Civic Intelligence

The Prudential Welfare Benefits Trust

990 • Fiscal year 2019 • EIN 25-6702878

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 10, 2020

Organization Profile
751 Broad Street 18th FloorNewark, NJ 07102

(763) 519-2208

Siviq Scores

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

Liabilities / Assets

23rd percentile

0.00x

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

2019 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2019

Liabilities / Revenue

23rd percentile

0.00x

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

2019 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2019

Net Margin

28th percentile

-0.8%

Higher net margin than 28% of similar nonprofits.

2019 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2019

Top Officer Pay

29th percentile

$0

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

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

Source year 2019

Revenue Growth

Score unavailable

No value available

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

Source year 2019

Balance Sheet
Liabilities / Assets23rd percentile

Assets

$58,725,989

No earlier filing loaded for comparison.

Net Assets

$58,725,989

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue23rd percentileNet Margin28th percentile

Revenue

$280,443,207

No earlier filing loaded for comparison.

Expenses

$282,678,284

No earlier filing loaded for comparison.

Net Income

-$2,235,077

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$80M$60M$40M$20M$0Assets 2019: $58,725,989Liabilities 2019: $0Net Assets 2019: $58,725,9892019Assets 2020: $70,117,932Liabilities 2020: $0Net Assets 2020: $70,117,9322020Assets 2021: $23,018,916Liabilities 2021: $0Net Assets 2021: $23,018,9162021Assets 2022: $21,261,674Liabilities 2022: $0Net Assets 2022: $21,261,6742022Assets 2023: $20,749,048Liabilities 2023: $0Net Assets 2023: $20,749,0482023Assets 2024: $21,647,302Liabilities 2024: $0Net Assets 2024: $21,647,3022024

Highlighted filing

2019

Assets$58,725,989
Liabilities$0
Net Assets$58,725,989
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$300M$200M$100M$0-$100MRevenue 2019: $280,443,207Expenses 2019: $282,678,284Net Income 2019: -$2,235,0772019Revenue 2020: $262,682,032Expenses 2020: $251,837,003Net Income 2020: $10,845,0292020Revenue 2021: $232,992,033Expenses 2021: $278,457,081Net Income 2021: -$45,465,0482021Revenue 2022: $240,935,687Expenses 2022: $239,598,258Net Income 2022: $1,337,4292022Revenue 2023: $271,925,011Expenses 2023: $274,089,986Net Income 2023: -$2,164,9752023Revenue 2024: $277,539,445Expenses 2024: $276,781,957Net Income 2024: $757,4882024

Highlighted filing

2019

Revenue$280,443,207
Expenses$282,678,284
Net Income-$2,235,077
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 10, 2020
Return Version
2019v5.1
Gross Receipts
$285,447,351
Mission and Program Overview

Mission

The Prudential Welfare Benefits Trust is intended to fund medical, dental, disability, and other welfare benefits payable to participants and their dependents in the Prudential Welfare Benefits Plan.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$58,134,690$58,725,989▲ $591,299
Investments Other Securities$47,685,044$47,103,472▼ $581,572
Investments in Publicly Traded Securities$10,449,646$11,622,517▲ $1,172,871
Total Assets$58,134,690$58,725,989▲ $591,299
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$58,134,690$58,725,989▲ $591,299
Total Liabilities and Net Assets / Fund Balance$58,134,690$58,725,989▲ $591,299

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$47,103,472--
Compensation and Service Providers
Top Officer Pay29th percentile

Board Members and Trustees

NameTitle
Prudential Trust CompanyTrustee
Gary NeubeckMember of the Investment Oversight Committee
Lucien AlziariMember of the Investment Oversight Committee
Sara BonesteelMember of the Investment Oversight Committee

Highest Paid Contractors

ContractorServicesLocationCompensation
Prudential Trust CompanyInvestment Management30 Scranton Office Park, Scranton, PA 18507-1796$120,986
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$278,399,516
Investment Income
$2,043,691
Other Revenue
$0
Change in Net Assets
$-2,235,077
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$120,986
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
Benefits to Members---$282,557,298
Fees for Service Investment Mgmnt Fees---$120,986
Total Functional Expenses$0$0$0$282,678,284
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Prudential Trust CompanyTrusteeInvestment managementNo$120,986
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“Governance, Management, and Disclosure, Policies The Vice President of Compensation and Benefits Accounting reviews the Form 990 draft. After such review, the filing is sent to the following for review before mailing members of the Prudential Administrative Committee which is the administrator of The Prudential Welfare Benefits Plan the Plan, legal counsel for the Plan and the Tax Department of The Prudential Insurance Company of America, the Plan sponsor.”

Form 990, Part VI, Section B, Line 12C

“Governance, Management, and Disclosure, Policies All persons with roles related to The Prudential Welfare Benefits Trust are employed by The Prudential Insurance Company of America the Company. The Company requires employees to annualy disclose conflicts of interest questionnaires that are monitored for completion.”

Form 990, Part VI, Section C, Line 19

“Governance, Management, and Disclosure No documentation available to the public.”

Form 990, Part VII, Section 1, Line A

“Part VII Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors Compensation for the Investment Oversight Committee members is reported as zero as the members serve as volunteers.”

Filing and Contact Details

Filer

Filer Name
The Prudential Welfare Benefits Trust
EIN
25-6702878
Phone
7635192208
Address
751 Broad Street 18th Floor, Newark, NJ 07102

Signing Officer

Name
Thomas Laurita
Title
Officer
Phone
7635192208
Signed
2020-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Prudential Trust Co
Formed
2001
Legal Domicile
Pa
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
3

Preparer

Firm
Deloitte Tax LLP
Address
30 Rockefeller Plaza, New York, NY 10112
Preparer
Marco V Bertolozzi
Phone
2124362264
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Governance, Management, and Disclosure, Policies All persons with roles related to The Prudential Welfare Benefits Trust are employed by The Prudential Insurance Company of America the Company. The Company requires employees to annualy disclose conflicts of interest questionnaires that are monitored for completion.
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0The Prudential Welfare Benefits Trust
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1The Prudential Retiree Life Insurance Trust
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2The Prudential Welfare Benefits Trust for UN EE's
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3The Prudential Voluntary Life Insurance Trust
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1Fund benefit payment
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1751 Broad St
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt2751 Broad St
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt3751 Broad St
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Newark
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1Newark
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm2Newark
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm3Newark
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd2NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd3NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd007102
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd107102
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd207102
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd307102
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt04246886
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Reimbursement of Benefit Payments
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0The Prudential Insurance Company of America
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0r
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0true
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt058134690
IRS990/TotalAssetsEOYAmt058725989
IRS990/TotalAssetsGrp/BOYAmt058134690
IRS990/TotalAssetsGrp/EOYAmt058725989
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0282678284
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt058134690
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt058725989
IRS990/TotalProgramServiceRevenueAmt0278399516
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0280443207
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0280443207
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt058134690
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt058725989
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt030 Scranton Office Park
IRS990/USAddress/CityNm0Scranton
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd0185071796
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Thomas Laurita
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Officer
ReturnHeader/BusinessOfficerGrp/PhoneNum07635192208
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0The Prudential Welfare Benefits Trust
ReturnHeader/Filer/BusinessNameControlTxt0PRUD
ReturnHeader/Filer/EIN0256702878
ReturnHeader/Filer/PhoneNum07635192208
ReturnHeader/Filer/USAddress/AddressLine1Txt0751 Broad Street 18th Floor
ReturnHeader/Filer/USAddress/CityNm0Newark
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007102
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0AA62DB420290896C1B38A68D881FCC7FB6C81764
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0AA62DB420290896C1B38A68D881FCC7FB6C81764
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0198.135.124.18
ReturnHeader/FilingSecurityInformation/IPDt02020-11-11
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm009:20:24
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Deloitte Tax LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt030 Rockefeller Plaza
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0New York
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010112
ReturnHeader/PreparerPersonGrp/PhoneNum02124362264
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Marco V Bertolozzi
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02020-11-11T04:58:44-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$58,725,989
Liabilities
$0
Net assets
$58,725,989
Revenue
$280,443,207
Expenses
$282,678,284
Net income
-$2,235,077
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.6$0.00$21.6$278$277$0.76
2023Detailed filing. Detailed filing data is available for this year.$20.7$0.00$20.7$272$274$2.16
2022Detailed filing. Detailed filing data is available for this year.$21.3$0.00$21.3$241$240$1.34
2021Detailed filing. Detailed filing data is available for this year.$23.0$0.00$23.0$233$278$45.5
2020Detailed filing. Detailed filing data is available for this year.$70.1$0.00$70.1$263$252$10.8
2019Detailed filing. Detailed filing data is available for this year.$58.7$0.00$58.7$280$283$2.24