Civic Intelligence

Johnson & Johnson Veba Trust

990 • Fiscal year 2019 • EIN 13-6371976

Jan 01, 2019 to Dec 31, 2019 • Filed on Jun 24, 2020

Organization ProfileN/A
1200 Crown Colony DriveQuincy, MA 02169

(617) 622-2119

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

35th percentile

0.00x

Higher debt load relative to assets than 35% of similar nonprofits.

2019 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2019

Liabilities / Revenue

24th percentile

0.00x

Higher debt load relative to revenue than 24% of similar nonprofits.

2019 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2019

Net Margin

17th percentile

-8.4%

Higher net margin than 17% of similar nonprofits.

2019 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2019

Top Officer Pay

47th percentile

$59,530

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2019

Asset Growth

1st percentile

-34%

Faster asset growth than 1% of similar nonprofits.

2019 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Revenue Growth

72nd percentile

10%

Faster revenue growth than 72% of similar nonprofits.

2019 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets35th percentile

Assets

Down

$129,671,480

Down $65,938,666 (-34%) from 2018

Net Assets

Down

$129,184,982

Down $66,420,488 (-34%) from 2018

Liabilities

Up

$486,498

Up $481,822 (+10304%) from 2018

Revenue And Expenses
Liabilities / Revenue24th percentileNet Margin17th percentile

Revenue

Up

$837,838,196

Up $77,294,954 (+10%) from 2018

Expenses

Up

$908,132,709

Up $56,772,458 (+6.7%) from 2018

Net Income

Up

-$70,294,513

Up $20,522,496 (+23%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300M$200M$100M$0Assets 2011: $144,986,745Liabilities 2011: $15,085,680Net Assets 2011: $129,901,0652011Assets 2012: $190,558,087Liabilities 2012: $522,579Net Assets 2012: $190,035,5082012Assets 2013: $159,640,182Liabilities 2013: $470,870Net Assets 2013: $159,169,3122013Assets 2014: $147,114,326Liabilities 2014: $441,452Net Assets 2014: $146,672,8742014Assets 2015: $142,214,495Liabilities 2015: $206,299Net Assets 2015: $142,008,1962015Assets 2016: $108,828,220Liabilities 2016: $36,038Net Assets 2016: $108,792,1822016Assets 2017: $293,410,080Liabilities 2017: $5,090Net Assets 2017: $293,404,9902017Assets 2018: $195,610,146Liabilities 2018: $4,676Net Assets 2018: $195,605,4702018Assets 2019: $129,671,480Liabilities 2019: $486,498Net Assets 2019: $129,184,9822019Assets 2020: $114,396,981Liabilities 2020: $180,000Net Assets 2020: $114,216,9812020Assets 2021: $67,542,848Liabilities 2021: $0Net Assets 2021: $67,542,8482021Assets 2022: $78,814,743Liabilities 2022: $0Net Assets 2022: $78,814,7432022Assets 2023: $74,121,126Liabilities 2023: $0Net Assets 2023: $74,121,1262023Assets 2024: $63,455,566Liabilities 2024: $0Net Assets 2024: $63,455,5662024

Highlighted filing

2019

Assets$129,671,480
Liabilities$486,498
Net Assets$129,184,982
Open 2019 Filing

Operations Trend

Revenue Growth72nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5B$1.0B$500M$0-$500MRevenue 2011: $599,123,005Expenses 2011: $604,822,275Net Income 2011: -$5,699,2702011Revenue 2012: $696,482,521Expenses 2012: $666,348,078Net Income 2012: $30,134,4432012Revenue 2013: $636,513,856Expenses 2013: $667,380,052Net Income 2013: -$30,866,1962013Revenue 2014: $700,984,999Expenses 2014: $713,117,437Net Income 2014: -$12,132,4382014Revenue 2015: $731,339,892Expenses 2015: $736,004,570Net Income 2015: -$4,664,6782015Revenue 2016: $719,056,809Expenses 2016: $752,272,823Net Income 2016: -$33,216,0142016Revenue 2017: $973,119,474Expenses 2017: $788,506,666Net Income 2017: $184,612,8082017Revenue 2018: $760,543,242Expenses 2018: $851,360,251Net Income 2018: -$90,817,0092018Revenue 2019: $837,838,196Expenses 2019: $908,132,709Net Income 2019: -$70,294,5132019Revenue 2020: $850,518,474Expenses 2020: $863,047,771Net Income 2020: -$12,529,2972020Revenue 2021: $916,950,992Expenses 2021: $967,316,564Net Income 2021: -$50,365,5722021Revenue 2022: $1,012,290,905Expenses 2022: $990,878,026Net Income 2022: $21,412,8792022Revenue 2023: $1,055,661,335Expenses 2023: $1,051,523,611Net Income 2023: $4,137,7242023Revenue 2024: $1,088,498,985Expenses 2024: $1,100,244,860Net Income 2024: -$11,745,8752024

Highlighted filing

2019

Revenue$837,838,196
Expenses$908,132,709
Net Income-$70,294,513
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jun 24, 2020
Return Version
2019v5.1
Gross Receipts
$959,672,388
Mission and Program Overview

Mission

The veba has been established and maintained as a means of funding and paying benefits and administrative expenses for eligible salaried employees (and their eligible and enrolled dependents) who are participants in certain medical plans maintained by j&j and its affiliated companies.

The veba has been established and maintained as a means of funding and paying benefits and administrative expenses for eligible salary employees (and their eligible and enrolled dependents) who are participants in certain medical plans maintained by j&j and its affiliated companies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$195,605,470$129,184,982▼ $66,420,488
Savings and Temporary Cash Investments$130,378,695$67,433,153▼ $62,945,542
Investments Other Securities$36,820,851$33,044,431▼ $3,776,420
Investments in Publicly Traded Securities$27,995,274$28,956,987▲ $961,713
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$195,610,146$129,671,480▼ $65,938,666
Other Assets Total$415,326$236,909▼ $178,417
Liabilities
Other Liabilities$4,676$486,498▲ $481,822
Total Liabilities$4,676$486,498▲ $481,822
Net Assets / Fund Balance
Total Net Assets Fund Balance$195,605,470$129,184,982▼ $66,420,488
Total Liabilities and Net Assets / Fund Balance$195,610,146$129,671,480▼ $65,938,666

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$33,044,431--
Compensation and Service Providers
Top Officer Pay47th percentile

Employees

NameTitleBaseTotal
-Institutional Trustee$59,530$59,530

Highest Paid Contractors

ContractorServicesLocationCompensation
AetnaClaims Service Provider151 FARMINGTON AVENUE, Hartford, CT 06156$14,696,834
Premise HealthClaims Service Provider5500 MARYLAND WAY SUITE 120, Brentwood, TN 37027$4,041,600
Express ScriptsClaims Service Provider1 EXPRESS WAY, St Louis, MO 63121$1,831,200
Truven HealthClaims Service Provider100 PHOENIX DRIVE, Ann Arbor, MI 48108$776,400
Harvard PilgrimClaims Service Provider93 WORCESTER STREET, Wellesley, MA 02481$544,800
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$830,392,682
Investment Income
$7,445,514
Other Revenue
$0
Change in Net Assets
$-70,294,513
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$26,661,899
Salaries, Compensation, and Employee Benefits$59,530
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$881,411,280
Fees for Services Management---$26,587,881
Fees for Service Investment Mgmnt Fees---$74,018
Current Officers, Directors, Trustees, and Key Employees---$59,530
Total Functional Expenses$0$0$0$908,132,709
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Payable on Investments Purchased$486,498
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The pension & benefits committee of johnson & johnson has administrator authority over the veba.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is reviewed, approved and signed by the benefits accounting department. The pension & benefits committeee of johnson & johnson has administrator authority over the veba.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents and financial statements are made available to the public upon request. As noted, the organization is a veba and does not have a conflict of interest policy.”

FORM 990 PART VI, SECTION B, LINES 12A AND 13:

“This is a health & welfare veba trust with an institutional trustee (state street bank & trust). The veba does not have a direct confidentiality policy, whistleblower policy or a conflict of interest policy.”

Filing and Contact Details

Filer

Filer Name
Johnson & Johnson Veba Trust
EIN
13-6371976
Phone
6176222119
Address
1200 CROWN COLONY DRIVE, QUINCY, MA 02169

Signing Officer

Name
Melissa Ford
Title
Manager Corporate Benefit Accountin
Phone
6176222119
Signed
2020-06-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Melissa Ford
Formed
1971
Legal Domicile
Ny
Voting Board Members
1
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Plante & Moran Pllc
Address
2601 CAMBRIDGE CT STE 500, AUBURN HILLS, MI 48326
Preparer
Lynne M Huismann
Phone
2483757100
Raw XML Appendix325 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.

Path#Value
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IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0THE VEBA HAS BEEN ESTABLISHED AND MAINTAINED AS A MEANS OF FUNDING AND PAYING BENEFITS AND ADMINISTRATIVE EXPENSES FOR ELIGIBLE SALARY EMPLOYEES (AND THEIR ELIGIBLE AND ENROLLED DEPENDENTS) WHO ARE PARTICIPANTS IN CERTAIN MEDICAL PLANS MAINTAINED BY J&J AND ITS AFFILIATED COMPANIES.
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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt3TRUVEN HEALTH
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt4HARVARD PILGRIM
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IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0830392682
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IRS990/CYSalariesCompEmpBnftPaidAmt059530
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IRS990/Form990PartVIISectionAGrp/TitleTxt0INSTITUTIONAL TRUSTEE
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IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PENSION & BENEFITS COMMITTEE OF JOHNSON & JOHNSON HAS ADMINISTRATOR AUTHORITY OVER THE VEBA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED, APPROVED AND SIGNED BY THE BENEFITS ACCOUNTING DEPARTMENT. THE PENSION & BENEFITS COMMITTEEE OF JOHNSON & JOHNSON HAS ADMINISTRATOR AUTHORITY OVER THE VEBA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. AS NOTED, THE ORGANIZATION IS A VEBA AND DOES NOT HAVE A CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THIS IS A HEALTH & WELFARE VEBA TRUST WITH AN INSTITUTIONAL TRUSTEE (STATE STREET BANK & TRUST). THE VEBA DOES NOT HAVE A DIRECT CONFIDENTIALITY POLICY, WHISTLEBLOWER POLICY OR A CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990 PART VI, SECTION B, LINES 12A AND 13:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0NJ
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0RESEARCH AND DEVELOPMENT, MANUFACTURE AND SALE OF HEALTH CARE PRODUCTS
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0ONE JOHNSON JOHNSON PLAZA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0NEW BRUNSWICK
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0NJ
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd008933
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd01
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0195610146
IRS990/TotalAssetsEOYAmt0129671480
IRS990/TotalAssetsGrp/BOYAmt0195610146
IRS990/TotalAssetsGrp/EOYAmt0129671480
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0908132709
IRS990/TotalGrossUBIAmt02309880
IRS990/TotalLiabilitiesBOYAmt04676
IRS990/TotalLiabilitiesEOYAmt0486498
IRS990/TotalLiabilitiesGrp/BOYAmt04676
IRS990/TotalLiabilitiesGrp/EOYAmt0486498
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0195605470
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0129184982
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0830392682
IRS990/TotalReportableCompFromOrgAmt059530
IRS990/TotalRevenueGrp/ExclusionAmt05135634
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0830392682
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0837838196
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt02309880
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0195610146
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0129671480
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01200 CROWN COLONY DRIVE
IRS990/USAddress/CityNm0QUINCY
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002169
IRS990/VotingMembersGoverningBodyCnt01
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MELISSA FORD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGER CORPORATE BENEFIT ACCOUNTIN
ReturnHeader/BusinessOfficerGrp/PhoneNum06176222119
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-06-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0JOHNSON & JOHNSON VEBA TRUST
ReturnHeader/Filer/BusinessNameControlTxt0JOHN
ReturnHeader/Filer/EIN0136371976
ReturnHeader/Filer/PhoneNum06176222119
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ReturnHeader/Filer/USAddress/CityNm0QUINCY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd002169
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0E0F6F03BC3AE684EB3B59DF82EF6777B722E432E
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt071.227.15.34
ReturnHeader/FilingSecurityInformation/IPDt02020-06-24
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm017:11:59
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0381357951
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PLANTE & MORAN PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02601 CAMBRIDGE CT STE 500
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0AUBURN HILLS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd048326
ReturnHeader/PreparerPersonGrp/PhoneNum02483757100
ReturnHeader/PreparerPersonGrp/PreparationDt02020-06-24
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LYNNE M HUISMANN
ReturnHeader/ReturnTs02020-07-01T11:00:22-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$129,671,480
Liabilities
$486,498
Net assets
$129,184,982
Revenue
$837,838,196
Expenses
$908,132,709
Net income
-$70,294,513
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$63.5$0.00$63.5$1,088$1,100$11.7
2023Summary only. Only limited summary data is available for this year.$74.1$0.00$74.1$1,056$1,052$4.14
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$78.8$0.00$78.8$1,012$991$21.4
2021Summary only. Only limited summary data is available for this year.$67.5$0.00$67.5$917$967$50.4
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$114$0.18$114$851$863$12.5
2019Detailed filing. Detailed filing data is available for this year.$130$0.49$129$838$908$70.3
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$196$0.00$196$761$851$90.8
2017Summary only. Only limited summary data is available for this year.$293$0.01$293$973$789$185
2016Summary only. Only limited summary data is available for this year.$109$0.04$109$719$752$33.2
2015Summary only. Only limited summary data is available for this year.$142$0.21$142$731$736$4.66
2014Summary only. Only limited summary data is available for this year.$147$0.44$147$701$713$12.1
2013Summary only. Only limited summary data is available for this year.$160$0.47$159$637$667$30.9
2012Summary only. Only limited summary data is available for this year.$191$0.52$190$696$666$30.1
2011Summary only. Only limited summary data is available for this year.$145$15.1$130$599$605$5.70