University Of B C Pension Plan For Members Of The Academic Staff
- Assets
- $3.0b
- Revenue
- $359.7m
- Investments
- $304.9m
- Employees
- 0
- Location
- Founding
- 02/1980
- Data as of
- 12/2021
- EIN
- 98-0040652
Organization Overview
University Of B C Pension Plan For Members Of The Academic Staff is located in null. The organization was established in 1980. According to its NTEE Classification (Y30) the organization is classified as: Pension & Retirement Funds, 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. University Of B C Pension Plan For Members Of The Academic Staff is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, University Of B C Pension Plan For Members Of The Academic Staff generated $359.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $119.2m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FACULTY PENSION PLAN (FPP) SERVES ACADEMICS AND ADMINISTRATIVE EXECUTIVES OF THE UNIVERSITY. IT PROVIDES RETIREMENT, TERMINATION AND DEATH BENEFITS TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES: PAYMENT OF BENEFITS FOR RETIREES OR TERMINATED MEMBERS REVENUES: MEMBERS; CONTRIBUTIONS, UNIVERSITY CONTRIBUTIONS, MEMBERS' ADDITIONAL VOLUNTARY CONTRIBUTIONS AND TRANSFER FROM OTHER PLANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kamila Giesbrecht Executive Director, Investments | Officer | 35 | $233,815 |
Orla Cousineau Executive Director, Pensions | Officer | 35 | $185,780 |
Murray Carlson Trustee | Trustee | 1 | $0 |
Kenneth Carty Chair Of The Board Of Trustees | Trustee | 1 | $0 |
Robert Heinkel Vice Chair Of Board Of Trustees | Trustee | 1 | $0 |
Joyce Boon Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Arrowstreet Investment Manager | 12/30/21 | $2,017,637 |
Mfs Investment Management Investment Manager | 12/30/21 | $1,172,427 |
Leith Wheeler Investment Manager | 12/30/21 | $644,268 |
Pimco Canada Corp Investment Manager | 12/30/21 | $613,436 |
Connor Clark And Lunn Investment Manager | 12/30/21 | $530,032 |
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 | $85,512,796 |
| Investment income | $255,993,886 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,167,823 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $359,674,505 |
| 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 | $109,855,420 |
| Compensation of current officers, directors, key employees. | $419,595 |
| Compensation of current officers, directors, key employees. | $419,595 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $739,277 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,458,681 |
| Fees for services: Legal | $69,000 |
| Fees for services: Accounting | $37,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,277,979 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $126,651 |
| Information technology | $24,444 |
| 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 | $16,365 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,000 |
| All other expenses | $0 |
| Total functional expenses | $119,185,518 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,475,499 |
| 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 | $2,718,305,705 |
| Investments—other securities | $304,938,011 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,025,719,215 |
| Accounts payable and accrued expenses | $4,614,275 |
| 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 | $4,614,275 |
| Net assets without donor restrictions | $3,021,104,940 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $3,025,719,215 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Independent Order Of Foresters | $6,129,337,660 | $713,057,039 |
University Of B C Pension Plan For Members Of The Academic Staff | $3,025,719,215 | $359,674,505 |
Carleton University Retirement Plan S1s 5b6 | $1,123,255,112 | -$127,365,051 |
University Of B C Staff Pension Plan | $2,420,372,547 | $406,852,884 |
Mount Pleasant Group Of Cemeteries | $380,619,340 | $92,524,247 |
Veba Inc Veba Tr | $1,816,913 | $41,959,741 |