Civic Intelligence

Thermo Fisher Scientific Welfare Benefit

990 • Fiscal year 2014 • EIN 25-6412267

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 16, 2015

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

(412) 236-7175

Siviq Scores

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

Liabilities / Assets

25th percentile

0.00x

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

2014 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

25th percentile

0.00x

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

2014 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2014

Net Margin

98th percentile

95%

Higher net margin than 98% of similar nonprofits.

2014 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

60th percentile

$4,058

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2014 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2014

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

$8,572,114

No earlier filing loaded for comparison.

Net Assets

$8,572,114

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue

$1,868,868

No earlier filing loaded for comparison.

Expenses

$98,292

No earlier filing loaded for comparison.

Net Income

$1,770,576

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$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

2014

Assets$8,572,114
Liabilities$0
Net Assets$8,572,114

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2014

Revenue$1,868,868
Expenses$98,292
Net Income$1,770,576
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 16, 2015
Return Version
2014v5.0
Gross Receipts
$8,515,648
Mission and Program Overview

Mission

Benefit trust for retirees and their dependents

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$8,237,476$8,572,114▲ $334,638
Investments in Publicly Traded Securities$8,134,695$8,355,743▲ $221,048
Savings and Temporary Cash Investments$102,780$216,368▲ $113,588
Accounts Receivable$1$3▲ $2
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--
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$8,237,476$8,572,114▲ $334,638
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
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$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$8,237,476$8,572,114▲ $334,638
Total Liabilities and Net Assets / Fund Balance$8,237,476$8,572,114▲ $334,638
Compensation and Service Providers

Employees

NameTitleBaseTotal
The Bank of New York MellonTrustee (schedule O)$4,058$4,058
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,868,868
Other Revenue
$0
Change in Net Assets
$1,770,576
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$44,850
Salaries, Compensation, and Employee Benefits$4,058
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$49,384
Current Officers, Directors, Trustees, and Key Employees---$4,058
Fees for Service Investment Mgmnt Fees---$2,511
Other Expenses---$750
Total Functional Expenses$0$0$0$98,292
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
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 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
Life Technologies Welfare Benefit Trust
EIN
25-6412267
In Care Of
% THE BANK OF NEW YORK MELLON
Phone
4122367175
Address
C/O THE BNYM PO BOX 535007, PITTSBURGH, PA 15253-5007

Signing Officer

Name
Brent Heintzelman
Title
VP, the Bnym, as Trustee
Phone
4122367175
Signed
2015-11-16
Discuss with paid preparer
Yes

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
Benjamin Pitchkites
Phone
4126447800
Supplemental Narrative

Additional Explanations

Supplemental Information

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 life technologies 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 life technologies 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's 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 life technologies inc. Form 990, part xii, line 1 modified cash basis

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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/ExplanationTxt0FORM 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 LIFE TECHNOLOGIES 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 LIFE TECHNOLOGIES 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'S 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 LIFE TECHNOLOGIES INC. FORM 990, PART XII, LINE 1 MODIFIED CASH BASIS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0SUPPLEMENTAL INFORMATION
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IRS990/TotalReportableCompFromOrgAmt04058
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ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRENT HEINTZELMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VP, THE BNYM, AS TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum04122367175
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-11-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Life Technologies Welfare Benefit Trust
ReturnHeader/Filer/BusinessNameControlTxt0LIFE
ReturnHeader/Filer/EIN0256412267
ReturnHeader/Filer/InCareOfNm0% THE BANK OF NEW YORK MELLON
ReturnHeader/Filer/PhoneNum04122367175
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ERNST & YOUNG US LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02100 ONE PPG PLACE
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ReturnHeader/PreparerPersonGrp/PhoneNum04126447800
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BENJAMIN PITCHKITES
ReturnHeader/ReturnTs02015-11-16T15:28:32-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

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