Cleveland-Cliffs Steel LLC Veba Trust
Cleveland, OH 44114 · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $31,403,786 | $39,436,208 | $464,327,322 |
| FY2024 | $21,412,564 | $43,863,824 | $453,058,548 |
| FY2023 | $76,472,908 | $55,735,656 | $455,801,342 |
| FY2022 | $96,911,835 | $67,575,466 | $453,202,150 |
| FY2021 | $91,451,431 | $62,612,949 | $465,642,029 |
| FY2020 | $33,904,097 | $67,178,869 | $426,901,772 |
| FY2019 | $38,203,041 | $72,065,214 | $450,891,550 |
| FY2018 | $54,999,888 | $77,973,575 | $451,378,856 |
| FY2017 | $57,479,591 | $102,299,535 | $489,635,767 |
| FY2016 | $25,741,707 | $138,984,788 | $545,285,386 |
| FY2015 | $136,333,278 | $145,145,208 | $647,764,514 |
| FY2014 | $108,843,066 | $135,345,397 | $674,810,965 |
| FY2013 | $126,875,361 | $126,185,458 | $679,168,792 |
| FY2012 | $284,283,836 | $124,390,699 | $643,603,395 |
Form 990 filings
The returns filed by Cleveland-Cliffs Steel LLC Veba Trust (EIN 20-0689362), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $0 | 0% |
| Program service revenue | $6,885,000 | 22% |
| Other revenue | $24,518,786 | 78% |
What the numbers show
- Other revenue made up 78% of total revenue in FY2025.
- Net assets covered about 141.3 months of expenses at the end of the reporting year. That puts it in the 79th percentile among 175 Mutual & Membership Benefit organizations in OH.
- Total revenue was higher than 96% of 176 Mutual & Membership Benefit organizations in OH.
- Total revenue fell from $284,283,836 in FY2012 to $31,403,786 in FY2025. Revenue increased in 5 and decreased in 8 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 9 of 14 reported years (FY2014, FY2015, FY2016, FY2017, FY2018, FY2019, FY2020, FY2024, FY2025).
- The highest revenue on record here is $284,283,836 in FY2012.
- Net assets declined from $643,603,395 to $464,327,322 between FY2012 and FY2025.
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
THE TRUST IS THE FUNDING VEHICLE FOR THE VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION FOR THE CLEVELAND-CLIFFS STEEL LLC EMPLOYEES (FORMERLY USWA EMPLOYEES OF BETHLEHEM STEEL AND LTV STEEL)
IRS status
| Ruling year | 2006 |
| Subsection | 501(c)(9) |
| Program area (NTEE) | Y43 — Mutual & Membership Benefit |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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