Civic Intelligence

General Dynamics Adv Tech Inc Postretirement Life Ins Benefits Trust

990 • Fiscal year 2020 • EIN 36-7237990

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 25, 2021

Organization ProfileN/A
C/O Northern Trust 50 S Lasalle StChicago, IL 60603

(703) 876-3000

Siviq Scores

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

Liabilities / Assets

25th percentile

0.00x

Higher debt load relative to assets than 25% of similar nonprofits.

2020 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

40th percentile

0.02x

Higher debt load relative to revenue than 40% of similar nonprofits.

2020 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2020

Net Margin

80th percentile

26%

Higher net margin than 80% of similar nonprofits.

2020 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

54th percentile

$16,570

Higher top officer pay than 54% of similar nonprofits.

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

2020 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2020

Asset Growth

56th percentile

9.5%

Faster asset growth than 56% of similar nonprofits.

2020 filings • 501(c)9 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

90th percentile

26%

Faster revenue growth than 90% of similar nonprofits.

2020 filings • 501(c)9 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets25th percentile

Assets

Up

$27,529,780

Up $2,398,505 (+9.5%) from 2019

Net Assets

Up

$27,501,769

Up $2,399,485 (+9.6%) from 2019

Liabilities

Down

$28,011

Down $980 (-3.4%) from 2019

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin80th percentile

Revenue

Up

$1,761,004

Up $365,523 (+26%) from 2019

Expenses

Up

$1,309,115

Up $288,345 (+28%) from 2019

Net Income

Up

$451,889

Up $77,178 (+21%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth56th percentile

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

$40M$30M$20M$10M$0Assets 2010: $4,276,349Liabilities 2010: $0Net Assets 2010: $4,276,3492010Assets 2011: $4,521,012Liabilities 2011: $0Net Assets 2011: $4,521,0122011Assets 2012: $5,119,539Liabilities 2012: $0Net Assets 2012: $5,119,5392012Assets 2013: $6,700,294Liabilities 2013: $0Net Assets 2013: $6,700,2942013Assets 2014: $7,521,224Liabilities 2014: $11,937Net Assets 2014: $7,509,2872014Assets 2015: $7,311,326Liabilities 2015: $134,550Net Assets 2015: $7,176,7762015Assets 2016: $7,381,278Liabilities 2016: $10,303Net Assets 2016: $7,370,9752016Assets 2017: $8,392,799Liabilities 2017: $8,891Net Assets 2017: $8,383,9082017Assets 2019: $25,131,275Liabilities 2019: $28,991Net Assets 2019: $25,102,2842019Assets 2020: $27,529,780Liabilities 2020: $28,011Net Assets 2020: $27,501,7692020Assets 2021: $31,791,339Liabilities 2021: $28,787Net Assets 2021: $31,762,5522021Assets 2022: $24,665,896Liabilities 2022: $0Net Assets 2022: $24,665,8962022Assets 2023: $28,106,767Liabilities 2023: $99,666Net Assets 2023: $28,007,1012023Assets 2024: $32,729,994Liabilities 2024: $346,332Net Assets 2024: $32,383,6622024

Highlighted filing

2020

Assets$27,529,780
Liabilities$28,011
Net Assets$27,501,769
Open 2020 Filing

Operations Trend

Revenue Growth90th percentile

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $219,1742010Expenses 2011: $221,0932011Expenses 2012: $207,2762012Revenue 2013: $473,514Expenses 2013: $256,566Net Income 2013: $216,9482013Revenue 2014: $519,115Expenses 2014: $293,462Net Income 2014: $225,6532014Revenue 2015: $703,804Expenses 2015: $451,581Net Income 2015: $252,2232015Revenue 2016: $338,241Expenses 2016: $488,282Net Income 2016: -$150,0412016Revenue 2017: $419,272Expenses 2017: $354,878Net Income 2017: $64,3942017Revenue 2019: $1,395,481Expenses 2019: $1,020,770Net Income 2019: $374,7112019Revenue 2020: $1,761,004Expenses 2020: $1,309,115Net Income 2020: $451,8892020Revenue 2021: $3,071,788Expenses 2021: $1,363,199Net Income 2021: $1,708,5892021Revenue 2022: $10,648,416Expenses 2022: $2,752,648Net Income 2022: $7,895,7682022Revenue 2023: $751,472Expenses 2023: $689,921Net Income 2023: $61,5512023Revenue 2024: $3,373,511Expenses 2024: $705,745Net Income 2024: $2,667,7662024

Highlighted filing

2020

Revenue$1,761,004
Expenses$1,309,115
Net Income$451,889
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 25, 2021
Return Version
2020v4.1
Gross Receipts
$5,639,503
Mission and Program Overview

Mission

Health & welfare benefits.

Health & welfare benefits

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$25,102,284$27,501,769▲ $2,399,485
Investments in Publicly Traded Securities$23,956,622$26,270,128▲ $2,313,506
Savings and Temporary Cash Investments$1,059,554$1,132,978▲ $73,424
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
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
Total Assets$25,131,275$27,529,780▲ $2,398,505
Other Assets Total$115,099$126,674▲ $11,575
Liabilities
Other Liabilities$28,991$28,011▼ $980
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
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$28,991$28,011▼ $980
Net Assets / Fund Balance
Total Net Assets Fund Balance$25,102,284$27,501,769▲ $2,399,485
Total Liabilities and Net Assets / Fund Balance$25,131,275$27,529,780▲ $2,398,505
Compensation and Service Providers
Top Officer Pay54th percentile

Employees

NameTitleBaseTotal
The Northern Trust CompanyTrustee$16,570$16,570
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,660
Investment Income
$1,758,344
Other Revenue
$0
Change in Net Assets
$451,889
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,292,545
Salaries, Compensation, and Employee Benefits$16,570
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting---$78,306
Fees for Service Investment Mgmnt Fees---$17,301
Current Officers, Directors, Trustees, and Key Employees---$16,570
Fees for Services Other---$2,625
Other Expenses---$51
All Other Expenses---$38
Total Functional Expenses$0$0$0$1,309,115
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Pending Trades$28,011
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
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, Line 8

“Meetings held and actions undertaken by governing body northern trust company is the institutional trustee of this voluntary employees' beneficiary association under irc 501(c)(9) formed to fund certain welfare benefits of current and former employees of general dynamics. There are no meetings of the governing body or committees to document.”

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

“Review of form 990 an accounting firm prepares forms 990 from data provided by trustee northern trust company. The returns are reviewed by human capital processes group at general dynamics. The returns are sent to the trustee before filing for signature. Form 990, part vi, section b, line, 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, Line 19

“Documents 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 1, col b average hours per week devoted to position as trustee, northern trust provides administrative services such as acting as investment manager for 'the general dynamics is&t postretirement life insurance benefits trust'. These services require numerous individual bank employees' involvement in the activities of the organization and thus cannot be quantified on an hourly basis, but are calculated based upon factors such as the market value of the account and in accordance with the northern trust's agreement with 'general dynamics'.”

Filing and Contact Details

Filer

Filer Name
The General Dynamics Is&t Postretirement
EIN
36-7237990
In Care Of
% NORTHERN TRUST CO
Phone
7038763000
Address
C/O NORTHERN TRUST 50 S LASALLE ST, CHICAGO, IL 60603

Signing Officer

Name
Elizabeth Nehf
Title
Sr. Vice President
Phone
3125572840
Signed
2021-10-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Randall Miller
Formed
1997
Legal Domicile
Wi
Voting Board Members
1
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Ernst & Young US Llp
Address
155 N WACKER DRIVE, CHICAGO, IL 60606
Preparer
Morgan Eads
Phone
3128792000
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 1

“Method of accounting modified cash”

Raw XML Appendix372 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/GainOrLossGrp/OtherAmt01733
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IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0269428
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IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt0334079
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IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEETINGS HELD AND ACTIONS UNDERTAKEN BY GOVERNING BODY NORTHERN TRUST COMPANY IS THE INSTITUTIONAL TRUSTEE OF THIS VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION UNDER IRC 501(C)(9) FORMED TO FUND CERTAIN WELFARE BENEFITS OF CURRENT AND FORMER EMPLOYEES OF GENERAL DYNAMICS. THERE ARE NO MEETINGS OF THE GOVERNING BODY OR COMMITTEES TO DOCUMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REVIEW OF FORM 990 AN ACCOUNTING FIRM PREPARES FORMS 990 FROM DATA PROVIDED BY TRUSTEE NORTHERN TRUST COMPANY. THE RETURNS ARE REVIEWED BY HUMAN CAPITAL PROCESSES GROUP AT GENERAL DYNAMICS. THE RETURNS ARE SENT TO THE TRUSTEE BEFORE FILING FOR SIGNATURE. FORM 990, PART VI, SECTION B, LINE, 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS 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 1, COL B AVERAGE HOURS PER WEEK DEVOTED TO POSITION AS TRUSTEE, NORTHERN TRUST PROVIDES ADMINISTRATIVE SERVICES SUCH AS ACTING AS INVESTMENT MANAGER FOR 'THE GENERAL DYNAMICS IS&T POSTRETIREMENT LIFE INSURANCE BENEFITS TRUST'. THESE SERVICES REQUIRE NUMEROUS INDIVIDUAL BANK EMPLOYEES' INVOLVEMENT IN THE ACTIVITIES OF THE ORGANIZATION AND THUS CANNOT BE QUANTIFIED ON AN HOURLY BASIS, BUT ARE CALCULATED BASED UPON FACTORS SUCH AS THE MARKET VALUE OF THE ACCOUNT AND IN ACCORDANCE WITH THE NORTHERN TRUST'S AGREEMENT WITH 'GENERAL DYNAMICS'.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3METHOD OF ACCOUNTING MODIFIED CASH
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 1
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0ELIZABETH NEHF
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SR. VICE PRESIDENT
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ReturnHeader/ReturnTs02021-10-26T14:24:33-05:00
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ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$27,529,780
Liabilities
$28,011
Net assets
$27,501,769
Revenue
$1,761,004
Expenses
$1,309,115
Net income
$451,889
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$32.7$0.35$32.4$3.37$0.71$2.67
2023Detailed filing. Detailed filing data is available for this year.$28.1$0.10$28.0$0.75$0.69$0.06
2022Detailed filing. Detailed filing data is available for this year.$24.7$0.00$24.7$10.6$2.75$7.90
2021Detailed filing. Detailed filing data is available for this year.$31.8$0.03$31.8$3.07$1.36$1.71
2020Detailed filing. Detailed filing data is available for this year.$27.5$0.03$27.5$1.76$1.31$0.45
2019Detailed filing. Detailed filing data is available for this year.$25.1$0.03$25.1$1.40$1.02$0.37
2017Detailed filing. Detailed filing data is available for this year.$8.39$0.01$8.38$0.42$0.35$0.06
2016Detailed filing. Detailed filing data is available for this year.$7.38$0.01$7.37$0.34$0.49$0.15
2015Detailed filing. Detailed filing data is available for this year.$7.31$0.13$7.18$0.70$0.45$0.25
2014Detailed filing. Detailed filing data is available for this year.$7.52$0.01$7.51$0.52$0.29$0.23
2013Detailed filing. Detailed filing data is available for this year.$6.70$0.00$6.70$0.47$0.26$0.22
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.12$0.00$5.12$0.21
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.52$0.00$4.52$0.22
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.28$0.00$4.28$0.22