2025-12-02T21:06:27-06:00 2025-06-30 910614823 SCHOEDEL & SCHOEDEL CPAS PLLC 422 W RIVERSIDE AVE STE 1420 SPOKANE WA 992010395 990 2024-07-01 911214669 VEBA Trust for Public Employees in the State of WA VOLU 5098385571 221 N Wall Street 201 Spokane WA 99201 Greg Baker Chairman 5098385571 2025-12-02 1 1 SCOTT OPPERUD CPA P00542597 5097472158 2025-11-03 2024 2025-03-06 01:10:19Z Greg Baker 221 N Wall Street 201 Spokane WA 99201 507196171 0 X www.veba.org X 1983 WA The VEBA Trust provides high-quality, tax advantaged health reimbursement plans for public employees in Washington. 6 6 0 0 0 0 0 0 92846928 100468060 19342747 28741537 6431 157369 112196106 129366966 0 0 74986202 82559616 0 0 0 0 0 7399770 8034119 82385972 90593735 29810134 38773231 583199907 651176790 2966638 2156968 580233269 649019822 To provide high-quality, tax-advantaged health reimbursement plans for public employees in Washington. 0 0 This trust holds the assets of the Voluntary Employees' Beneficiary Association Trust Plan for Public Employees of the State of Washington (the Plan). The Plan provides a method of funding qualified health and welfare costs to its participants and their dependents. 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 735 0 1 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X Gallagher Benefit Services Inc 5098385571 221 N Wall Street Suite 201 Spokane WA 99201 X X Greg Baker Chair 1.00 X X 0 0 0 Mathew Knott Vice Chair 1.00 X X 0 0 0 Shane Backlund Secretary 1.00 X X 0 0 0 Maria Breuder Treasurer 1.00 X X 0 0 0 Cameron Grow Trustee (resigned) 1.00 X 0 0 0 Elaine Thompson Trustee 1.00 X 0 0 0 Heather Renner Trustee 1.00 X 0 0 0 0 0 0 0 0 0 0 Arthur J Gallagher & Co 221 N Wall Street Suite 201 Spokane WA 99201 Consulting, marketing and client svc,cus 4373421 OneBridge Benefits 170 Franklin St Suite 700 Buffalo NY 14202 Software admin. claims and eligibility a 2470802 Goldman Sachs Asset Management 100 Bank St Burlington VT 05401 Investment consulting services 202471 Washington Trust Bank Wealth Management PO Box 2127 Spokane WA 99210 Investment,custodial,and banking service 157423 Katten Muchin Rosenman LLP 525 W Monroe St Chicago IL 60661 Legal Representation 109271 5 Plan contributions 525100 100468060 100468060 100468060 16479811 16479811 390090931 377829205 12261726 12261726 12261726 Forfeitures 525100 154083 154083 Other income 525100 3286 3286 157369 129366966 100625429 0 28741537 82559616 3136627 109271 37860 385400 3709439 178636 21604 59484 PCORI fee 389304 Bank charges 6494 90593735 3355250 2863293 1243652 3032346 6274360 6147157 28272 49014 441743436 506971266 130554937 132113714 583199907 651176790 1272792 1044706 1693846 1112262 2966638 2156968 X 580233269 649019822 580233269 649019822 583199907 651176790 X 38773231 30020069 -6747 X 0 1 X 0 0 0 Cash surrender value of life insurance 895024 F Synthetic guaranteed investment contracts 131218690 C 132113714 159380288 30020069 -6747 30013322 129366966 0 129366966 90593735 0 90593735 0 90593735 Part XI, Line 2d - Other Adjustments: Net decrease in accumulated cash surrender value of life insurance policies -6,747. Form 990, Part VI, Section A, line 7a WASA, AWSP and WASBO each appoint two Trustees to the Board of the Trustees. Form 990, Part VI, Section B, line 11b The Form 990 was prepared by the independent accounting firm of SCHOEDEL & SCHOEDEL, Certified Public Accountants, PLLC based on information provided by the third-party administrators. Draft copies of the Trust's financial statements and Form 990 were first provided to the Trust's consultants and advisors, who reviewed the Form 990 for accuracy and completeness. Any questions, concerns or issues raised by the consultants and advisors were addressed and any necessary revisions were made to the Form 990. The revised Form 990 was then provided to the Board of Trustees for its review and approval. Any additional questions, concerns, or issues raised by the Board of Trustees were addressed, and any necessary revisions were made to the Form 990. The final version of the Form 990 was reviewed, approved, and authorized to be filed by the Board of Trustees. Form 990, Part VI, Section B, line 12c Trustees, service providers, third-party administrators, or any other person having responsibility for the management or administration of the Trust's finances, investments, or other proprietary information concerning the Trust are considered interested persons. An interested person is under a continuing obligation to disclose any potential conflict of interest to the Board of Trustees as soon as it is known or reasonably should be known. The interested person is given the opportunity to disclose all material facts to the Trustees when considering the proposed transaction or arrangement. After disclosure of the financial, professional, or personal interest and all material facts, and after any discussion with the interested person, he/she leaves the Trustees meeting while the determination of a conflict of interest is considered. If the disinterested Trustees determine a conflict of interest exists, the Chairman of the Board, if appropriate, appoints a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the Trustees determine whether the Trust can obtain, with reasonable efforts, a more advantageous transaction or arrangement with a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the Board or committee determines by majority vote of the disinterested Trustees whether the transaction agreement or arrangement is in the Trust's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination the Trustees decide whether or not to enter into the transaction, agreement or arrangement. The minutes of the meeting reflect that the conflict disclosure was made to the Board, the vote taken and, where applicable, the abstention from voting and participation by the interested party. Whenever possible, the minutes frame the decision of the Board in such a way to provide guidance for consideration of future conflict of interest situations. To ensure the Trust operates in a manner consistent with its tax-exempt purposes and does not engage in activities that could jeopardize its tax-exempt status, the Board of Trustees conducts periodic reviews. The periodic reviews include, at a minimum, the following subjects: Whether the contractual arrangements with service providers and the services provided are reasonable, based on competent market and survey information, and the result of arm's length negotiation; Whether contractual arrangements with service providers and arrangements with other organizations conform to written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further tax-exempt purposes, and do not result in inurement, impermissible private benefit or in an excess benefit transaction; and Whether any transaction conducted by the Trust during the review period involves or could possibly give rise to a conflict of interest. Form 990, Part VI, Section B, line 15 There are no compensated management officials, officers or key employees of the Trust. If the Trust had such compensated individuals, policies and procedures would be developed to determine compensation. Form 990, Part VI, Section C, line 19 The Trust makes its governing documents, conflict of interest policy, financial statements, and Form 990 available to the public upon written request by contacting the Trust at 221 N Wall Street, Suite 201, Spokane, WA 99201. Form 990, Part VII, Section A, Line 1a: The Trust does not compensate the members of the Board of Trustees for their duties as Trustees. The Board of Trustees is comprised of six individuals, all of whom are superintendents, principals or heads of business offices in schools in the State of Washington. In their roles as Trustees, all are fiduciaries and understand their obligations under the Trust Agreement and the Trust's policies and procedures, which include a conflict-of-interest policy. The Trust does not readily have access to information related to any compensation paid by other entities to the Trustees. The Trustees serve on a voluntary basis, and receive no known compensation adjustment from their employers, or any other party, for their services on the Board. Form 990, Part XI, line 9: Net decrease in accumulated cash surrender value of life insurance policies -6,747. 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