Eversource Retirees Benefit Trust
- Assets
- $787.1m
- Revenue
- $141.5m
- Investments
- $522.9m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 06/1995
- Data as of
- 12/2021
- EIN
- 04-3220614
Organization Overview
Eversource Retirees Benefit Trust is located in Pittsburgh, PA. The organization was established in 1995. 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. Eversource Retirees Benefit Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, Eversource Retirees Benefit Trust generated $141.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.5% each year . All expenses for the organization totaled $27.1m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
DISTRIBUTION OF PAYMENTS TO CARRIERS AND SIMILAR ORGANIZATIONS FOR PROVISION OF BENEFITS TO ORGANIZATIONS AND INDIVIDUALS PROVIDING WELFARE BENEFITS TO PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BENEFITS PAID TO MEMBERS
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Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Loomis Sayles Investment Mgmt | 12/30/21 | $392,907 |
Harvest Tactical Investment Mgmt | 12/30/21 | $294,461 |
American Century Investment Mgmt | 12/30/21 | $274,126 |
Earnest Partners Investment Mgmt | 12/30/21 | $283,334 |
Harvest Lsr Plus Investment Mgmt | 12/30/21 | $148,882 |
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 | $496,365 |
| Investment income | $6,668,256 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $131,963,036 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $141,470,416 |
| 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 | $24,670,889 |
| Compensation of current officers, directors, key employees. | $355,984 |
| 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 | $97,991 |
| Fees for services: Legal | $16,953 |
| Fees for services: Accounting | $25,937 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,618,449 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $41,827 |
| Total functional expenses | $27,070,277 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,397,089 |
| Savings and temporary cash investments | $116,187,481 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,839,347 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $116,811,060 |
| Investments—other securities | $522,909,955 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $787,144,932 |
| Accounts payable and accrued expenses | $4,210,025 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $3,889,518 |
| Total liabilities | $8,099,543 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $779,045,389 |
| Total liabilities and net assets/fund balances | $787,144,932 |