Civic Intelligence

Nn Retirees Benefit Trust

990 • Fiscal year 2016 • EIN 46-6653802

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 15, 2017

Organization ProfileNNRBT.ORG

View Organization Page

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

33rd percentile

0.01x

Higher debt load relative to assets than 33% of similar nonprofits.

2016 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

99th percentile

4.96x

Higher debt load relative to revenue than 99% of similar nonprofits.

2016 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2016

Net Margin

1st percentile

-14400%

Higher net margin than 1% of similar nonprofits.

2016 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

50th percentile

$6,000

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 11.3% of source-year revenue.

2016 filings • 501(c)9 • $25M-$50M nonprofits • Source year 2016

Asset Growth

7th percentile

-17%

Faster asset growth than 7% of similar nonprofits.

2016 filings • 501(c)9 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

1st percentile

-91%

Faster revenue growth than 1% of similar nonprofits.

2016 filings • 501(c)9 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Down

$35,121,714

Down $7,190,840 (-17%) from 2015

Net Assets

Down

$34,858,937

Down $7,100,861 (-17%) from 2015

Liabilities

Down

$262,777

Down $89,979 (-26%) from 2015

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin1st percentile

Revenue

Down

$53,024

Down $541,311 (-91%) from 2015

Expenses

Down

$7,688,509

Down $1,727,222 (-18%) from 2015

Net Income

Up

-$7,635,485

Up $1,185,911 (+13%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth7th percentile

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

2016

Assets$35,121,714
Liabilities$262,777
Net Assets$34,858,937
Open 2016 Filing

Operations Trend

Revenue Growth1st percentile

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

2016

Revenue$53,024
Expenses$7,688,509
Net Income-$7,635,485
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 15, 2017
Return Version
2016v3.0
Gross Receipts
$28,588,767
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 eligbile medical expenses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$41,959,798$34,858,937▼ $7,100,861
Investments in Publicly Traded Securities$38,694,480$22,296,680▼ $16,397,800
Savings and Temporary Cash Investments$3,258,617$12,614,206▲ $9,355,589
Accounts Receivable$286,355$170,707▼ $115,648
Prepaid Expenses and Deferred Charges$73,102$40,121▼ $32,981
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$42,312,554$35,121,714▼ $7,190,840
Liabilities
Accounts Payable and Accrued Expenses$167,256$262,777▲ $95,521
Other Liabilities$185,500$0▼ $185,500
Total Liabilities$352,756$262,777▼ $89,979
Net Assets / Fund Balance
Total Net Assets Fund Balance$41,959,798$34,858,937▼ $7,100,861
Total Liabilities and Net Assets / Fund Balance$42,312,554$35,121,714▼ $7,190,840
Compensation and Service Providers
Top Officer Pay50th percentile

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 MemberPT$6,000$6,000
Susan KaneSecretary, Committee MemberPT$6,000$6,000

Highest Paid Contractors

ContractorServicesLocationCompensation
Wageworks INCBenefit Payor1100 PARK PLACE 4TH FLOOR, San Mateo, CA 94403$140,275
Mccarter & EnglishLegal Services825 EIGHTH AVENUE 31ST FLOOR, New York, NY 10019$110,810
Wells Fargo Inst Retirement & TrustInvestment Mgmt12 E 49TH ST MAC J0109-261, New York, NY 10017$100,579
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$53,024
Other Revenue
$0
Change in Net Assets
$-7,635,485

Audited Revenue Reconciliation

Revenue per Audited Statements
$53,024
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$534,624
Total Revenue per Audited Statements
$587,648
Total Revenue per Form 990
$53,024
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$389,985
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$7,268,524--$7,268,524
Fees for Services Legal$110,810--$110,810
Fees for Service Investment Mgmnt Fees$100,579--$100,579
Fees for Services Accounting$55,333--$55,333
Comp Disqual Persons$30,000--$30,000
Fees for Services Other$6,933--$6,933
Other Expenses$6,634--$6,634
Travel$5,588--$5,588
Total Functional Expenses$7,688,509$0$0$7,688,509

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,688,509
Total Expenses per Audited Statements$7,688,509
Total Expenses per Form 990$7,688,509
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 beneficaries 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 11B

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

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 or 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 annutal report (sar) for the hra plan per erisa requirements.”

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 officials or other officers or key employees because the organizaiton does not have persons serving in such positons. Accordingly such processes would not be applicable to the organization.”

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
2017-11-15
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
Frazier & Deeter LLC
Address
1230 PEACHTREE STREET NE SUITE 1500, ATLANTA, GA 30309
Preparer
George C Pope
Phone
4042537500
Supplemental Narrative

Additional Explanations

FORM 990; PART XII; LINE 2(C)

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

Financial Statement Notes

PART X, LINE 2:

“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 it has taken an uncertain position that more likely than not would be sustained upon examimation 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, 2016 and 2015, there are no uncertain positions taken, or expected to be taken that would require recognition of a liability of 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 Appendix342 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/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0THE TRUST (VEBA) PROVIDES REIMBURSEMENT OF ELIGBILE MEDICAL EXPENSES.
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IRS990/BackupWthldComplianceInd01
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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt2WELLS FARGO INST RETIREMENT & TRUST
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IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER, COMMITTEE MEMBER
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IRS990ScheduleD/RevenueNotReportedAmt0534624
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt053024
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING 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 IT HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD BE SUSTAINED UPON EXAMIMATION 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, 2016 AND 2015, THERE ARE NO UNCERTAIN POSITIONS TAKEN, OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OF 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 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 BENEFICARIES 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 COMMITTE MEETS TO DISCUSS AND APPROVE THE FORM 990 BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE TRUST AGREEMENT, HRA PLAN DOCUMENTS AND OTHER GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. BENEFICIARIES OR 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 ANNUTAL REPORT (SAR) FOR THE HRA PLAN PER ERISA REQUIREMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION DOES NOT HAVE PROCESSES FOR REVIEWING AND APPROVING THE COMPENSATION OF THE CEO, EXECUTIVE DIRECTOR, TOP MANAGEMENT OFFICIALS OR OTHER OFFICERS OR KEY EMPLOYEES BECAUSE THE ORGANIZAITON DOES NOT HAVE PERSONS SERVING IN SUCH POSITONS. ACCORDINGLY SUCH PROCESSES WOULD NOT BE APPLICABLE TO THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ENTIRE VEBA COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGNT OF THE AUDIT AND IS INVOLVED IN THE SELECTION OF THE AUDITOR AND THE REVIEW OF THE FINANCIALS 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 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990; PART VI; SECTION B; LINE 15
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
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IRS990/TotalAssetsGrp/BOYAmt042312554
IRS990/TotalAssetsGrp/EOYAmt035121714
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt07688509
IRS990/TotalGrossUBIAmt00
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IRS990/TotalOtherCompensationAmt00
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IRS990/TotalRevenueGrp/ExclusionAmt053024
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt053024
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt042312554
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt035121714
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt05588
IRS990/TravelGrp/TotalAmt05588
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0NASHVILLE
IRS990/USAddress/StateAbbreviationCd0TN
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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/SignatureDt02017-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NN RETIREES BENEFIT TRUST
ReturnHeader/Filer/BusinessNameControlTxt0NNRE
ReturnHeader/Filer/EIN0466653802
ReturnHeader/Filer/PhoneNum06156783138
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 292877
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt040.132.51.144
ReturnHeader/FilingSecurityInformation/IPDt02017-11-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm013:14:23
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0581433845
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FRAZIER & DEETER LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01230 PEACHTREE STREET NE SUITE 1500
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ATLANTA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd030309
ReturnHeader/PreparerPersonGrp/PhoneNum04042537500
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GEORGE C POPE
ReturnHeader/ReturnTs02017-11-15T12:27:45-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$35,121,714
Liabilities
$262,777
Net assets
$34,858,937
Revenue
$53,024
Expenses
$7,688,509
Net income
-$7,635,485
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2019Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.02$0.26$0.24
2018Detailed filing. Detailed filing data is available for this year.$1.61$1.37$0.24$0.03$0.62$0.59
2017Detailed filing. Detailed filing data is available for this year.$1.85$1.02$0.83$0.20$34.7$34.5
2016Detailed filing. Detailed filing data is available for this year.$35.1$0.26$34.9$0.05$7.69$7.64
2015Detailed filing. Detailed filing data is available for this year.$42.3$0.35$42.0$0.59$9.42$8.82
2014Detailed filing. Detailed filing data is available for this year.$51.0$0.27$50.8$0.48$10.8$10.3
2013Detailed filing. Detailed filing data is available for this year.$61.3$0.23$61.1$66.4$5.20$61.2