Civic Intelligence

Cliffs Mining Hibbing Retirement Ben Trust

EIN 34-1773469 • 501(c)9 • Pittsburgh, PA

Profile

The cliffs mining company hibbing joint venture retiree benefit trust provides health and welfare benefits for cliffs mining hibbing retirees.

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

17th percentile

0.00x

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

501(c)9 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

20th percentile

0.00x

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

501(c)9 • $50M-$100M nonprofits • Source year 2024

Net Margin

5th percentile

-77%

Higher net margin than 5% of similar nonprofits.

501(c)9 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

24th percentile

-1.8%

Faster asset growth than 24% of similar nonprofits.

501(c)9 • $50M-$100M nonprofits • Annualized from 2022 to 2024

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2022 to 2024

Assets

Down

$57,673,839

Down $1,329,613 (-2.3%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Down

$57,673,839

Down $1,329,613 (-2.3%) from 2023

Revenue

Up

$1,735,323

Up $132,222 (+8.2%) from 2023

Expenses

Up

$3,064,936

Up $650,270 (+27%) from 2023

Net Income

Down

-$1,329,613

Down $518,048 (-64%) from 2023

Trend Graphs

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2014: $73,692,200Liabilities 2014: $0Net Assets 2014: $73,692,2002014Assets 2015: $74,254,394Liabilities 2015: $177,294Net Assets 2015: $74,077,1002015Assets 2016: $72,284,087Liabilities 2016: $144,505Net Assets 2016: $72,139,5822016Assets 2017: $69,072,009Liabilities 2017: $131,776Net Assets 2017: $68,940,2332017Assets 2018: $64,887,635Liabilities 2018: $0Net Assets 2018: $64,887,6352018Assets 2019: $66,944,948Liabilities 2019: $0Net Assets 2019: $66,944,9482019Assets 2020: $70,274,503Liabilities 2020: $0Net Assets 2020: $70,274,5032020Assets 2021: $67,462,497Liabilities 2021: $0Net Assets 2021: $67,462,4972021Assets 2022: $59,815,017Liabilities 2022: $0Net Assets 2022: $59,815,0172022Assets 2023: $59,003,452Liabilities 2023: $0Net Assets 2023: $59,003,4522023Assets 2024: $57,673,839Liabilities 2024: $0Net Assets 2024: $57,673,8392024

Highlighted filing

2024

Assets$57,673,839
Liabilities$0
Net Assets$57,673,839

Operations Trend

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

$10M$5.0M$0-$5.0M-$10MRevenue 2014: $4,773,667Expenses 2014: $4,765,312Net Income 2014: $8,3552014Revenue 2015: $5,391,574Expenses 2015: $5,006,674Net Income 2015: $384,9002015Revenue 2016: $2,406,228Expenses 2016: $4,343,746Net Income 2016: -$1,937,5182016Revenue 2017: $5,594,726Expenses 2017: $8,794,075Net Income 2017: -$3,199,3492017Revenue 2018: $2,641,626Expenses 2018: $6,694,224Net Income 2018: -$4,052,5982018Revenue 2019: $8,150,126Expenses 2019: $6,092,813Net Income 2019: $2,057,3132019Revenue 2020: $7,849,299Expenses 2020: $4,519,744Net Income 2020: $3,329,5552020Revenue 2021: $2,631,365Expenses 2021: $5,443,371Net Income 2021: -$2,812,0062021Revenue 2022: -$2,963,987Expenses 2022: $4,683,493Net Income 2022: -$7,647,4802022Revenue 2023: $1,603,101Expenses 2023: $2,414,666Net Income 2023: -$811,5652023Revenue 2024: $1,735,323Expenses 2024: $3,064,936Net Income 2024: -$1,329,6132024

Highlighted filing

2024

Revenue$1,735,323
Expenses$3,064,936
Net Income-$1,329,613

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 24, 2025
Return Version
2024v5.2
Gross Receipts
$11,130,242
Mission and Program Overview

Mission

The cliffs mining company hibbing joint venture retiree benefit trust provides health and welfare benefits for cliffs mining hibbing retirees.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$59,003,452$57,673,839▼ $1,329,613
Investments in Publicly Traded Securities$58,156,527$56,866,960▼ $1,289,567
Investments Other Securities$805,841$805,840▼ $1
Savings and Temporary Cash Investments$41,084$1,039▼ $40,045
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 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$59,003,452$57,673,839▼ $1,329,613
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$59,003,452$57,673,839▼ $1,329,613
Total Liabilities and Net Assets / Fund Balance$59,003,452$57,673,839▼ $1,329,613
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
$1,735,323
Other Revenue
$0
Change in Net Assets
$-1,329,613
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$94,169
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---$2,970,767
Fees for Service Investment Mgmnt Fees---$77,319
Fees for Services Accounting---$16,850
Total Functional Expenses$0$0$0$3,064,936
International Activity

International Summary

Offices
0
Employees
0
Spending
$805,840

International Compliance

Foreign grant records maintained
No
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments-00$805,840
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 35% controlled entity
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 & Part VII

The bank of new york mellon serves as the sole directed trustee of this trust. The plan sponsor is cliffs natural resources, 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

Process for reviewing form 990 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 Cliffs Mining Hibbing Retirement Ben 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 BASED UPON FACTORS SUCH AS THE MARKET VALUE OF THE ACCOUNT AND IN ACCORDANCE WITH THE BANK OF NEW YORK MELLON'S AGREEMENT WITH CLIFFS NATURAL RESOURCES, INC.

Filing and Contact Details

Filer

Filer Name
Cliffs Mining Hibbing Retirement Ben Trust
EIN
34-1773469
In Care Of
% THE BANK OF NEW YORK MELLON
Phone
4122342242
Address
C/O THE BNYM PO BOX 535007, PITTSBURGH, PA 15253-5007

Signing Officer

Name
Shelly Paletta
Title
VP, Bnym, as Trustee
Phone
4122342242
Signed
2025-10-24

Organization Details

Principal Officer
The Bank of New York Mellon
Formed
2000
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
Eileen M Webb
Phone
4126447800
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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 CLIFFS NATURAL RESOURCES, 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/ExplanationTxt2PROCESS FOR REVIEWING FORM 990 A 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 Cliffs Mining Hibbing Retirement Ben 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 BASED UPON FACTORS SUCH AS THE MARKET VALUE OF THE ACCOUNT AND IN ACCORDANCE WITH THE BANK OF NEW YORK MELLON'S AGREEMENT WITH CLIFFS NATURAL RESOURCES, INC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 PART VI SECTION A LINES 1A & B & PART VII
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 PART VI SECTIONS A & B LINES 8, 12-15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990 PART VI Section B Line 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990 PART VI SECTION C LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990 PART VII SECTION A LINE 1A COLUMN (B)
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0341464672
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0OH
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct00.00000
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0MINING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0CLIFFS NATURAL RESOURCES INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfEOYAssetsAmt00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfTotalIncomeAmt00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0200 Public Square Suite 3300
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0Cleveland
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0OH
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd044114
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt059003452
IRS990/TotalAssetsEOYAmt057673839
IRS990/TotalAssetsGrp/BOYAmt059003452
IRS990/TotalAssetsGrp/EOYAmt057673839
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt03064936
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt059003452
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt057673839
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt01735323
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01735323
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt059003452
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt057673839
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
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/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Shelly Paletta
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VP, BNYM, AS TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum04122342242
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-10-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Cliffs Mining Hibbing Retirement Ben Trust
ReturnHeader/Filer/BusinessNameControlTxt0CLIF
ReturnHeader/Filer/EIN0341773469
ReturnHeader/Filer/InCareOfNm0% THE BANK OF NEW YORK MELLON
ReturnHeader/Filer/PhoneNum04122342242
ReturnHeader/Filer/USAddress/AddressLine1Txt0C/O THE BNYM PO BOX 535007
ReturnHeader/Filer/USAddress/CityNm0PITTSBURGH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd0152535007
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
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/PreparerPersonNm0Eileen M Webb
ReturnHeader/ReturnTs02025-10-24T15:02:28-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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