Civic Intelligence

Thermo Fisher Scientific Welfare Benefit

990 • Fiscal year 2017 • EIN 25-6412267

Jan 01, 2017 to Dec 31, 2017 • Filed on Sep 17, 2018

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

24th percentile

0.00x

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

2017 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

25th percentile

0.00x

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

2017 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2017

Net Margin

94th percentile

77%

Higher net margin than 94% of similar nonprofits.

2017 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

1st percentile

-$2,477

Higher top officer pay than 1% of similar nonprofits.

Top officer pay equals -0.4% of source-year revenue.

2017 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2017

Asset Growth

75th percentile

18%

Faster asset growth than 75% of similar nonprofits.

2017 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

97th percentile

143%

Faster revenue growth than 97% of similar nonprofits.

2017 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Assets

Up

$9,480,503

Up $1,441,749 (+18%) from 2016

Net Assets

Up

$9,480,503

Up $1,441,749 (+18%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue

Up

$560,920

Up $330,462 (+143%) from 2016

Expenses

Up

$129,640

Up $70,009 (+117%) from 2016

Net Income

Up

$431,280

Up $260,453 (+152%) from 2016

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

2017

Assets$9,480,503
Liabilities$0
Net Assets$9,480,503

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

2017

Revenue$560,920
Expenses$129,640
Net Income$431,280
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Sep 17, 2018
Return Version
2017v2.3
Gross Receipts
$761,946
Mission and Program Overview

Mission

Benefit trust for retirees and their dependents

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$8,038,754$9,480,503▲ $1,441,749
Investments in Publicly Traded Securities$8,004,930$9,184,647▲ $1,179,717
Savings and Temporary Cash Investments$27,097$295,581▲ $268,484
Accounts Receivable$6,727$275▼ $6,452
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$8,038,754$9,480,503▲ $1,441,749
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$8,038,754$9,480,503▲ $1,441,749
Total Liabilities and Net Assets / Fund Balance$8,038,754$9,480,503▲ $1,441,749
Compensation and Service Providers

Board Members and Trustees

NameTitle
The Bank of New York MellonTRUSTEE (See Schedule O)
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$277,113
Other Revenue
$283,807
Change in Net Assets
$431,280
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$132,117
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0
Salaries, Compensation, and Employee Benefits$-2,477

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting---$82,070
Fees for Services Other---$4,468
Other Expenses---$3,579
Current Officers, Directors, Trustees, and Key Employees---$-2,477
Total Functional Expenses$0$0$0$129,640
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 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 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

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.

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, Bnym, as Trustee
Phone
4122367175
Signed
2018-09-17

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
Shawn Hoffmann
Phone
4126447800
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

This amount represents a posting error to the incorrect account - ($4,598).

Form 990, Part XII, Line 1

MODIFIED CASH BASIS

Raw XML Appendix376 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/GrantAmt00
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IRS990/GrantsToIndividualsInd0false
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IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
IRS990/IndependentAuditFinclStmtInd0false
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IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
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IRS990/LocalChaptersInd0false
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IRS990/MoreThan5000KToIndividualsInd0false
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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 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.
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 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THIS AMOUNT REPRESENTS A POSTING ERROR TO THE INCORRECT ACCOUNT - ($4,598).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6MODIFIED CASH BASIS
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 A
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
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0330373077
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0CA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct00.00000
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0SALES/SVC/MFTG
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0LIFE TECHNOLOGIES CORPORATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfEOYAssetsAmt00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfTotalIncomeAmt00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt05791 VAN ALLEN WAY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0CARLSBAD
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0CA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd092008
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IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
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IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt08038754
IRS990/TotalAssetsEOYAmt09480503
IRS990/TotalAssetsGrp/BOYAmt08038754
IRS990/TotalAssetsGrp/EOYAmt09480503
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
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IRS990/TotalGrossUBIAmt0277113
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt08038754
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt09480503
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt00
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt0-2477
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0283807
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0560920
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0277113
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08038754
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09480503
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/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/PersonNm0BRENT HEINTZELMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VP, BNYM, AS TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum04122367175
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-09-17
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
ReturnHeader/Filer/USAddress/AddressLine1Txt0C/O THE BNYM PO BOX 535007
ReturnHeader/Filer/USAddress/CityNm0PITTSBURGH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd0152535007
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0FDA65B56AB043BE6CE40659025B6AA4D3805388D
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId00B7856F93E1FE286AA9E05E777D02CCD0323C704
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId025553720182605000008
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02018-09-17
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0164.57.159.253
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/PreparerPersonNm0Shawn Hoffmann
ReturnHeader/ReturnTs02018-09-17T11:36:44-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

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