Civic Intelligence

Orange & Rockland Utilities Mgmt Wbp

EIN 25-1755731 • 501(c)9 • New York, NY

Profile

Provision of employee benefits

4 Irving Place 2nd FloorNew York, NY 10003

n/A

Siviq Scores

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

Liabilities / Assets

48th percentile

0.02x

Higher debt load relative to assets than 48% of similar nonprofits.

501(c)9 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

51st percentile

0.01x

Higher debt load relative to revenue than 51% of similar nonprofits.

501(c)9 • $5M-$10M nonprofits • Source year 2024

Net Margin

30th percentile

-1.9%

Higher net margin than 30% of similar nonprofits.

501(c)9 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

67th percentile

$21,875

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

501(c)9 • $5M-$10M nonprofits • Source year 2024

Asset Growth

54th percentile

7.1%

Faster asset growth than 54% of similar nonprofits.

501(c)9 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

70th percentile

16%

Faster revenue growth than 70% of similar nonprofits.

501(c)9 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets48th percentile

Assets

Up

$5,410,443

Up $1,044,528 (+24%) from 2022

Liabilities

Up

$90,834

Up $50,248 (+124%) from 2022

Net Assets

Up

$5,319,609

Up $994,280 (+23%) from 2022

Operations
Liabilities / Revenue51st percentileNet Margin30th percentile

Revenue

Up

$6,768,231

Up $2,368,404 (+54%) from 2022

Expenses

Up

$6,899,029

Up $2,116,756 (+44%) from 2022

Net Income

Up

-$130,798

Up $251,648 (+66%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth54th percentile

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

$20M$15M$10M$5.0M$0Assets 2011: $18,440,716Liabilities 2011: $0Net Assets 2011: $18,440,7162011Assets 2012: $17,320,862Liabilities 2012: $0Net Assets 2012: $17,320,8622012Assets 2014: $17,292,959Liabilities 2014: $181,649Net Assets 2014: $17,111,3102014Assets 2017: $9,203,966Liabilities 2017: $48,902Net Assets 2017: $9,155,0642017Assets 2019: $5,615,570Liabilities 2019: $53,195Net Assets 2019: $5,562,3752019Assets 2020: $5,896,745Liabilities 2020: $39,052Net Assets 2020: $5,857,6932020Assets 2021: $6,176,496Liabilities 2021: $411,709Net Assets 2021: $5,764,7872021Assets 2022: $4,365,915Liabilities 2022: $40,586Net Assets 2022: $4,325,3292022Assets 2024: $5,410,443Liabilities 2024: $90,834Net Assets 2024: $5,319,6092024

Highlighted filing

2024

Assets$5,410,443
Liabilities$90,834
Net Assets$5,319,609
Open 2024 Filing

Operations Trend

Revenue Growth70th percentile

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

$10M$5.0M$0-$5.0MExpenses 2011: $3,698,3332011Expenses 2012: $4,353,9502012Revenue 2014: $2,945,121Expenses 2014: $6,319,651Net Income 2014: -$3,374,5302014Revenue 2017: $2,352,605Expenses 2017: $5,189,598Net Income 2017: -$2,836,9932017Revenue 2019: $4,345,434Expenses 2019: $4,754,527Net Income 2019: -$409,0932019Revenue 2020: $4,564,172Expenses 2020: $4,869,651Net Income 2020: -$305,4792020Revenue 2021: $4,555,791Expenses 2021: $5,181,547Net Income 2021: -$625,7562021Revenue 2022: $4,399,827Expenses 2022: $4,782,273Net Income 2022: -$382,4462022Revenue 2024: $6,768,231Expenses 2024: $6,899,029Net Income 2024: -$130,7982024

Highlighted filing

2024

Revenue$6,768,231
Expenses$6,899,029
Net Income-$130,798
Open 2024 Filing

Filings

Most recent year

2024 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$5,410,443
Liabilities
$90,834
Net assets
$5,319,609
Revenue
$6,768,231
Expenses
$6,899,029
Net income
-$130,798
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.41$0.09$5.32$6.77$6.90$0.13
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.37$0.04$4.33$4.40$4.78$0.38
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.18$0.41$5.76$4.56$5.18$0.63
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.90$0.04$5.86$4.56$4.87$0.31
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.62$0.05$5.56$4.35$4.75$0.41
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.20$0.05$9.16$2.35$5.19$2.84
2014Detailed filing. Detailed filing data is available for this year.$17.3$0.18$17.1$2.95$6.32$3.37
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.3$0.00$17.3$4.35
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.4$0.00$18.4$3.70
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$5,665,715
Mission and Program Overview

Mission

Provision of employee benefits

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$5,764,787$4,325,329▼ $1,439,458
Investments Other Securities$5,610,134$3,804,751▼ $1,805,383
Accounts Receivable$328,983$391,867▲ $62,884
Investments Program Related$150,000$150,000→ $0
Savings and Temporary Cash Investments$87,379$19,096▼ $68,283
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$6,176,496$4,365,915▼ $1,810,581
Other Assets Total$0$201▲ $201
Liabilities
Other Liabilities$372,420$0▼ $372,420
Accounts Payable and Accrued Expenses$39,289$40,586▲ $1,297
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$411,709$40,586▼ $371,123
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,764,787$4,325,329▼ $1,439,458
Total Liabilities and Net Assets / Fund Balance$6,176,496$4,365,915▼ $1,810,581

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$7,891--
Compensation and Service Providers
Top Officer Pay67th percentile

Employees

NameTitleBaseTotal
The Bank of New York MellonTrustee (see Schedule O)$21,167$21,167
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,341,091
Investment Income
$17,140
Other Revenue
$41,596
Change in Net Assets
$-382,446

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,399,827
Revenue Not Reported on Form 990
$-1,057,012
Total Revenue per Audited Statements
$3,342,815
Total Revenue per Form 990
$4,399,827
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$206,084
Salaries, Compensation, and Employee Benefits$21,167
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$4,555,022
Fees for Services Accounting---$35,400
Current Officers, Directors, Trustees, and Key Employees---$21,167
Fees for Service Investment Mgmnt Fees---$3,533
Other Expenses---$-5,622
Total Functional Expenses$0$0$0$4,782,273

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,782,273
Total Expenses per Audited Statements$4,782,273
Total Expenses per Form 990$4,782,273
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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

Governance Explanations

Form 990, Part VI, Section A, Lines 1A & B

“The bank of new york mellon serves as the sole directed trustee of the orange & rockland utilities mgmt wbp. The plan sponsor is orange & rockland utilities, inc. The trust is administered by the plan sponsor in accordance with the terms of the trust agreement. As such, the veba does not have a governing body that exercises discretion.”

Form 990, Part VI, Sections A & B, Lines 8, 12 15

“These questions are not applicable to this organization as it is a 501(c)(9)trust (voluntary employee benefits association). Additionally, the organization does not have employees, therefore no processes related to employee compensation are in place.”

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

“A complete electronic copy of the organization's form 990 was provided to the trustee for review prior to filing with the irs.”

Form 990, Part VI, Section C, Line 19

“As a 501(c)(9) organization, the trust is not required to make the documents referenced in question 19 available to the general public.”

Form 990, Part VII, Section A, Line 1A, Column (B)

“Average hours per week devoted to position: as trustee, the bank of new york mellon provides administrative services such as acting as investment manager for orange & rockland utilities mgmt wbp. These services require numerous individual bank employees' involvement in the activities of the organization and thus cannot be quantified on an hourly basis. Therefore, the trustee fees are not based upon an hourly basis, but are calculated based upon factors such as the fair market value of the account and in accordance with the bank of new york mellons agreement with orange & rockland utilities, inc.”

Filing and Contact Details

Filer

Filer Name
Orange & Rockland Utilities MGMT WBP
EIN
25-1755731
In Care Of
% THE BANK OF NEW YORK MELLON
Phone
4122341091
Address
4 IRVING PLACE 2ND FLOOR, NEW YORK, NY 10003

Signing Officer

Name
Robert Hoglund
Title
VP,CFO
Phone
4122341091
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
The Bank of New York Mellon
Formed
1994
Legal Domicile
Ny
Voting Board Members
1
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Ernst & Young US Llp
Address
1 MANHATTAN WEST, NEW YORK, NY 10001
Preparer
Nicole M Sokolowski
Phone
2127733000
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 1

“MODIFIED CASH BASIS”

Financial Statement Notes

Part X, Line 2 - Asc740

“Accounting principles generally accepted in the United States of America require management of the Plan Sponsor to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. During 2022 and 2021, the Plan filed the Plan's tax returns for 2021 and 2020, respectively. As a result of these filings, the Plan recorded a unrelated business income tax receivable of $201,176 as of December 31, 2022 and $69,580 as of December 31, 2021. Management of the Plan Sponsor has analyzed the tax positions taken by the Plan and has concluded that as of December 31, 2022, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Management of the Plan Sponsor believes it is no longer subject to income tax examinations for years prior to 2019.”

Raw XML AppendixShowing 400 of 401 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/BooksInCareOfDetail/PhoneNum04122341091
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IRS990/FeesForServicesLegalGrp/TotalAmt00
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Accounting principles generally accepted in the United States of America require management of the Plan Sponsor to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. During 2022 and 2021, the Plan filed the Plan's tax returns for 2021 and 2020, respectively. As a result of these filings, the Plan recorded a unrelated business income tax receivable of $201,176 as of December 31, 2022 and $69,580 as of December 31, 2021. Management of the Plan Sponsor has analyzed the tax positions taken by the Plan and has concluded that as of December 31, 2022, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Management of the Plan Sponsor believes it is no longer subject to income tax examinations for years prior to 2019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2 - ASC740
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BANK OF NEW YORK MELLON SERVES AS THE SOLE DIRECTED TRUSTEE OF THE ORANGE & ROCKLAND UTILITIES MGMT WBP. THE PLAN SPONSOR IS ORANGE & ROCKLAND UTILITIES, INC. THE TRUST IS ADMINISTERED BY THE PLAN SPONSOR IN ACCORDANCE WITH THE TERMS OF THE TRUST AGREEMENT. AS SUCH, THE VEBA DOES NOT HAVE A GOVERNING BODY THAT EXERCISES DISCRETION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THESE QUESTIONS ARE NOT APPLICABLE TO THIS ORGANIZATION AS IT IS A 501(C)(9)TRUST (VOLUNTARY EMPLOYEE BENEFITS ASSOCIATION). ADDITIONALLY, THE ORGANIZATION DOES NOT HAVE EMPLOYEES, THEREFORE NO PROCESSES RELATED TO EMPLOYEE COMPENSATION ARE IN PLACE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COMPLETE ELECTRONIC COPY OF THE ORGANIZATION'S FORM 990 WAS PROVIDED TO THE TRUSTEE FOR REVIEW PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AS A 501(C)(9) ORGANIZATION, THE TRUST IS NOT REQUIRED TO MAKE THE DOCUMENTS REFERENCED IN QUESTION 19 AVAILABLE TO THE GENERAL PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AVERAGE HOURS PER WEEK DEVOTED TO POSITION: AS TRUSTEE, THE BANK OF NEW YORK MELLON PROVIDES ADMINISTRATIVE SERVICES SUCH AS ACTING AS INVESTMENT MANAGER FOR ORANGE & ROCKLAND UTILITIES MGMT WBP. THESE SERVICES REQUIRE NUMEROUS INDIVIDUAL BANK EMPLOYEES' INVOLVEMENT IN THE ACTIVITIES OF THE ORGANIZATION AND THUS CANNOT BE QUANTIFIED ON AN HOURLY BASIS. THEREFORE, THE TRUSTEE FEES ARE NOT BASED UPON AN HOURLY BASIS, BUT ARE CALCULATED BASED UPON FACTORS SUCH AS THE FAIR MARKET VALUE OF THE ACCOUNT AND IN ACCORDANCE WITH THE BANK OF NEW YORK MELLONS AGREEMENT WITH ORANGE & ROCKLAND UTILITIES, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5MODIFIED CASH BASIS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINES 1A & B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 1
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0UTILITIES
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0Orange & Rockland Utilities Inc
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt04 Irving Place 2nd Floor
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ROBERT HOGLUND
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VP,CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum04122341091
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Orange & Rockland Utilities MGMT WBP
ReturnHeader/Filer/BusinessNameControlTxt0ORAN
ReturnHeader/Filer/EIN0251755731
ReturnHeader/Filer/InCareOfNm0% THE BANK OF NEW YORK MELLON
ReturnHeader/Filer/PhoneNum04122341091
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ERNST & YOUNG US LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01 MANHATTAN WEST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010001
ReturnHeader/PreparerPersonGrp/PhoneNum02127733000
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0NICOLE M SOKOLOWSKI
ReturnHeader/ReturnTs02023-11-15T16:55:05-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ROBERT
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0HOGLUND
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31

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