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Nonprofiteer
← NAAA@VEBA BENEFIT TRUST

Form 990 for tax year 2023

Filed by NAAA@VEBA BENEFIT TRUST.

Totals

Total revenue
$260,208
Total expenses
$132,115
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$260,208
Other revenue
$0
Total assets, end of year
$3,507,084
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$3,507,084
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.

  • 3 · Investment income

    total $1,264 · excluded $1,264

  • 4 · Income from investment of tax-exempt bond proceeds

    total $90,111 · excluded $90,111

  • 7a · Gross sales of assets other than inventory

    securities $548,666

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

    securities $379,833

  • 7c · Gain or loss

    securities $168,833

  • 7d · Net gain or loss

    total $168,833 · excluded $168,833

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $96,614

  • 11a · Fees: management

    total $8,250

  • 11f · Fees: investment management

    total $27,151

  • 24a · Other expenses: ANNUAL PLAN FEE

    total $100

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $97,628 · end of year $4,248

  • 4 · Accounts receivable

    beginning of year $2,917 · end of year $3,342

  • 11 · Investments: publicly traded securities

    beginning of year $3,108,414 · end of year $3,499,494

  • 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 $3,208,959 · end of year $3,507,084

Mission and programs · 2023

Mission

NAAA VEBA BENEFIT TRUST (THE TRUST) IS A VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION WHOSE PRIMARY EXEMPT PURPOSE IS TO PROVIDE GROUP HEALTH BENEFITS AND MEDICARE PART-D COVERAGE FOR ELIGIBLE RETIREES OF THE NAVAL ACADEMY ATHLETIC ASSOCIATION.

Activities or mission (Part I)

TO PROVIDE GROUP HEALTH BENEFITS FOR ELIGIBLE RETIREES OF THE NAVAL ACADEMY ATHLETIC ASSOCIATION.

  • TO PROVIDE GROUP HEALTH BENEFITS AND MEDICARE PART-D COVERAGE FOR ELIGIBLE RETIREES OF THE NAVAL ACADEMY ATHLETIC ASSOCIATION.

As filed on the 2023 return.

Listed in Part VII

  • Chet Gladchuk

    NAAA PRESIDENT

    Total calculated
    $1,015,670
    From this org
    $0
    From related orgs
    $977,472
    Other
    $38,198
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $977,472 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $30,000 related
    Nontaxable benefits
    $0 + $8,198 related
    Filer's total
    $0 + $1,015,670 related

  • M Colleen Jordan

    NAAA CFO/TREASURER

    Total calculated
    $254,781
    From this org
    $0
    From related orgs
    $220,174
    Other
    $34,607
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $220,174 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $30,000 related
    Nontaxable benefits
    $0 + $4,607 related
    Filer's total
    $0 + $254,781 related

  • Comerica Bank & Trust Na

    TRUSTEE

    Total calculated
    $8,250
    From this org
    $8,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 3
THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE SUPERINTENDENT OF THE UNITED STATES NAVAL ACADEMY. THE PRESIDENT DETERMINES COMPENSATION OF CHIEF FINANCIAL OFFICER/TREASURER.

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
12 November 2024
IRS schema version
2023v5.1
Source object
202433199349300108

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