Civic Intelligence

Wisconsin Public Service Corporation Master Welfare Benefit

990 • Fiscal year 2023 • EIN 39-1567887

Jan 01, 2023 to Dec 31, 2023 • Filed on Apr 09, 2024

Organization ProfileN/A
231 W Michigan StreetMilwaukee, WI 53203

(312) 240-4373

Siviq Scores

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

Liabilities / Assets

25th percentile

0.00x

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

2023 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2023

Liabilities / Revenue

24th percentile

0.00x

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

2023 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2023

Net Margin

96th percentile

67%

Higher net margin than 96% of similar nonprofits.

2023 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2023

Top Officer Pay

38th percentile

$0

Higher top officer pay than 38% of similar nonprofits.

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

2023 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2023

Asset Growth

49th percentile

6.5%

Faster asset growth than 49% of similar nonprofits.

2023 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Revenue Growth

99th percentile

1466%

Faster revenue growth than 99% of similar nonprofits.

2023 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets25th percentile

Assets

Up

$276,293,894

Up $16,832,279 (+6.5%) from 2022

Net Assets

Up

$276,293,894

Up $16,832,279 (+6.5%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue24th percentileNet Margin96th percentile

Revenue

Up

$25,238,725

Up $23,626,938 (+1466%) from 2022

Expenses

Down

$8,406,446

Down $42,536,548 (-83%) from 2022

Net Income

Up

$16,832,279

Up $66,163,486 (+134%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth49th percentile

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

$400M$300M$200M$100M$0Assets 2011: $212,848,661Liabilities 2011: $3,719,753Net Assets 2011: $209,128,9082011Assets 2012: $244,901,085Liabilities 2012: $3,539,251Net Assets 2012: $241,361,8342012Assets 2013: $268,664,549Liabilities 2013: $3,012,262Net Assets 2013: $265,652,2872013Assets 2014: $241,889,213Liabilities 2014: $1,825,879Net Assets 2014: $240,063,3342014Assets 2015: $229,821,456Liabilities 2015: $1,673,596Net Assets 2015: $228,147,8602015Assets 2016: $236,353,830Liabilities 2016: $1,983,834Net Assets 2016: $234,369,9962016Assets 2017: $255,667,906Liabilities 2017: $1,311,111Net Assets 2017: $254,356,7952017Assets 2018: $236,790,125Liabilities 2018: $0Net Assets 2018: $236,790,1252018Assets 2019: $268,262,348Liabilities 2019: $0Net Assets 2019: $268,262,3482019Assets 2020: $293,036,865Liabilities 2020: $0Net Assets 2020: $293,036,8652020Assets 2021: $308,792,822Liabilities 2021: $0Net Assets 2021: $308,792,8222021Assets 2022: $259,461,615Liabilities 2022: $0Net Assets 2022: $259,461,6152022Assets 2023: $276,293,894Liabilities 2023: $0Net Assets 2023: $276,293,8942023Assets 2024: $287,296,579Liabilities 2024: $0Net Assets 2024: $287,296,5792024

Highlighted filing

2023

Assets$276,293,894
Liabilities$0
Net Assets$276,293,894
Open 2023 Filing

Operations Trend

Revenue Growth99th percentile

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

$100M$50M$0-$50MRevenue 2011: $25,154,114Expenses 2011: $25,826,258Net Income 2011: -$672,1442011Revenue 2012: $58,134,323Expenses 2012: $25,901,397Net Income 2012: $32,232,9262012Revenue 2013: $51,468,915Expenses 2013: $27,178,462Net Income 2013: $24,290,4532013Revenue 2014: $24,041,777Expenses 2014: $24,172,937Net Income 2014: -$131,1602014Revenue 2015: $11,509,841Expenses 2015: $23,425,315Net Income 2015: -$11,915,4742015Revenue 2016: $28,923,955Expenses 2016: $22,701,819Net Income 2016: $6,222,1362016Revenue 2017: $41,985,126Expenses 2017: $21,998,327Net Income 2017: $19,986,7992017Revenue 2018: -$9,753,521Expenses 2018: $7,813,149Net Income 2018: -$17,566,6702018Revenue 2019: $39,001,556Expenses 2019: $7,529,334Net Income 2019: $31,472,2222019Revenue 2020: $31,760,127Expenses 2020: $6,985,610Net Income 2020: $24,774,5172020Revenue 2021: $23,503,615Expenses 2021: $7,747,658Net Income 2021: $15,755,9572021Revenue 2022: $1,611,787Expenses 2022: $50,942,994Net Income 2022: -$49,331,2072022Revenue 2023: $25,238,725Expenses 2023: $8,406,446Net Income 2023: $16,832,2792023Revenue 2024: $29,706,247Expenses 2024: $18,703,562Net Income 2024: $11,002,6852024

Highlighted filing

2023

Revenue$25,238,725
Expenses$8,406,446
Net Income$16,832,279
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Apr 9, 2024
Return Version
2023v5.0
Gross Receipts
$166,997,041
Mission and Program Overview

Mission

Receive and hold employee and employer contributions made under the wisconsin public service corporation (wpsc) non-administrative employee health care plan and wpsc life & long-term disability plan to disburse payments and satisfy member claims under the plan.

Trust created to support WPSC Sec 501(c)(9) plans to receive contributions, disburse payments and satisfy member claims under the plans.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$259,461,615$276,293,894▲ $16,832,279
Rtn Earn Endowment Incm Other Fnds$259,461,615$276,293,894▲ $16,832,279
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
Total Assets$259,461,615$276,293,894▲ $16,832,279
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$259,461,615$276,293,894▲ $16,832,279
Total Liabilities and Net Assets / Fund Balance$259,461,615$276,293,894▲ $16,832,279
Compensation and Service Providers
Top Officer Pay38th percentile

Board Members and Trustees

NameTitle
Xia LiuCommittee Chair
Joshua M EricksonCommittee Member
Lisa GeorgeCommittee Member
William J GucCommittee Member
Tony L ReeseCommittee Secretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Northern Trust Company-50 S La Salle St, Chicago, IL 60603-
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$272,099
Investment Income
$5,159,042
Other Revenue
$19,807,584
Change in Net Assets
$16,832,279
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$262,718
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$8,143,728--$8,143,728
Fees for Services Management-$262,718-$262,718
Total Functional Expenses$8,143,728$262,718$0$8,406,446
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
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
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI Section A Line 7A

“Scott Lauber, Chief Executive Officer of WEC Energy Group has the authority to elect and/or appoint one or more members of the Investment Trust Policy Committee. Wisconsin Public Service Corporation, a subsidiary of WEC Energy Group, Inc. is the Plan Sponsor.”

Part VI Section B Line 11B

“A selected member of the investment trust policy committee is appointed to review the return and attest to its accuracy.”

Part VI Section B Line 12C

“The organization's formal Conflict of Interest Policy is monitored and enforced via an established internal review procedure, a description of which is made available upon request.”

Part VI Section C Line 19

“The WPSC Master Welfare Trust makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
WPSC Master Welfare Benefit Trust
EIN
39-1567887
In Care Of
% WISCONSIN PUBLIC SERVICE COR
Phone
3122404373
Address
231 W Michigan Street, Milwaukee, WI 53203

Signing Officer

Name
William Guc
Title
Vice President/Contr
Phone
3122404373
Signed
2024-04-09

Organization Details

Principal Officer
William Guc
Formed
1925
Legal Domicile
Wi
Voting Board Members
5
Independent Board Members
5
Employees
0
Raw XML AppendixShowing 400 of 463 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Scott Lauber, Chief Executive Officer of WEC Energy Group has the authority to elect and/or appoint one or more members of the Investment Trust Policy Committee. Wisconsin Public Service Corporation, a subsidiary of WEC Energy Group, Inc. is the Plan Sponsor.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A SELECTED MEMBER OF THE INVESTMENT TRUST POLICY COMMITTEE IS APPOINTED TO REVIEW THE RETURN AND ATTEST TO ITS ACCURACY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization's formal Conflict of Interest Policy is monitored and enforced via an established internal review procedure, a description of which is made available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The WPSC Master Welfare Trust makes its governing documents and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Part VI Section A Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Part VI Section B Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Part VI Section B Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Part VI Section C Line 19
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C Corp
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt1C Corp
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd1WI
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0Holding Compa
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt1Public Utilit
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0WEC Energy Group Inc
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1Wisconsin Public Service Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0231 W Michigan Street
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt1231 W Michigan Street
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0Milwaukee
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm1Milwaukee
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Wisconsin Public Service Foundation
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1WPS Community Foundation
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2PELLC Life & Health Benefit Bargaining
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3We Energies Foundation Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt4Employees' Mutual Benefit Association
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt5WEC Energy Group Retiree Welfare Trust
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0396075016
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1391852771
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN4396006836
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN5391723191
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt2501(c)(9)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt3501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt4501(c)(8)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt55019(c)(9)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0WI
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1700 North Adams Street
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt2231 W Michigan Street
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt3231 W Michigan Street
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt4231 W Michigan Street
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt5231 W Michigan Street
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Green Bay
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1Green Bay
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm2Milwaukee
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm3Milwaukee
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm5Milwaukee
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IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt08351972
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Actual Expenses
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IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0p
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IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0259461615

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$276,293,894
Liabilities
$0
Net assets
$276,293,894
Revenue
$25,238,725
Expenses
$8,406,446
Net income
$16,832,279
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$287$0.00$287$29.7$18.7$11.0
2023Detailed filing. Detailed filing data is available for this year.$276$0.00$276$25.2$8.41$16.8
2022Detailed filing. Detailed filing data is available for this year.$259$0.00$259$1.61$50.9$49.3
2021Detailed filing. Detailed filing data is available for this year.$309$0.00$309$23.5$7.75$15.8
2020Detailed filing. Detailed filing data is available for this year.$293$0.00$293$31.8$6.99$24.8
2019Summary only. Only limited summary data is available for this year.$268$0.00$268$39.0$7.53$31.5
2018Summary only. Only limited summary data is available for this year.$237$0.00$237$9.75$7.81$17.6
2017Summary only. Only limited summary data is available for this year.$256$1.31$254$42.0$22.0$20.0
2016Summary only. Only limited summary data is available for this year.$236$1.98$234$28.9$22.7$6.22
2015Summary only. Only limited summary data is available for this year.$230$1.67$228$11.5$23.4$11.9
2014Summary only. Only limited summary data is available for this year.$242$1.83$240$24.0$24.2$0.13
2013Summary only. Only limited summary data is available for this year.$269$3.01$266$51.5$27.2$24.3
2012Summary only. Only limited summary data is available for this year.$245$3.54$241$58.1$25.9$32.2
2011Summary only. Only limited summary data is available for this year.$213$3.72$209$25.2$25.8$0.67