990 |
| 2021 | $1,213,531,994▲11.0% | $1,185,780,945▲9.2% | $265,532,792▲11.8% | $265,633,281▲11.3% | 990 |
| 2020 | $1,093,194,105▼1.5% | $1,085,983,807▼3.1% | $237,590,119▲3.3% | $238,661,584▲3.7% | 990 |
| 2019 | $1,110,354,782▲18.6% | $1,120,866,143▲22.2% | $230,042,473▼4.1% | $230,047,760▼4.9% | 990 |
| 2018 | $936,419,677▲5.7% | $917,420,302▲3.7% | $239,970,021▲8.4% | $241,805,926▲9.2% | 990 |
| 2017 | $885,831,630▲5.3% | $884,445,062▲7.0% | $221,387,933▲0.7% | $221,390,445▲0.7% | 990 |
| 2016 | $841,077,145▲1.5% | $826,731,724▼4.0% | $219,846,111▲7.9% | $219,921,821▲7.9% | 990 |
| 2015 | $828,966,969▼1.4% | $861,230,398▼0.9% | $203,763,873▼13.8% | $203,771,128▼13.8% | 990 |
| 2014 | $840,648,135 | $868,822,968 | $236,303,983 | $236,303,983 | 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: State Street Bank — $25,126 (0.00% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| State Street Bank | Trustee | 5 | $25,126 |
| Dennis Newberry | Invmt Committee Secretary | 0.5 | — |
| Eric Scholten | Invmt Committee Chair | 0.5 | — |
| Ingrid Vaughan | Invmt Committee Member | 0.5 | — |
| Jeff Schmidt | Invmt Committee Member | 0.5 | — |
| Richard Boak | Invmt Committee Member | 0.5 | — |
| Sunil Navale | Invmt Committee Member | 0.5 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Anthem Blue Cross | Medical Claims | $744,713,631 |
| Cvs Caremark | Self Insurance Claims | $285,454,050 |
| Kaiser Foundation Health Plan | Medical Claims | $119,741,230 |
| Metlife | Self Insurance Claims | $82,086,548 |
| American Family Life Assurance Company | Self Insurance Claims | $76,609,849 |
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Compare Northrop Grumman Veba Master Trust I
Frequently asked questions
- Is Northrop Grumman Veba Master Trust I a legitimate nonprofit?
- Yes. Northrop Grumman Veba Master Trust I is a 501(c)(9) organization registered with the U.S. Internal Revenue Service under EIN 95-3386394, based in Quincy, Massachusetts.
- What is Northrop Grumman Veba Master Trust I's EIN?
- Northrop Grumman Veba Master Trust I's Employer Identification Number (EIN) is 95-3386394.
- How much revenue does Northrop Grumman Veba Master Trust I report?
- Northrop Grumman Veba Master Trust I reported $1,343,837,543 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Northrop Grumman Veba Master Trust I have?
- CharityIndex grades Northrop Grumman Veba Master Trust I B+, based on financial health (reserves and operating margin).
- How much does Northrop Grumman Veba Master Trust I's highest-paid employee make?
- The highest reported compensation on Northrop Grumman Veba Master Trust I's latest Form 990 is $25,126, paid to State Street Bank (Trustee).
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Data for Northrop Grumman Veba Master Trust I (EIN 95-3386394) 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.