Civic Intelligence

American Bureau of Shipping Veba

EIN 20-8838129 • 501(c)9 • Spring, TX

Profile

The primary exempt purpose of the american bureau of shipping veba master trust is to provide benefits to eligible members as set forth in the american bureau of shipping master trust agreement.

1701 City Plaza DriveSpring, TX 77389

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

40th percentile

0.01x

Higher debt load relative to assets than 40% of similar nonprofits.

501(c)9 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2024

Net Margin

100th percentile

857%

Higher net margin than 100% of similar nonprofits.

501(c)9 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

46th percentile

$20,485

Higher top officer pay than 46% of similar nonprofits.

501(c)9 • $100M-$250M nonprofits • Source year 2024

Asset Growth

42nd percentile

5.1%

Faster asset growth than 42% of similar nonprofits.

501(c)9 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$119,114,873

Up $5,751,759 (+5.1%) from 2023

Liabilities

Down

$966,420

Down $898,211 (-48%) from 2023

Net Assets

Up

$118,148,453

Up $6,649,970 (+6.0%) from 2023

Operations
Liabilities / RevenueScore unavailableNet Margin100th percentile

Revenue

Down

-$708,939

Down $2,050,263 (-153%) from 2023

Expenses

Up

$5,369,543

Up $458,231 (+9.3%) from 2023

Net Income

Down

-$6,078,482

Down $2,508,494 (-70%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth42nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2011: $69,730,554Liabilities 2011: $12Net Assets 2011: $69,730,5422011Assets 2012: $80,439,575Liabilities 2012: $0Net Assets 2012: $80,439,5752012Assets 2013: $92,565,653Liabilities 2013: $604,594Net Assets 2013: $91,961,0592013Assets 2014: $95,355,211Liabilities 2014: $1,921,857Net Assets 2014: $93,433,3542014Assets 2015: $86,877,685Liabilities 2015: $1,868,608Net Assets 2015: $85,009,0772015Assets 2016: $95,102,452Liabilities 2016: $1,698,261Net Assets 2016: $93,404,1912016Assets 2017: $104,767,156Liabilities 2017: $3,465,331Net Assets 2017: $101,301,8252017Assets 2018: $94,400,800Liabilities 2018: $1,148,613Net Assets 2018: $93,252,1872018Assets 2019: $106,392,390Liabilities 2019: $2,149,392Net Assets 2019: $104,242,9982019Assets 2020: $110,480,038Liabilities 2020: $1,804,188Net Assets 2020: $108,675,8502020Assets 2021: $119,043,218Liabilities 2021: $2,487,505Net Assets 2021: $116,555,7132021Assets 2022: $102,894,459Liabilities 2022: $2,133,091Net Assets 2022: $100,761,3682022Assets 2023: $113,363,114Liabilities 2023: $1,864,631Net Assets 2023: $111,498,4832023Assets 2024: $119,114,873Liabilities 2024: $966,420Net Assets 2024: $118,148,4532024

Highlighted filing

2024

Assets$119,114,873
Liabilities$966,420
Net Assets$118,148,453
Open 2024 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0M-$10MRevenue 2011: $9,484,511Expenses 2011: $3,139,387Net Income 2011: $6,345,1242011Expenses 2012: $3,635,8652012Revenue 2013: $9,023,214Expenses 2013: $4,015,727Net Income 2013: $5,007,4872013Revenue 2014: $3,330,711Expenses 2014: $4,373,158Net Income 2014: -$1,042,4472014Revenue 2015: $9,835,022Expenses 2015: $7,362,501Net Income 2015: $2,472,5212015Revenue 2016: $9,465,728Expenses 2016: $5,445,437Net Income 2016: $4,020,2912016Revenue 2017: $7,355,068Expenses 2017: $6,025,341Net Income 2017: $1,329,7272017Revenue 2018: $2,897,830Expenses 2018: $6,138,830Net Income 2018: -$3,241,0002018Revenue 2019: $4,263,413Expenses 2019: $6,165,968Net Income 2019: -$1,902,5552019Revenue 2020: -$286,916Expenses 2020: $5,750,664Net Income 2020: -$6,037,5802020Revenue 2021: $1,144,099Expenses 2021: $5,473,862Net Income 2021: -$4,329,7632021Revenue 2022: -$49,819Expenses 2022: $4,678,095Net Income 2022: -$4,727,9142022Revenue 2023: $1,341,324Expenses 2023: $4,911,312Net Income 2023: -$3,569,9882023Revenue 2024: -$708,939Expenses 2024: $5,369,543Net Income 2024: -$6,078,4822024

Highlighted filing

2024

Revenue-$708,939
Expenses$5,369,543
Net Income-$6,078,482
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$119,114,873
Liabilities
$966,420
Net assets
$118,148,453
Revenue
-$708,939
Expenses
$5,369,543
Net income
-$6,078,482
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$119$0.97$118$0.71$5.37$6.08
2023Detailed filing. Detailed filing data is available for this year.$113$1.86$111$1.34$4.91$3.57
2022Detailed filing. Detailed filing data is available for this year.$103$2.13$101$0.05$4.68$4.73
2021Detailed filing. Detailed filing data is available for this year.$119$2.49$117$1.14$5.47$4.33
2020Detailed filing. Detailed filing data is available for this year.$110$1.80$109$0.29$5.75$6.04
2019Detailed filing. Detailed filing data is available for this year.$106$2.15$104$4.26$6.17$1.90
2018Detailed filing. Detailed filing data is available for this year.$94.4$1.15$93.3$2.90$6.14$3.24
2017Detailed filing. Detailed filing data is available for this year.$105$3.47$101$7.36$6.03$1.33
2016Detailed filing. Detailed filing data is available for this year.$95.1$1.70$93.4$9.47$5.45$4.02
2015Detailed filing. Detailed filing data is available for this year.$86.9$1.87$85.0$9.84$7.36$2.47
2014Summary only. Only limited summary data is available for this year.$95.4$1.92$93.4$3.33$4.37$1.04
2013Summary only. Only limited summary data is available for this year.$92.6$0.60$92.0$9.02$4.02$5.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$80.4$0.00$80.4$3.64
2011Summary only. Only limited summary data is available for this year.$69.7$0.00$69.7$9.48$3.14$6.35
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 3, 2025
Return Version
2024v5.2
Gross Receipts
$31,050,389
Mission and Program Overview

Mission

The primary exempt purpose of the american bureau of shipping veba master trust is to provide benefits to eligible members as set forth in the american bureau of shipping master trust agreement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$111,498,483$118,148,453▲ $6,649,970
Investments in Publicly Traded Securities$81,756,151$86,786,889▲ $5,030,738
Investments Other Securities$31,364,523$32,087,883▲ $723,360
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$113,363,114$119,114,873▲ $5,751,759
Other Assets Total$242,440$240,101▼ $2,339
Liabilities
Accounts Payable and Accrued Expenses$1,864,631$966,420▼ $898,211
Total Liabilities$1,864,631$966,420▼ $898,211
Net Assets / Fund Balance
Total Net Assets Fund Balance$111,498,483$118,148,453▲ $6,649,970
Total Liabilities and Net Assets / Fund Balance$113,363,114$119,114,873▲ $5,751,759

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$3,271,563--
Compensation and Service Providers
Top Officer Pay46th percentile

Employees

NameTitleFull / Part TimeBaseTotal
-TrusteeFT$20,485$20,485
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$233,243
Investment Income
$-942,182
Other Revenue
$0
Change in Net Assets
$-6,078,482

Audited Revenue Reconciliation

Revenue per Audited Statements
$-708,939
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$12,728,452
Total Revenue per Audited Statements
$12,019,513
Total Revenue per Form 990
$-708,939
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,071,280
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members$4,298,263--$4,298,263
Fees for Service Investment Mgmnt Fees-$1,071,280-$1,071,280
Total Functional Expenses$4,298,263$1,071,280$0$5,369,543

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,369,543
Total Expenses per Audited Statements$5,369,543
Total Expenses per Form 990$5,369,543
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The form 990 is prepared by an independent accountant and reviewed prior to filing by others at the sponsor who are responsible for the administration of the trust.”

Form 990, Part VI, Section C, Line 19

“The organization does not document the meetings held by the governing body section c, line 19 - documents, conflicts of interest policy, and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
American Bureau of Shipping Veba
EIN
20-8838129
Phone
2818776000
Address
1701 CITY PLAZA DRIVE, SPRING, TX 77389

Signing Officer

Name
William E Harlan
Title
CAO for Abs
Phone
2818776645
Signed
2025-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William E Harlan
Formed
2005
Legal Domicile
TX
Voting Board Members
1
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Mcconnell & Jones Llp
Address
4828 LOOP CENTRAL DRIVE SUITE 1000, HOUSTON, TX 77081
Preparer
Tene Thomas
Phone
7139681600
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The veba trust established under the plan to hold the plan's assets is intended to qualify pursuant of section 501(c)(9) of the internal revenue code ("the code"), and accordingly, the veba trust's net investment income is exempt from income taxes unless the investment income relates to unrelated business income under section 511 of the code. The veba trust has obtained an exemption letter dated march 4, 2009, from the internal revenue service, and the plan sponsor believes that the veba trust, as amended, continues to qualify and to operate in accordance with the applicable requirements of the code. Us gaap requires the plan administrator to evaluate uncertain tax positions taken by the plan. The financial statement effects of a tax position are recognized when the position is more likely than not, based on the technical merits, to be sustained upon examination by the irs. The plan administrator has analyzed the tax positions taken by the plan, and has concluded that as of december 31, 2024, there are no uncertain positions taken or expected to be taken. The plan has recognized no interest or penalties related to uncertain tax positions. The plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.”

Raw XML Appendix299 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/ActivityOrMissionDesc0THE PRIMARY EXEMPT PURPOSE OF THE AMERICAN BUREAU OF SHIPPING VEBA MASTER TRUST IS TO PROVIDE BENEFITS TO ELIGIBLE MEMBERS AS SET FORTH IN THE AMERICAN BUREAU OF SHIPPING MASTER TRUST AGREEMENT.
IRS990/AuditCommitteeInd00
IRS990/BenefitsToMembersGrp/ProgramServicesAmt04298263
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IRS990/BooksInCareOfDetail/PhoneNum08168718628
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0801 PENNSYLVANIA AVE 6TH FLOOR
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IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt04298263
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IRS990/CYInvestmentIncomeAmt0-942182
IRS990/CYOtherExpensesAmt01071280
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IRS990/CYTotalRevenueAmt0-708939
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IRS990/Desc0PAYMENT OF EMPLOYEE BENEFITS FOR ELIGIBLE EMPLOYEES AND DEPENDENTS UNDER THE AMERICAN BUREAU OF SHIPPING VEBA MASTER TRUST.
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IRS990/FeesForSrvcInvstMgmntFeesGrp/ManagementAndGeneralAmt01071280
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IRS990/Form990PartVIISectionAGrp/InstitutionalTrusteeInd0X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt020485
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/TitleTxt0TRUSTEE
IRS990/Form990ProvidedToGvrnBodyInd00
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IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
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IRS990/GainOrLossGrp/SecuritiesAmt0-2895767
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IRS990/GoverningBodyVotingMembersCnt01
IRS990/GrantsToIndividualsInd00
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IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt028863561
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IRS990/IndependentVotingMemberCnt00
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt01951757
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt01828
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt01953585
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt031364523
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt032087883
IRS990/InvestmentsPubTradedSecGrp/BOYAmt081756151
IRS990/InvestmentsPubTradedSecGrp/EOYAmt086786889
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0TX
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt031759328
IRS990/LoanOutstandingInd00
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IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
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IRS990/MissionDesc0THE PRIMARY EXEMPT PURPOSE OF THE AMERICAN BUREAU OF SHIPPING VEBA MASTER TRUST IS TO PROVIDE BENEFITS TO ELIGIBLE MEMBERS AS SET FORTH IN THE AMERICAN BUREAU OF SHIPPING MASTER TRUST AGREEMENT.
IRS990/MoreThan5000KToIndividualsInd00
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IRS990/NetAssetsOrFundBalancesBOYAmt0111498483
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IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-2895767
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-2895767
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt012728452
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
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IRS990/PartialLiquidationInd00
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IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0WILLIAM E HARLAN
IRS990/ProfessionalFundraisingInd00
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IRS990/ProgramServiceRevenueGrp/Desc0PARTICIPANT CONTRIBUTIONS
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IRS990ScheduleD/OtherSecuritiesGrp/Desc0LIMITED PARTNERSHIP INTEREST
IRS990ScheduleD/OtherSecuritiesGrp/Desc1INTEREST BEARING CASH
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE VEBA TRUST ESTABLISHED UNDER THE PLAN TO HOLD THE PLAN'S ASSETS IS INTENDED TO QUALIFY PURSUANT OF SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE ("THE CODE"), AND ACCORDINGLY, THE VEBA TRUST'S NET INVESTMENT INCOME IS EXEMPT FROM INCOME TAXES UNLESS THE INVESTMENT INCOME RELATES TO UNRELATED BUSINESS INCOME UNDER SECTION 511 OF THE CODE. THE VEBA TRUST HAS OBTAINED AN EXEMPTION LETTER DATED MARCH 4, 2009, FROM THE INTERNAL REVENUE SERVICE, AND THE PLAN SPONSOR BELIEVES THAT THE VEBA TRUST, AS AMENDED, CONTINUES TO QUALIFY AND TO OPERATE IN ACCORDANCE WITH THE APPLICABLE REQUIREMENTS OF THE CODE. US GAAP REQUIRES THE PLAN ADMINISTRATOR TO EVALUATE UNCERTAIN TAX POSITIONS TAKEN BY THE PLAN. THE FINANCIAL STATEMENT EFFECTS OF A TAX POSITION ARE RECOGNIZED WHEN THE POSITION IS MORE LIKELY THAN NOT, BASED ON THE TECHNICAL MERITS, TO BE SUSTAINED UPON EXAMINATION BY THE IRS. THE PLAN ADMINISTRATOR HAS ANALYZED THE TAX POSITIONS TAKEN BY THE PLAN, AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2024, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN. THE PLAN HAS RECOGNIZED NO INTEREST OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT AND REVIEWED PRIOR TO FILING BY OTHERS AT THE SPONSOR WHO ARE RESPONSIBLE FOR THE ADMINISTRATION OF THE TRUST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT DOCUMENT THE MEETINGS HELD BY THE GOVERNING BODY SECTION C, LINE 19 - DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM E HARLAN
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ReturnHeader/ReturnTs02025-11-03T07:32:19-06:00
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ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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