The Johnson & Johnson Voluntary Employee Benefit Trust
- Assets
- $114.4m
- Revenue
- $850.5m
- Investments
- $29.4m
- Employees
- 0
- Location
- Quincy, MA
- Founding
- 02/1972
- Data as of
- 12/2020
- EIN
- 13-6371976
Organization Overview
The Johnson & Johnson Voluntary Employee Benefit Trust is located in Quincy, MA. The organization was established in 1972. 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. Johnson & Johnson Voluntary Employee 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 12/2020, Johnson & Johnson Voluntary Employee Benefit Trust generated $850.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $863.0m during the year ending 12/2020. While expenses have increased by 2.7% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE VEBA HAS BEEN ESTABLISHED AND MAINTAINED AS A MEANS OF FUNDING AND PAYING BENEFITS AND ADMINISTRATIVE EXPENSES FOR ELIGIBLE EMPLOYEES (AND THEIR ELIGIBLE AND ENROLLED DEPENDENTS) WHO ARE PARTICIPATING IN THE GROUP LIFE AND ACCIDENTAL DEATH & DISMEMBERMENT INSURANCE PLANS MAINTAINED BY JOHNSON & JOHNSON AND ITS AFFILIATED COMPANIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE VEBA HAS BEEN ESTABLISHED AND MAINTAINED AS A MEANS OF FUNDING AND PAYING BENEFITS AND ADMINISTRATIVE EXPENSES FOR ELIGIBLE SALARIED EMPLOYEES (AND THEIR ELIGIBLE AND ENROLLED DEPENDENTS) WHO ARE PARTICIPANTS IN CERTAIN MEDICAL PLANS MAINTAINED BY J&J AND ITS AFFILIATED COMPANIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aetna Claims Service Provider | 12/30/20 | $13,764,120 |
Premise Health Claims Service Provider | 12/30/20 | $3,637,440 |
Express Scripts Claims Service Provider | 12/30/20 | $1,852,800 |
Ibm Watson Claims Service Provider | 12/30/20 | $709,200 |
Harvard Pilgrim Claims Service Provider | 12/30/20 | $517,200 |
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 | $841,698,487 |
| Investment income | $863,150 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,956,837 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $850,518,474 |
| 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 | $839,814,204 |
| Compensation of current officers, directors, key employees. | $30,771 |
| 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 | $23,155,383 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $47,413 |
| 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 | $863,047,771 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $60,040,625 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $24,902,345 |
| Investments—other securities | $29,368,880 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $85,131 |
| Total assets | $114,396,981 |
| 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 | $180,000 |
| Total liabilities | $180,000 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $114,216,981 |
| 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 | $114,396,981 |