Civic Intelligence

Johnson Controls Union Retiree Medical Trust

990 • Fiscal year 2023 • EIN 45-6420054

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 13, 2024

Organization ProfileN/A
5757 N Green Bay Ave Mail Stopx-Glendale, WI 53209

(414) 524-1200

Siviq Scores

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

Liabilities / Assets

40th percentile

0.01x

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

2023 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

87th percentile

0.41x

Higher debt load relative to revenue than 87% of similar nonprofits.

2023 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2023

Net Margin

1st percentile

-391%

Higher net margin than 1% of similar nonprofits.

2023 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

33rd percentile

$0

Higher top officer pay than 33% of similar nonprofits.

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

2023 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2023

Asset Growth

44th percentile

6.0%

Faster asset growth than 44% of similar nonprofits.

2023 filings • 501(c)9 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Revenue Growth

14th percentile

-7.8%

Faster revenue growth than 14% of similar nonprofits.

2023 filings • 501(c)9 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$149,786,768

Up $8,427,303 (+6.0%) from 2022

Net Assets

Up

$148,740,330

Up $11,907,607 (+8.7%) from 2022

Liabilities

Down

$1,046,438

Down $3,480,304 (-77%) from 2022

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin1st percentile

Revenue

Down

$2,559,418

Down $216,385 (-7.8%) from 2022

Expenses

Down

$12,579,200

Down $1,333,369 (-9.6%) from 2022

Net Income

Up

-$10,019,782

Up $1,116,984 (+10%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth44th percentile

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

$300M$200M$100M$0Assets 2012: $144,686,011Liabilities 2012: $644,308Net Assets 2012: $144,041,7032012Assets 2013: $145,421,319Liabilities 2013: $833,412Net Assets 2013: $144,587,9072013Assets 2014: $214,925,221Liabilities 2014: $1,555,651Net Assets 2014: $213,369,5702014Assets 2015: $190,682,820Liabilities 2015: $2,233,972Net Assets 2015: $188,448,8482015Assets 2016: $176,864,801Liabilities 2016: $1,538,551Net Assets 2016: $175,326,2502016Assets 2017: $184,653,681Liabilities 2017: $2,344,395Net Assets 2017: $182,309,2862017Assets 2018: $159,550,796Liabilities 2018: $1,223,817Net Assets 2018: $158,326,9792018Assets 2019: $167,230,260Liabilities 2019: $4,209,421Net Assets 2019: $163,020,8392019Assets 2020: $165,245,895Liabilities 2020: $2,348,871Net Assets 2020: $162,897,0242020Assets 2021: $174,046,177Liabilities 2021: $3,297,872Net Assets 2021: $170,748,3052021Assets 2022: $141,359,465Liabilities 2022: $4,526,742Net Assets 2022: $136,832,7232022Assets 2023: $149,786,768Liabilities 2023: $1,046,438Net Assets 2023: $148,740,3302023Assets 2024: $160,855,134Liabilities 2024: $1,239,387Net Assets 2024: $159,615,7472024

Highlighted filing

2023

Assets$149,786,768
Liabilities$1,046,438
Net Assets$148,740,330
Open 2023 Filing

Operations Trend

Revenue Growth14th percentile

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

$100M$50M$0-$50MRevenue 2012: $16,165,566Expenses 2012: $12,202,243Net Income 2012: $3,963,3232012Revenue 2013: $11,141,800Expenses 2013: $10,595,596Net Income 2013: $546,2042013Revenue 2014: $81,219,386Expenses 2014: $12,437,723Net Income 2014: $68,781,6632014Revenue 2015: -$1,479,899Expenses 2015: $23,440,840Net Income 2015: -$24,920,7392015Revenue 2016: $7,762,986Expenses 2016: $20,885,584Net Income 2016: -$13,122,5982016Revenue 2017: $4,884,282Expenses 2017: $19,689,850Net Income 2017: -$14,805,5682017Revenue 2018: $7,405,436Expenses 2018: $22,570,576Net Income 2018: -$15,165,1402018Revenue 2019: $5,548,142Expenses 2019: $21,008,059Net Income 2019: -$15,459,9172019Revenue 2020: $3,908,121Expenses 2020: $16,924,520Net Income 2020: -$13,016,3992020Revenue 2021: $3,298,684Expenses 2021: $12,808,861Net Income 2021: -$9,510,1772021Revenue 2022: $2,775,803Expenses 2022: $13,912,569Net Income 2022: -$11,136,7662022Revenue 2023: $2,559,418Expenses 2023: $12,579,200Net Income 2023: -$10,019,7822023Revenue 2024: $2,025,962Expenses 2024: $9,551,095Net Income 2024: -$7,525,1332024

Highlighted filing

2023

Revenue$2,559,418
Expenses$12,579,200
Net Income-$10,019,782
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 13, 2024
Return Version
2023v5.1
Gross Receipts
$2,559,418
Mission and Program Overview

Mission

To provide medical benefits under designated benefits program to eligible union retirees of Johnson Controls International Plc. and certain affiliated companies.

To provide medical, health & life insurance benefits under designated benefits programs to eligible union & non-union retired employees of johnson controls, inc. And certain affiliated companies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$139,223,364$149,057,939▲ $9,834,575
Cap Stk Tr Prin Current Funds$136,832,723$148,740,330▲ $11,907,607
Accounts Receivable$2,136,101$728,829▼ $1,407,272
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$141,359,465$149,786,768▲ $8,427,303
Liabilities
Other Liabilities$3,981,572$748,721▼ $3,232,851
Accounts Payable and Accrued Expenses$545,170$297,717▼ $247,453
Total Liabilities$4,526,742$1,046,438▼ $3,480,304
Net Assets / Fund Balance
Total Net Assets Fund Balance$136,832,723$148,740,330▲ $11,907,607
Total Liabilities and Net Assets / Fund Balance$141,359,465$149,786,768▲ $8,427,303
Compensation and Service Providers
Top Officer Pay33rd percentile

Board Members and Trustees

NameTitle
Marc VandiepenbeeckChief Financial Officer
Marlon J SullivanChief Human Resources Officer
Pieter LensTreasurer
Jody YaegerVP Global Total Rewards
Kathy MladaVP Hr Benefits & Global Payroll
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,395,611
Investment Income
$163,807
Other Revenue
$0
Change in Net Assets
$-10,019,782

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,559,418
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$21,927,389
Total Revenue per Audited Statements
$24,486,807
Total Revenue per Form 990
$2,559,418
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$130,744
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---$12,448,456
Other Expenses---$130,744
Total Functional Expenses$0$0$0$12,579,200

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$12,579,200
Total Expenses per Audited Statements$12,579,200
Total Expenses per Form 990$12,579,200
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Benefits Payments$748,721
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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
No
Management duties delegated
No

Governance Explanations

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

“The trustee of the organization is designated by the employee benefits policy committee.”

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

“The form 990 is reviewed by the lead analyst, external reporting who reports to the trustees of the trust. The form 990 is also reviewed by the director global tax accounting, who ensures all tax filings of the organization, before it is filed.”

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

“The ethics policy of the sponsor requires individuals to make immediate disclosure to the audit committee on issues relating to conflicts of interest. Employees must avoid any relationship or activity that could affect their independent judgement in the conduct of johnson controls' interests. In assessing whether a situation poses a conflict of interest, employees should examine whether their interest or activity could influence, or could give the appearance of influencing, their decisions on behalf of the company. All employees must provide written notice to the company of an actual or potential conflict of interest.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policy and financial statements are made available to the public upon request and on the sponsors' website www.johnsoncontrols.com.”

Filing and Contact Details

Filer

Filer Name
Johnson Controls Inc Retiree Welfare
EIN
45-6420054
Phone
4145241200
Address
5757 N GREEN BAY AVE MAIL STOPX-, GLENDALE, WI 53209

Signing Officer

Name
Patty Bakke
Title
Director Global Tax Accounting
Phone
4145241200
Signed
2024-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathy Mlada
Formed
2011
Legal Domicile
Wi
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Wipfli Llp
Address
170 N RADNOR-CHESTER RD SUITE 200, RADNOR, PA 19087
Preparer
Solomon Mardakhaev
Phone
6105653930
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The company established the johnson controls, inc. Retiree welfare trust (the trust) for the purpose of accumulating and distributing contributions made in accordance with the plan. The trust is qualified pursuant to section 501(c)(9) of the internal revenue code; therefore, the trust's net investment income, to the extent the trust is deficient in net assets compared to the plan's obligations, are treated as exempt from income taxes. U.s. Gaap requires plan management to evaluate tax positions taken by the plan and recognize a tax liability if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the irs or department of labor. The plan administrator has analyzed the tax positions taken by the plan, and has concluded that as of december 31, 2023 and 2022, there are no uncertain positions taken or expected to be taken that would require recognition of a liability 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 periods in progress.”

Raw XML Appendix317 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/Form990PartVIISectionAGrp/TitleTxt3VP GLOBAL TOTAL REWARDS
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COMPANY ESTABLISHED THE JOHNSON CONTROLS, INC. RETIREE WELFARE TRUST (THE TRUST) FOR THE PURPOSE OF ACCUMULATING AND DISTRIBUTING CONTRIBUTIONS MADE IN ACCORDANCE WITH THE PLAN. THE TRUST IS QUALIFIED PURSUANT TO SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE; THEREFORE, THE TRUST'S NET INVESTMENT INCOME, TO THE EXTENT THE TRUST IS DEFICIENT IN NET ASSETS COMPARED TO THE PLAN'S OBLIGATIONS, ARE TREATED AS EXEMPT FROM INCOME TAXES. U.S. GAAP REQUIRES PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR DEPARTMENT OF LABOR. THE PLAN ADMINISTRATOR HAS ANALYZED THE TAX POSITIONS TAKEN BY THE PLAN, AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2023 AND 2022, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY 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 PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TRUSTEE OF THE ORGANIZATION IS DESIGNATED BY THE EMPLOYEE BENEFITS POLICY COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY THE LEAD ANALYST, EXTERNAL REPORTING WHO REPORTS TO THE TRUSTEES OF THE TRUST. THE FORM 990 IS ALSO REVIEWED BY THE DIRECTOR GLOBAL TAX ACCOUNTING, WHO ENSURES ALL TAX FILINGS OF THE ORGANIZATION, BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ETHICS POLICY OF THE SPONSOR REQUIRES INDIVIDUALS TO MAKE IMMEDIATE DISCLOSURE TO THE AUDIT COMMITTEE ON ISSUES RELATING TO CONFLICTS OF INTEREST. EMPLOYEES MUST AVOID ANY RELATIONSHIP OR ACTIVITY THAT COULD AFFECT THEIR INDEPENDENT JUDGEMENT IN THE CONDUCT OF JOHNSON CONTROLS' INTERESTS. IN ASSESSING WHETHER A SITUATION POSES A CONFLICT OF INTEREST, EMPLOYEES SHOULD EXAMINE WHETHER THEIR INTEREST OR ACTIVITY COULD INFLUENCE, OR COULD GIVE THE APPEARANCE OF INFLUENCING, THEIR DECISIONS ON BEHALF OF THE COMPANY. ALL EMPLOYEES MUST PROVIDE WRITTEN NOTICE TO THE COMPANY OF AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AND ON THE SPONSORS' WEBSITE WWW.JOHNSONCONTROLS.COM.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt05757 N GREEN BAY AVE MAIL STOP X-81
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
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IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/EOYAmt0149786768
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IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt012579200
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IRS990/TotalLiabilitiesEOYAmt01046438
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IRS990/TotalProgramServiceRevenueAmt02395611
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IRS990/USAddress/ZIPCd053209
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0PATTY BAKKE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR GLOBAL TAX ACCOUNTING
ReturnHeader/BusinessOfficerGrp/PhoneNum04145241200
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-13
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ReturnHeader/Filer/BusinessNameControlTxt0JOHN
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0390758449
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0170 N RADNOR-CHESTER RD SUITE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RADNOR
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd019087
ReturnHeader/PreparerPersonGrp/PhoneNum06105653930
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SOLOMON MARDAKHAEV
ReturnHeader/ReturnTs02024-11-14T15:53:18-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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
$149,786,768
Liabilities
$1,046,438
Net assets
$148,740,330
Revenue
$2,559,418
Expenses
$12,579,200
Net income
-$10,019,782
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$161$1.24$160$2.03$9.55$7.53
2023Detailed filing. Detailed filing data is available for this year.$150$1.05$149$2.56$12.6$10.0
2022Detailed filing. Detailed filing data is available for this year.$141$4.53$137$2.78$13.9$11.1
2021Detailed filing. Detailed filing data is available for this year.$174$3.30$171$3.30$12.8$9.51
2020Detailed filing. Detailed filing data is available for this year.$165$2.35$163$3.91$16.9$13.0
2019Detailed filing. Detailed filing data is available for this year.$167$4.21$163$5.55$21.0$15.5
2018Detailed filing. Detailed filing data is available for this year.$160$1.22$158$7.41$22.6$15.2
2017Summary only. Only limited summary data is available for this year.$185$2.34$182$4.88$19.7$14.8
2016Detailed filing. Detailed filing data is available for this year.$177$1.54$175$7.76$20.9$13.1
2015Detailed filing. Detailed filing data is available for this year.$191$2.23$188$1.48$23.4$24.9
2014Detailed filing. Detailed filing data is available for this year.$215$1.56$213$81.2$12.4$68.8
2013Detailed filing. Detailed filing data is available for this year.$145$0.83$145$11.1$10.6$0.55
2012Summary only. Only limited summary data is available for this year.$145$0.64$144$16.2$12.2$3.96