Republic Retiree Veba Benefit Tr
- Assets
- $81.9m
- Revenue
- $6.6m
- Investments
- $35.9m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 05/2004
- Data as of
- 06/2022
- EIN
- 02-0642820
Organization Overview
Republic Retiree Veba Benefit Tr is located in Pittsburgh, PA. The organization was established in 2004. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Republic Retiree Veba Benefit Tr is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2022, Republic Retiree Veba Benefit Tr generated $6.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.7%) each year. All expenses for the organization totaled $9.5m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (4.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE MEDICAL, DRUG AND RETIREE DEATH BENEFITS TO RETIRED MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEALTH AND WELFARE BENEFITS PROVIDED TO RETIRED MEMBERS AND SURVIVING SPOUSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ray Perez Trustee | Trustee | 1 | $0 |
Michael Millsap Trustee | Trustee | 1 | $0 |
Margo Barnes Trustee | Trustee | 1 | $0 |
Louise Zimmerman Trustee | Trustee | 1 | $0 |
Kyle Vuchak Trustee | Trustee | 1 | $0 |
Brian Hiles Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Central Data Services Administrative | 6/29/22 | $144,000 |
Trowe Price Investment Service | 6/29/22 | $218,554 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $3,020,096 |
| Investment income | $2,998,692 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $205,440 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,633,144 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $9,022,888 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,623 |
| Fees for services: Accounting | $25,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $246,304 |
| Fees for services: Other | $190,664 |
| Advertising and promotion | $0 |
| Office expenses | $21,201 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $685 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $22,366 |
| All other expenses | $0 |
| Total functional expenses | $9,544,135 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $396,744 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $44,173 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $16,770 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $45,483,774 |
| Investments—other securities | $35,884,755 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $110,220 |
| Total assets | $81,936,436 |
| Accounts payable and accrued expenses | $57,491 |
| Grants payable | $0 |
| Deferred revenue | $37,590 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $95,081 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $81,841,355 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $81,936,436 |