Fedex Pilots Post-Medicare Retiree Premium Reimbursement Plan
- Assets
- $155.1m
- Revenue
- $16.8m
- Investments
- $491.5k
- Employees
- 0
- Location
- Mclean, VA
- Founding
- 08/2008
- Data as of
- 12/2022
- EIN
- 65-1297729
Organization Overview
Fedex Pilots Post-Medicare Retiree Premium Reimbursement Plan is located in Mclean, VA. The organization was established in 2008. 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. Fedex Pilots Post-Medicare Retiree Premium Reimbursement Plan is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2022, Fedex Pilots Post-Medicare Retiree Premium Reimbursement Plan generated $16.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.8% each year . All expenses for the organization totaled $4.5m during the year ending 12/2022. While expenses have increased by 14.7% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
AS PROVIDED IN A COLLECTIVE BARGAINING AGREEMENT, THIS PLAN PROVIDES ELIGIBLE PILOTS AND THEIR SPOUSE A REIMBURSEMENT OF PREMIUMS PAID TO CERTAIN MEDICARE PLANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE A PREMIUM REIMBURSEMENT OF UP TO $130 PER MONTH PER PARTICIPANT FOR THE 1/1/2022 PLAN YEAR FOR ELIGIBLE PILOTS AND/OR THEIR SPOUSE WHO ARE AGE 65 OR OVER AND WHO PURCHASE MEDICARE PART B, MEDICARE PART D, AND/OR A MEDICARE ADVANTAGE OR MEDICARE SUPPLEMENT POLICY. AT THE END OF THE 2022 PLAN YEAR THERE WERE APPROXIMATELY 4,000 PARTICIPANTS ELIGIBLE TO RECEIVE BENEFITS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catherine Powers Asst. Director, Representation | Officer | 5 | $0 |
The Northern Trust Company Trustee | 1 | $224,516 | |
Aaron Grady Veba Board Member (alternate) | Trustee | 5 | $12,101 |
Michael Broome Veba Board Member | Trustee | 5 | $12,101 |
Ken Binder Veba Board Member (alternate) | Trustee | 5 | $0 |
Alwyn Smith Veba Board Member(thru 5/2022) | Trustee | 5 | $5,599 |
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 | $8,041,816 |
| Investment income | $3,509,663 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,254,244 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,805,723 |
| 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 | $3,851,429 |
| Compensation of current officers, directors, key employees. | $29,801 |
| 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 | $29,240 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $300,348 |
| Fees for services: Other | $217,533 |
| Advertising and promotion | $0 |
| Office expenses | $1,144 |
| 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 | $10,208 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $42,469 |
| All other expenses | $0 |
| Total functional expenses | $4,482,172 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $154,556,154 |
| Investments—other securities | $491,538 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $85,787 |
| Total assets | $155,133,479 |
| 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 | $84,264 |
| Total liabilities | $84,264 |
| 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 | $155,049,215 |
| Total liabilities and net assets/fund balances | $155,133,479 |