Civic Intelligence

R R Donnelley & Sons Company Post-Retirement Medical Benefit Trust #22-0584

990 • Fiscal year 2016 • EIN 36-7007203

Jan 01, 2016 to Dec 31, 2016 • Filed on Mar 22, 2017

PO Box 804358Chicago, IL 60680

(312) 326-7046

Siviq Scores

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

Liabilities / Assets

38th percentile

0.01x

Higher debt load relative to assets than 38% of similar nonprofits.

2016 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2016

Liabilities / Revenue

52nd percentile

0.05x

Higher debt load relative to revenue than 52% of similar nonprofits.

2016 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2016

Net Margin

12th percentile

-30%

Higher net margin than 12% of similar nonprofits.

2016 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2016

Top Officer Pay

45th percentile

$13,666

Higher top officer pay than 45% of similar nonprofits.

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

2016 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2016

Asset Growth

36th percentile

1.4%

Faster asset growth than 36% of similar nonprofits.

2016 filings • 501(c)9 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Revenue Growth

71st percentile

10%

Faster revenue growth than 71% of similar nonprofits.

2016 filings • 501(c)9 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Assets

Up

$209,834,021

Up $2,799,644 (+1.4%) from 2015

Net Assets

Up

$208,286,313

Up $4,046,715 (+2.0%) from 2015

Liabilities

Down

$1,547,708

Down $1,247,071 (-45%) from 2015

Revenue

Up

$29,804,201

Up $2,829,268 (+10%) from 2015

Expenses

Up

$38,789,428

Up $12,203,782 (+46%) from 2015

Net Income

Down

-$8,985,227

Down $9,374,514 (-2408%) from 2015

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2011: $187,241,249Liabilities 2011: $1,509,178Net Assets 2011: $185,732,0712011Assets 2012: $189,405,503Liabilities 2012: $2,092,676Net Assets 2012: $187,312,8272012Assets 2013: $208,100,243Liabilities 2013: $1,303,756Net Assets 2013: $206,796,4872013Assets 2014: $213,589,830Liabilities 2014: $1,446,577Net Assets 2014: $212,143,2532014Assets 2015: $207,034,377Liabilities 2015: $2,794,779Net Assets 2015: $204,239,5982015Assets 2016: $209,834,021Liabilities 2016: $1,547,708Net Assets 2016: $208,286,3132016Assets 2020: $240,129,071Liabilities 2020: $4,352,068Net Assets 2020: $235,777,0032020Assets 2021: $252,728,494Liabilities 2021: $5,087,507Net Assets 2021: $247,640,9872021Assets 2022: $238,683,040Liabilities 2022: $9,819,299Net Assets 2022: $228,863,7412022Assets 2023: $178,627,585Liabilities 2023: $10,086,428Net Assets 2023: $168,541,1572023Assets 2024: $177,789,146Liabilities 2024: $6,999,811Net Assets 2024: $170,789,3352024

Highlighted filing

2016

Assets$209,834,021
Liabilities$1,547,708
Net Assets$208,286,313

Operations Trend

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

$150M$100M$50M$0-$50M-$100MExpenses 2011: $50,717,3582011Expenses 2012: $50,309,7482012Revenue 2013: $37,119,336Expenses 2013: $47,923,429Net Income 2013: -$10,804,0932013Revenue 2014: $38,012,889Expenses 2014: $36,428,699Net Income 2014: $1,584,1902014Revenue 2015: $26,974,933Expenses 2015: $26,585,646Net Income 2015: $389,2872015Revenue 2016: $29,804,201Expenses 2016: $38,789,428Net Income 2016: -$8,985,2272016Revenue 2020: $57,553,312Expenses 2020: $49,523,660Net Income 2020: $8,029,6522020Revenue 2021: $63,920,345Expenses 2021: $51,546,986Net Income 2021: $12,373,3592021Revenue 2022: $22,988,156Expenses 2022: $39,959,682Net Income 2022: -$16,971,5262022Revenue 2023: $57,005,605Expenses 2023: $117,910,857Net Income 2023: -$60,905,2522023Revenue 2024: $21,115,706Expenses 2024: $19,009,058Net Income 2024: $2,106,6482024

Highlighted filing

2016

Revenue$29,804,201
Expenses$38,789,428
Net Income-$8,985,227
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Mar 22, 2017
Return Version
2016v3.1
Gross Receipts
$47,044,755
Mission and Program Overview

Mission

The primary purpose of the trust is to provide medical benefits to eligible retirees of r.r. Donnelley & sons company.

The primary purpose of the trust is to provide medical benefits to eligible retirees of r.r. Donnelley & sons company

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$198,701,036$215,512,313▲ $16,811,277
Cap Stk Tr Prin Current Funds$204,239,598$208,286,313▲ $4,046,715
Accounts Receivable$2,703,507$1,455,967▼ $1,247,540
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Savings and Temporary Cash Investments$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
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
Investments Other Securities$5,629,834$-7,134,259▼ $12,764,093
Total Assets$207,034,377$209,834,021▲ $2,799,644
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$2,794,779$1,547,708▼ $1,247,071
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$2,794,779$1,547,708▼ $1,247,071
Net Assets / Fund Balance
Total Net Assets Fund Balance$204,239,598$208,286,313▲ $4,046,715
Total Liabilities and Net Assets / Fund Balance$207,034,377$209,834,021▲ $2,799,644
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
The Northern Trust CompanyTrusteeFT$13,666$13,666

Board Members and Trustees

NameTitle
Christine MakiCommittee Member
Sheila RuttCommittee Member
Terry PetersonCommittee Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$10,739,446
Investment Income
$4,342,689
Other Revenue
$14,722,066
Change in Net Assets
$-8,985,227

Audited Revenue Reconciliation

Revenue per Audited Statements
$29,804,201
Revenue Not Reported on Form 990
$20,326,078
Total Revenue per Audited Statements
$50,130,279
Total Revenue per Form 990
$29,804,201
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$22,782,114
Salaries, Compensation, and Employee Benefits$13,666
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$15,993,648
Other Expenses---$14,454,800
Current Officers, Directors, Trustees, and Key Employees---$13,666
Total Functional Expenses$0$0$0$38,789,428

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$46,083,564
Expenses per Audited Statements$38,789,428
Total Expenses per Form 990$38,789,428
Expenses Not Reported on Form 990$7,294,136
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, LINE 11B

Returns are prepared by an outside tax preparer and will be reviewed by r.r. Donnelley and sons company's tax managers prior to filing.

Form 990, PART VI, LINE 19

governing documents are made available upon request.

Filing and Contact Details

Filer

Filer Name
Rr Donnelley & Sons Co Post Retirement
EIN
36-7007203
In Care Of
% RR DONNELLEY & SONS COMPAN
Phone
3123267046
Address
PO BOX 804358, CHICAGO, IL 60680

Signing Officer

Name
Sheila Rutt
Title
Chro
Phone
3123267024
Signed
2017-03-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sheila Rutt
Formed
1996
Legal Domicile
Il
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Bdo USA Llp
Address
330 N Wabash Suite 3200, CHICAGO, IL 60611
Preparer
Jacob Cook
Phone
3128569100
Supplemental Narrative

Financial Statement Notes

Part X, Line 2

THE INTERNAL REVENUE SERVICE ("irs") ISSUED A favorable determination DATED NOVEMBER 15, 1993, in which the IRS INDICATED THAT THE PLAN, AS THEN DESIGNED, WAS IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE. THE PLAN HAS BEEN AMENDED SINCE RECEIVING THE DETERMINATION LETTER. HOWEVER, THE PLAN ADMINISTRATOR, HAVING CONSULTED WITH THE PLAN'S LEGAL COUNSEL, BELIEVES THAT THE PLAN REMAINS TAX-EXEMPT AS OF THE FINANCIAL STATEMENT DATE. US GAAP REQUIRES THE PLAN ADMINISTRATOR TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN. THE FINANCIAL STATEMENT EFFECTS OF AN UNCERTAIN TAX POSITION ARE RECOGNIZED WHEN THE POSITION IS MORE LIKELY THAN NOT, BASED ON THE TECHNICAL MERITS, TO BE SUSTAINED UPON EXAMINATION BY TAXING JURISDICTIONS. THE PLAN HAS RECOGNIZED NO TAX, INTEREST OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. THE PLAN COULD BE SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.

Part XI, Line 2D

Retiree medical allowance not funded directly through the trust: 7,294,136.

Part XII, Line 2D

Retiree medical allowance not paid directly through the trust: 7,294,136.

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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/PYGrantsAndSimilarPaidAmt00
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IRS990/PYOtherRevenueAmt04890903
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IRS990/PYTotalExpensesAmt026585646
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IRS990/RentalIncomeOrLossGrp/RealAmt00
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IRS990/ReportOtherLiabilitiesInd0false
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherExpensesIncludedAmt07294136
IRS990ScheduleD/OtherRevenueAmt07294136
IRS990ScheduleD/RevenueNotReportedAmt020326078
IRS990ScheduleD/RevenueSubtotalAmt029804201
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE INTERNAL REVENUE SERVICE ("irs") ISSUED A favorable determination DATED NOVEMBER 15, 1993, in which the IRS INDICATED THAT THE PLAN, AS THEN DESIGNED, WAS IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE. THE PLAN HAS BEEN AMENDED SINCE RECEIVING THE DETERMINATION LETTER. HOWEVER, THE PLAN ADMINISTRATOR, HAVING CONSULTED WITH THE PLAN'S LEGAL COUNSEL, BELIEVES THAT THE PLAN REMAINS TAX-EXEMPT AS OF THE FINANCIAL STATEMENT DATE. US GAAP REQUIRES THE PLAN ADMINISTRATOR TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN. THE FINANCIAL STATEMENT EFFECTS OF AN UNCERTAIN TAX POSITION ARE RECOGNIZED WHEN THE POSITION IS MORE LIKELY THAN NOT, BASED ON THE TECHNICAL MERITS, TO BE SUSTAINED UPON EXAMINATION BY TAXING JURISDICTIONS. THE PLAN HAS RECOGNIZED NO TAX, INTEREST OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. THE PLAN COULD BE SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1RETIREE MEDICAL ALLOWANCE NOT FUNDED DIRECTLY THROUGH THE TRUST: 7,294,136.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2RETIREE MEDICAL ALLOWANCE NOT PAID DIRECTLY THROUGH THE TRUST: 7,294,136.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D
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IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleD/TotalRevenuePerForm990Amt029804201
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt050130279
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RETURNS ARE PREPARED BY AN OUTSIDE TAX PREPARER AND WILL BE REVIEWED BY R.R. DONNELLEY AND SONS COMPANY'S TAX MANAGERS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1governing documents are made available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, PART VI, LINE 19
IRS990ScheduleR/AssetExchangeInd0false
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0361004130
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0c corp
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0IL
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0CONTRIB.ER
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0rr donnelley & sons company
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt035 W WACKER DR
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0chicago
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
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IRS990ScheduleR/SharingOfFacilitiesInd0true
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IRS990ScheduleR/TransferToOtherOrgInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalLiabilitiesEOYAmt01547708
IRS990/TotalLiabilitiesGrp/BOYAmt02794779
IRS990/TotalLiabilitiesGrp/EOYAmt01547708
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt029804201
IRS990/TotalVolunteersCnt00
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0209834021
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IRS990/TravelGrp/TotalAmt00
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt00
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt035 W WACKER DR
IRS990/USAddress/CityNm0chicago
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060611
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SHEILA RUTT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHRO
ReturnHeader/BusinessOfficerGrp/PhoneNum03123267024
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-03-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RR DONNELLEY & SONS CO POST RETIREMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0MEDICAL BENEFIT TRUST #22-05849
ReturnHeader/Filer/BusinessNameControlTxt0RRCO
ReturnHeader/Filer/EIN0367007203
ReturnHeader/Filer/InCareOfNm0% RR DONNELLEY & SONS COMPAN
ReturnHeader/Filer/PhoneNum03123267046
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 804358
ReturnHeader/Filer/USAddress/CityNm0CHICAGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060680
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0EB2B1C02C9534E04F62CB99F1E428011C3823D44
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0929F88F56CC43AAE4561ABB8BCA22E874B78A0F5
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId036189620173195000032
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02017-11-15
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt038.140.192.146
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BDO USA LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0330 N Wabash Suite 3200

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