Form 990 for tax year 2024
Filed by NORTHROP GRUMMAN VEBA MASTER TRUST I.
Totals
- Total revenue
- $1,343,837,543
- Total expenses
- $1,377,708,990
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $1,324,643,252
- Investment income
- $19,147,462
- Other revenue
- $46,829
- Total assets, end of year
- $249,501,213
- Total liabilities, end of year
- $907,497
- Net assets or fund balances, end of year
- $248,593,716
- 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: EMPLOYER CONTRIBUTIONS
total $884,619,132 · related or exempt $884,619,132
-
2b · Program service revenue: EMPLOYEE CONTRIBUTIONS
total $412,327,762 · related or exempt $412,327,762
-
2c · Program service revenue: OTHER CONTRIBUTIONS
total $27,696,358 · related or exempt $27,696,358
-
3 · Investment income
total $12,812,385 · unrelated business $12,812,385
-
7a · Gross sales of assets other than inventory
securities $236,089,105
-
7b · Less cost or other basis and sales expenses
securities $229,754,028
-
7c · Gain or loss
securities $6,335,077
-
7d · Net gain or loss
total $6,335,077 · unrelated business $6,335,077
-
11a · Other revenue: STOCK LOAN INCOME
total $36,211 · unrelated business $36,211
-
11b · Other revenue: OTHER INVESTMENT INCOM
total $10,618 · unrelated business $10,618
-
11e · Other revenue, total
$46,829
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $1,295,563,583
-
5 · Compensation of officers, directors and key employees
total $25,126
-
11b · Fees: legal
total $218,422
-
11c · Fees: accounting
total $293,744
-
11f · Fees: investment management
total $39,379
-
11g · Fees: other
total $6,896,104
-
14 · Information technology
total $294,867
-
24a · Other expenses: TAX EXPENSE
total $8,881,351
-
24b · Other expenses: ADMIN EXP & ASO FEES
total $65,389,780
-
24c · Other expenses: TEMPORARY HELP
total $102,150
-
24d · Other expenses: MISCELLANEOUS EXPENSE
total $3,330
-
24e · All other expenses
total $1,154
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $0 · end of year $2,382,219
-
2 · Savings and temporary cash investments
beginning of year $196,286,550 · end of year $154,304,657
-
11 · Investments: publicly traded securities
beginning of year $86,089,058 · end of year $92,063,628
-
15 · Other assets
beginning of year $2,611,044 · end of year $750,709
-
25 · Other liabilities
beginning of year $0 · end of year $907,497
-
29 · Capital stock, trust principal or current funds
beginning of year $284,986,652 · end of year $248,593,716
-
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 $0 · end of year $0
Mission and programs · 2024
Mission
THE PRIMARY PURPOSE OF VEBA I ("VEBA I") IS TO PROVIDE HEALTH CARE AND LIFE INSURANCE BENEFITS TO ELIGIBLE EMPLOYEES AND THEIR DEPENDENTS AS SET FORTH IN THE NORTHROP GRUMMAN CORPORATION VEBA MASTER TRUST I.
Activities or mission (Part I)
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.
-
PAYMENT OF HEALTH CARE AND LIFE INSURANCE CLAIMS FOR ELIGIBLE EMPLOYEES AND THEIR DEPENDENTS UNDER THE NORTHROP GRUMMAN CORPORATION VEBA MASTER TRUST I.
As filed on the 2024 return.
Listed in Part VII
-
Eric ScholtenERIC SCHOLTEN
INVMT COMMITTEE CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
Dennis NewberryDENNIS NEWBERRY
INVMT COMMITTEE SECRETARY
- Total calculated
- $0
- Hours/week
- 0.5
-
Richard BoakRICHARD BOAK
INVMT COMMITTEE MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Jeff SchmidtJEFF SCHMIDT
INVMT COMMITTEE MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Sunil NavaleSUNIL NAVALE
INVMT COMMITTEE MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Ingrid VaughanINGRID VAUGHAN
INVMT COMMITTEE MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
State Street BankSTATE STREET BANK
TRUSTEE
- Total calculated
- $25,126
- From this org
- $25,126
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
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.
Grants on this return
No itemized grants to organizations on this return.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
NORTHROP GRUMMAN CORPORATION
C · GLOBAL SECURITY COMPANY PROVIDING INNOVATIVE SYSTEMS WORLDWIDE · CA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 10 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202513149349302796
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.