Fu Associates Ltd Veba Trust

IRS exemption revoked

Arlington, VAUnknown exempt organizationEIN 54-6299821

The organization's primary exempt purpose is to provide healthcare and other benefits to employees of fu associates, ltd.

Mission: Form 990 Part I, line 1

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 3
filings with a surplus
Average deficit $72K a year · 20% of revenue · last 3 filings
Concern: a surplus in 0 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Cash reserves
4 mo
of spending, in cash
Looks good: 4.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 1 voting members
Concern: none of 1 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$300K
-25% vs prior year
Spent
$336K
Net assets
$121K
By yearFY2020–FY2022
Revenue
$300K
FY2022▼ -25%
Revenue by fiscal year
FY2020$401K
FY2021$401K
FY2022$300K
Expenses
$336K
FY2022▼ -25%
Expenses by fiscal year
FY2020$534K
FY2021$450K
FY2022$336K
Net assets
$121K
FY2022▼ -23%
Net assets by fiscal year
FY2020$206K
FY2021$157K
FY2022$121K

From the FY2022 Form 990 (year ending March 2022) · see the original

IRS revoked this organization's tax-exempt status on August 15, 2025

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2022.

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

Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Trustee
$0Pt VII · Sec A
See Fu Associates Ltd Veba Trust executive salaries →

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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 healthcare and benefits to employees of FU Associates, Ltd.

Provided by the organization

This section is blank until Fu Associates Ltd Veba Trust claims this page.

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1 program service, described in the organization's own filed words · FY2021.
01

The trust provides healthcare, life insurance, accident disability and other employee benefits. Only employees and their participating dependents of the company who are eligible to participate in the plan may receive benefits from the trust.

Pt IX · col B

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By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$300K
Ln 12
Fees for servicesLn 2g$300K
Investment incomeLn 3$452
Money outPt IX
$336K
Ln 25
Owns and owesPt X
$121K
net assets · Ln 32
Cash and savingsLn 1–2$121K
Total assetsLn 16$121K
LiabilitiesLn 26$0
PeoplePt VI, VII
1
listed · VII A
PaidVII A0
Voting boardVI 1a1
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$300K
Investment incomeLn 3$452
Total revenueLn 12$300K
Assets in detailPt X, end of year
CashLn 1$402
SavingsLn 2$121K
Cash and savings togetherLn 1–2$121K
Total assetsLn 16$121K
LiabilitiesLn 26$0
Net assetsLn 32$121K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$157K$121K
Total assetsLn 16$157K$121K
LiabilitiesLn 26$0$0
Net assetsLn 32$157K$121K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$336K
Office expensesLn 13$50
Total functional expensesLn 25$336K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest Viewing $300K$336K−$35K$121K 990 PDF
FY2021 $401K$450K−$49K$157K 990 PDF
FY2020 $401K$534K−$133K$206K 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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $300,452 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $300,000$300,000
VIII-3 Investment incomeUnrelated business $452$452
VIII-12 Total revenueRelated to mission $300,000 · Unrelated business $452 · Excluded from tax $0$300,452
Part IX · Statement of functional expenses $335,763 across 2 lines filed
IX-4 Benefits paid to or for members$335,713
IX-13 Office expenses$50
IX-25 Total functional expenses$335,763
Part X · Balance sheet $121,308 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $402$402
X-2 Savings and temporary cash investmentsStart of year $156,217$120,906
X-16 Total assetsStart of year $156,619$121,308
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $156,619$121,308
X-33 Total liabilities and net assetsStart of year $156,619$121,308
Part XI · Reconciliation of net assets $121,308 net assets at year end
XI-1 Total revenue$300,452
XI-2 Total expenses$335,763
XI-3 Revenue less expenses−$35,311
XI-4 Net assets at start of year$156,619
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$121,308

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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