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← NAAA@VEBA BENEFIT TRUST

Form 990 for tax year 2024

Filed by NAAA@VEBA BENEFIT TRUST.

Totals

Total revenue
$385,774
Total expenses
$137,559
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$69
Investment income
$385,705
Other revenue
$0
Total assets, end of year
$3,818,633
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$3,818,633
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: CONTRIBUTIONS/RECEIPTS

    total $69 · related or exempt $69

  • 3 · Investment income

    total $2,752 · excluded $2,752

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

    total $159,613 · excluded $159,613

  • 7a · Gross sales of assets other than inventory

    securities $775,729

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

    securities $552,389

  • 7c · Gain or loss

    securities $223,340

  • 7d · Net gain or loss

    total $223,340 · excluded $223,340

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $105,127

  • 11a · Fees: management

    total $8,250

  • 11f · Fees: investment management

    total $24,182

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $4,248 · end of year $83,674

  • 4 · Accounts receivable

    beginning of year $3,342 · end of year $3,507

  • 11 · Investments: publicly traded securities

    beginning of year $3,499,494 · end of year $3,731,452

  • 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 $3,507,084 · end of year $3,818,633

Mission and programs · 2024

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 2024 return.

Listed in Part VII

  • Chet Gladchuk

    NAAA PRESIDENT

    Total calculated
    $1,027,644
    From this org
    $0
    From related orgs
    $965,726
    Other
    $61,918
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $965,726 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $56,650 related
    Nontaxable benefits
    $0 + $5,268 related
    Filer's total
    $0 + $1,027,644 related

  • M Colleen Jordan

    NAAA CFO/TREASURER

    Total calculated
    $280,562
    From this org
    $0
    From related orgs
    $237,122
    Other
    $43,440
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $237,122 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $37,700 related
    Nontaxable benefits
    $0 + $5,740 related
    Filer's total
    $0 + $280,562 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
2024
Filed
10 November 2025
IRS schema version
2024v5.2
Source object
202513169349309201

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