Northrop Grumman Innovation Systems Veba: Nonprofit Profile, Financials & Form 990 (EIN 41-1683428)

Revenue by fiscal year
FY2020	$271K
FY2021	$499K
FY2022	$42K
FY2023	$98K
FY2024	$7.0M

Expenses by fiscal year
FY2020	$2.5M
FY2021	$2.4M
FY2022	$1.8M
FY2023	$1.6M
FY2024	$2.6M

Net assets by fiscal year
FY2020	$26.6M
FY2021	$24.4M
FY2022	$19.1M
FY2023	$18.7M
FY2024	$0

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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; $16K paid to officers and key staff.

Part VII, Section A · reportable compensation

US Bank

Trustee

$15,540Pt VII · Sec A

US Bank

Trustee

$0Pt VII · Sec A

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

Name	FY2024	FY2023	FY2022	FY2021	FY2020
US Bank	$15,540	$15,650	$17,858	$19,623	$19,489

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.

See Northrop Grumman Innovation Systems Veba executive salaries →

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 and life insurance benefits to eligible retirees and their dependents.

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1 program · in their own filed words · FY2024

01

Provided medical and life insurance benefits to eligible reitrees and their dependents under the northrop grumman innovation systems, inc. Benefit programs. Total benfits paid (or for the benefit of) participants and their dependents during the year were $898,734.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$7.0M

Ln 12

Investment incomeLn 3$7.0M

Money outPt IX

$2.6M

Ln 25

Owns and owesPt X

$0

net assets · Ln 32

Total assetsLn 16$0

LiabilitiesLn 26$0

PeoplePt VI, VII

2

listed · VII A

PaidVII A1

Voting boardVI 1a1

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Investment incomeLn 3$7.0M

Gains on assetsLn 7$6.8M

Total revenueLn 12$7.0M

Assets in detailPt X, end of year

SavingsLn 2$0

InvestmentsLn 11–13$0

Total assetsLn 16$0

LiabilitiesLn 26$0

Net assetsLn 32$0

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aNo

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
Cash and savingsLn 1–2	$0	$0
InvestmentsLn 11–13	$19.5M	$0
Total assetsLn 16	$20.0M	$0
LiabilitiesLn 26	$1.4M	$0
Net assetsLn 32	$18.7M	$0

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Benefits paid to or for membersLn 4	$899K
Pay of current officers, directors and key staffLn 5	$16K
Accounting feesLn 11c	$212K
Investment management feesLn 11f	$46K
Other expenses (24a–d)Ln 24	$1.4M
Total functional expensesLn 25	$2.6M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest ViewingFiled with the IRS Nov 13, 2025	$7.0M	$2.6M	$4.4M	$0	990 PDF
FY2023Filed with the IRS Nov 11, 2024	$98K	$1.6M	−$1.5M	$18.7M	990 PDF
FY2022Filed with the IRS Nov 3, 2023	$42K	$1.8M	−$1.7M	$19.1M	990 PDF
FY2021Filed with the IRS Nov 11, 2022	$499K	$2.4M	−$1.9M	$24.4M	990 PDF
FY2020Filed with the IRS Nov 15, 2021	$271K	$2.5M	−$2.2M	$26.6M	990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations

See the full FY2024 990 (6 parts)

Part I · Summary $7,003,957 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $97,831$7,003,957

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $97,831$7,003,957

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

I-14 Benefits paid to membersPrior year $1,099,292$898,734

I-15 Salaries and benefitsPrior year $15,650$15,540

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

I-17 Other expensesPrior year $520,532$1,657,903

I-18 Total expensesPrior year $1,635,474$2,572,177

I-19 Revenue less expensesPrior year −$1,537,643$4,431,780

Part VI · Governance 0 of 1 board members independent, 2 to look at

VI-1a Voting members of the governing body1

VI-1b Independent voting members0

VI-12a Written conflict of interest policyNo

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

VI-2 Family or business relationship among officers or directorsNo

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $7,003,957 across 3 lines filed

VIII-3 Investment incomeUnrelated business $241,055$241,055

VIII-7 Net gain or loss on sales of assetsUnrelated business $6,762,902$6,762,902

VIII-12 Total revenueRelated to mission $0 · Unrelated business $7,003,957 · Excluded from tax $0$7,003,957

Part IX · Statement of functional expenses $2,572,177 across 5 lines filed

IX-4 Benefits paid to or for members$898,734

IX-5 Pay of current officers, directors and key staff$15,540

IX-11c Accounting fees$212,167

IX-11f Investment management fees$45,736

IX-24 Other expenses (24a–d)$1,400,000

IX-25 Total functional expenses$2,572,177

Part X · Balance sheet $0 assets, 9 lines filed

X-2 Savings and temporary cash investmentsStart of year $0$0

X-9 Prepaid expenses and deferred chargesStart of year $539,622$0

X-12 Other securitiesStart of year $19,486,132$0

X-16 Total assetsStart of year $20,025,754$0

X-17 Accounts payable and accrued expensesStart of year $53,198$0

X-25 Other liabilitiesStart of year $1,317,305$0

X-26 Total liabilitiesStart of year $1,370,503$0

X-32 Total net assets or fund balancesStart of year $18,655,251$0

X-33 Total liabilities and net assetsStart of year $20,025,754$0

Part XI · Reconciliation of net assets $0 net assets at year end

XI-1 Total revenue$7,003,957

XI-2 Total expenses$2,572,177

XI-3 Revenue less expenses$4,431,780

XI-4 Net assets at start of year$18,655,251

XI-5 Net unrealized gains (losses) on investments−$6,776,301

XI-9 Other changes in net assets−$16,310,730

XI-10 Net assets at end of year$0

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

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