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← AMERICAN BANKERS ASSOCIATION VOLUNTARY EMPLOYEE BENEFIT ASSN

Form 990 for tax year 2023

Filed by AMERICAN BANKERS ASSOCIATION VOLUNTARY EMPLOYEE BENEFIT ASSN.

Totals

Total revenue
$779,358
Total expenses
$1,696,963
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$200,011
Investment income
$579,347
Other revenue
$0
Total assets, end of year
$16,181,371
Total liabilities, end of year
$106,903
Net assets or fund balances, end of year
$16,074,468
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: PLAN CONTRIBUTIONS

    total $200,011 · related or exempt $200,011

  • 3 · Investment income

    total $431,175 · excluded $431,175

  • 7a · Gross sales of assets other than inventory

    securities $1,275,453

  • 7b · Less cost or other basis and sales expenses

    securities $1,127,281

  • 7c · Gain or loss

    securities $148,172

  • 7d · Net gain or loss

    total $148,172 · excluded $148,172

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,574,801

  • 5 · Compensation of officers, directors and key employees

    total $14,239

  • 11c · Fees: accounting

    total $54,928

  • 11f · Fees: investment management

    total $7,747

  • 11g · Fees: other

    total $45,248

Balance sheet

Part X, book values.

  • 11 · Investments: publicly traded securities

    beginning of year $15,418,905 · end of year $16,170,957

  • 15 · Other assets

    beginning of year $1,740 · end of year $10,414

  • 17 · Accounts payable and accrued expenses

    beginning of year $21,498 · end of year $7,352

  • 25 · Other liabilities

    beginning of year $42,804 · end of year $99,551

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $15,356,343 · end of year $16,074,468

Mission and programs · 2023

Mission

ABA VEBA IS A VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION OF THE AMERICAN BANKERS ASSOCIATION. THE MAIN ACTIVITIES OF THE ABA VEBA IS TO PROVIDE MEDICAL AND INSURANCE BENEFITS TO ABA'S RETIREES AND THEIR BENEFICIARIES.

Activities or mission (Part I)

A VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION OF THE AMERICAN BANKERS ASSOCIATION.

  • PROVISION OF MEDICAL AND INSURANCE BENEFITS FOR RETIREES AND BENEFICIARIES.

As filed on the 2023 return.

Listed in Part VII

  • Northern Trust Company

    TRUSTEE

    Total calculated
    $14,239
    From this org
    $14,239
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Karin Petersen Flynn

    CHIEF FINANCIAL OFFICER

    Total calculated
    $735,518
    From this org
    $0
    From related orgs
    $629,791
    Other
    $105,727
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $508,841 related
    Bonus
    $0 + $103,880 related
    Other
    $0 + $17,070 related
    Deferred
    $0 + $75,209 related
    Nontaxable benefits
    $0 + $30,518 related
    Filer's total
    $0 + $735,518 related

  • Alethia Baggett

    CHIEF HUMAN RESOURCES OFFICER

    Total calculated
    $629,781
    From this org
    $0
    From related orgs
    $559,685
    Other
    $70,096
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $428,839 related
    Bonus
    $0 + $88,192 related
    Other
    $0 + $42,654 related
    Deferred
    $0 + $39,600 related
    Nontaxable benefits
    $0 + $30,496 related
    Filer's total
    $0 + $629,781 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
THE TWO EMPLOYEES LISTED PARTICIPATE IN A NON QUALIFIED SUPPLEMENTAL EMPLOYEE RETIREMENT PLAN PROVIDED BY A RELATED ORGANIZATION, AMERICAN BANKERS ASSOCIATION (ABA). THE CURRENT YEAR ADDITIONAL ACCRUED BENEFITS WERE: ALETHIA BAGGETT - $ 24,251 KARIN PETERSEN FLYNN - $ 35,609

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
5 November 2024
IRS schema version
2023v5.1
Source object
202423119349302122

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