2020-10-08T17:13:09-05:00 2020-06-30 910614823 SCHOEDEL & SCHOEDEL CPAS PLLC 422 W RIVERSIDE AVE STE 1420 SPOKANE WA 992010395 990 2019-07-01 911214669 VEBA Trust for Public Employees in the State of WA VOLU 5098385571 906 W 2nd Avenue No 400 Spokane WA 992014502 Wayne Leonard Chairman, Board of Trustees 5098385571 2020-10-01 1 SCOTT OPPERUD CPA P00542597 5097472158 2020-10-02 207.114.231.3 2020-10-08 15:12:48 PD P D4B8F225163F68D66B50B679573CB2B2915B78A4 5A33E1DD1FD3A695AA7A5714865FC508C51129E1 2019 2021-04-22 16:20:28Z Wayne Leonard 906 W 2nd Avenue No 400 Spokane WA 992014502 264524689 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 65246684 90229472 17156326 14443650 2205 66433 82405215 104739555 0 0 47417232 50011716 0 0 0 0 0 5150755 5644149 52567987 55655865 29837228 49083690 347076174 401674646 4713438 1587113 342362736 400087533 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 1 0 0 0 0 0 1 0 0 1 196 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 Arthur J Gallagher & Co 5098385571 906 W 2nd Avenue Suite 400 Spokane WA 99201 X X Wayne Leonard Chairman 2.00 X X 0 0 0 Amy Fleming Vice Chairman 1.00 X X 0 0 0 Dr Mike Dunn Secretary 1.00 X X 0 0 0 Ken Schutz Treasurer 2.00 X X 0 0 0 Maria Breuder Trustee 1.00 X 0 0 0 Greg Baker Trustee 1.00 X 0 0 0 0 0 0 0 0 0 0 Arthur J Gallagher & Co 906 West 2nd Avenue Suite 400 Spokane WA 99201 Consulting, marketing and client svc,cus 3420217 Empire Innovation Group LLC 410 Main Street Suite 5 Buffalo NY 14202 Software admin. claims and eligibility a 1392145 Kaye-Smith 4101 Oakesdale Ave SW Renton WA 98057 General office services 182404 Goldman Sachs Asset Management 100 Bank St Burlington VT 05401 Investment consulting services 143090 Washington Trust Bank Wealth Management PO Box 2127 Spokane WA 99210 Investment,custodial,and banking service 113094 5 Plan contributions 525100 90229472 90229472 90229472 10017644 10017644 164211140 159785134 4426006 4426006 4426006 Other income 525100 66433 66433 66433 104739555 90295905 0 14443650 50011716 1831001 53841 33000 279302 2981361 226333 18796 16400 PCORI fee 204115 55655865 1527962 2020170 4706303 6609630 13455 14727 257372091 275859771 83456363 104600767 0 12569581 347076174 401674646 881291 868854 582147 718259 3250000 0 4713438 1587113 X 342362736 400087533 342362736 400087533 347076174 401674646 X 49083690 2887465 5753642 X 0 1 X 0 0 0 Cash surrender value of life insurance 965609 F Synthetic guaranteed investment contracts 103635158 C 104600767 107593228 2887465 2887465 104705763 33792 33792 104739555 55655865 0 55655865 0 55655865 Part XI, Line 4b - Other Adjustments: Net decrease in accumulated cash surrender value of life insurance policies 33,792. Ken Schutz Key employee of Spokane School District, a participating employer 1593534 Contributions to the Trust by Spokane School District for all participating employees. 0 Dr Mike Dunn Key employee of Northeast Washington ESD 101, a participating employer 100429 Contributions to the Trust by Northeast Washington ESD 101 for all participating employees. 0 Maria Breuder Key employee of Seattle School District, a participating employer 979557 Contributions to the Trust by Seattle School District for all participating employees. 0 Wayne Leonard Key employee of Mead School District, a participating employer 855636 Contributions to the Trust by Mead School District for all participating employees. 0 Amy Fleming Key employee of Seattle School District, a participating employer 979557 Contributions to the Trust by Seattle School District for all participating employees. 0 Dr Greg Baker Key employee of Bellingham School District, a participating employer 243836 Contributions to the Trust by Bellingham School District for all participating employees. 0 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 decides 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 organization. If the organization 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 906 W 2nd Avenue, Suite 400, 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 up to six individuals, all of whom are superintendents, principals or heads of business offices in the State of Washington. In their roles as Trustees, all six 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 -33,792. Change in financial reporting framework as of July 1, 2019 5,787,434. Aberdeen School District Admin Hearings Office Admin Office of The Courts Adna School District 226 Anacortes School District 103 Arlington School District 16 Arts Commission Asotin-Anatone S D #420 Assoc of WA School Principals Attorney General Auburn School District Bainbridge SD #303 Bates Technical College Battle Ground School District Bellevue Community College Bellevue School District Bellingham SD # 501 Bellingham Technical College Benge School District Bethel School Dist Big Bend Community College Blaine School District Board of Industrial Appeals Boistfort School District Bremerton School Dist Brewster SD # 111 Bridgeport School District Burlington Edison School Dist Camas School District 117 Cape Flattery SD #401 Carbonado Historical SD 19 Cascade SD #228 Cascadia Community College Caseload Forecast Council Cashmere SD #222 Castle Rock School Dist 401 Centerville School Dist 215 Central Kitsap School Dist 401 Central Valley School District Central Washington University Centralia College - 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