Xcel Energy Inc Voluntary Employees Benefciary Trust for Active Employ
Minneapolis, MN 55401 · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $237,051,709 | $218,733,283 | $62,352,913 |
| FY2023 | $209,228,333 | $205,660,846 | $44,034,487 |
| FY2022 | $184,499,603 | $175,356,216 | $40,467,000 |
| FY2021 | $175,187,105 | $171,407,123 | $29,616,502 |
| FY2020 | $152,566,388 | $153,620,099 | $25,836,520 |
| FY2018 | $152,102,348 | $151,527,049 | $26,285,736 |
| FY2017 | $153,013,297 | $151,352,413 | $25,710,437 |
| FY2016 | $151,184,903 | $151,191,599 | $24,049,553 |
| FY2015 | $158,837,588 | $154,661,730 | $24,056,249 |
| FY2014 | $153,660,576 | $151,407,407 | $19,880,391 |
| FY2013 | $136,281,152 | $136,366,738 | $17,627,222 |
| FY2012 | $135,941,100 | $135,292,416 | $17,712,808 |
| FY2011 | $128,834,289 | $128,816,636 | $17,064,124 |
Form 990 filings
The returns filed by Xcel Energy Inc Voluntary Employees Benefciary Trust for Active Employ (EIN 41-6383796), 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 | $221,903,442 | 94% |
| Other revenue | $15,148,267 | 6% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $216,943,380 | 99% |
| Management & general | $1,789,903 | 1% |
| Fundraising | $0 | 0% |
What the numbers show
- Program service revenue made up 94% of total revenue in FY2024.
- Program services accounted for 99% of functional expenses, management & general 1%, and fundraising 0%.
- 99% of functional expenses went to program services in FY2024. That is higher than 51.8% of 110 Mutual & Membership Benefit organizations nationwide (too few in MN for a state comparison).
- Net assets covered about 3.4 months of expenses at the end of the reporting year. That puts it in the 8th percentile among 132 Mutual & Membership Benefit organizations in MN.
- Total revenue was the highest among 132 Mutual & Membership Benefit organizations in MN.
- Total revenue rose from $128,834,289 in FY2011 to $237,051,709 in FY2024. Revenue increased in 10 and decreased in 2 of 12 year-over-year comparisons.
- Expenses exceeded revenue in 3 of 13 reported years (FY2013, FY2016, FY2020).
- Net assets grew from $17,064,124 to $62,352,913 between FY2011 and FY2024.
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
PAYMENT OF HEALTH AND WELFARE BENEFITS FOR THE ACTIVE EMPLOYEES OF XCEL ENERGY INC. AND ITS SUBSIDIARIES.
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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