Civic Intelligence

Thermo Fisher Scientific Welfare Benefit

EIN 25-6412267 • 501(c)9 • Pittsburgh, PA

Profile

Benefit trust for retirees and their dependents

C/O The Bnym PO Box 535007Pittsburgh, PA 15253-5007

n/A

Siviq Scores

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

Liabilities / Assets

34th percentile

0.00x

Higher debt load relative to assets than 34% of similar nonprofits.

501(c)9 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

53rd percentile

0.03x

Higher debt load relative to revenue than 53% of similar nonprofits.

501(c)9 • $10M-$25M nonprofits • Source year 2024

Net Margin

49th percentile

4.4%

Higher net margin than 49% of similar nonprofits.

501(c)9 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

52nd percentile

$2,551

Higher top officer pay than 52% of similar nonprofits.

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

501(c)9 • $10M-$25M nonprofits • Source year 2024

Asset Growth

47th percentile

5.4%

Faster asset growth than 47% of similar nonprofits.

501(c)9 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

88th percentile

36%

Faster revenue growth than 88% of similar nonprofits.

501(c)9 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$12,725,241

Up $647,889 (+5.4%) from 2023

Liabilities

Up

$19,613

Up $2,874 (+17%) from 2023

Net Assets

Up

$12,705,628

Up $645,015 (+5.3%) from 2023

Revenue

Up

$770,630

Up $204,951 (+36%) from 2023

Expenses

Up

$736,677

Up $155,455 (+27%) from 2023

Net Income

Up

$33,953

Up $49,496 (+318%) from 2023

Trend Graphs

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2014: $8,572,114Liabilities 2014: $0Net Assets 2014: $8,572,1142014Assets 2015: $7,516,049Liabilities 2015: $0Net Assets 2015: $7,516,0492015Assets 2016: $8,038,754Liabilities 2016: $0Net Assets 2016: $8,038,7542016Assets 2017: $9,480,503Liabilities 2017: $0Net Assets 2017: $9,480,5032017Assets 2018: $8,922,565Liabilities 2018: $0Net Assets 2018: $8,922,5652018Assets 2019: $10,660,220Liabilities 2019: $9,682Net Assets 2019: $10,650,5382019Assets 2020: $12,179,070Liabilities 2020: $10,000Net Assets 2020: $12,169,0702020Assets 2021: $13,296,709Liabilities 2021: $10,328Net Assets 2021: $13,286,3812021Assets 2022: $10,880,605Liabilities 2022: $0Net Assets 2022: $10,880,6052022Assets 2023: $12,077,352Liabilities 2023: $16,739Net Assets 2023: $12,060,6132023Assets 2024: $12,725,241Liabilities 2024: $19,613Net Assets 2024: $12,705,6282024

Highlighted filing

2024

Assets$12,725,241
Liabilities$19,613
Net Assets$12,705,628

Operations Trend

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

$2.0M$1.0M$0-$1.0MRevenue 2014: $1,868,868Expenses 2014: $98,292Net Income 2014: $1,770,5762014Revenue 2015: $261,290Expenses 2015: $1,100,046Net Income 2015: -$838,7562015Revenue 2016: $230,458Expenses 2016: $59,631Net Income 2016: $170,8272016Revenue 2017: $560,920Expenses 2017: $129,640Net Income 2017: $431,2802017Revenue 2018: $383,251Expenses 2018: $133,776Net Income 2018: $249,4752018Revenue 2019: $298,657Expenses 2019: $94,537Net Income 2019: $204,1202019Revenue 2020: $587,619Expenses 2020: $81,248Net Income 2020: $506,3712020Revenue 2021: $770,804Expenses 2021: $259,527Net Income 2021: $511,2772021Revenue 2022: $402,979Expenses 2022: $242,545Net Income 2022: $160,4342022Revenue 2023: $565,679Expenses 2023: $581,222Net Income 2023: -$15,5432023Revenue 2024: $770,630Expenses 2024: $736,677Net Income 2024: $33,9532024

Highlighted filing

2024

Revenue$770,630
Expenses$736,677
Net Income$33,953

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 25, 2025
Return Version
2024v5.2
Gross Receipts
$1,406,645
Mission and Program Overview

Mission

Benefit trust for retirees and their dependents

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$12,060,613$12,705,628▲ $645,015
Investments in Publicly Traded Securities$12,007,811$12,658,715▲ $650,904
Savings and Temporary Cash Investments$52,480$46,609▼ $5,871
Accounts Receivable$17,061$19,917▲ $2,856
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 Other Securities$0$0→ $0
Investments Program Related$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$12,077,352$12,725,241▲ $647,889
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$16,739$19,613▲ $2,874
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$16,739$19,613▲ $2,874
Net Assets / Fund Balance
Total Net Assets Fund Balance$12,060,613$12,705,628▲ $645,015
Total Liabilities and Net Assets / Fund Balance$12,077,352$12,725,241▲ $647,889
Compensation and Service Providers

Employees

NameTitleBaseTotal
The Bank of New York MellonTRUSTEE (See Schedule O)$2,551$2,551
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$753,561
Other Revenue
$17,069
Change in Net Assets
$33,953
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$734,126
Salaries, Compensation, and Employee Benefits$2,551
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other---$195,951
Other Expenses---$5,922
Current Officers, Directors, Trustees, and Key Employees---$2,551
Total Functional Expenses$0$0$0$736,677
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
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 this trust. The plan sponsor is thermo fisher scientific, 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 the trust. Additionally, the trust does not have any 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 thermo fisher scientific welfare benefit trust. 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 upon factors such as the market value of the account and in accordance with the bank of new york mellon's agreement with thermo fisher scientific inc.

Filing and Contact Details

Filer

Filer Name
Thermo Fisher Scientific Welfare Benefit
EIN
25-6412267
In Care Of
% THE BANK OF NEW YORK MELLON
Phone
4122342242
Address
C/O THE BNYM PO BOX 535007, PITTSBURGH, PA 15253-5007

Signing Officer

Name
Shelly Paletta
Title
SVP, Bnym, as Truste
Phone
4122342242
Signed
2025-10-25

Organization Details

Principal Officer
The Bank of New York Mellon
Formed
1993
Legal Domicile
Ny
Voting Board Members
1
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Ernst & Young US Llp
Address
2100 ONE PPG PLACE, PITTSBURGH, PA 15222
Preparer
Lindsey Pigg
Phone
4126447800
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Wash sales adjustment of ($17,069)

Form 990, Part XII, Line 1

MODIFIED CASH BASIS

Form 990 Part IX Line 11G

Description:consulting fees total fees:195951

Raw XML Appendix377 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/ExplanationTxt0THE BANK OF NEW YORK MELLON SERVES AS THE SOLE DIRECTED TRUSTEE OF THIS TRUST. THE PLAN SPONSOR IS THERMO FISHER SCIENTIFIC, 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 THE TRUST. ADDITIONALLY, THE TRUST DOES NOT HAVE ANY 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 THERMO FISHER SCIENTIFIC WELFARE BENEFIT TRUST. 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 UPON FACTORS SUCH AS THE MARKET VALUE OF THE ACCOUNT AND IN ACCORDANCE WITH THE BANK OF NEW YORK MELLON'S AGREEMENT WITH THERMO FISHER SCIENTIFIC INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5WASH SALES ADJUSTMENT OF ($17,069)
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6MODIFIED CASH BASIS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7DESCRIPTION:CONSULTING FEES TOTAL FEES:195951
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINES 1A & B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTIONS A & B, LINES 8, 12-15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VII, SECTION A, LINE 1A, COLUMN (B)
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990 PART IX LINE 11G
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0042209186
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0DE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct00.00000
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0SALES/SVC/MFT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0THERMO FISHER SCIENTIFIC INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfEOYAssetsAmt00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfTotalIncomeAmt00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0300 Industry Drive
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0PITTSBURGH
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0PA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd0152751001
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IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
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IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
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IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt012077352
IRS990/TotalAssetsEOYAmt012725241
IRS990/TotalAssetsGrp/BOYAmt012077352
IRS990/TotalAssetsGrp/EOYAmt012725241
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0736677
IRS990/TotalGrossUBIAmt0770630
IRS990/TotalLiabilitiesBOYAmt016739
IRS990/TotalLiabilitiesEOYAmt019613
IRS990/TotalLiabilitiesGrp/BOYAmt016739
IRS990/TotalLiabilitiesGrp/EOYAmt019613
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt012060613
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt012705628
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt00
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt02551
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0770630
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0770630
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt012077352
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt012725241
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 535007
IRS990/USAddress/CityNm0PITTSBURGH
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd0152535007
IRS990/VotingMembersGoverningBodyCnt01
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Shelly Paletta
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SVP, BNYM, AS TRUSTE
ReturnHeader/BusinessOfficerGrp/PhoneNum04122342242
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-10-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Thermo Fisher Scientific Welfare Benefit
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0Trust
ReturnHeader/Filer/BusinessNameControlTxt0THER
ReturnHeader/Filer/EIN0256412267
ReturnHeader/Filer/InCareOfNm0% THE BANK OF NEW YORK MELLON
ReturnHeader/Filer/PhoneNum04122342242
ReturnHeader/Filer/USAddress/AddressLine1Txt0C/O THE BNYM PO BOX 535007
ReturnHeader/Filer/USAddress/CityNm0PITTSBURGH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd0152535007
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ERNST & YOUNG US LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02100 ONE PPG PLACE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PITTSBURGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd015222
ReturnHeader/PreparerPersonGrp/PhoneNum04126447800
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Lindsey Pigg
ReturnHeader/ReturnTs02025-10-31T12:39:18-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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