Civic Intelligence

Capreit Welfare Benefit Trust

990 • Fiscal year 2020 • EIN 52-1927939

Feb 01, 2019 to Jan 31, 2020 • Filed on Dec 04, 2020

Organization ProfileN/A
11200 Rockville Pike No 100Rockville, MD 20852

(301) 231-8700

Siviq Scores

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

Liabilities / Assets

70th percentile

0.13x

Higher debt load relative to assets than 70% of similar nonprofits.

2020 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

59th percentile

0.06x

Higher debt load relative to revenue than 59% of similar nonprofits.

2020 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2020

Net Margin

56th percentile

7.2%

Higher net margin than 56% of similar nonprofits.

2020 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

48th percentile

$0

Higher top officer pay than 48% of similar nonprofits.

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

2020 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2020

Asset Growth

92nd percentile

41%

Faster asset growth than 92% of similar nonprofits.

2020 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

71st percentile

6.0%

Faster revenue growth than 71% of similar nonprofits.

2020 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$2,275,097

Up $656,565 (+41%) from 2019

Net Assets

Up

$1,975,216

Up $368,305 (+23%) from 2019

Liabilities

Up

$299,881

Up $288,260 (+2481%) from 2019

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin56th percentile

Revenue

Up

$5,085,524

Up $288,050 (+6.0%) from 2019

Expenses

Up

$4,717,219

Up $383,165 (+8.8%) from 2019

Net Income

Down

$368,305

Down $95,115 (-21%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,221,851Liabilities 2011: $0Net Assets 2011: $1,221,8512011Assets 2012: $1,368,202Liabilities 2012: $0Net Assets 2012: $1,368,2022012Assets 2013: $1,292,915Liabilities 2013: $0Net Assets 2013: $1,292,9152013Assets 2014: $838,981Liabilities 2014: $0Net Assets 2014: $838,9812014Assets 2015: $731,083Liabilities 2015: $59,473Net Assets 2015: $671,6102015Assets 2016: $705,475Liabilities 2016: $78,446Net Assets 2016: $627,0292016Assets 2017: $1,253,489Liabilities 2017: $100,362Net Assets 2017: $1,153,1272017Assets 2018: $1,143,491Liabilities 2018: $0Net Assets 2018: $1,143,4912018Assets 2019: $1,618,532Liabilities 2019: $11,621Net Assets 2019: $1,606,9112019Assets 2020: $2,275,097Liabilities 2020: $299,881Net Assets 2020: $1,975,2162020Assets 2021: $2,684,057Liabilities 2021: $19,079Net Assets 2021: $2,664,9782021Assets 2022: $2,407,315Liabilities 2022: $21,813Net Assets 2022: $2,385,5022022Assets 2023: $2,039,851Liabilities 2023: $122,281Net Assets 2023: $1,917,5702023Assets 2024: $2,417,145Liabilities 2024: $33,417Net Assets 2024: $2,383,7282024Assets 2025: $1,670,016Liabilities 2025: $91,049Net Assets 2025: $1,578,9672025

Highlighted filing

2020

Assets$2,275,097
Liabilities$299,881
Net Assets$1,975,216
Open 2020 Filing

Operations Trend

Revenue Growth71st percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $2,719,495Expenses 2011: $2,763,570Net Income 2011: -$44,0752011Expenses 2012: $2,328,6182012Expenses 2013: $2,371,4112013Revenue 2014: $2,190,757Expenses 2014: $2,644,691Net Income 2014: -$453,9342014Revenue 2015: $2,725,697Expenses 2015: $2,893,068Net Income 2015: -$167,3712015Revenue 2016: $3,457,557Expenses 2016: $3,502,138Net Income 2016: -$44,5812016Revenue 2017: $4,056,191Expenses 2017: $3,530,093Net Income 2017: $526,0982017Revenue 2018: $4,092,179Expenses 2018: $4,101,815Net Income 2018: -$9,6362018Revenue 2019: $4,797,474Expenses 2019: $4,334,054Net Income 2019: $463,4202019Revenue 2020: $5,085,524Expenses 2020: $4,717,219Net Income 2020: $368,3052020Revenue 2021: $5,318,218Expenses 2021: $4,628,456Net Income 2021: $689,7622021Revenue 2022: $4,732,042Expenses 2022: $5,011,518Net Income 2022: -$279,4762022Revenue 2023: $4,360,536Expenses 2023: $4,828,468Net Income 2023: -$467,9322023Revenue 2024: $4,262,981Expenses 2024: $3,796,823Net Income 2024: $466,1582024Revenue 2025: $3,579,106Expenses 2025: $4,383,867Net Income 2025: -$804,7612025

Highlighted filing

2020

Revenue$5,085,524
Expenses$4,717,219
Net Income$368,305
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Feb 1, 2019 to Jan 31, 2020
Signed
Dec 4, 2020
Return Version
2019v5.1
Gross Receipts
$5,085,524
Mission and Program Overview

Mission

To support health and other benefits to be paid to the eligible employees of capreit.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,618,532$2,275,097▲ $656,565
Total Assets$1,618,532$2,275,097▲ $656,565
Liabilities
Other Liabilities$0$275,099▲ $275,099
Accounts Payable and Accrued Expenses$11,621$24,782▲ $13,161
Total Liabilities$11,621$299,881▲ $288,260
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,606,911$1,975,216▲ $368,305
Total Net Assets Fund Balance$1,606,911$1,975,216▲ $368,305
Total Liabilities and Net Assets / Fund Balance$1,618,532$2,275,097▲ $656,565
Compensation and Service Providers
Top Officer Pay48th percentile

Board Members and Trustees

NameTitle
-Trustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,085,524
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$368,305

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,085,524
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$5,085,524
Total Revenue per Form 990
$5,085,524
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$351,003
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---$4,366,216
Fees for Services Other---$333,443
Fees for Services Accounting---$16,400
Other Expenses---$1,160
Total Functional Expenses$0$0$0$4,717,219

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,717,219
Total Expenses per Audited Statements$4,717,219
Total Expenses per Form 990$4,717,219
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
Due to Plan Sponsor$275,099
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
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
No
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 8B

“There are no committees that have authority to act on behalf of the trustee.”

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

“Officers of the trustee's general partner review the plan's federal form 990 for accuracy prior to filing with the internal revenue service.”

Form 990, Part VI, Section B, Line 12

“The trustee uses the conflict of interest of its general partner. The trustee's general partner monitors and enforces compliance with the policy and any impact on plan administration.”

Form 990, Part VI, Section C, Line 19

“The plan makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Capreit Welfare Benefit Trust
EIN
52-1927939
Phone
3012318700
Address
11200 ROCKVILLE PIKE NO 100, ROCKVILLE, MD 20852

Signing Officer

Name
Terence J Collins
Title
Officer
Phone
3012318700
Signed
2020-12-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Terence J Collins
Formed
2013
Legal Domicile
Md
Voting Board Members
1
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Cohnreznick Llp
Address
7501 WISCONSIN AVENUE SUITE 400E, BETHESDA, MD 20814
Preparer
Glenn M Shelton
Phone
3016529100
Supplemental Narrative

Additional Explanations

FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

“Capreit welfare benefit plan (the plan) was formed to serve as the funding vehicle for health and other benefits to be paid to the eligible employees of capreit operating lp, capreit residential corporation, and capreit management, llc and their respective eligible dependents pursuant to the capreit welfare benefit plan. The plan is engaged in no activities other than those required to maintain its existence.”

FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS:

“The plan provides benefits consisting of (i) a partially self-funded health program providing medical, dental, and prescription benefits, (ii) a premium conversion program designed to enable participants to pay their portion of the cost of coverage on a pre-tax basis under the employer's self-insured health program, (iii) a life and accidental death and dismemberment (ad&d) program, (iv) a long term disability program, and (v) an organ or tissue transplant program. Current health claims of participants and their participating eligible dependents are provided under a group stop-loss insurance arrangement after certain individual and family limits of $95,000 and aggregate claims limits which are based on an agreed-upon formula with the insurer are met.”

Financial Statement Notes

PART X, LINE 2:

“The irs has determined and informed the company by a letter dated february 13, 2013, that the plan and related trust are designed in accordance with applicable sections of the irc. Although the plan has been amended since receiving the determination letter, the plan administrator and the plan's tax counsel believe that the plan is designed, and is currently being operated, in compliance with the applicable requirements of the irc and, therefore, believe that the plan is qualified and the related trust is tax exempt. Gaap requires plan management to evaluate tax positions taken by the plan and recognize a tax liability 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 Appendix309 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE IRS HAS DETERMINED AND INFORMED THE COMPANY BY A LETTER DATED FEBRUARY 13, 2013, THAT THE PLAN AND RELATED TRUST ARE DESIGNED IN ACCORDANCE WITH APPLICABLE SECTIONS OF THE IRC. ALTHOUGH THE PLAN HAS BEEN AMENDED SINCE RECEIVING THE DETERMINATION LETTER, THE PLAN ADMINISTRATOR AND THE PLAN'S TAX COUNSEL BELIEVE THAT THE PLAN IS DESIGNED, AND IS CURRENTLY BEING OPERATED, IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC AND, THEREFORE, BELIEVE THAT THE PLAN IS QUALIFIED AND THE RELATED TRUST IS TAX EXEMPT. GAAP REQUIRES PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY 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:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CAPREIT WELFARE BENEFIT PLAN (THE PLAN) WAS FORMED TO SERVE AS THE FUNDING VEHICLE FOR HEALTH AND OTHER BENEFITS TO BE PAID TO THE ELIGIBLE EMPLOYEES OF CAPREIT OPERATING LP, CAPREIT RESIDENTIAL CORPORATION, AND CAPREIT MANAGEMENT, LLC AND THEIR RESPECTIVE ELIGIBLE DEPENDENTS PURSUANT TO THE CAPREIT WELFARE BENEFIT PLAN. THE PLAN IS ENGAGED IN NO ACTIVITIES OTHER THAN THOSE REQUIRED TO MAINTAIN ITS EXISTENCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PLAN PROVIDES BENEFITS CONSISTING OF (I) A PARTIALLY SELF-FUNDED HEALTH PROGRAM PROVIDING MEDICAL, DENTAL, AND PRESCRIPTION BENEFITS, (II) A PREMIUM CONVERSION PROGRAM DESIGNED TO ENABLE PARTICIPANTS TO PAY THEIR PORTION OF THE COST OF COVERAGE ON A PRE-TAX BASIS UNDER THE EMPLOYER'S SELF-INSURED HEALTH PROGRAM, (III) A LIFE AND ACCIDENTAL DEATH AND DISMEMBERMENT (AD&D) PROGRAM, (IV) A LONG TERM DISABILITY PROGRAM, AND (V) AN ORGAN OR TISSUE TRANSPLANT PROGRAM. CURRENT HEALTH CLAIMS OF PARTICIPANTS AND THEIR PARTICIPATING ELIGIBLE DEPENDENTS ARE PROVIDED UNDER A GROUP STOP-LOSS INSURANCE ARRANGEMENT AFTER CERTAIN INDIVIDUAL AND FAMILY LIMITS OF $95,000 AND AGGREGATE CLAIMS LIMITS WHICH ARE BASED ON AN AGREED-UPON FORMULA WITH THE INSURER ARE MET.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE ARE NO COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE TRUSTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OFFICERS OF THE TRUSTEE'S GENERAL PARTNER REVIEW THE PLAN'S FEDERAL FORM 990 FOR ACCURACY PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE TRUSTEE USES THE CONFLICT OF INTEREST OF ITS GENERAL PARTNER. THE TRUSTEE'S GENERAL PARTNER MONITORS AND ENFORCES COMPLIANCE WITH THE POLICY AND ANY IMPACT ON PLAN ADMINISTRATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PLAN MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
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IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0REAL ESTATE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0CAPREIT RESIDENTIAL CORPORATION
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0CAPREIT OPERATING LIMITED PARTNERSHIP
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ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,275,097
Liabilities
$299,881
Net assets
$1,975,216
Revenue
$5,085,524
Expenses
$4,717,219
Net income
$368,305
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.67$0.09$1.58$3.58$4.38$0.80
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.42$0.03$2.38$4.26$3.80$0.47
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.04$0.12$1.92$4.36$4.83$0.47
2022Detailed filing. Detailed filing data is available for this year.$2.41$0.02$2.39$4.73$5.01$0.28
2021Detailed filing. Detailed filing data is available for this year.$2.68$0.02$2.66$5.32$4.63$0.69
2020Detailed filing. Detailed filing data is available for this year.$2.28$0.30$1.98$5.09$4.72$0.37
2019Detailed filing. Detailed filing data is available for this year.$1.62$0.01$1.61$4.80$4.33$0.46
2018Detailed filing. Detailed filing data is available for this year.$1.14$0.00$1.14$4.09$4.10$0.01
2017Detailed filing. Detailed filing data is available for this year.$1.25$0.10$1.15$4.06$3.53$0.53
2016Detailed filing. Detailed filing data is available for this year.$0.71$0.08$0.63$3.46$3.50$0.04
2015Summary only. Only limited summary data is available for this year.$0.73$0.06$0.67$2.73$2.89$0.17
2014Detailed filing. Detailed filing data is available for this year.$0.84$0.00$0.84$2.19$2.64$0.45
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.29$0.00$1.29$2.37
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.37$0.00$1.37$2.33
2011Summary only. Only limited summary data is available for this year.$1.22$0.00$1.22$2.72$2.76$0.04