Civic Intelligence

Solutia Retiree Welfare Tr 98 K079 00 6

990 • Fiscal year 2016 • EIN 39-2056615

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 13, 2017

Organization ProfileN/A
200 S Wilcox DrKingsport, TN 37660

(423) 224-0104

Siviq Scores

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

Liabilities / Assets

27th percentile

0.00x

Higher debt load relative to assets than 27% of similar nonprofits.

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

Liabilities / Revenue

40th percentile

0.02x

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

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

Net Margin

8th percentile

-71%

Higher net margin than 8% of similar nonprofits.

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

Top Officer Pay

32nd percentile

$0

Higher top officer pay than 32% 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

16th percentile

-4.5%

Faster asset growth than 16% of similar nonprofits.

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

Revenue Growth

16th percentile

-8.2%

Faster revenue growth than 16% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets27th percentile

Assets

Down

$115,126,932

Down $5,382,508 (-4.5%) from 2015

Net Assets

Down

$114,934,093

Down $5,575,347 (-4.6%) from 2015

Liabilities

Up

$192,839

Up $192,839 from 2015

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin8th percentile

Revenue

Down

$9,659,824

Down $857,548 (-8.2%) from 2015

Expenses

Down

$16,542,800

Down $2,119,653 (-11%) from 2015

Net Income

Up

-$6,882,976

Up $1,262,105 (+15%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

$200M$150M$100M$50M$0Assets 2011: $159,287,192Liabilities 2011: $0Net Assets 2011: $159,287,1922011Assets 2012: $156,993,734Liabilities 2012: $0Net Assets 2012: $156,993,7342012Assets 2013: $136,114,323Liabilities 2013: $0Net Assets 2013: $136,114,3232013Assets 2014: $134,193,566Liabilities 2014: $0Net Assets 2014: $134,193,5662014Assets 2015: $120,509,440Liabilities 2015: $0Net Assets 2015: $120,509,4402015Assets 2016: $115,126,932Liabilities 2016: $192,839Net Assets 2016: $114,934,0932016Assets 2017: $115,103,455Liabilities 2017: $9,070Net Assets 2017: $115,094,3852017Assets 2018: $107,951,609Liabilities 2018: $1,463,688Net Assets 2018: $106,487,9212018Assets 2019: $111,970,006Liabilities 2019: $94,796Net Assets 2019: $111,875,2102019Assets 2020: $116,242,046Liabilities 2020: $1,025,059Net Assets 2020: $115,216,9872020Assets 2021: $108,627,625Liabilities 2021: $1,239,033Net Assets 2021: $107,388,5922021Assets 2022: $88,859,895Liabilities 2022: $314,719Net Assets 2022: $88,545,1762022Assets 2023: $89,472,496Liabilities 2023: $95,190Net Assets 2023: $89,377,3062023Assets 2024: $87,377,501Liabilities 2024: $89,469Net Assets 2024: $87,288,0322024

Highlighted filing

2016

Assets$115,126,932
Liabilities$192,839
Net Assets$114,934,093
Open 2016 Filing

Operations Trend

Revenue Growth16th percentile

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

$30M$20M$10M$0-$10M-$20MRevenue 2011: $7,605,701Expenses 2011: $20,771,369Net Income 2011: -$13,165,6682011Expenses 2012: $20,716,3862012Revenue 2013: $4,561,292Expenses 2013: $16,779,508Net Income 2013: -$12,218,2162013Revenue 2014: $5,292,286Expenses 2014: $13,385,294Net Income 2014: -$8,093,0082014Revenue 2015: $10,517,372Expenses 2015: $18,662,453Net Income 2015: -$8,145,0812015Revenue 2016: $9,659,824Expenses 2016: $16,542,800Net Income 2016: -$6,882,9762016Revenue 2017: $7,834,461Expenses 2017: $9,389,841Net Income 2017: -$1,555,3802017Revenue 2018: $6,667,451Expenses 2018: $10,142,223Net Income 2018: -$3,474,7722018Revenue 2019: $6,070,067Expenses 2019: $9,004,722Net Income 2019: -$2,934,6552019Revenue 2020: $5,920,241Expenses 2020: $7,520,848Net Income 2020: -$1,600,6072020Revenue 2021: $6,338,046Expenses 2021: $7,938,924Net Income 2021: -$1,600,8782021Revenue 2022: $3,472,948Expenses 2022: $6,796,231Net Income 2022: -$3,323,2832022Revenue 2023: $2,208,356Expenses 2023: $6,252,248Net Income 2023: -$4,043,8922023Revenue 2024: $3,472,252Expenses 2024: $5,147,006Net Income 2024: -$1,674,7542024

Highlighted filing

2016

Revenue$9,659,824
Expenses$16,542,800
Net Income-$6,882,976
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 13, 2017
Return Version
2016v3.0
Gross Receipts
$29,650,065
Mission and Program Overview

Mission

To provide welfare benefits to retirees.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$120,509,440$114,934,093▼ $5,575,347
Investments in Publicly Traded Securities$118,908,561$111,163,209▼ $7,745,352
Accounts Receivable$1,276,110$2,325,578▲ $1,049,468
Savings and Temporary Cash Investments$0$1,638,145▲ $1,638,145
Cash and Non-Interest-Bearing Accounts$324,769$0▼ $324,769
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$120,509,440$115,126,932▼ $5,382,508
Liabilities
Accounts Payable and Accrued Expenses$0$192,839▲ $192,839
Total Liabilities$0$192,839▲ $192,839
Net Assets / Fund Balance
Total Net Assets Fund Balance$120,509,440$114,934,093▼ $5,575,347
Total Liabilities and Net Assets / Fund Balance$120,509,440$115,126,932▼ $5,382,508
Compensation and Service Providers
Top Officer Pay32nd percentile

Board Members and Trustees

NameTitle
-Trustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,161,938
Investment Income
$3,497,886
Other Revenue
$0
Change in Net Assets
$-6,882,976

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,659,824
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$2,609,123
Total Revenue per Audited Statements
$12,268,947
Total Revenue per Form 990
$9,659,824
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,695,437
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---$14,847,363
Other Expenses---$1,552,831
Fees for Service Investment Mgmnt Fees---$142,606
Total Functional Expenses$0$0$0$16,542,800

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$16,542,800
Total Expenses per Audited Statements$16,542,800
Total Expenses per Form 990$16,542,800
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 6

“The Organization has members or stockholders.”

Form 990, Part VI, Section A, line 7A

“The oranization has members, stockholders, or other persons who may elect one or more members of the governing body.”

Form 990, Part VI, Section A, line 7B

“Decisions of the governing body are subject to approval by members, stockholders, or other persons. Solutia Retiree Welfare Trust is administered by one human resources benefit manager. All changes to this plan must be approved by the voting members of the governing body.”

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

“The completed Form 990 is provided to voting members, prior to filing with the Internal Revenue Service.”

Form 990, Part VI, Section B, line 12C

“Solutia, Inc. ("Solutia") is a wholly-owned subsidiary of Eastman Chemical Company ("Eastman"). All employees of Eastman including the voting members of the benefits planning committee are required to complete compliance and other risk based training classes on an annual basis. Employees' participation and test results are monitored by Solutia for reportable events (e.g. conflict of interest) and are reviewed by senior management of Solutia. There are no restrictions at this time which prohibit the governing body in policy discussions and decisions.”

Form 990, Part VI, Section C, line 19

“No documentation available to the public.”

Filing and Contact Details

Filer

Filer Name
Solutia Inc
EIN
39-2056615
Phone
4232240104
Address
200 S Wilcox Dr, Kingsport, TN 37660
Doing Business As
Solutia Retiree Welfare Trust

Signing Officer

Name
Jason Podvin
Title
Director, Global Benefits
Phone
4232240104
Signed
2017-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Podvin
Formed
2007
Legal Domicile
Mo
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
3

Preparer

Firm
Mitchell & Titus LLP
Address
One Battery Park Plaza, New York, NY 10004
Preparer
Frederick E Davis Jr
Phone
2127094500
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“Transfer to Solutia Inc. MEdical Plan for Retirees. -1,301,495.”

Financial Statement Notes

Part X, Line 2:

“The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2016, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax period in progress.”

Raw XML Appendix307 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.

Path#Value
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IRS990/BenefitsToMembersGrp/TotalAmt014847363
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0THE NORTHERN TRUST COMPANY
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IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt050 SOUTH LASALLE STREET
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IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt019632631
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IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt0118908561
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IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt019990241
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2016, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax period in progress.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Organization has members or stockholders.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The oranization has members, stockholders, or other persons who may elect one or more members of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Decisions of the governing body are subject to approval by members, stockholders, or other persons. Solutia Retiree Welfare Trust is administered by one human resources benefit manager. All changes to this plan must be approved by the voting members of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The completed Form 990 is provided to voting members, prior to filing with the Internal Revenue Service.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Solutia, Inc. ("Solutia") is a wholly-owned subsidiary of Eastman Chemical Company ("Eastman"). All employees of Eastman including the voting members of the benefits planning committee are required to complete compliance and other risk based training classes on an annual basis. Employees' participation and test results are monitored by Solutia for reportable events (e.g. conflict of interest) and are reviewed by senior management of Solutia. There are no restrictions at this time which prohibit the governing body in policy discussions and decisions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5No documentation available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Transfer to Solutia Inc. MEdical Plan for Retirees. -1,301,495.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XI, line 9:
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0GLOBAL MANUFACTURER & marketer of high-performance chemical-based materials.
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0Eastman Chemical Company
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0100 N Eastman Road
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IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt0192839
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0192839
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0120509440
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0114934093
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt016542800
IRS990/TotalProgramServiceRevenueAmt06161938
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt09659824
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt09659824
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0120509440
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0115126932
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0200 S Wilcox Dr
IRS990/USAddress/CityNm0Kingsport
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd037660
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Jason Podvin
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director, Global Benefits
ReturnHeader/BusinessOfficerGrp/PhoneNum04232240104
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOLUTIA INC
ReturnHeader/Filer/BusinessNameControlTxt0SOLU
ReturnHeader/Filer/EIN0392056615
ReturnHeader/Filer/PhoneNum04232240104
ReturnHeader/Filer/USAddress/AddressLine1Txt0200 S Wilcox Dr
ReturnHeader/Filer/USAddress/CityNm0Kingsport
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd037660
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId050B1289A4FFA0A981C7CEE1BC54D203163138DE2
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0144.121.106.186
ReturnHeader/FilingSecurityInformation/IPDt02017-11-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm016:04:59
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0132781641
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Mitchell & Titus LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0One Battery Park Plaza
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0New York
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010004
ReturnHeader/PreparerPersonGrp/PhoneNum02127094500
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Frederick E Davis Jr
ReturnHeader/ReturnTs02017-11-13T16:05:13-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$115,126,932
Liabilities
$192,839
Net assets
$114,934,093
Revenue
$9,659,824
Expenses
$16,542,800
Net income
-$6,882,976
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$87.4$0.09$87.3$3.47$5.15$1.67
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$89.5$0.10$89.4$2.21$6.25$4.04
2022Detailed filing. Detailed filing data is available for this year.$88.9$0.31$88.5$3.47$6.80$3.32
2021Detailed filing. Detailed filing data is available for this year.$109$1.24$107$6.34$7.94$1.60
2020Detailed filing. Detailed filing data is available for this year.$116$1.03$115$5.92$7.52$1.60
2019Detailed filing. Detailed filing data is available for this year.$112$0.09$112$6.07$9.00$2.93
2018Detailed filing. Detailed filing data is available for this year.$108$1.46$106$6.67$10.1$3.47
2017Detailed filing. Detailed filing data is available for this year.$115$0.01$115$7.83$9.39$1.56
2016Detailed filing. Detailed filing data is available for this year.$115$0.19$115$9.66$16.5$6.88
2015Detailed filing. Detailed filing data is available for this year.$121$0.00$121$10.5$18.7$8.15
2014Detailed filing. Detailed filing data is available for this year.$134$0.00$134$5.29$13.4$8.09
2013Detailed filing. Detailed filing data is available for this year.$136$0.00$136$4.56$16.8$12.2
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$157$0.00$157$20.7
2011Summary only. Only limited summary data is available for this year.$159$0.00$159$7.61$20.8$13.2