Clorox Company Voluntary Employees Beneficiary Association
- Assets
- $615.4k
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Oakland, CA
- Founding
- 02/2002
- Data as of
- 06/2022
- EIN
- 68-0471501
Organization Overview
Clorox Company Voluntary Employees Beneficiary Association is located in Oakland, CA. The organization was established in 2002. 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. Clorox Company Voluntary Employees Beneficiary Association is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2022, Clorox Company Voluntary Employees Beneficiary Association generated $3.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (5.4%) each year. All expenses for the organization totaled $3.4m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (8.2%) per year over the past 3 years. 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
THE PURPOSE OF THIS ORGANIZATION IS TO FUND HEALTH AND WELFARE BENEFITS OFFERED TO RETIRED EMPLOYEES OF THE CLOROX COMPANY AND ITS PARTICIPATING SUBSIDIARIES. EMPLOYER AND EMPLOYEE CONTRIBUTIONS MADE TO THE ORGANIZATION ARE EXEMPT FROM TAXATION PER IRS DEPARTMENT LETTER DATED 3/18/2002.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLOROX COMPANY VOLUNTARY EMPLOYEES BENEFICIARY ASSOCIATION ("VEBA TRUST") WAS ESTABLISHED FOR THE PURPOSE OF PROVIDING SECURITY TO ACTIVE EMPLOYEES BY HOLDING EMPLOYER FUNDS CONTRIBUTED BY CLOROX AND ITS SUBSIDIARIES AND BY EMPLOYEES FOR THE PAYMENT OF MEDICAL, DENTAL, AND VISION BENEFITS. ON JANUARY 1, 2002, THE TRUST AGREEMENT DATED SEPTEMBER 28, 2000 BETWEEN THE CLOROX COMPANY AND UNION BANK OF CALIFORNIA, N.A. (TRUSTEE) WAS AMENDED TO ADD THE CLOROX COMPANY GROUP INSURANCE PLAN FOR CERTAIN RETIRED AND DISABLED PARTICIPANTS (PLAN NO. 508) TO THE TRUST ON JUNE 24, 2008, THE VEBA TRUST AGREEMENT WAS AMENDED TO REMOVE THE CURRENT ELIGIBLE EMPLOYEES FROM THE VEBA TRUST. EFFECTIVE JULY 1, 2008 ACTIVE EMPLOYEE CONTRIBUTIONS ARE NO LONGER HELD IN THE VEBA TRUST AND CERTAIN BENEFITS AND EXPENSES FOR THE ACTIVE EMPLOYEES ARE PAID THROUGH THE GENERAL ASSETS OF THE CLOROX COMPANY. EFFECTIVE JULY 1, 2018, THE CLOROX COMPANY GROUP INSURANCE PLAN FOR RETIREES WAS ESTABLISHED TO PROVIDE BENEFITS FOR ELIGIBLE FORMER EMPLOYEES OF THE CLOROX COMPANY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kirsten Marriner The Clorox Company (veba Sponsor) | Officer | $0 | |
Eric Reynolds The Clorox Company (veba Sponsor) | Officer | $0 | |
Patricia Gonzalez The Clorox Company (veba Sponsor) | Officer | $0 | |
Angela Hilt The Clorox Company (veba Sponsor) | Officer | $0 | |
Richard Mcdonald The Clorox Company (veba Sponsor) | Officer | $0 | |
Us Bank The Clorox Company (veba Trustee) | $3,988 |
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 | $3,665,410 |
| Investment income | $84 |
| 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 | $3,665,494 |
| 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 | $2,635,212 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $0 |
| 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 | $642,507 |
| All other expenses | $80,948 |
| Total functional expenses | $3,358,667 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $615,394 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $615,394 |
| 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 | $615,394 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $615,394 |