Corning Glass Works Ltd Salaried Employees
- Assets
- $34.9m
- Revenue
- $125.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 02/1988
- Data as of
- 12/2021
- EIN
- 13-3364852
Organization Overview
Corning Glass Works Ltd Salaried Employees is located in Pittsburgh, PA. The organization was established in 1988. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Corning Glass Works Ltd Salaried Employees 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, Corning Glass Works Ltd Salaried Employees generated $125.8m in total revenue. All expenses for the organization totaled $156.6m during the year ending 12/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE EXEMPT PURPOSE OF THE TRUST IS TO PROVIDE LONG TERM DISABILITY BENEFITS TO SALARIED EMPLOYEES AND HEALTH BENEFITS TO ACTIVE EMPLOYEES AND UNION RETIREES OF CORNING INCORPORATED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE EXEMPT PURPOSE OF THE TRUST IS TO PROVIDE LONG TERM DISABILITY BENEFITS TO SALARIED EMPLOYEES AND HEALTH BENEFITS TO ACTIVE EMPLOYEES AND UNION RETIREES OF CORNING INCORPORATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jpmorgan Chase Bank Trustee, Through 09/30/2015 | 0 | $7,500 | |
The Bank Of New York Mellon Trustee (see Schedule O) | 0 | $0 |
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 | $125,830,358 |
| Investment income | $8,470 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $125,838,828 |
| 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 | $156,608,558 |
| Compensation of current officers, directors, key employees. | $2,873 |
| 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 | $0 |
| Fees for services: Accounting | $2,442 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| 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 | $0 |
| Total functional expenses | $156,613,873 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $34,911,002 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $465 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $34,911,467 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $34,911,467 |
| 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 | $34,911,467 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Corning Glass Works Ltd Salaried Employees Pittsburgh, PA | $34,911,467 | $125,838,828 |
Glenstone Foundation Potomac, MD | $0 | $596,667,510 |
The Andy Warhol Foundation For The Visual Arts Inc New York, NY | $375,628,094 | $51,526,373 |
Painting Industry Insurance Fund Strongsville, OH | $10,051,774 | $13,147,287 |
The American Ceramic Society Inc Westerville, OH | $14,880,081 | $7,163,335 |
Production Industrial Tech Textile & Prof Employees Loc 124 Wlfr Fund Valhalla, NY | $838,103 | $5,998,825 |
Lily Auchincloss Foundation Inc New York, NY | $46,827,043 | $6,935,321 |
Solow Art And Architecture Foundation New York, NY | $241,786,081 | $29,285,009 |
Municipal Art Society Of New York New York, NY | $12,093,728 | $3,370,052 |
The Wildenstein Plattner Institute New York, NY | $1,898,409 | $4,064,152 |
Museum Of Contemporary Art Cleveland Cleveland, OH | $27,997,238 | $2,174,653 |
Drawing Center Inc New York, NY | $11,094,197 | $3,697,448 |