Ford Foundation Veba Trust: Nonprofit Profile, Financials & Form 990 (EIN 27-0904683)

Revenue by fiscal year
FY2020	$70K
FY2021	$1.4M
FY2022	$1.9M
FY2023	$2.1M
FY2024	$8.3M

Expenses by fiscal year
FY2020	$4.6M
FY2021	$5.2M
FY2022	$4.4M
FY2023	$5.4M
FY2024	$7.6M

Net assets by fiscal year
FY2020	$44.2M
FY2021	$45.0M
FY2022	$33.2M
FY2023	$33.1M
FY2024	$37.1M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2011.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

2 people listed on the 990; $25K paid to officers and key staff.

Part VII, Section A · reportable compensation

Vanguard Fiduciary Trust Co

Trustee (thru 12/12/2024)

$24,726Pt VII · Sec A

US Bank National Association

Trustee (as of 12/12/2024)

$0Pt VII · Sec A

Vanguard Fiduciary Trust Co’s $25K as Trustee (thru 12/12/2024) is at the 50th percentile of top reported officer pay among 305 $1–10M mutual/membership nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

Name	FY2024	FY2023	FY2022	FY2021	FY2020
Vanguard Fiduciary Trust Co	$24,726	$100,353	$106,574	$73,070	$60,217

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides medical, dental, and life benefits for eligible Ford Foundation retirees and their families.

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Provided by the organization

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1 program · in their own filed words · FY2024

01

The ford foundation retiree welfare plan is funded by the ford foundation through the ford foundation veba trust. The plan provides medical and dental insurance to retirees of the foundation and their eligible dependents. The plan also provides life insurance for retirees and pays those benefits to beneficiaries named by the retiree.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$8.3M

Ln 12

Fees for servicesLn 2g$7.2M

Investment incomeLn 3$1.1M

Money outPt IX

$7.6M

Ln 25

Owns and owesPt X

$37.1M

net assets · Ln 32

Total assetsLn 16$37.2M

LiabilitiesLn 26$6K

PeoplePt VI, VII

2

listed · VII A

PaidVII A1

Voting boardVI 1a1

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$7.2M

Investment incomeLn 3$1.1M

Gains on assetsLn 7$176K

Total revenueLn 12$8.3M

Assets in detailPt X, end of year

InvestmentsLn 11–13$37.2M

Total assetsLn 16$37.2M

LiabilitiesLn 26$6K

Net assetsLn 32$37.1M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
InvestmentsLn 11–13	$33.6M	$37.2M
Total assetsLn 16	$33.6M	$37.2M
LiabilitiesLn 26	$513K	$6K
Net assetsLn 32	$33.1M	$37.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Benefits paid to or for membersLn 4	$7.5M
Pay of current officers, directors and key staffLn 5	$26K
Accounting feesLn 11c	$29K
Other fees for servicesLn 11g	$35K
Total functional expensesLn 25	$7.6M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest Viewing	$8.3M	$7.6M	$656K	$37.1M	990 PDF
FY2023	$2.1M	$5.4M	−$3.3M	$33.1M	990 PDF
FY2022	$1.9M	$4.4M	−$2.5M	$33.2M	990 PDF
FY2021	$1.4M	$5.2M	−$3.8M	$45.0M	990 PDF
FY2020	$70K	$4.6M	−$4.5M	$44.2M	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2024 990 (6 parts)

Part I · Summary $8,281,560 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $0$7,165,707

I-10 Investment incomePrior year $2,056,539$1,115,853

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $2,056,539$8,281,560

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $5,257,634$7,536,442

I-15 Salaries and benefitsPrior year $80,214$25,574

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $53,683$63,246

I-18 Total expensesPrior year $5,391,531$7,625,262

I-19 Revenue less expensesPrior year −$3,334,992$656,298

Part VI · Governance 0 of 1 board members independent, 1 to look at

VI-1a Voting members of the governing body1

VI-1b Independent voting members0

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $8,281,560 across 4 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $7,165,707$7,165,707

VIII-3 Investment incomeExcluded from tax $939,801$939,801

VIII-7 Net gain or loss on sales of assetsExcluded from tax $176,052$176,052

VIII-12 Total revenueRelated to mission $7,165,707 · Unrelated business $0 · Excluded from tax $1,115,853$8,281,560

Part IX · Statement of functional expenses $7,625,262 across 4 lines filed

IX-4 Benefits paid to or for members$7,536,442

IX-5 Pay of current officers, directors and key staff$25,574

IX-11c Accounting fees$28,737

IX-11g Other fees for services$34,509

IX-25 Total functional expenses$7,625,262

Part X · Balance sheet $37,151,575 assets, 7 lines filed

X-11 Publicly traded securitiesStart of year $33,620,467$37,151,575

X-16 Total assetsStart of year $33,620,467$37,151,575

X-17 Accounts payable and accrued expensesStart of year $25,268$5,997

X-25 Other liabilitiesStart of year $488,199$0

X-26 Total liabilitiesStart of year $513,467$5,997

X-32 Total net assets or fund balancesStart of year $33,107,000$37,145,578

X-33 Total liabilities and net assetsStart of year $33,620,467$37,151,575

Part XI · Reconciliation of net assets $37,145,578 net assets at year end

XI-1 Total revenue$8,281,560

XI-2 Total expenses$7,625,262

XI-3 Revenue less expenses$656,298

XI-4 Net assets at start of year$33,107,000

XI-5 Net unrealized gains (losses) on investments$2,894,081

XI-9 Other changes in net assets$488,199

XI-10 Net assets at end of year$37,145,578

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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