Civic Intelligence

Nn Retirees Benefit Trust

990 • Fiscal year 2015 • EIN 46-6653802

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 14, 2016

PO Box 292877Nashville, TN 37229

(615) 678-3138

Siviq Scores

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

Liabilities / Assets

34th percentile

0.01x

Higher debt load relative to assets than 34% of similar nonprofits.

2015 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

91st percentile

0.59x

Higher debt load relative to revenue than 91% of similar nonprofits.

2015 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2015

Net Margin

1st percentile

-1484%

Higher net margin than 1% of similar nonprofits.

2015 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

52nd percentile

$6,000

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2015 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2015

Asset Growth

5th percentile

-17%

Faster asset growth than 5% of similar nonprofits.

2015 filings • 501(c)9 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

90th percentile

25%

Faster revenue growth than 90% of similar nonprofits.

2015 filings • 501(c)9 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Assets

Down

$42,312,554

Down $8,718,134 (-17%) from 2014

Net Assets

Down

$41,959,798

Down $8,796,034 (-17%) from 2014

Liabilities

Up

$352,756

Up $77,900 (+28%) from 2014

Revenue

Up

$594,335

Up $117,179 (+25%) from 2014

Expenses

Down

$9,415,731

Down $1,386,752 (-13%) from 2014

Net Income

Up

-$8,821,396

Up $1,503,931 (+15%) from 2014

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2013: $61,289,464Liabilities 2013: $233,993Net Assets 2013: $61,055,4712013Assets 2014: $51,030,688Liabilities 2014: $274,856Net Assets 2014: $50,755,8322014Assets 2015: $42,312,554Liabilities 2015: $352,756Net Assets 2015: $41,959,7982015Assets 2016: $35,121,714Liabilities 2016: $262,777Net Assets 2016: $34,858,9372016Assets 2017: $1,850,183Liabilities 2017: $1,019,280Net Assets 2017: $830,9032017Assets 2018: $1,609,292Liabilities 2018: $1,369,890Net Assets 2018: $239,4022018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2015

Assets$42,312,554
Liabilities$352,756
Net Assets$41,959,798

Operations Trend

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

$100M$50M$0-$50MRevenue 2013: $66,353,473Expenses 2013: $5,202,817Net Income 2013: $61,150,6562013Revenue 2014: $477,156Expenses 2014: $10,802,483Net Income 2014: -$10,325,3272014Revenue 2015: $594,335Expenses 2015: $9,415,731Net Income 2015: -$8,821,3962015Revenue 2016: $53,024Expenses 2016: $7,688,509Net Income 2016: -$7,635,4852016Revenue 2017: $196,864Expenses 2017: $34,731,148Net Income 2017: -$34,534,2842017Revenue 2018: $26,698Expenses 2018: $618,199Net Income 2018: -$591,5012018Revenue 2019: $21,826Expenses 2019: $261,228Net Income 2019: -$239,4022019

Highlighted filing

2015

Revenue$594,335
Expenses$9,415,731
Net Income-$8,821,396
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 14, 2016
Return Version
2015v2.1
Gross Receipts
$10,612,931
Mission and Program Overview

Mission

Until september 1, 2017, the trust sponsored and maintained a health reimbursement arrangement (hra) plan which was intended to meet the requirements of irs notice 2002-45 and which provided for the reimbursement of eligible medical expenses for participants of the hra plan in accordance with the plan documents. The plan terminated in 2017 and no plan was in place in 2018, nor 2019.

The trust (veba) provides reimbursement of eligible medical expenses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$50,755,832$41,959,798▼ $8,796,034
Investments in Publicly Traded Securities$49,240,719$38,694,480▼ $10,546,239
Savings and Temporary Cash Investments$1,317,972$3,258,617▲ $1,940,645
Prepaid Expenses and Deferred Charges$106,083$73,102▼ $32,981
Accounts Receivable$3,466$0▼ $3,466
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$51,030,688$42,312,554▼ $8,718,134
Other Assets Total$362,448$286,355▼ $76,093
Liabilities
Other Liabilities$112,000$185,500▲ $73,500
Accounts Payable and Accrued Expenses$162,856$167,256▲ $4,400
Total Liabilities$274,856$352,756▲ $77,900
Net Assets / Fund Balance
Total Net Assets Fund Balance$50,755,832$41,959,798▼ $8,796,034
Total Liabilities and Net Assets / Fund Balance$51,030,688$42,312,554▼ $8,718,134
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Gary R DonaheeChairman, Committee MemberPT$6,000$6,000
John ZalokarCommittee MemberPT$6,000$6,000
Mark HauptCommittee MemberPT$6,000$6,000
Michael RessnerTreasurer, Committee MembePT$6,000$6,000
Susan KaneSecretary, Committee MembePT$6,000$6,000

Highest Paid Contractors

ContractorServicesLocationCompensation
Wageworks INCBenefit Payor1100 PARK PLACE 4TH FLOOR, San Mateo, CA 94403$137,414
Wells Fargo Inst Retirement & TrustInvestment Mgt.12 E 49TH ST MAC J0109-261, New York, NY 10017$120,756
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$594,335
Other Revenue
$0
Change in Net Assets
$-8,821,396

Audited Revenue Reconciliation

Revenue per Audited Statements
$594,335
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$25,362
Total Revenue per Audited Statements
$619,697
Total Revenue per Form 990
$594,335
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$551,923
Salaries, Compensation, and Employee Benefits$30,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$8,833,808
Fees for Services Other---$137,447
Fees for Service Investment Mgmnt Fees---$115,146
Fees for Services Accounting---$47,428
Fees for Services Legal---$33,671
Insurance---$32,981
Current Officers, Directors, Trustees, and Key Employees---$30,000
Travel---$5,697
Other Expenses---$96
All Other Expenses---$92
Total Functional Expenses$0$0$0$9,415,731

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,415,731
Total Expenses per Audited Statements$9,415,731
Total Expenses per Form 990$9,415,731
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
No
Audit committee
Yes
Backup withholding compliance
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
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The trust has delegated control over the claims payment process to an outside third-party processor pursuant to a written contract.

Form 990, Part VI, Section A, Line 6

The organization has members who are beneficiaries of the veba (trust) and receive reimbursement of eligible medical expenses in accordance with the hra plan document.

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

The veba committee has the authority to appoint and remove, employ and discharge, and prescribe the duties and fix the compensation, if any, of all officers, agents and third party service providers of the trust.

Form 990, Part VI, Section B, Line 11

Form 990 is distributed to each member of the veba committee. The committee meets to discuss and approve the form 990 before it is filed.

Form 990, Part VI, Section B, Line 15

The organization does not have processes for reviewing and approving the compensation of the ceo, executive director, top management offical or other officers or key employees because the organization does not have persons serving in such positions. Accordingly such processes would not be applicable to the organization.

Form 990, Part VI, Section C, Line 19

The trust agreement, hra plan documents and other governing documents are not made available to the public. Beneficiaries of the trust (and participants in the hra plan) may request copies of hra plan documents and the form 5500, and will be provided with a summary annual report (sar) for the hra plan per erisa requirements.

Filing and Contact Details

Filer

Filer Name
Nn Retirees Benefit Trust
EIN
46-6653802
Phone
6156783138
Address
PO BOX 292877, NASHVILLE, TN 37229

Signing Officer

Name
Gary Donahee
Title
Veba Committee Chair
Phone
6156783138
Signed
2016-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gary Donahee
Formed
2013
Legal Domicile
Nj
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Carr Riggs & Ingram LLC
Address
3011 ARMORY DRIVE SUITE 190, NASHVILLE, TN 37204
Preparer
Gary K Sharp
Phone
6156651811
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2(C):

The entire veba committee assumes responsibility for the oversight of the audit and is involved in the selection of the auditor and the review of the financial statements and auditor's report issued by the independent auditor.

Financial Statement Notes

PART X, LINE 2:

Accounting principles generally accepted in the united state of america require plan management to evaluate tax positions taken by the plan and recognize a tax liability (or asset) if it has taken an uncertain position that more likely than not would be sustained upon examination by the internal revenue service. The plan administrator has analyzed the tax positions taken by the plan and has concluded that, as of december 31, 2015 and 2014, 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 Appendix326 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/Form990PartVIISectionAGrp/PersonNm2MICHAEL RESSNER
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IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER, COMMITTEE MEMBE
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IRS990ScheduleD/RevenueSubtotalAmt0594335
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATE OF AMERICA REQUIRE PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF IT HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE PLAN ADMINISTRATOR HAS ANALYZED THE TAX POSITIONS TAKEN BY THE PLAN AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2015 AND 2014, 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:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt09415731
IRS990ScheduleD/TotalLiabilityAmt0185500
IRS990ScheduleD/TotalRevenuePerForm990Amt0594335
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0619697
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt09415731
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TRUST HAS DELEGATED CONTROL OVER THE CLAIMS PAYMENT PROCESS TO AN OUTSIDE THIRD-PARTY PROCESSOR PURSUANT TO A WRITTEN CONTRACT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS MEMBERS WHO ARE BENEFICIARIES OF THE VEBA (TRUST) AND RECEIVE REIMBURSEMENT OF ELIGIBLE MEDICAL EXPENSES IN ACCORDANCE WITH THE HRA PLAN DOCUMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE VEBA COMMITTEE HAS THE AUTHORITY TO APPOINT AND REMOVE, EMPLOY AND DISCHARGE, AND PRESCRIBE THE DUTIES AND FIX THE COMPENSATION, IF ANY, OF ALL OFFICERS, AGENTS AND THIRD PARTY SERVICE PROVIDERS OF THE TRUST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 IS DISTRIBUTED TO EACH MEMBER OF THE VEBA COMMITTEE. THE COMMITTEE MEETS TO DISCUSS AND APPROVE THE FORM 990 BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION DOES NOT HAVE PROCESSES FOR REVIEWING AND APPROVING THE COMPENSATION OF THE CEO, EXECUTIVE DIRECTOR, TOP MANAGEMENT OFFICAL OR OTHER OFFICERS OR KEY EMPLOYEES BECAUSE THE ORGANIZATION DOES NOT HAVE PERSONS SERVING IN SUCH POSITIONS. ACCORDINGLY SUCH PROCESSES WOULD NOT BE APPLICABLE TO THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE TRUST AGREEMENT, HRA PLAN DOCUMENTS AND OTHER GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. BENEFICIARIES OF THE TRUST (AND PARTICIPANTS IN THE HRA PLAN) MAY REQUEST COPIES OF HRA PLAN DOCUMENTS AND THE FORM 5500, AND WILL BE PROVIDED WITH A SUMMARY ANNUAL REPORT (SAR) FOR THE HRA PLAN PER ERISA REQUIREMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ENTIRE VEBA COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT AND IS INVOLVED IN THE SELECTION OF THE AUDITOR AND THE REVIEW OF THE FINANCIAL STATEMENTS AND AUDITOR'S REPORT ISSUED BY THE INDEPENDENT AUDITOR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2(C):
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt051030688
IRS990/TotalAssetsEOYAmt042312554
IRS990/TotalAssetsGrp/BOYAmt051030688
IRS990/TotalAssetsGrp/EOYAmt042312554
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt09415731
IRS990/TotalGrossUBIAmt0594335
IRS990/TotalLiabilitiesBOYAmt0274856
IRS990/TotalLiabilitiesEOYAmt0352756
IRS990/TotalLiabilitiesGrp/BOYAmt0274856
IRS990/TotalLiabilitiesGrp/EOYAmt0352756
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt050755832
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt041959798
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt09415731
IRS990/TotalReportableCompFromOrgAmt030000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0594335
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0594335
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt051030688
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt042312554
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt05697
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 292877
IRS990/USAddress/CityNm0NASHVILLE
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd037229
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0NNRBT.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0GARY DONAHEE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VEBA COMMITTEE CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum06156783138
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NN RETIREES BENEFIT TRUST
ReturnHeader/Filer/BusinessNameControlTxt0NNRE
ReturnHeader/Filer/EIN0466653802
ReturnHeader/Filer/PhoneNum06156783138
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 292877
ReturnHeader/Filer/USAddress/CityNm0NASHVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd037229
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0721396621
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CARR RIGGS & INGRAM LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03011 ARMORY DRIVE SUITE 190
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NASHVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd037204
ReturnHeader/PreparerPersonGrp/PhoneNum06156651811
ReturnHeader/PreparerPersonGrp/PreparationDt02016-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GARY K SHARP
ReturnHeader/ReturnTs02016-11-14T13:49:13-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

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