Civic Intelligence

Sonoco Employees Benefit Trust

990 • Fiscal year 2017 • EIN 57-0752046

Jan 01, 2017 to Dec 31, 2017 • Filed on Oct 31, 2018

Organization Profilewww.sonoco.com
1 North 2nd Street A01Hartsville, SC 29550

(843) 383-7000

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2017

Liabilities / Revenue

82nd percentile

0.26x

Higher debt load relative to revenue than 82% of similar nonprofits.

2017 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2017

Net Margin

31st percentile

-0.3%

Higher net margin than 31% of similar nonprofits.

2017 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2017

Top Officer Pay

32nd percentile

$0

Higher top officer pay than 32% of similar nonprofits.

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

2017 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2016 to 2017

Revenue Growth

11th percentile

-9.6%

Faster revenue growth than 11% of similar nonprofits.

2017 filings • 501(c)9 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

-$731,000

Down $1,076,000 (-312%) from 2016

Net Assets

Down

-$29,424,000

Down $294,000 (-1.0%) from 2016

Liabilities

Down

$28,693,000

Down $782,000 (-2.7%) from 2016

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin31st percentile

Revenue

Down

$109,529,000

Down $11,665,000 (-9.6%) from 2016

Expenses

Down

$109,823,000

Down $9,684,000 (-8.1%) from 2016

Net Income

Down

-$294,000

Down $1,981,000 (-117%) from 2016

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$100M$50M$0-$50M-$100MAssets 2010: $20,000Liabilities 2010: $52,220,000Net Assets 2010: -$52,200,0002010Assets 2011: $1,296,000Liabilities 2011: $49,961,000Net Assets 2011: -$48,665,0002011Assets 2012: $446,000Liabilities 2012: $45,467,000Net Assets 2012: -$45,021,0002012Assets 2013: $1,203,000Liabilities 2013: $36,281,000Net Assets 2013: -$35,078,0002013Assets 2014: -$346,000Liabilities 2014: $36,981,000Net Assets 2014: -$37,327,0002014Assets 2015: -$655,000Liabilities 2015: $30,162,000Net Assets 2015: -$30,817,0002015Assets 2016: $345,000Liabilities 2016: $29,475,000Net Assets 2016: -$29,130,0002016Assets 2017: -$731,000Liabilities 2017: $28,693,000Net Assets 2017: -$29,424,0002017Assets 2018: -$726,000Liabilities 2018: $29,092,000Net Assets 2018: -$29,818,0002018Assets 2019: -$724,000Liabilities 2019: $29,371,000Net Assets 2019: -$30,095,0002019Assets 2020: $147,000Liabilities 2020: $29,782,000Net Assets 2020: -$29,635,0002020Assets 2021: $307,000Liabilities 2021: $29,249,000Net Assets 2021: -$28,942,0002021Assets 2022: $304,000Liabilities 2022: $25,605,000Net Assets 2022: -$25,301,0002022

Highlighted filing

2017

Assets-$731,000
Liabilities$28,693,000
Net Assets-$29,424,000
Open 2017 Filing

Operations Trend

Revenue Growth11th percentile

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

$150M$100M$50M$0-$50MExpenses 2010: $67,574,0002010Revenue 2011: $96,570,000Expenses 2011: $93,035,000Net Income 2011: $3,535,0002011Expenses 2012: $91,139,0002012Revenue 2013: $106,741,000Expenses 2013: $96,798,000Net Income 2013: $9,943,0002013Revenue 2014: $118,840,000Expenses 2014: $121,089,000Net Income 2014: -$2,249,0002014Revenue 2015: $126,041,000Expenses 2015: $119,531,000Net Income 2015: $6,510,0002015Revenue 2016: $121,194,000Expenses 2016: $119,507,000Net Income 2016: $1,687,0002016Revenue 2017: $109,529,000Expenses 2017: $109,823,000Net Income 2017: -$294,0002017Revenue 2018: $101,876,000Expenses 2018: $102,270,000Net Income 2018: -$394,0002018Revenue 2019: $118,702,000Expenses 2019: $118,979,000Net Income 2019: -$277,0002019Revenue 2020: $113,704,000Expenses 2020: $113,244,000Net Income 2020: $460,0002020Revenue 2021: $123,001,000Expenses 2021: $122,308,000Net Income 2021: $693,0002021Revenue 2022: $121,194,000Expenses 2022: $117,553,000Net Income 2022: $3,641,0002022

Highlighted filing

2017

Revenue$109,529,000
Expenses$109,823,000
Net Income-$294,000
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Oct 31, 2018
Return Version
2017v2.0
Gross Receipts
$109,529,000
Mission and Program Overview

Mission

Provide funding for group health and welfare plans covering employees and retirees of Sonoco Products Company.

Funding vehicle for group health and welfare plans covering employees and retirees of Sonoco Products Company.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$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 Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net-$0-
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0--
Prepaid Expenses and Deferred Charges$0$0→ $0
Cash and Non-Interest-Bearing Accounts$345,000$-731,000▼ $1,076,000
Other Assets Total$0$0→ $0
Total Assets$345,000$-731,000▼ $1,076,000
Liabilities
Accounts Payable and Accrued Expenses$29,475,000$28,693,000▼ $782,000
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0--
Unsecured Notes Loans Payable$0--
Deferred Revenue$0--
Escrow Account Liability$0--
Tax Exempt Bond Liabilities$0--
Total Liabilities$29,475,000$28,693,000▼ $782,000
Net Assets / Fund Balance
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Unrestricted Net Assets$-29,130,000$-29,424,000▼ $294,000
Total Net Assets Fund Balance$-29,130,000$-29,424,000▼ $294,000
Total Liabilities and Net Assets / Fund Balance$345,000$-731,000▼ $1,076,000
Compensation and Service Providers
Top Officer Pay32nd percentile

Board Members and Trustees

NameTitle
Michelle V BanksonDirector, Compensation & Benefits
Julie C AlbrechtTreasurer/Asst CFO
Revenue and Support

Revenue Composition

Contributions and Grants
$109,529,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$109,529,000
Change in Net Assets
$-294,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,509,639
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$102,313,361--$102,313,361
Fees for Services Management$0$7,614,639-$7,614,639
Other Expenses$0$-105,000$0$-105,000
Total Functional Expenses$102,313,361$7,509,639$0$109,823,000
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--
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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 8A

“No meetings conducted in 2017.”

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

“No meetings or actions conducted in 2016.”

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

“Form 990 is prepared by the Employee Benefits and Financial Accounting departments. Management from both departments review and approve the form.”

Form 990, Part VI, Section C, Line 19

“This trust is used as a funding vehicle for group health and welfare plans covering employees and retirees of Sonoco Products Company and the governing documents or financial statements are not made available to the public. The documents will be provided upon request.”

Filing and Contact Details

Filer

Filer Name
Sonoco Employees Benefit Trust
EIN
57-0752046
Phone
8433837000
Address
1 North 2nd Street A01, Hartsville, SC 29550

Signing Officer

Name
Michelle Bankson
Title
Director, Employee Benefits
Phone
8433837000
Signed
2018-10-31

Organization Details

Principal Officer
Michelle V Bankson
Formed
1998
Legal Domicile
Sc
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
0
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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/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0109529000
IRS990/RoyaltiesGrp/ProgramServicesAmt00
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990/ScheduleBRequiredInd00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No meetings conducted in 2017.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No meetings or actions conducted in 2016.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Form 990 is prepared by the Employee Benefits and Financial Accounting departments. Management from both departments review and approve the form.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3This trust is used as a funding vehicle for group health and welfare plans covering employees and retirees of Sonoco Products Company and the governing documents or financial statements are not made available to the public. The documents will be provided upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt00
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0345000
IRS990/TotalAssetsEOYAmt0-731000
IRS990/TotalAssetsGrp/BOYAmt0345000
IRS990/TotalAssetsGrp/EOYAmt0-731000
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0109529000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt07509639
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0102313361
IRS990/TotalFunctionalExpensesGrp/TotalAmt0109823000
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt029475000
IRS990/TotalLiabilitiesEOYAmt028693000
IRS990/TotalLiabilitiesGrp/BOYAmt029475000
IRS990/TotalLiabilitiesGrp/EOYAmt028693000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-29130000
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-29424000
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt0102313361
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0109529000
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0345000
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0-731000
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-29130000
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-29424000
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01 North 2nd Street A01
IRS990/USAddress/CityNm0Hartsville
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd029550
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0www.sonoco.com
IRS990/WhistleblowerPolicyInd00
ReasonableCauseExplanation/ExplanationTxt0Form 990 could not be completed until plan audits were finished. Approval from IRS for deadline extension to 11/15/18 was applied for and accepted 4/13/18.
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Michelle Bankson
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director, Employee Benefits
ReturnHeader/BusinessOfficerGrp/PhoneNum08433837000
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-10-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SONOCO EMPLOYEES BENEFIT TRUST
ReturnHeader/Filer/BusinessNameControlTxt0SONO
ReturnHeader/Filer/EIN0570752046
ReturnHeader/Filer/PhoneNum08433837000
ReturnHeader/Filer/USAddress/AddressLine1Txt01 North 2nd Street A01
ReturnHeader/Filer/USAddress/CityNm0Hartsville
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SC
ReturnHeader/Filer/USAddress/ZIPCd029550
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0104.129.194.90
ReturnHeader/ReturnTs02018-10-31T13:35:17-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
-$731,000
Liabilities
$28,693,000
Net assets
-$29,424,000
Revenue
$109,529,000
Expenses
$109,823,000
Net income
-$294,000
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.30$25.6$25.3$121$118$3.64
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.31$29.2$28.9$123$122$0.69
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.15$29.8$29.6$114$113$0.46
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.72$29.4$30.1$119$119$0.28
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.73$29.1$29.8$102$102$0.39
2017Detailed filing. Detailed filing data is available for this year.$0.73$28.7$29.4$110$110$0.29
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.35$29.5$29.1$121$120$1.69
2015Detailed filing. Detailed filing data is available for this year.$0.66$30.2$30.8$126$120$6.51
2014Detailed filing. Detailed filing data is available for this year.$0.35$37.0$37.3$119$121$2.25
2013Detailed filing. Detailed filing data is available for this year.$1.20$36.3$35.1$107$96.8$9.94
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.45$45.5$45.0$91.1
2011Summary only. Only limited summary data is available for this year.$1.30$50.0$48.7$96.6$93.0$3.54
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.02$52.2$52.2$67.6
Peer Organizations

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