Civic Intelligence

Transco Master Employee Welfare Benefits

990 • Fiscal year 2020 • EIN 36-7007185

Jan 01, 2020 to Dec 31, 2020 • Filed on Aug 30, 2021

Organization ProfileN/A
c/o BOKFNA-Trust Tax Dept PO Box 16Tulsa, OK 74101

(918) 573-2000

Siviq Scores

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

Liabilities / Assets

34th percentile

0.01x

Higher debt load relative to assets than 34% of similar nonprofits.

2020 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2020

Liabilities / Revenue

65th percentile

0.11x

Higher debt load relative to revenue than 65% of similar nonprofits.

2020 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2020

Net Margin

96th percentile

73%

Higher net margin than 96% of similar nonprofits.

2020 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2020

Top Officer Pay

57th percentile

$42,516

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2020 filings • 501(c)9 • $50M-$100M nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

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

Source year 2020

Revenue Growth

Score unavailable

No value available

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

Source year 2020

Balance Sheet
Liabilities / Assets34th percentile

Assets

$92,917,054

No earlier filing loaded for comparison.

Net Assets

$92,418,769

No earlier filing loaded for comparison.

Liabilities

$498,285

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin96th percentile

Revenue

$4,499,530

No earlier filing loaded for comparison.

Expenses

$1,215,143

No earlier filing loaded for comparison.

Net Income

$3,284,387

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.

$150M$100M$50M$0Assets 2020: $92,917,054Liabilities 2020: $498,285Net Assets 2020: $92,418,7692020Assets 2021: $100,633,257Liabilities 2021: $49,187Net Assets 2021: $100,584,0702021Assets 2022: $90,251,793Liabilities 2022: $3,521,358Net Assets 2022: $86,730,4352022Assets 2023: $89,053,842Liabilities 2023: $2,936Net Assets 2023: $89,050,9062023Assets 2024: $91,488,044Liabilities 2024: $44,137Net Assets 2024: $91,443,9072024

Highlighted filing

2020

Assets$92,917,054
Liabilities$498,285
Net Assets$92,418,769
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$30M$20M$10M$0Revenue 2020: $4,499,530Expenses 2020: $1,215,143Net Income 2020: $3,284,3872020Revenue 2021: $8,613,484Expenses 2021: $2,049,530Net Income 2021: $6,563,9542021Revenue 2022: $20,210,000Expenses 2022: $4,404,922Net Income 2022: $15,805,0782022Revenue 2023: $4,428,545Expenses 2023: $2,108,074Net Income 2023: $2,320,4712023Revenue 2024: $4,599,656Expenses 2024: $2,206,655Net Income 2024: $2,393,0012024

Highlighted filing

2020

Revenue$4,499,530
Expenses$1,215,143
Net Income$3,284,387
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Aug 30, 2021
Return Version
2020v4.0
Gross Receipts
$11,787,574
Mission and Program Overview

Mission

To provide for the payment of medical benefits and life insurance benefits to participants and their dependents

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$83,738,085$92,418,769▲ $8,680,684
Investments in Publicly Traded Securities$82,988,898$92,167,093▲ $9,178,195
Savings and Temporary Cash Investments$603,997$586,170▼ $17,827
Accounts Receivable$127,779$117,023▼ $10,756
Cash and Non-Interest-Bearing Accounts-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$83,788,303$92,917,054▲ $9,128,751
Other Assets Total$67,629$46,768▼ $20,861
Liabilities
Other Liabilities-$424,359-
Accounts Payable and Accrued Expenses$50,218$73,926▲ $23,708
Total Liabilities$50,218$498,285▲ $448,067
Net Assets / Fund Balance
Total Net Assets Fund Balance$83,738,085$92,418,769▲ $8,680,684
Total Liabilities and Net Assets / Fund Balance$83,788,303$92,917,054▲ $9,128,751
Compensation and Service Providers
Top Officer Pay57th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Bokf NaTrusteePT$21,477$21,039$42,516
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,280
Investment Income
$4,497,250
Other Revenue
$0
Change in Net Assets
$3,284,387
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$769,289
Salaries, Compensation, and Employee Benefits$21,477
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$424,377
Fees for Service Investment Mgmnt Fees---$110,205
Current Officers, Directors, Trustees, and Key Employees---$21,477
Other Expenses---$744
Total Functional Expenses$0$0$0$1,215,143
International Activity

International Summary

Spending
$4,950,389

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
EuropeInvestmentsN/a00$3,424,847
East Asia and the PacificInvestmentsN/a00$1,439,608
North AmericaInvestmentsN/a00$85,934
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Liability for securties purchased$58,738
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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, Line 8: Explanation of No Contemporaneously Documentation of Meetings

“There were no meetings held. As stated in Part VI, Section A, Line 1a and 1b, the governing body of the VEBA is the sole trustee, BOKF, N.A.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Employees of The Williams Companies, Inc., the sponsor of the benefit plans for which the VEBA trust provides funds, prepare the Form 990. The return is then provided to employees of the trustee, BOKF, N.A. for their review. The trustee's employees review the form and then sign it for filing. Form 990, Part IV, Section B, Line 12-14: The VEBA does not have a written conflict of interest policy, a written whistleblower policy, or a document retention and destruction policy. The VEBA has no officers, directors, or employees. However, the benefit plan(s) for which the VEBA provides funds are governed by ERISA and these laws have strict requirements as to fiduciary duties and responsibilities. Additionally, The Williams Companies, Inc. (Williams), the sponsor of the plan(s) for which the VEBA trust provides funds, does have a written conflict of interest policy, a policy for internal reporting and non-retaliation policy (whistleblower policy), and a records and information policy for document retention and destruction. These policies are to be followed by all Williams' employees.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Certain governing documents (excluding a conflicts of interest policy) and the financial statements are made available for inspection at One Williams Center, Tulsa, OK and copies are provided upon request to participants and beneficiaries of any plans funded by the VEBA trust.”

Filing and Contact Details

Filer

Filer Name
Transco Master Employee Welfare Benefits
EIN
36-7007185
Phone
9185732000
Address
c/o BOKFNA-Trust Tax Dept PO Box 16, Tulsa, OK 74101

Signing Officer

Name
Sean Leamy
Title
Vice President
Signed
2021-08-30
Discuss with paid preparer
No

Organization Details

Formed
1994
Legal Domicile
Ok
Voting Board Members
1
Independent Board Members
1
Employees
0
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The Transco Master Employee Welfare Benefits Trust is included in the audited financial statements of The Williams Companies, Inc. Retiree Medical Plan (Retiree Medical Plan). The financial statements and audit for the Retiree Medical Plan have not been completed for the related tax year. It is expected that the Retiree Medical Plan will disclose that there are no uncertain tax positions taken or expected to be taken by the Retiree Medical Plan.”

Raw XML Appendix352 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Transco Master Employee Welfare Benefits Trust is included in the audited financial statements of The Williams Companies, Inc. Retiree Medical Plan (Retiree Medical Plan). The financial statements and audit for the Retiree Medical Plan have not been completed for the related tax year. It is expected that the Retiree Medical Plan will disclose that there are no uncertain tax positions taken or expected to be taken by the Retiree Medical Plan.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0There were no meetings held. As stated in Part VI, Section A, Line 1a and 1b, the governing body of the VEBA is the sole trustee, BOKF, N.A.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Employees of The Williams Companies, Inc., the sponsor of the benefit plans for which the VEBA trust provides funds, prepare the Form 990. The return is then provided to employees of the trustee, BOKF, N.A. for their review. The trustee's employees review the form and then sign it for filing. Form 990, Part IV, Section B, Line 12-14: The VEBA does not have a written conflict of interest policy, a written whistleblower policy, or a document retention and destruction policy. The VEBA has no officers, directors, or employees. However, the benefit plan(s) for which the VEBA provides funds are governed by ERISA and these laws have strict requirements as to fiduciary duties and responsibilities. Additionally, The Williams Companies, Inc. (Williams), the sponsor of the plan(s) for which the VEBA trust provides funds, does have a written conflict of interest policy, a policy for internal reporting and non-retaliation policy (whistleblower policy), and a records and information policy for document retention and destruction. These policies are to be followed by all Williams' employees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Certain governing documents (excluding a conflicts of interest policy) and the financial statements are made available for inspection at One Williams Center, Tulsa, OK and copies are provided upon request to participants and beneficiaries of any plans funded by the VEBA trust.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Sean Leamy
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Vice President
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-08-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Transco Master Employee Welfare Benefits
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ReturnHeader/Filer/EIN0367007185
ReturnHeader/Filer/PhoneNum09185732000
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ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$92,917,054
Liabilities
$498,285
Net assets
$92,418,769
Revenue
$4,499,530
Expenses
$1,215,143
Net income
$3,284,387
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$91.5$0.04$91.4$4.60$2.21$2.39
2023Detailed filing. Detailed filing data is available for this year.$89.1$0.00$89.1$4.43$2.11$2.32
2022Detailed filing. Detailed filing data is available for this year.$90.3$3.52$86.7$20.2$4.40$15.8
2021Detailed filing. Detailed filing data is available for this year.$101$0.05$101$8.61$2.05$6.56
2020Detailed filing. Detailed filing data is available for this year.$92.9$0.50$92.4$4.50$1.22$3.28