Retirees Of The Goodyear Tire & Rubber Company Health Care Tr
- Assets
- $855.4m
- Revenue
- $150.1m
- Investments
- $780.0m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 06/2009
- Data as of
- 12/2023
- EIN
- 26-6330284
Organization Overview
Retirees Of The Goodyear Tire & Rubber Company Health Care Tr is located in Pittsburgh, PA. The organization was established in 2009. 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. Retirees Of The Goodyear Tire & Rubber Company Health Care Tr is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2023, Retirees Of The Goodyear Tire & Rubber Company Health Care Tr generated $150.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $159.7m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FUND OPERATES AS A TRUST TO PROVIDE CERTAIN HEALTH BENEFITS TO CURRENT AND FUTURE GOODYEAR RETIREES FOLLOWING EMPLOYMENT IN USW-REPRESENTED BARGAINING UNITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGES THE PROVISION OF MEDICAL, HOSPITAL, SURGICAL, MAJOR MEDICAL, DENTAL AND PRESCRIPTION PLAN FOR CURRENT AND FUTURE RETIREES OF GOODYEAR TIRE & RUBBER COMPANY AND TO THEIR BENFICIARIES AND COVERED DEPENDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phyllis C Borzi Committee Member | Trustee | 4 | $29,941 |
Hazel Broadnax Committee Member | Trustee | 4 | $29,941 |
Teresa Ghilarducci Committee Member | Trustee | 4 | $29,941 |
Jerry Ivey Committee Member | Trustee | 4 | $29,941 |
Jeffrey Lewis Secretary/committee Member | OfficerTrustee | 4 | $29,941 |
Scott M Spencer Committee Member | Trustee | 4 | $29,941 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Silverscript Cvs Caremark Administration Svcs | 12/30/23 | $1,481,140 |
Highmark Inc Administration Svcs | 12/30/23 | $928,919 |
Cds Administrators Inc Contract Admin | 12/30/23 | $864,729 |
Loomis Sayles Investment Manager | 12/30/23 | $384,321 |
Meketa Investment Groups Inc Consulting Fees | 12/30/23 | $200,000 |
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 | $47,270,919 |
| Investment income | $606,021 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,161,474 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $150,111,700 |
| 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 | $154,954,142 |
| Compensation of current officers, directors, key employees. | $257,350 |
| 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 | $16,848 |
| Fees for services: Accounting | $61,045 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $448,822 |
| Fees for services: Other | $3,619,450 |
| Advertising and promotion | $0 |
| Office expenses | $118,422 |
| 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 | $3,668 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $135,428 |
| All other expenses | $68,268 |
| Total functional expenses | $159,683,443 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $476,863 |
| Savings and temporary cash investments | $23,655,443 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $43,115,395 |
| 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 | $80,836 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $8,144,281 |
| Investments—other securities | $779,969,420 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $855,442,238 |
| Accounts payable and accrued expenses | $10,152,828 |
| 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 | $10,152,828 |
| 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 | $845,289,410 |
| Total liabilities and net assets/fund balances | $855,442,238 |