Civic Intelligence

Tw Phillips Gas and Oil Co Vol Emp Bene

990 • Fiscal year 2023 • EIN 25-1782940

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

Organization ProfileN/A
762 W Lancaster AvenueBryn Mawr, PA 19010

(412) 208-6631

Siviq Scores

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

Liabilities / Assets

24th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)9 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

25th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)9 • $10M-$25M nonprofits • Source year 2023

Net Margin

96th percentile

72%

Higher net margin than 96% of similar nonprofits.

2023 filings • 501(c)9 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

55th percentile

$7,368

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2023 filings • 501(c)9 • $10M-$25M nonprofits • Source year 2023

Asset Growth

78th percentile

16%

Faster asset growth than 78% of similar nonprofits.

2023 filings • 501(c)9 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

6th percentile

-34%

Faster revenue growth than 6% of similar nonprofits.

2023 filings • 501(c)9 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets24th percentile

Assets

Up

$14,220,874

Up $1,924,130 (+16%) from 2022

Net Assets

Up

$14,220,874

Up $1,948,089 (+16%) from 2022

Liabilities

Down

$0

Down $23,959 (-100%) from 2022

Revenue And Expenses
Liabilities / Revenue25th percentileNet Margin96th percentile

Revenue

Down

$348,854

Down $183,520 (-34%) from 2022

Expenses

Down

$96,307

Down $2,357 (-2.4%) from 2022

Net Income

Down

$252,547

Down $181,163 (-42%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth78th percentile

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

$20M$15M$10M$5.0M$0Assets 2018: $8,099,864Liabilities 2018: $0Net Assets 2018: $8,099,8642018Assets 2019: $10,866,031Liabilities 2019: $0Net Assets 2019: $10,866,0312019Assets 2020: $13,662,053Liabilities 2020: $0Net Assets 2020: $13,662,0532020Assets 2021: $15,734,393Liabilities 2021: $0Net Assets 2021: $15,734,3932021Assets 2022: $12,296,744Liabilities 2022: $23,959Net Assets 2022: $12,272,7852022Assets 2023: $14,220,874Liabilities 2023: $0Net Assets 2023: $14,220,8742023Assets 2024: $13,297,909Liabilities 2024: $0Net Assets 2024: $13,297,9092024

Highlighted filing

2023

Assets$14,220,874
Liabilities$0
Net Assets$14,220,874
Open 2023 Filing

Operations Trend

Revenue Growth6th percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2018: $2,286,368Expenses 2018: $249,837Net Income 2018: $2,036,5312018Revenue 2019: $2,423,200Expenses 2019: $177,893Net Income 2019: $2,245,3072019Revenue 2020: $3,122,064Expenses 2020: $120,026Net Income 2020: $3,002,0382020Revenue 2021: $287,501Expenses 2021: $217,065Net Income 2021: $70,4362021Revenue 2022: $532,374Expenses 2022: $98,664Net Income 2022: $433,7102022Revenue 2023: $348,854Expenses 2023: $96,307Net Income 2023: $252,5472023Revenue 2024: $1,307,207Expenses 2024: $2,689,228Net Income 2024: -$1,382,0212024

Highlighted filing

2023

Revenue$348,854
Expenses$96,307
Net Income$252,547
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$348,854
Mission and Program Overview

Mission

Provide medical and life insurance benefits to retired employee participants

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$12,294,728$14,220,874▲ $1,926,146
Investments Other Securities$11,561,379$13,547,163▲ $1,985,784
Savings and Temporary Cash Investments$733,349$670,725▼ $62,624
Accounts Receivable-$2,986-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$12,294,728$14,220,874▲ $1,926,146
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$12,294,728$14,220,874▲ $1,926,146
Total Liabilities and Net Assets / Fund Balance$12,294,728$14,220,874▲ $1,926,146

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$13,547,163--
Compensation and Service Providers
Top Officer Pay55th percentile

Employees

NameTitleBaseTotal
Christopher LuningInstitutional Trustee$7,368$7,368

Board Members and Trustees

NameTitle
Daniel SchullerChairman & CEO
Michael HuwarPresident, Aqua
Matthew Rhodes Evp ofPresident, Peoples Natural Gas
Christopher FranklinController
Christina KellyExec. VP, CFO
Robert a RubinExec. VP, Counsel, Secreta
Colleen ArnoldSr. VP., Chief Hr Officer
-Strategy & Corporate Development
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$348,854
Other Revenue
$0
Change in Net Assets
$252,547
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$70,032
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other---$52,622
Benefits to Members---$26,275
Fees for Services Accounting---$14,742
Fees for Services Legal---$2,668
Total Functional Expenses$0$0$0$96,307
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
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Business relationships: christopher luning, robert rubin, christopher franklin, daniel schuller, christina kelly, colleen arnold, michael huwar, matthew rhodes”

Form 990, Part VI, Section A, Line 7A

“All of the individual officers are employees of essential utilities, inc., the plan sponsor and fiduciary. They serve on the retirement and benefits committee by virtue of their positions with the plan sponsor.”

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

“The return is reviewed by the essential utilities retirement and benefits committee or their designees. Then it is signed by an authorized officer. The form 990 document will be available for all members after it has been filed with the u.s. Treasury. Upon filing, the document is available to all members upon request.”

Form 990, Part VI, Section B, Line 12

“The governing board is subject to the conflict of interest, whistleblower and document retention/destruction policies in addition to annual disclosure requirements of the plan sponsor.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents are available upon written request.”

Form 990, Part VII Contact Addresses for Officers, Directors, Etc

“Bny mellon - 240 greenwich street, new york, ny 10007.”

Filing and Contact Details

Filer

Filer Name
Twp Veba
EIN
25-1782940
Phone
4122086631
Address
762 W LANCASTER AVENUE, BRYN MAWR, PA 19010

Signing Officer

Name
Robert a Rubin
Title
Controller
Phone
4122086631
Signed
2024-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Rubin
Formed
1996
Legal Domicile
Pa
Voting Board Members
1
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Schneider Downs & Co Inc
Address
ONE PPG PLACE SUITE 1700, PITTSBURGH, PA 15222
Preparer
Erin F Wood
Phone
4122613644
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Actuarial fees 23,420. Consulting fees 21,834. Trustee/custodian fees 7,368.”

Financial Statement Notes

PART X, LINE 2:

“The veba trusts funding certain benefits of the plan received exemption letters from the internal revenue service (irs) dated march 7, 1996, july 26, 1996, november 7, 1998 and april 22, 2014, stating that the trusts are tax-exempt under the provisions of section 501(c)(9) of the irc. However, as a result of the plan's funding policy, from time to time the trusts may be subject to income taxes. While federal income taxes have been recorded in 2023 and 2022 for unrelated business taxable income, no state income taxes have been recorded for unrelated business taxable income. In addition, the plan and the trusts are required to operate in conformity with the irc to maintain the tax-exempt status of the trusts. Although the plan has been amended since receiving the exemption letter, the plan administrator believes that the plan is being operated in compliance with the applicable requirements of the irc and, therefore, believes that the related trusts are tax-exempt. Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the plan and recognize a tax liability if the plan has taken an unrelated position that more likely than not would not be sustained upon examination by the irs. The plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The plan administrator believes that the plan is no longer subject to income tax examinations for years prior to 2020.”

Raw XML Appendix353 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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IRS990/Form990PartVIISectionAGrp/TitleTxt0INSTITUTIONAL TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt1EXEC. VP, COUNSEL, SECRETA
IRS990/Form990PartVIISectionAGrp/TitleTxt2CONTROLLER
IRS990/Form990PartVIISectionAGrp/TitleTxt3CHAIRMAN & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt4EXEC. VP, CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt5SR. VP., CHIEF HR OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt6PRESIDENT, AQUA
IRS990/Form990PartVIISectionAGrp/TitleTxt7PRESIDENT, PEOPLES NATURAL GAS
IRS990/Form990PartVIISectionAGrp/TitleTxt8STRATEGY & CORPORATE DEVELOPMENT
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE VEBA TRUSTS FUNDING CERTAIN BENEFITS OF THE PLAN RECEIVED EXEMPTION LETTERS FROM THE INTERNAL REVENUE SERVICE (IRS) DATED MARCH 7, 1996, JULY 26, 1996, NOVEMBER 7, 1998 AND APRIL 22, 2014, STATING THAT THE TRUSTS ARE TAX-EXEMPT UNDER THE PROVISIONS OF SECTION 501(C)(9) OF THE IRC. HOWEVER, AS A RESULT OF THE PLAN'S FUNDING POLICY, FROM TIME TO TIME THE TRUSTS MAY BE SUBJECT TO INCOME TAXES. WHILE FEDERAL INCOME TAXES HAVE BEEN RECORDED IN 2023 AND 2022 FOR UNRELATED BUSINESS TAXABLE INCOME, NO STATE INCOME TAXES HAVE BEEN RECORDED FOR UNRELATED BUSINESS TAXABLE INCOME. IN ADDITION, THE PLAN AND THE TRUSTS ARE REQUIRED TO OPERATE IN CONFORMITY WITH THE IRC TO MAINTAIN THE TAX-EXEMPT STATUS OF THE TRUSTS. ALTHOUGH THE PLAN HAS BEEN AMENDED SINCE RECEIVING THE EXEMPTION LETTER, THE PLAN ADMINISTRATOR BELIEVES THAT THE PLAN IS BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC AND, THEREFORE, BELIEVES THAT THE RELATED TRUSTS ARE TAX-EXEMPT. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY IF THE PLAN HAS TAKEN AN UNRELATED POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE PLAN ADMINISTRATOR BELIEVES THAT THE PLAN IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2020.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BUSINESS RELATIONSHIPS: CHRISTOPHER LUNING, ROBERT RUBIN, CHRISTOPHER FRANKLIN, DANIEL SCHULLER, CHRISTINA KELLY, COLLEEN ARNOLD, MICHAEL HUWAR, MATTHEW RHODES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL OF THE INDIVIDUAL OFFICERS ARE EMPLOYEES OF ESSENTIAL UTILITIES, INC., THE PLAN SPONSOR AND FIDUCIARY. THEY SERVE ON THE RETIREMENT AND BENEFITS COMMITTEE BY VIRTUE OF THEIR POSITIONS WITH THE PLAN SPONSOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE RETURN IS REVIEWED BY THE ESSENTIAL UTILITIES RETIREMENT AND BENEFITS COMMITTEE OR THEIR DESIGNEES. THEN IT IS SIGNED BY AN AUTHORIZED OFFICER. THE FORM 990 DOCUMENT WILL BE AVAILABLE FOR ALL MEMBERS AFTER IT HAS BEEN FILED WITH THE U.S. TREASURY. UPON FILING, THE DOCUMENT IS AVAILABLE TO ALL MEMBERS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING BOARD IS SUBJECT TO THE CONFLICT OF INTEREST, WHISTLEBLOWER AND DOCUMENT RETENTION/DESTRUCTION POLICIES IN ADDITION TO ANNUAL DISCLOSURE REQUIREMENTS OF THE PLAN SPONSOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BNY MELLON - 240 GREENWICH STREET, NEW YORK, NY 10007.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ACTUARIAL FEES 23,420. CONSULTING FEES 21,834. TRUSTEE/CUSTODIAN FEES 7,368.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VII CONTACT ADDRESSES FOR OFFICERS, DIRECTORS, ETC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
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IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0PUBLIC UTILITY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt1WATER AND NATURAL GAS UTILITY
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1ESSENTIAL UTILITIES
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd01
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
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IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalCompGreaterThan150KInd00
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CONTROLLER
ReturnHeader/BusinessOfficerGrp/PhoneNum04122086631
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-14
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ReturnHeader/Filer/PhoneNum04122086631
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ReturnHeader/Filer/USAddress/CityNm0BRYN MAWR
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCHNEIDER DOWNS & CO INC
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PITTSBURGH
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ERIN F WOOD
ReturnHeader/ReturnTs02024-11-14T15:02:28-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$14,220,874
Liabilities
$0
Net assets
$14,220,874
Revenue
$348,854
Expenses
$96,307
Net income
$252,547
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.3$0.00$13.3$1.31$2.69$1.38
2023Detailed filing. Detailed filing data is available for this year.$14.2$0.00$14.2$0.35$0.10$0.25
2022Detailed filing. Detailed filing data is available for this year.$12.3$0.02$12.3$0.53$0.10$0.43
2021Detailed filing. Detailed filing data is available for this year.$15.7$0.00$15.7$0.29$0.22$0.07
2020Detailed filing. Detailed filing data is available for this year.$13.7$0.00$13.7$3.12$0.12$3.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.9$0.00$10.9$2.42$0.18$2.25
2018Detailed filing. Detailed filing data is available for this year.$8.10$0.00$8.10$2.29$0.25$2.04