Civic Intelligence

Republic Retiree Veba Benefit Trust

EIN 02-0642820 • 501(c)9 • Pittsburgh, PA

Profile

To provide medical, drug and retiree death benefits to retired members

60 Boulevard Of The Allies 5th FLPittsburgh, PA 15222

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

27th percentile

0.00x

Higher debt load relative to assets than 27% of similar nonprofits.

501(c)9 • $50M-$100M nonprofits • Source year 2023

Liabilities / Revenue

43rd percentile

0.02x

Higher debt load relative to revenue than 43% of similar nonprofits.

501(c)9 • $50M-$100M nonprofits • Source year 2023

Net Margin

5th percentile

-53%

Higher net margin than 5% of similar nonprofits.

501(c)9 • $50M-$100M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

33rd percentile

1.2%

Faster asset growth than 33% of similar nonprofits.

501(c)9 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Revenue Growth

18th percentile

-5.2%

Faster revenue growth than 18% of similar nonprofits.

501(c)9 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Assets

Up

$86,922,286

Up $3,972,684 (+4.8%) from 2023

Liabilities

Down

$100,548

Down $29,692 (-23%) from 2023

Net Assets

Up

$86,821,738

Up $4,002,376 (+4.8%) from 2023

Revenue

Up

$6,355,463

Up $67,007 (+1.1%) from 2023

Expenses

Down

$9,473,413

Down $146,220 (-1.5%) from 2023

Net Income

Up

-$3,117,950

Up $213,227 (+6.4%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$100M$50M$0Assets 2011: $75,172,772Liabilities 2011: $214,920Net Assets 2011: $74,957,8522011Assets 2012: $72,509,021Liabilities 2012: $220,780Net Assets 2012: $72,288,2412012Assets 2013: $78,587,278Liabilities 2013: $203,085Net Assets 2013: $78,384,1932013Assets 2014: $91,394,095Liabilities 2014: $103,340Net Assets 2014: $91,290,7552014Assets 2015: $92,847,020Liabilities 2015: $92,289Net Assets 2015: $92,754,7312015Assets 2016: $93,207,112Liabilities 2016: $118,911Net Assets 2016: $93,088,2012016Assets 2017: $94,270,896Liabilities 2017: $144,478Net Assets 2017: $94,126,4182017Assets 2018: $91,838,157Liabilities 2018: $145,399Net Assets 2018: $91,692,7582018Assets 2019: $86,686,804Liabilities 2019: $88,172Net Assets 2019: $86,598,6322019Assets 2020: $85,271,592Liabilities 2020: $112,572Net Assets 2020: $85,159,0202020Assets 2021: $98,748,421Liabilities 2021: $105,789Net Assets 2021: $98,642,6322021Assets 2022: $81,936,436Liabilities 2022: $95,081Net Assets 2022: $81,841,3552022Assets 2023: $82,949,602Liabilities 2023: $130,240Net Assets 2023: $82,819,3622023Assets 2024: $86,922,286Liabilities 2024: $100,548Net Assets 2024: $86,821,7382024

Highlighted filing

2024

Assets$86,922,286
Liabilities$100,548
Net Assets$86,821,738

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$10M$0-$10MRevenue 2011: $18,296,855Expenses 2011: $10,841,302Net Income 2011: $7,455,5532011Expenses 2012: $9,662,9492012Revenue 2013: $14,194,870Expenses 2013: $12,375,166Net Income 2013: $1,819,7042013Revenue 2014: $17,125,011Expenses 2014: $11,979,551Net Income 2014: $5,145,4602014Revenue 2015: $16,050,051Expenses 2015: $13,256,074Net Income 2015: $2,793,9772015Revenue 2016: $18,547,489Expenses 2016: $12,840,577Net Income 2016: $5,706,9122016Revenue 2017: $11,684,781Expenses 2017: $14,876,705Net Income 2017: -$3,191,9242017Revenue 2018: $10,945,545Expenses 2018: $15,500,848Net Income 2018: -$4,555,3032018Revenue 2019: $9,467,286Expenses 2019: $15,365,776Net Income 2019: -$5,898,4902019Revenue 2020: $10,629,882Expenses 2020: $11,048,835Net Income 2020: -$418,9532020Revenue 2021: $8,095,970Expenses 2021: $8,473,129Net Income 2021: -$377,1592021Revenue 2022: $6,633,144Expenses 2022: $9,544,135Net Income 2022: -$2,910,9912022Revenue 2023: $6,288,456Expenses 2023: $9,619,633Net Income 2023: -$3,331,1772023Revenue 2024: $6,355,463Expenses 2024: $9,473,413Net Income 2024: -$3,117,9502024

Highlighted filing

2024

Revenue$6,355,463
Expenses$9,473,413
Net Income-$3,117,950

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$86.9$0.10$86.8$6.36$9.47$3.12
2023Detailed filing. Detailed filing data is available for this year.$82.9$0.13$82.8$6.29$9.62$3.33
2022Detailed filing. Detailed filing data is available for this year.$81.9$0.10$81.8$6.63$9.54$2.91
2021Detailed filing. Detailed filing data is available for this year.$98.7$0.11$98.6$8.10$8.47$0.38
2020Detailed filing. Detailed filing data is available for this year.$85.3$0.11$85.2$10.6$11.0$0.42
2019Detailed filing. Detailed filing data is available for this year.$86.7$0.09$86.6$9.47$15.4$5.90
2018Detailed filing. Detailed filing data is available for this year.$91.8$0.15$91.7$10.9$15.5$4.56
2017Detailed filing. Detailed filing data is available for this year.$94.3$0.14$94.1$11.7$14.9$3.19
2016Detailed filing. Detailed filing data is available for this year.$93.2$0.12$93.1$18.5$12.8$5.71
2015Detailed filing. Detailed filing data is available for this year.$92.8$0.09$92.8$16.1$13.3$2.79
2014Detailed filing. Detailed filing data is available for this year.$91.4$0.10$91.3$17.1$12.0$5.15
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$78.6$0.20$78.4$14.2$12.4$1.82
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$72.5$0.22$72.3$9.66
2011Summary only. Only limited summary data is available for this year.$75.2$0.21$75.0$18.3$10.8$7.46
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Oct 16, 2024
Return Version
2023v6.0
Gross Receipts
$17,425,120
Mission and Program Overview

Mission

To provide medical, drug and retiree death benefits to retired members

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$82,819,362$86,821,738▲ $4,002,376
Investments in Publicly Traded Securities$44,150,237$54,127,936▲ $9,977,699
Investments Other Securities$36,843,068$32,097,598▼ $4,745,470
Cash and Non-Interest-Bearing Accounts$467,562$502,349▲ $34,787
Accounts Receivable$236,865$36,088▼ $200,777
Prepaid Expenses and Deferred Charges$1,086,368$17,716▼ $1,068,652
Total Assets$82,949,602$86,922,286▲ $3,972,684
Other Assets Total$165,502$140,599▼ $24,903
Liabilities
Accounts Payable and Accrued Expenses$56,488$64,431▲ $7,943
Deferred Revenue$73,752$36,117▼ $37,635
Total Liabilities$130,240$100,548▼ $29,692
Net Assets / Fund Balance
Total Net Assets Fund Balance$82,819,362$86,821,738▲ $4,002,376
Total Liabilities and Net Assets / Fund Balance$82,949,602$86,922,286▲ $3,972,684

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$24,427,395--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ken BraunTrustee
Michael MillsapTrustee
Ray PerezTrustee
S Howard KlineTrustee

Highest Paid Contractors

ContractorServicesLocationCompensation
-Investment Service100 E PRATT ST, Baltimore, MD 21202$198,274
Central Data ServicesAdministrative60 BLVD OF THE ALLIES 5TH FL, Pittsburgh, PA 15222$144,000
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,041,990
Investment Income
$3,161,588
Other Revenue
$151,885
Change in Net Assets
$-3,117,950

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,132,207
Revenue Not Reported on Financial Statements
$223,256
Revenue Not Reported on Form 990
$7,120,326
Total Revenue per Audited Statements
$13,252,533
Total Revenue per Form 990
$6,355,463
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$500,092
Salaries, Compensation, and Employee Benefits$5,333
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members$0--$8,967,988
Fees for Service Investment Mgmnt Fees$0$0$0$223,256
Fees for Services Other$0$0$0$190,721
Fees for Services Accounting$0$0$0$27,000
Insurance$0$0$0$25,060
Office Expenses$0$0$0$22,589
Fees for Services Legal$0$0$0$10,950
Current Officers, Directors, Trustees, and Key Employees$0$0$0$5,333
Other Expenses$0$0$0$516
Total Functional Expenses$0$0$0$9,473,413

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$9,473,413
Expenses per Audited Statements$9,250,157
Total Expenses per Audited Statements$9,250,157
Expenses Not Reported on Financial Statements$223,256
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Republic Retiree Veba Benefit Trust
EIN
02-0642820
Phone
8663810934
Address
60 BOULEVARD OF THE ALLIES 5TH FL, PITTSBURGH, PA 15222

Signing Officer

Name
Michael Millsap
Title
Chairman
Phone
8663810934
Signed
2024-10-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Millsap
Formed
2002
Legal Domicile
Pa
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
McElhaney & Associates LLC
Address
1725 Washington Rd Ste 509, Pittsburgh, PA 15241
Preparer
F E McElhaney Jr
Phone
4128313812
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

All trustees are provided a copy of the completed form before it is filed

Pt VI, Line 19

AVAILABLE UPON REQUEST

Raw XML Appendix388 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL TRUSTEES ARE PROVIDED A COPY OF THE COMPLETED FORM BEFORE IT IS FILED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AVAILABLE UPON REQUEST
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL MILLSAP
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum08663810934
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0REPUBLIC RETIREE VEBA BENEFIT TRUST
ReturnHeader/Filer/BusinessNameControlTxt0REPU
ReturnHeader/Filer/EIN0020642820
ReturnHeader/Filer/PhoneNum08663810934
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0383806684
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0McElhaney & Associates LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01725 Washington Rd Ste 509
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Pittsburgh
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd015241
ReturnHeader/PreparerPersonGrp/PhoneNum04128313812
ReturnHeader/PreparerPersonGrp/PreparationDt02025-04-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0F E McElhaney Jr
ReturnHeader/ReturnTs02025-04-01T13:31:58-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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