Civic Intelligence

3M Employees Welfare Benefits

EIN 36-3604792 • 501(c)9 • St Paul, MN

Profile

N/A

3M Center Building 224-5n-40St Paul, MN 55144

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 2018

Liabilities / Revenue

25th percentile

0.00x

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

501(c)9 • $250M-$1B nonprofits • Source year 2018

Net Margin

32nd percentile

-0.6%

Higher net margin than 32% of similar nonprofits.

501(c)9 • $250M-$1B nonprofits • Source year 2018

Top Officer Pay

48th percentile

$15,717

Higher top officer pay than 48% of similar nonprofits.

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

501(c)9 • $250M-$1B nonprofits • Source year 2018

Asset Growth

3rd percentile

-100%

Faster asset growth than 3% of similar nonprofits.

501(c)9 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Revenue Growth

78th percentile

37%

Faster revenue growth than 78% of similar nonprofits.

501(c)9 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $13,747,569 (-100%) from 2017

Liabilities

Down

$0

Down $114,741,539 (-100%) from 2017

Net Assets

Up

$0

Up $100,993,970 (+100%) from 2017

Operations
Liabilities / Revenue25th percentileNet Margin32nd percentile

Revenue

Up

$442,014,144

Up $118,643,317 (+37%) from 2017

Expenses

Up

$444,609,180

Up $32,354,439 (+7.8%) from 2017

Net Income

Up

-$2,595,036

Up $86,288,878 (+97%) from 2017

Trend Graphs

Balance Sheet Trend

Asset Growth3rd percentile

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

$200M$100M$0-$100M-$200MAssets 2010: $68,616,647Liabilities 2010: $109,026,633Net Assets 2010: -$40,409,9862010Assets 2011: $74,740,036Liabilities 2011: $115,450,594Net Assets 2011: -$40,710,5582011Assets 2012: $80,661,903Liabilities 2012: $112,664,194Net Assets 2012: -$32,002,2912012Assets 2013: $86,155,923Liabilities 2013: $107,238,460Net Assets 2013: -$21,082,5372013Assets 2014: $91,766,195Liabilities 2014: $109,123,521Net Assets 2014: -$17,357,3262014Assets 2015: $93,428,766Liabilities 2015: $112,824,512Net Assets 2015: -$19,395,7462015Assets 2016: $102,498,588Liabilities 2016: $114,608,644Net Assets 2016: -$12,110,0562016Assets 2017: $13,747,569Liabilities 2017: $114,741,539Net Assets 2017: -$100,993,9702017Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018

Highlighted filing

2018

Assets$0
Liabilities$0
Net Assets$0
Open 2018 Filing

Operations Trend

Revenue Growth78th percentile

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

$600M$400M$200M$0-$200MExpenses 2010: $340,689,0842010Expenses 2011: $355,098,6812011Expenses 2012: $382,381,2532012Revenue 2013: $396,050,627Expenses 2013: $395,475,538Net Income 2013: $575,0892013Revenue 2014: $375,859,924Expenses 2014: $378,287,383Net Income 2014: -$2,427,4592014Revenue 2015: $410,132,049Expenses 2015: $411,785,241Net Income 2015: -$1,653,1922015Revenue 2016: $445,344,846Expenses 2016: $415,176,973Net Income 2016: $30,167,8732016Revenue 2017: $323,370,827Expenses 2017: $412,254,741Net Income 2017: -$88,883,9142017Revenue 2018: $442,014,144Expenses 2018: $444,609,180Net Income 2018: -$2,595,0362018

Highlighted filing

2018

Revenue$442,014,144
Expenses$444,609,180
Net Income-$2,595,036
Open 2018 Filing

Filings

Most recent year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$442,014,144
Expenses
$444,609,180
Net income
-$2,595,036
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$442$445$2.60
2017Detailed filing. Detailed filing data is available for this year.$13.7$115$101$323$412$88.9
2016Detailed filing. Detailed filing data is available for this year.$102$115$12.1$445$415$30.2
2015Detailed filing. Detailed filing data is available for this year.$93.4$113$19.4$410$412$1.65
2014Detailed filing. Detailed filing data is available for this year.$91.8$109$17.4$376$378$2.43
2013Detailed filing. Detailed filing data is available for this year.$86.2$107$21.1$396$395$0.58
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$80.7$113$32.0$382
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$74.7$115$40.7$355
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$68.6$109$40.4$341
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 13, 2019
Return Version
2018v3.1
Gross Receipts
$442,014,144
Mission and Program Overview

Mission

To finance medical, dental, and long-term disability benefits provided to current 3m employees.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,686,004$0▼ $2,686,004
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Savings and Temporary Cash Investments$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→ $0
Rtn Earn Endowment Incm Other Fnds$-100,993,970$0▲ $100,993,970
Total Assets$13,747,569$0▼ $13,747,569
Other Assets Total$11,061,565$0▼ $11,061,565
Liabilities
Accounts Payable and Accrued Expenses$114,741,539$0▼ $114,741,539
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$114,741,539$0▼ $114,741,539
Net Assets / Fund Balance
Total Net Assets Fund Balance$-100,993,970$0▲ $100,993,970
Total Liabilities and Net Assets / Fund Balance$13,747,569$0▼ $13,747,569
Compensation and Service Providers
Top Officer Pay48th percentile

Employees

NameTitleBaseTotal
The Bank of New York MellonTrustee$15,717$15,717

Board Members and Trustees

NameTitle
Michael A AndersonPresident
Gregg M LarsonDirector
Marlene M McGrathDirector
Matthew J GinterDirector
Kimberly M TorsethAssistant Treasurer
David OverstreetSecretary
Dennis P DuerstTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Blue cross blue shieldPROCESS MED claims3535 BLUE CROSS ROAD, Eagan, MN 55122-1154$6,656,414
Health PartnersProcess Med Claims8170 33RD AVE S M/S 21104A, Bloomington, MN 55425$6,123,126
CaremarkPrcss Med Presc Clms2211 SANDERS ROAD, Northbrook, IL 60062$3,938,870
HewittRecordkeeping Svcs45 SOUTH 7TH ST STE 2100, Minneapolis, MN 55402$1,096,909
Delta DentalProcess Dental Clms3560 DELTA DENTAL DR, Eagan, MN 55122-3166$837,952
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$441,887,585
Investment Income
$126,559
Other Revenue
$0
Change in Net Assets
$-2,595,036

Audited Revenue Reconciliation

Revenue per Audited Statements
$423,070,031
Revenue Not Reported on Financial Statements
$18,944,113
Other Revenue Adjustments
$18,944,113
Total Revenue per Audited Statements
$423,070,031
Total Revenue per Form 990
$442,014,144
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$25,659,578
Salaries, Compensation, and Employee Benefits$15,717
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$418,933,885
Fees for Services Other---$92,114
Current Officers, Directors, Trustees, and Key Employees---$15,717
Other Expenses---$13,410
Fees for Services Accounting---$10,448
Total Functional Expenses$0$0$0$444,609,180

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$444,609,180
Expenses per Audited Statements$428,199,167
Total Expenses per Audited Statements$428,199,167
Expenses Not Reported on Financial Statements$16,410,013
Other Expense Adjustments$16,410,013
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
Audit committee
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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“The return is reviewed by individuals within the 3m company tax department prior to filing.”

Form 990, Part VI, Section C, Line 19

“GOVERNING DOCUMENTATION AND FINANCIAL STATEMENTS ARE NOT LEGALLY REQUIRED TO BE DISCLOSED TO THE PUBLIC AND THEREFORE ARE NOT MADE AVAILABLE. THE TRUST DOES NOT HAVE A CONFLICT OF INTEREST POLICY. FORM 990, PART XI, LINE 9 ASSUMPTION OF ASSETS AND LIABILITIES BY plan sponsor $103,589,006”

Filing and Contact Details

Filer

Filer Name
3m Employees Welfare Benefits Association
EIN
36-3604792
In Care Of
% JED LARKIN
Phone
6517368146
Address
3M CENTER BUILDING 224-5N-40, ST PAUL, MN 55144

Signing Officer

Name
Kimberly Torseth
Title
Asst Treasurer
Phone
6517337377
Signed
2019-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
the bank of new york mellon
Formed
1987
Legal Domicile
Ma
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
7

Preparer

Firm
Ernst & Young US Llp
Address
111 MONUMENT CIR STE 4000, INDIANAPOLIS, IN 46204
Preparer
Benjamin Pitchkites
Phone
3176817000
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

“Trust II was amended in June 2018, to dissolve the Trust assets and continue the operations of the Plan as an unfunded welfare benefit plan where Plan benefits are paid as needed directly from the general assets of the employer. The trust assets were fully liquidated from Trust II on December 31, 2018. FORM 990, PART VI, SECTION A, LINE 8B THE TRUST DOES NOT HAVE ANY COMMITTEES AUTHORIZED TO ACT ON BEHALF OF THE GOVERNING BODY.”

Financial Statement Notes

Part X, Line 2

“TRUST II CONSTITUTES A QUALIFIED VOLUNTARY EMPLOYEE BENEFIT ASSOCIATION UNDER SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE (IRC) AND IS, THEREFORE, CONSIDERED TO BE EXEMPT FROM FEDERAL INCOME TAXES UNDER PROVISIONS OF SECTION 50l(A). TRUST II OBTAINED ITS LATEST DETERMINATION LETTER ON JUNE 13, 1989, IN WHICH THE INTERNAL REVENUE SERVICE (IRS) STATED THAT TRUST II, AS DESIGNED, WAS IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC. TRUST II HAS BEEN AMENDED SINCE RECEIVING THE DETERMINATION LETTER. HOWEVER, THE TRUST II ADMINISTRATOR BELIEVES THAT THE PLAN IS CURRENTLY DESIGNED AND BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE PLAN HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. The The Plan administrator has analyzed the tax positions of the Plan and has concluded that as of December 31, 2017, there is no uncertain position taken or expected to be taken that would require recognition of a liability and disclosure in the financial statements. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. Part XI, Line 4b Contribution Rebates $18,944,113 PART XII, LINE 4B - OTHER ADJUSTMENTS CHANGE IN IBNR YEAR OVER YEAR ($2,534,100) Contribution Rebates $18,944,113”

Raw XML AppendixShowing 400 of 539 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/Form990PartVIISectionAGrp/PersonNm1Marlene M McGrath
IRS990/Form990PartVIISectionAGrp/PersonNm2Matthew J Ginter
IRS990/Form990PartVIISectionAGrp/PersonNm3THE BANK OF NEW YORK MELLON
IRS990/Form990PartVIISectionAGrp/PersonNm4David Overstreet
IRS990/Form990PartVIISectionAGrp/PersonNm5Dennis P Duerst
IRS990/Form990PartVIISectionAGrp/PersonNm6Kimberly M Torseth
IRS990/Form990PartVIISectionAGrp/PersonNm7Michael A Anderson
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TRUST II CONSTITUTES A QUALIFIED VOLUNTARY EMPLOYEE BENEFIT ASSOCIATION UNDER SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE (IRC) AND IS, THEREFORE, CONSIDERED TO BE EXEMPT FROM FEDERAL INCOME TAXES UNDER PROVISIONS OF SECTION 50l(A). TRUST II OBTAINED ITS LATEST DETERMINATION LETTER ON JUNE 13, 1989, IN WHICH THE INTERNAL REVENUE SERVICE (IRS) STATED THAT TRUST II, AS DESIGNED, WAS IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC. TRUST II HAS BEEN AMENDED SINCE RECEIVING THE DETERMINATION LETTER. HOWEVER, THE TRUST II ADMINISTRATOR BELIEVES THAT THE PLAN IS CURRENTLY DESIGNED AND BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE PLAN HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. The The Plan administrator has analyzed the tax positions of the Plan and has concluded that as of December 31, 2017, there is no uncertain position taken or expected to be taken that would require recognition of a liability and disclosure in the financial statements. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. Part XI, Line 4b Contribution Rebates $18,944,113 PART XII, LINE 4B - OTHER ADJUSTMENTS CHANGE IN IBNR YEAR OVER YEAR ($2,534,100) Contribution Rebates $18,944,113
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2
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IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleD/TotalRevenuePerForm990Amt0442014144
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0423070031
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0428199167
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0PLAN ASSETS AND LIABILITIES
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0C CORP
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/PersonNm03M COMPANY
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt03M CENTER Bld 224-5N-40
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0ST PAUL
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0MN
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd055144
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IRS990ScheduleN/ReceiveCompensationInd0false
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Trust II was amended in June 2018, to dissolve the Trust assets and continue the operations of the Plan as an unfunded welfare benefit plan where Plan benefits are paid as needed directly from the general assets of the employer. The trust assets were fully liquidated from Trust II on December 31, 2018. FORM 990, PART VI, SECTION A, LINE 8B THE TRUST DOES NOT HAVE ANY COMMITTEES AUTHORIZED TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE RETURN IS REVIEWED BY INDIVIDUALS WITHIN THE 3M COMPANY TAX DEPARTMENT PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTATION AND FINANCIAL STATEMENTS ARE NOT LEGALLY REQUIRED TO BE DISCLOSED TO THE PUBLIC AND THEREFORE ARE NOT MADE AVAILABLE. THE TRUST DOES NOT HAVE A CONFLICT OF INTEREST POLICY. FORM 990, PART XI, LINE 9 ASSUMPTION OF ASSETS AND LIABILITIES BY plan sponsor $103,589,006
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0MANUFACTURING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt03M COMPANY

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