Bae Systems Funded Retiree Welfare Benefit Tr

Organization Overview

Bae Systems Funded Retiree Welfare Benefit Tr is located in Falls Church, VA. The organization was established in 2003. 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. Bae Systems Funded Retiree Welfare 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 12/2021, Bae Systems Funded Retiree Welfare Benefit Tr generated $16.9m 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 (5.1%) each year. All expenses for the organization totaled $14.6m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THIS ORGANIZATION IS A VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION THAT FUNDS MEDICAL AND OTHER WELFARE BENEFITS FOR RETIREES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE TRUST PREFUNDS WELFARE BENEFITS FOR RETIREES OF THE SPONSOR OF THE TRUST AND VARIOUS AFFILIATED ENTITIES. THE EXPENSES WERE INCURRED TO PAY BENEFITS TO THE RETIREES PURSUANT TO THE UNDERLYING BENEFIT PLAN, AND TO PAY ADMINISTRATIVE EXPENSES AND TAXES OWED. THE REVENUE AMOUNT RELATES TO PARTICIPANT AND EMPLOYER CONTRIBUTIONS TO FUND THE BENEFITS, INVESTMENT INCOME, MEDICARE REIMBURSEMENTS, AND UNRELATED BUSINESS INCOME TAX REFUNDS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Alight Solutions Llc
Administrative Svcs
$290,273
Aon Consulting Inc
Actuarial Services
$178,965
Jpmorgan Chase Bank
Investment Mgmt Svcs
$400,443
Deloitte Touche Llp
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Kpmg
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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$1,276,978
Investment income $7,438,666
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $8,201,499
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $16,917,143

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