Civic Intelligence

3 M Employees Welfare Benefits Association Trust I

990 • Fiscal year 2017 • EIN 41-1294448

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 14, 2018

Organization ProfileN/A
3M Center Building 224-5n-40St Paul, MN 55144

(651) 736-8146

Siviq Scores

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

Liabilities / Assets

68th percentile

0.13x

Higher debt load relative to assets than 68% of similar nonprofits.

2017 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2017

Liabilities / Revenue

97th percentile

1.07x

Higher debt load relative to revenue than 97% of similar nonprofits.

2017 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2017

Net Margin

9th percentile

-28%

Higher net margin than 9% of similar nonprofits.

2017 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2017

Top Officer Pay

46th percentile

$71,022

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

2017 filings • 501(c)9 • $250M-$1B nonprofits • Source year 2017

Asset Growth

12th percentile

-0.8%

Faster asset growth than 12% of similar nonprofits.

2017 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2016 to 2017

Revenue Growth

45th percentile

5.6%

Faster revenue growth than 45% of similar nonprofits.

2017 filings • 501(c)9 • $250M-$1B nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets68th percentile

Assets

Down

$764,877,566

Down $6,271,586 (-0.8%) from 2016

Net Assets

Down

$669,082,329

Down $7,247,559 (-1.1%) from 2016

Liabilities

Up

$95,795,237

Up $975,973 (+1.0%) from 2016

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin9th percentile

Revenue

Up

$89,440,611

Up $4,746,630 (+5.6%) from 2016

Expenses

Up

$114,180,021

Up $2,084,868 (+1.9%) from 2016

Net Income

Up

-$24,739,410

Up $2,661,762 (+9.7%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth12th percentile

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

$1.0B$500M$0Assets 2010: $814,859,247Liabilities 2010: $92,247,213Net Assets 2010: $722,612,0342010Assets 2011: $852,956,195Liabilities 2011: $116,167,318Net Assets 2011: $736,788,8772011Assets 2012: $890,489,137Liabilities 2012: $97,822,745Net Assets 2012: $792,666,3922012Assets 2013: $911,134,362Liabilities 2013: $95,776,389Net Assets 2013: $815,357,9732013Assets 2014: $900,299,035Liabilities 2014: $110,613,091Net Assets 2014: $789,685,9442014Assets 2015: $806,345,897Liabilities 2015: $94,779,411Net Assets 2015: $711,566,4862015Assets 2016: $771,149,152Liabilities 2016: $94,819,264Net Assets 2016: $676,329,8882016Assets 2017: $764,877,566Liabilities 2017: $95,795,237Net Assets 2017: $669,082,3292017Assets 2018: $631,878,701Liabilities 2018: $71,710,598Net Assets 2018: $560,168,1032018Assets 2019: $615,214,452Liabilities 2019: $73,660,350Net Assets 2019: $541,554,1022019Assets 2020: $554,502,419Liabilities 2020: $68,790,261Net Assets 2020: $485,712,1582020Assets 2021: $455,636,953Liabilities 2021: $39,133,023Net Assets 2021: $416,503,9302021Assets 2022: $284,178,091Liabilities 2022: $27,695,683Net Assets 2022: $256,482,4082022Assets 2023: $173,301,287Liabilities 2023: $14,035,645Net Assets 2023: $159,265,6422023Assets 2024: $81,557,494Liabilities 2024: $5,108,584Net Assets 2024: $76,448,9102024

Highlighted filing

2017

Assets$764,877,566
Liabilities$95,795,237
Net Assets$669,082,329
Open 2017 Filing

Operations Trend

Revenue Growth45th percentile

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

$200M$100M$0-$100MExpenses 2010: $181,438,3952010Expenses 2011: $150,458,1462011Expenses 2012: $158,317,3962012Revenue 2013: $94,346,353Expenses 2013: $162,630,256Net Income 2013: -$68,283,9032013Revenue 2014: $99,153,221Expenses 2014: $153,543,907Net Income 2014: -$54,390,6862014Revenue 2015: $98,514,928Expenses 2015: $106,006,689Net Income 2015: -$7,491,7612015Revenue 2016: $84,693,981Expenses 2016: $112,095,153Net Income 2016: -$27,401,1722016Revenue 2017: $89,440,611Expenses 2017: $114,180,021Net Income 2017: -$24,739,4102017Revenue 2018: $104,957,083Expenses 2018: $99,154,641Net Income 2018: $5,802,4422018Revenue 2019: $92,816,378Expenses 2019: $122,980,799Net Income 2019: -$30,164,4212019Revenue 2020: $73,481,839Expenses 2020: $117,718,745Net Income 2020: -$44,236,9062020Revenue 2021: $103,855,863Expenses 2021: $121,975,397Net Income 2021: -$18,119,5342021Revenue 2022: $29,921,658Expenses 2022: $97,473,329Net Income 2022: -$67,551,6712022Revenue 2023: $94,432,621Expenses 2023: $127,129,039Net Income 2023: -$32,696,4182023Revenue 2024: $51,480,490Expenses 2024: $101,843,723Net Income 2024: -$50,363,2332024

Highlighted filing

2017

Revenue$89,440,611
Expenses$114,180,021
Net Income-$24,739,410
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 14, 2018
Return Version
2017v2.3
Gross Receipts
$89,440,611
Mission and Program Overview

Mission

N/A

Finance health care benefits provided to retired 3m employees.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$676,329,888$669,082,329▼ $7,247,559
Investments in Publicly Traded Securities$547,341,164$530,134,468▼ $17,206,696
Investments Other Securities$216,563,359$223,590,159▲ $7,026,800
Savings and Temporary Cash Investments$2,014$121,481▲ $119,467
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 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$771,149,152$764,877,566▼ $6,271,586
Other Assets Total$7,242,615$11,031,458▲ $3,788,843
Liabilities
Other Liabilities$91,269,286$89,731,297▼ $1,537,989
Accounts Payable and Accrued Expenses$3,549,978$6,063,940▲ $2,513,962
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$94,819,264$95,795,237▲ $975,973
Net Assets / Fund Balance
Total Net Assets Fund Balance$676,329,888$669,082,329▼ $7,247,559
Total Liabilities and Net Assets / Fund Balance$771,149,152$764,877,566▼ $6,271,586

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$175,545,004--
Compensation and Service Providers
Top Officer Pay46th percentile

Employees

NameTitleBaseTotal
The Bank of New York MellonTrustee$71,022$71,022

Board Members and Trustees

NameTitle
Michael a AndersonPresident
Gregg M LarsonDirector
Marlene M McgrathDirector
Matthew J GinterDirector
Kimberly M TorsethAssistant Treasurer
David J OverstreetSecretary
Dennis P DuerstTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
HewittRecordkeeping Svcs45 SOUTH 7TH STREET SUITE 2100, Minneapolis, MN 55402$1,296,273
Northern TrustInvestment Manager50 SOUTH LASALLE STREET, Chicago, IL 60603$689,574
Alight SolutionsRecord Keeping Fees4 Overlook Point Side B, Lincolnshire, IL 60069$136,262
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$154,879
Investment Income
$89,256,535
Other Revenue
$29,197
Change in Net Assets
$-24,739,410
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$23,409,828
Salaries, Compensation, and Employee Benefits$71,022
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$90,699,171
Fees for Services Other---$1,414,384
Fees for Service Investment Mgmnt Fees---$921,966
Fees for Services Accounting---$108,857
Current Officers, Directors, Trustees, and Key Employees---$71,022
Other Expenses---$9,428
Total Functional Expenses$0$0$0$114,180,021
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
Ubit Payable$69,895,767
Obligation for Collateral$19,036,667
Current Tax Payable$798,863
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“The trust does not have any committees authorized to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11

“The return is reviewed by individuals within the 3m company tax department prior to filing.”

Form 990, Part VI, Section C, Line 19

“Governing documentation and financial statements are not legally required to be disclosed to the public and therefore are not made available. The trust does not have a conflict of interest policy.”

Filing and Contact Details

Filer

Filer Name
3m Employees Welfare Benefits Association
EIN
41-1294448
In Care Of
% JED LARKIN
Phone
6517368146
Address
3M CENTER BUILDING 224-5N-40, ST PAUL, MN 55144

Signing Officer

Name
Kimberly M Torseth
Title
Asst. Treasurer
Phone
6517337377
Signed
2018-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Janice K Angell
Formed
1976
Legal Domicile
Ma
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
7

Preparer

Firm
Ernst & Young US Llp
Address
111 MONUMNET CIR STE 4000, INDIANAPOLIS, IN 46204
Preparer
Benjamin Pitchkites
Phone
3176817000
Supplemental Narrative

Financial Statement Notes

Part X, Line 2

“The component of trust i not subject to collective bargaining agreements constitutes a qualified voluntary employee benefit association under section 501(c)(9) of the internal revenue code (irc) and is, therefore, considered to be exempt from federal income taxes under provisions of section 501(a), except for any unrelated business income. Such unrelated business income essentially consists of investment income and is subject to unrelated business income taxes based upon the character of the income taxed (capital versus ordinary). The plan files unrelated business income tax (ubit) returns in the u.s. Federal jurisdiction. Accounting principles generally accepted in the united states of america require plan management to evaluate tax positions taken by the plan and recognize a tax liability (or asset) if the plan has taken an uncertain position that more likely than not would not be sustained upon examination by the irs. The plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.”

Raw XML AppendixShowing 400 of 519 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/InvestmentIncomeGrp/TotalRevenueColumnAmt018852638
IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt08352528
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt0216563359
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0223590159
IRS990/InvestmentsProgramRelatedGrp/BOYAmt00
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt0547341164
IRS990/InvestmentsPubTradedSecGrp/EOYAmt0530134468
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipBasisNetGrp/BOYAmt00
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LegalDomicileStateCd0MA
IRS990/LoanOutstandingInd0false
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt00
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0FINANCE HEALTH CARE BENEFITS PROVIDED TO RETIRED 3M EMPLOYEES.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt00
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt00
IRS990/NetAssetsOrFundBalancesBOYAmt0676329888
IRS990/NetAssetsOrFundBalancesEOYAmt0669082329
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-5472883
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt070403897
IRS990/NetGainOrLossInvestmentsGrp/UnrelatedBusinessRevenueAmt075876780
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt084120602
IRS990/NetUnrlzdGainsLossesInvstAmt017491851
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt07242615
IRS990/OtherAssetsTotalGrp/EOYAmt011031458
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0UBI TAXES
IRS990/OtherExpensesGrp/Desc1SERVICE FEES
IRS990/OtherExpensesGrp/Desc2OTHER FEES
IRS990/OtherExpensesGrp/Desc3ADMINISTRATION FEES
IRS990/OtherExpensesGrp/TotalAmt020788160
IRS990/OtherExpensesGrp/TotalAmt1135718
IRS990/OtherExpensesGrp/TotalAmt231315
IRS990/OtherExpensesGrp/TotalAmt39428
IRS990/OtherLiabilitiesGrp/BOYAmt091269286
IRS990/OtherLiabilitiesGrp/EOYAmt089731297
IRS990/OtherRevenueMiscGrp/BusinessCd0900001
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0PARTNERSHIP INCOME
IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/ExclusionAmt075274
IRS990/OtherRevenueMiscGrp/ExclusionAmt123592
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt05605
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt123592
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt0-69669
IRS990/OtherRevenueTotalAmt029197
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0JANICE K ANGELL
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0525100
IRS990/ProgramServiceRevenueGrp/BusinessCd1525100
IRS990/ProgramServiceRevenueGrp/Desc0EMPLOYEE CONTRIBUTIONS
IRS990/ProgramServiceRevenueGrp/Desc1CONTRIBUTIONS REBATE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt073206
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt181673
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt073206
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt181673
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt088917078
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt080247386
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt023104024
IRS990/PYOtherRevenueAmt0811890
IRS990/PYProgramServiceRevenueAmt03634705
IRS990/PYRevenuesLessExpensesAmt0-27401172
IRS990/PYSalariesCompEmpBnftPaidAmt074051
IRS990/PYTotalExpensesAmt0112095153
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt084693981
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-24739410
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt00
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0676329888
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0669082329
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02014
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0121481
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt019036667
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt169895767
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2798863
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OBLIGATION FOR COLLATERAL
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1UBIT PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CURRENT TAX PAYABLE
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt029008435
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt119036667
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt253
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt3175545004
IRS990ScheduleD/OtherSecuritiesGrp/Desc0PARTNERSHIP/JOINT VENTURE
IRS990ScheduleD/OtherSecuritiesGrp/Desc1POOLED SEPARATE ACCOUNT
IRS990ScheduleD/OtherSecuritiesGrp/Desc2103-12 INVESTMENT
IRS990ScheduleD/OtherSecuritiesGrp/Desc3OTHER INVESTMENTS
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd3F
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COMPONENT OF TRUST I NOT SUBJECT TO COLLECTIVE BARGAINING AGREEMENTS CONSTITUTES A QUALIFIED VOLUNTARY EMPLOYEE BENEFIT ASSOCIATION UNDER SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE (IRC) AND IS, THEREFORE, CONSIDERED TO BE EXEMPT FROM FEDERAL INCOME TAXES UNDER PROVISIONS OF SECTION 501(A), EXCEPT FOR ANY UNRELATED BUSINESS INCOME. SUCH UNRELATED BUSINESS INCOME ESSENTIALLY CONSISTS OF INVESTMENT INCOME AND IS SUBJECT TO UNRELATED BUSINESS INCOME TAXES BASED UPON THE CHARACTER OF THE INCOME TAXED (CAPITAL VERSUS ORDINARY). THE PLAN FILES UNRELATED BUSINESS INCOME TAX (UBIT) RETURNS IN THE U.S. FEDERAL JURISDICTION. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE PLAN HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2
IRS990ScheduleD/TotalBookValueSecuritiesAmt0223590159
IRS990ScheduleD/TotalLiabilityAmt089731297
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TRUST DOES NOT HAVE ANY COMMITTEES AUTHORIZED TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE RETURN IS REVIEWED BY INDIVIDUALS WITHIN THE 3M COMPANY TAX DEPARTMENT PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTATION AND FINANCIAL STATEMENTS ARE NOT LEGALLY REQUIRED TO BE DISCLOSED TO THE PUBLIC AND THEREFORE ARE NOT MADE AVAILABLE. THE TRUST DOES NOT HAVE A CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0410417775
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0c corp
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0MA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0MANUFACTURING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt03M COMPANY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt03M CENTER BUILDING 224-5N-40
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0ST PAUL
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0MN
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd055144
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd1false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd2false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt1NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt2NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt03M EES WELFARE BEN ASSOC TRUST II
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt13M EES WELFARE BEN ASSOC TRUST III
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt23M EES WELFARE BEN ASSOC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0363604792
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1411746690
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN2411414203
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(9)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)(9)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt2501(C)(9)

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$764,877,566
Liabilities
$95,795,237
Net assets
$669,082,329
Revenue
$89,440,611
Expenses
$114,180,021
Net income
-$24,739,410
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$81.6$5.11$76.4$51.5$102$50.4
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$173$14.0$159$94.4$127$32.7
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$284$27.7$256$29.9$97.5$67.6
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$456$39.1$417$104$122$18.1
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$555$68.8$486$73.5$118$44.2
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$615$73.7$542$92.8$123$30.2
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$632$71.7$560$105$99.2$5.80
2017Detailed filing. Detailed filing data is available for this year.$765$95.8$669$89.4$114$24.7
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$771$94.8$676$84.7$112$27.4
2015Detailed filing. Detailed filing data is available for this year.$806$94.8$712$98.5$106$7.49
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$900$111$790$99.2$154$54.4
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$911$95.8$815$94.3$163$68.3
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$890$97.8$793$158
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$853$116$737$150
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$815$92.2$723$181