Civic Intelligence

Illinois Central Railroad Employee Benefits Trust

EIN 27-6990053 • 501(c)9 • Pittsburgh, PA

Profile

Illinois central railroad employee benefits trust provides life, sick, accident, and other permitted employee benefits under illinois central railroad funded welfare plan.

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

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2014

Liabilities / Revenue

38th percentile

0.00x

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

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

Net Margin

15th percentile

-19%

Higher net margin than 15% of similar nonprofits.

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

Top Officer Pay

67th percentile

$30,137

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

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

Asset Growth

10th percentile

-100%

Faster asset growth than 10% of similar nonprofits.

501(c)9 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

15th percentile

-13%

Faster revenue growth than 15% of similar nonprofits.

501(c)9 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $1,131,898 (-100%) from 2013

Liabilities

Flat

$0

Flat from 2013

Net Assets

Down

$0

Down $1,131,898 (-100%) from 2013

Operations
Liabilities / Revenue38th percentileNet Margin15th percentile

Revenue

Down

$5,983,853

Down $859,668 (-13%) from 2013

Expenses

Up

$7,115,749

Up $800,001 (+13%) from 2013

Net Income

Down

-$1,131,896

Down $1,659,669 (-314%) from 2013

Trend Graphs

Balance Sheet Trend

Asset Growth10th percentile

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

$1.5M$1.0M$500K$0Assets 2013: $1,131,898Liabilities 2013: $0Net Assets 2013: $1,131,8982013Assets 2014: $0Liabilities 2014: $0Net Assets 2014: $02014

Highlighted filing

2014

Assets$0
Liabilities$0
Net Assets$0
Open 2014 Filing

Operations Trend

Revenue Growth15th percentile

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

$10M$5.0M$0-$5.0MRevenue 2013: $6,843,521Expenses 2013: $6,315,748Net Income 2013: $527,7732013Revenue 2014: $5,983,853Expenses 2014: $7,115,749Net Income 2014: -$1,131,8962014

Highlighted filing

2014

Revenue$5,983,853
Expenses$7,115,749
Net Income-$1,131,896
Open 2014 Filing

Filings

Most recent year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$5,983,853
Expenses
$7,115,749
Net income
-$1,131,896
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2014Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$5.98$7.12$1.13
2013Detailed filing. Detailed filing data is available for this year.$1.13$0.00$1.13$6.84$6.32$0.53
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 13, 2015
Return Version
2014v5.0
Gross Receipts
$5,983,853
Mission and Program Overview

Mission

Illinois central railroad employee benefits trust provides life, sick, accident, and other permitted employee benefits under illinois central railroad funded welfare plan.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,431,898$0▼ $1,431,898
Cap Stk Tr Prin Current Funds$1,131,898$0▼ $1,131,898
Accounts Receivable$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
Investments in Publicly Traded Securities$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→ $0
Cash and Non-Interest-Bearing Accounts$-300,000$0▲ $300,000
Total Assets$1,131,898$0▼ $1,131,898
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$1,131,898$0▼ $1,131,898
Total Liabilities and Net Assets / Fund Balance$1,131,898$0▼ $1,131,898
Compensation and Service Providers
Top Officer Pay67th percentile

Employees

NameTitleBaseTotal
The Bank of New York MellonTrustee (see Schedule O)$30,137$30,137

Highest Paid Contractors

ContractorServicesLocationCompensation
BcbsAdministration225 NORTH MICHIGAN AVENUE, Chicago, IL 60601$381,511
Marsh Affinity Group ServicesAdministration1166 AVENUE OF THE AMERICAS, New York, NY 10036-2774$174,767
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,983,851
Investment Income
$2
Other Revenue
$0
Change in Net Assets
$-1,131,896
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$585,427
Salaries, Compensation, and Employee Benefits$30,137
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$6,500,185
Other Expenses---$574,536
Current Officers, Directors, Trustees, and Key Employees---$30,137
Fees for Services Other---$10,891
Total Functional Expenses$0$0$0$7,115,749
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

Governance Explanations

Form 990 Part VI Section A Line 1A & B

“The bank of new york mellon serves as the sole directed trustee of this trust. The plan sponsor is illinois central railroad company. 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 Section B Line 11 B

“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 A & B Line 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 C Line 19

“As a 501(c)(9) organization this 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 the illinois central railroad employee benefits 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 based upon factors such as the market value of the account and in accordance with the bank of new york mellon's agreement with illinois central railroad company.”

Filing and Contact Details

Filer

Filer Name
Illinois Central Railroad Employee Benefits
EIN
27-6990053
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
2015-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
The Bank of New York Mellon
Formed
2011
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
Janice K Martin
Phone
4126447800
Supplemental Narrative

Additional Explanations

Form 990 Part XI Line 9

“Minor adjustment to close out net assets.”

Form 990 Part III Line 3

“The Trust terminated as of December 31, 2014.”

Raw XML Appendix395 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/FamilyOrBusinessRlnInd0false
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt030137
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
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IRS990/Form990ProvidedToGvrnBodyInd0true
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IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
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IRS990/GrossReceiptsAmt05983853
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IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
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IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0The Trust terminated as of December 31, 2014. There were no assets remaining in the trust at termination.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule N, Part III
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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 ILLINOIS CENTRAL RAILROAD COMPANY. 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/ExplanationTxt1A complete electronic copy of the organization's Form 990 was provided to the Trustee for review prior to filing with the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THESE 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/ExplanationTxt3AS A 501(C)(9) ORGANIZATION THIS 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 THE ILLINOIS CENTRAL RAILROAD EMPLOYEE BENEFITS 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 BASED UPON FACTORS SUCH AS THE MARKET VALUE OF THE ACCOUNT AND IN ACCORDANCE WITH THE BANK OF NEW YORK MELLON'S AGREEMENT WITH ILLINOIS CENTRAL RAILROAD COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5MINOR ADJUSTMENT TO CLOSE OUT NET ASSETS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The Trust terminated as of December 31, 2014.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 PART VI SECTION A LINE 1A & B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 PART VI SECTION B LINE 11 B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990 PART VI SECTION A & B LINE 8, 12-15
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 III LINE 3
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ReturnHeader/BuildTS02016-04-25 22:37:26Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0BRENT HEINTZELMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VP, THE BNYM, AS TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum04122367175
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Illinois Central Railroad Employee Benefits
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ReturnHeader/Filer/InCareOfNm0% THE BANK OF NEW YORK MELLON
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ERNST & YOUNG US LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02100 ONE PPG PLACE
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JANICE K MARTIN
ReturnHeader/ReturnTs02015-11-14T13:56:04-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

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