Civic Intelligence

Lucent Technologies Inc Post Retmt Welfare Benifits Tr for Non Rep Em

990 • Fiscal year 2018 • EIN 33-6325838

Jan 01, 2018 to Dec 31, 2018 • Filed on Jul 22, 2019

C/O Karen Alexander 600 Mountain AvMurray Hill, NJ 07974

(908) 723-9869

Siviq Scores

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

Liabilities / Assets

20th percentile

0.00x

Higher debt load relative to assets than 20% of similar nonprofits.

2018 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2018

Liabilities / Revenue

21st percentile

0.00x

Higher debt load relative to revenue than 21% of similar nonprofits.

2018 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2018

Net Margin

5th percentile

-75%

Higher net margin than 5% of similar nonprofits.

2018 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2018

Top Officer Pay

43rd percentile

$11,500

Higher top officer pay than 43% of similar nonprofits.

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

2018 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2018

Asset Growth

7th percentile

-16%

Faster asset growth than 7% of similar nonprofits.

2018 filings • 501(c)9 • $100M-$250M nonprofits • Annualized from 2016 to 2018

Revenue Growth

8th percentile

-25%

Faster revenue growth than 8% of similar nonprofits.

2018 filings • 501(c)9 • $100M-$250M nonprofits • Annualized from 2016 to 2018

Assets

Down

$173,543,047

Down $70,666,161 (-29%) from 2016

Net Assets

Down

$173,498,694

Down $70,673,969 (-29%) from 2016

Liabilities

Up

$44,353

Up $7,808 (+21%) from 2016

Revenue

Down

$39,674,905

Down $30,549,520 (-44%) from 2016

Expenses

Down

$69,559,937

Down $23,601,679 (-25%) from 2016

Net Income

Down

-$29,885,032

Down $6,947,841 (-30%) from 2016

Historical Trend

Balance Sheet Trend

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

$600M$400M$200M$0Assets 2012: $321,619,444Liabilities 2012: $25,200Net Assets 2012: $321,594,2442012Assets 2013: $321,346,159Liabilities 2013: $112,200Net Assets 2013: $321,233,9592013Assets 2014: $308,052,325Liabilities 2014: $42,300Net Assets 2014: $308,010,0252014Assets 2015: $257,912,100Liabilities 2015: $31,200Net Assets 2015: $257,880,9002015Assets 2016: $244,209,208Liabilities 2016: $36,545Net Assets 2016: $244,172,6632016Assets 2018: $173,543,047Liabilities 2018: $44,353Net Assets 2018: $173,498,6942018Assets 2019: $156,181,386Liabilities 2019: $43,438Net Assets 2019: $156,137,9482019Assets 2020: $196,928,614Liabilities 2020: $38,977Net Assets 2020: $196,889,6372020Assets 2021: $502,442,116Liabilities 2021: $40,827Net Assets 2021: $502,401,2892021Assets 2022: $372,967,567Liabilities 2022: $41,288Net Assets 2022: $372,926,2792022Assets 2023: $396,848,116Liabilities 2023: $65,002Net Assets 2023: $396,783,1142023Assets 2024: $398,238,236Liabilities 2024: $69,335Net Assets 2024: $398,168,9012024

Highlighted filing

2018

Assets$173,543,047
Liabilities$44,353
Net Assets$173,498,694

Operations Trend

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

$400M$300M$200M$100M$0-$100MExpenses 2012: $119,922,6802012Expenses 2013: $115,563,7592013Revenue 2014: $100,141,777Expenses 2014: $115,678,959Net Income 2014: -$15,537,1822014Revenue 2015: $68,843,759Expenses 2015: $104,473,076Net Income 2015: -$35,629,3172015Revenue 2016: $70,224,425Expenses 2016: $93,161,616Net Income 2016: -$22,937,1912016Revenue 2018: $39,674,905Expenses 2018: $69,559,937Net Income 2018: -$29,885,0322018Revenue 2019: $42,680,176Expenses 2019: $76,213,902Net Income 2019: -$33,533,7262019Revenue 2020: $110,254,050Expenses 2020: $75,436,603Net Income 2020: $34,817,4472020Revenue 2021: $362,601,504Expenses 2021: $72,524,105Net Income 2021: $290,077,3992021Revenue 2022: $28,622,401Expenses 2022: $60,476,913Net Income 2022: -$31,854,5122022Revenue 2023: $30,726,696Expenses 2023: $57,604,482Net Income 2023: -$26,877,7862023Revenue 2024: $68,433,217Expenses 2024: $62,234,813Net Income 2024: $6,198,4042024

Highlighted filing

2018

Revenue$39,674,905
Expenses$69,559,937
Net Income-$29,885,032
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jul 22, 2019
Return Version
2018v3.1
Gross Receipts
$149,485,044
Mission and Program Overview

Mission

To provide funding for the payment of post-retirement life insurance benefits and health benefits to eligible retirees of alcatel-lucent usa inc.

To provide funding for the payment of post-retirement life insurance benefits and health benefits to eligible retirees of nokia of america corporation

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$226,596,573$173,498,694▼ $53,097,879
Investments in Publicly Traded Securities$221,236,016$170,703,474▼ $50,532,542
Savings and Temporary Cash Investments$5,389,767$2,830,963▼ $2,558,804
Cash and Non-Interest-Bearing Accounts$0$0→ $0
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
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$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$226,631,938$173,543,047▼ $53,088,891
Other Assets Total$6,155$8,610▲ $2,455
Liabilities
Accounts Payable and Accrued Expenses$35,365$44,353▲ $8,988
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$35,365$44,353▲ $8,988
Net Assets / Fund Balance
Total Net Assets Fund Balance$226,596,573$173,498,694▼ $53,097,879
Total Liabilities and Net Assets / Fund Balance$226,631,938$173,543,047▼ $53,088,891
Compensation and Service Providers

Employees

NameTitleBaseTotal
Bank of New York MellonTrustee$11,500$11,500

Highest Paid Contractors

ContractorServicesLocationCompensation
MetlifeInvestment Mgmt200 PARK AVENUE, New York, NY 10166$266,063
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$24,655,510
Investment Income
$15,019,395
Other Revenue
$0
Change in Net Assets
$-29,885,032
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,535,970
Salaries, Compensation, and Employee Benefits$11,500
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members$68,012,467--$68,012,467
Fees for Services Other-$968,739-$968,739
Fees for Service Investment Mgmnt Fees-$266,063-$266,063
Insurance-$256,168-$256,168
Fees for Services Accounting-$45,000-$45,000
Current Officers, Directors, Trustees, and Key Employees-$11,500-$11,500
Total Functional Expenses$68,012,467$1,547,470$0$69,559,937
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
Backup withholding compliance
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Question 3

Delegation of management arrangement the trust is a voluntary employee benefits association pursuant to irs section 501(c)(9). Nokia of america corporation (part of the nokia group), as settlor, has designated nokia investment management corporation (nimco) a "named fiduciary" with respect to the trust and has retained nimco to perform certain fiduciary services with respect to the trust. Nimco, as named fiduciary, hires and oversees investment managers, the trustee, and other service-providers. Nimco is overseen by the nokia pension & benefit investment committee (pbic), an internal investment committee of the nokia group. -----------

Form 990, Part VI, Section A, Question 7A

Description of classes of persons and the nature of their rights nokia of america corporation as settlor or nokia investment management corporation as named fiduciary of the trust has the power to appoint/terminate the trustee. ------------

Form 990, Part VI, Section A, Question 7B

Decisions requiring approval & type of voting rights the trustee is subject to direction from nokia of america corporation (settlor), nokia investment management corporation (named fiduciary) and appointed investment managers. -----------

Form 990, Part VI, Section A, Questions 8A & 8B

Documentation of meetings held the trust does not hold meetings. However, the pbic meets at least quarterly to review trust investment performance and other activities related to the trust. Meetings are documented in meeting minutes. ------------

Form 990, Part VI, Section A, Question 9

Mailing address of persons not reachable at the organization the institutional trustee cannot be reached at the organization's mailing address. Their mailing address is: bank of new york mellon 135 santilli highway everett, ma 02149 ---------------

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

Process used by management&/or governing body to review the form 990 the form 990 is sent to the trustee for authorization and signature prior to being filed. -------------

Form 990, Part VI, Section B, Lines 12-15

Governance and policies the trust has no employees. Accordingly, there are no such policies in place related to employee compensation. -------------

Form 990, Part VI, Section C, Question 19

Availabilty of documents upon request, the trust agreement is made available to plan participants. ------------

Form 990, Part VII, Section A, Line 1A(1) Col B

Average hours per week of trustee as trustee, the bank of new york mellon provides various administrative services to the trust. These services require the involvement of numerous individual bank employees in the activities of the organization and thus can not easily be quantified on an hourly basis. ------------

Filing and Contact Details

Filer

Filer Name
Lucent Tech Inc Post Retirement Welfare
EIN
33-6325838
In Care Of
% KAREN ALEXANDER
Phone
9087239869
Address
C/O KAREN ALEXANDER 600 MOUNTAIN AV, MURRAY HILL, NJ 07974

Signing Officer

Name
Lisa Candy
Title
VP of Trustee
Signed
2019-07-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bank of New York Mellon
Formed
2002
Legal Domicile
Ny
Voting Board Members
0
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
PricewaterhouseCoopers LLP
Address
1075 Peachtree Street Suite 2600, Atlanta, GA 30309
Preparer
Robert Purser
Phone
6784191000
Raw XML Appendix386 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/ExplanationTxt0DELEGATION OF MANAGEMENT ARRANGEMENT THE TRUST IS A VOLUNTARY EMPLOYEE BENEFITS ASSOCIATION PURSUANT TO IRS SECTION 501(C)(9). NOKIA OF AMERICA CORPORATION (PART OF THE NOKIA GROUP), AS SETTLOR, HAS DESIGNATED NOKIA INVESTMENT MANAGEMENT CORPORATION (NIMCO) A "NAMED FIDUCIARY" WITH RESPECT TO THE TRUST AND HAS RETAINED NIMCO TO PERFORM CERTAIN FIDUCIARY SERVICES WITH RESPECT TO THE TRUST. NIMCO, AS NAMED FIDUCIARY, HIRES AND OVERSEES INVESTMENT MANAGERS, THE TRUSTEE, AND OTHER SERVICE-PROVIDERS. NIMCO IS OVERSEEN BY THE NOKIA PENSION & BENEFIT INVESTMENT COMMITTEE (PBIC), AN INTERNAL INVESTMENT COMMITTEE OF THE NOKIA GROUP. -----------
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DESCRIPTION OF CLASSES OF PERSONS AND THE NATURE OF THEIR RIGHTS NOKIA OF AMERICA CORPORATION AS SETTLOR OR NOKIA INVESTMENT MANAGEMENT CORPORATION AS NAMED FIDUCIARY OF THE TRUST HAS THE POWER TO APPOINT/TERMINATE THE TRUSTEE. ------------
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DECISIONS REQUIRING APPROVAL & TYPE OF VOTING RIGHTS THE TRUSTEE IS SUBJECT TO DIRECTION FROM NOKIA OF AMERICA CORPORATION (SETTLOR), NOKIA INVESTMENT MANAGEMENT CORPORATION (NAMED FIDUCIARY) AND APPOINTED INVESTMENT MANAGERS. -----------
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTATION OF MEETINGS HELD THE TRUST DOES NOT HOLD MEETINGS. HOWEVER, THE PBIC MEETS AT LEAST QUARTERLY TO REVIEW TRUST INVESTMENT PERFORMANCE AND OTHER ACTIVITIES RELATED TO THE TRUST. MEETINGS ARE DOCUMENTED IN MEETING MINUTES. ------------
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MAILING ADDRESS OF PERSONS NOT REACHABLE AT THE ORGANIZATION THE INSTITUTIONAL TRUSTEE CANNOT BE REACHED AT THE ORGANIZATION'S MAILING ADDRESS. THEIR MAILING ADDRESS IS: BANK OF NEW YORK MELLON 135 SANTILLI HIGHWAY EVERETT, MA 02149 ---------------
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PROCESS USED BY MANAGEMENT&/OR GOVERNING BODY TO REVIEW THE FORM 990 THE FORM 990 IS SENT TO THE TRUSTEE FOR AUTHORIZATION AND SIGNATURE PRIOR TO BEING FILED. -------------
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNANCE AND POLICIES THE TRUST HAS NO EMPLOYEES. ACCORDINGLY, THERE ARE NO SUCH POLICIES IN PLACE RELATED TO EMPLOYEE COMPENSATION. -------------
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7AVAILABILTY OF DOCUMENTS UPON REQUEST, THE TRUST AGREEMENT IS MADE AVAILABLE TO PLAN PARTICIPANTS. ------------
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8AVERAGE HOURS PER WEEK OF TRUSTEE AS TRUSTEE, THE BANK OF NEW YORK MELLON PROVIDES VARIOUS ADMINISTRATIVE SERVICES TO THE TRUST. THESE SERVICES REQUIRE THE INVOLVEMENT OF NUMEROUS INDIVIDUAL BANK EMPLOYEES IN THE ACTIVITIES OF THE ORGANIZATION AND THUS CAN NOT EASILY BE QUANTIFIED ON AN HOURLY BASIS. ------------
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, QUESTION 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, QUESTION 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, QUESTION 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, QUESTIONS 8A & 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION A, QUESTION 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, QUESTION 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION B, LINES 12-15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART VI, SECTION C, QUESTION 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART VII, SECTION A, LINE 1A(1) COL B
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0TELECOMMUNICATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0NOKIA OF AMERICA CORPORATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0600 MOUNTAIN AVENUE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0MURRAY HILL
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0NJ
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd007974
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IRS990/TotalFunctionalExpensesGrp/TotalAmt069559937
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt035365
IRS990/TotalLiabilitiesEOYAmt044353
IRS990/TotalLiabilitiesGrp/BOYAmt035365
IRS990/TotalLiabilitiesGrp/EOYAmt044353
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0226596573
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0173498694
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt068012467
IRS990/TotalProgramServiceRevenueAmt024655510
IRS990/TotalReportableCompFromOrgAmt011500
IRS990/TotalRevenueGrp/ExclusionAmt015019395
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt024655510
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt039674905
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0226631938
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0173543047
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IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt00
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0135 SANTILLI HIGHWAY
IRS990/USAddress/CityNm0EVERITT
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002149
IRS990/VotingMembersGoverningBodyCnt00
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LISA CANDY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VP OF TRUSTEE
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-07-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LUCENT TECH INC POST RETIREMENT WELFARE
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0BENEFIT TRUST FOR NONREPRESENTED EMPLOYEES
ReturnHeader/Filer/BusinessNameControlTxt0LUC1
ReturnHeader/Filer/EIN0336325838
ReturnHeader/Filer/InCareOfNm0% KAREN ALEXANDER
ReturnHeader/Filer/PhoneNum09087239869
ReturnHeader/Filer/USAddress/AddressLine1Txt0C/O KAREN ALEXANDER 600 MOUNTAIN AV
ReturnHeader/Filer/USAddress/CityNm0MURRAY HILL
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0B438926688C239B24B9C16049274113075406A10
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId07475D6D5ED88D38BC88C443D0799D953107074C4
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId058367020192035000004
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02019-07-22
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.125.77
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PricewaterhouseCoopers LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01075 Peachtree Street Suite 2600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Atlanta
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd030309
ReturnHeader/PreparerPersonGrp/PhoneNum06784191000
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBERT PURSER
ReturnHeader/ReturnTs02019-07-22T15:11:38-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

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