Civic Intelligence

Applied Materials Short-Term Disability Disability Benefit Plan

990 • Fiscal year 2023 • EIN 77-0529495

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 10, 2024

Organization ProfileWWW.APPLIEDMATERIALS.COM
PO Box 58039Santa Clara, CA 95054

(408) 727-5555

Siviq Scores

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

Liabilities / Assets

71st percentile

0.09x

Higher debt load relative to assets than 71% of similar nonprofits.

2023 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

59th percentile

0.02x

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

2023 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2023

Net Margin

16th percentile

-16%

Higher net margin than 16% of similar nonprofits.

2023 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

53rd percentile

$0

Higher top officer pay than 53% of similar nonprofits.

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

2023 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2023

Asset Growth

6th percentile

-35%

Faster asset growth than 6% of similar nonprofits.

2023 filings • 501(c)9 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

87th percentile

51%

Faster revenue growth than 87% of similar nonprofits.

2023 filings • 501(c)9 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets71st percentile

Assets

Flat

$680,410

Flat from 2023

Net Assets

Flat

$620,520

Flat from 2023

Liabilities

Flat

$59,890

Flat from 2023

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin16th percentile

Revenue

Flat

$2,572,596

Flat from 2023

Expenses

Flat

$2,984,755

Flat from 2023

Net Income

Flat

-$412,159

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $675,735Liabilities 2010: $274,360Net Assets 2010: $401,3752010Assets 2011: $1,274,995Liabilities 2011: $913,649Net Assets 2011: $361,3462011Assets 2012: $639,425Liabilities 2012: $264,797Net Assets 2012: $374,6282012Assets 2013: $857,867Liabilities 2013: $300,796Net Assets 2013: $557,0712013Assets 2014: $1,396,124Liabilities 2014: $268,745Net Assets 2014: $1,127,3792014Assets 2015: $1,731,402Liabilities 2015: $319,364Net Assets 2015: $1,412,0382015Assets 2016: $1,627,572Liabilities 2016: $564,047Net Assets 2016: $1,063,5252016Assets 2017: $1,810,264Liabilities 2017: $384,955Net Assets 2017: $1,425,3092017Assets 2018: $1,898,740Liabilities 2018: $434,890Net Assets 2018: $1,463,8502018Assets 2019: $1,808,715Liabilities 2019: $475,492Net Assets 2019: $1,333,2232019Assets 2020: $1,878,333Liabilities 2020: $442,251Net Assets 2020: $1,436,0822020Assets 2021: $1,390,804Liabilities 2021: $418,438Net Assets 2021: $972,3662021Assets 2022: $1,040,455Liabilities 2022: $628,008Net Assets 2022: $412,4472022Assets 2023: $680,410Liabilities 2023: $59,890Net Assets 2023: $620,5202023Assets 2023: $680,410Liabilities 2023: $59,890Net Assets 2023: $620,5202023Assets 2024: $1,419,776Liabilities 2024: $19,735Net Assets 2024: $1,400,0412024

Highlighted filing

2023

Assets$680,410
Liabilities$59,890
Net Assets$620,520
Open 2023 Filing

Operations Trend

Revenue Growth87th percentile

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

$4.0M$2.0M$0-$2.0MExpenses 2010: $729,3362010Revenue 2011: $821,532Expenses 2011: $809,879Net Income 2011: $11,6532011Revenue 2012: $804,781Expenses 2012: $827,090Net Income 2012: -$22,3092012Revenue 2013: $1,206,808Expenses 2013: $1,029,156Net Income 2013: $177,6522013Revenue 2014: $1,466,976Expenses 2014: $741,285Net Income 2014: $725,6912014Revenue 2015: $1,416,591Expenses 2015: $1,104,443Net Income 2015: $312,1482015Revenue 2016: $1,074,411Expenses 2016: $1,165,921Net Income 2016: -$91,5102016Revenue 2017: $1,172,638Expenses 2017: $1,009,037Net Income 2017: $163,6012017Revenue 2018: $1,261,544Expenses 2018: $1,176,028Net Income 2018: $85,5162018Revenue 2019: $1,211,029Expenses 2019: $1,297,473Net Income 2019: -$86,4442019Revenue 2020: $1,332,688Expenses 2020: $1,254,228Net Income 2020: $78,4602020Revenue 2021: $1,228,316Expenses 2021: $1,681,488Net Income 2021: -$453,1722021Revenue 2022: $1,698,089Expenses 2022: $2,056,214Net Income 2022: -$358,1252022Revenue 2023: $2,572,596Expenses 2023: $2,984,755Net Income 2023: -$412,1592023Revenue 2023: $2,572,596Expenses 2023: $2,984,755Net Income 2023: -$412,1592023Revenue 2024: $3,951,807Expenses 2024: $3,172,286Net Income 2024: $779,5212024

Highlighted filing

2023

Revenue$2,572,596
Expenses$2,984,755
Net Income-$412,159
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 10, 2024
Return Version
2023v5.1
Gross Receipts
$2,572,596
Mission and Program Overview

Mission

Payout and management of short term disability benefits plan. Eligible employees who elect to participate receive a partial wage replacement of lost wages as a result of a temporary inability to perform their essential job functions.

Short term disability benefits plan

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,040,455$677,278▼ $363,177
Rtn Earn Endowment Incm Other Fnds$412,447$620,520▲ $208,073
Accounts Receivable$0$3,132▲ $3,132
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,040,455$680,410▼ $360,045
Liabilities
Other Liabilities$0$30,956▲ $30,956
Accounts Payable and Accrued Expenses$628,008$28,934▼ $599,074
Total Liabilities$628,008$59,890▼ $568,118
Net Assets / Fund Balance
Total Net Assets Fund Balance$412,447$620,520▲ $208,073
Total Liabilities and Net Assets / Fund Balance$1,040,455$680,410▼ $360,045
Compensation and Service Providers
Top Officer Pay53rd percentile

Board Members and Trustees

NameTitle
-Trustee

Highest Paid Contractors

ContractorServicesLocationCompensation
Sedgwick CmsContract Administrator8125 SEDGWICK WAY, Memphis, TN 38125$238,778
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,523,443
Investment Income
$49,153
Other Revenue
$0
Change in Net Assets
$-412,159

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,572,596
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,572,596
Total Revenue per Form 990
$2,572,596
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$281,506
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---$2,703,249
Fees for Services Other---$238,778
Fees for Services Accounting---$42,728
Total Functional Expenses$0$0$0$2,984,755

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,984,755
Total Expenses per Audited Statements$2,984,755
Total Expenses per Form 990$2,984,755
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
Bank Overdraft Fees$30,956
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The trustee delegates administration and oversight of the disability plan to the human resources and compensation committee of applied materials, inc., which reports to the trustee periodically.”

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

“The form 990 is prepared by a third party accountant and reviewed by the benefits department with the assistance of the legal department.”

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

“Applied materials, inc. Is committed to upholding the highest legal and ethical conduct in fulfilling its responsibilities. The board expects applied's directors, officers, and all other members of its workforce to act ethically at all times and to certify annually their commitment to the policies and requirements set forth in applied's standards of business conduct. The board, with the assistance of the audit committee, oversees the company's ethics program, which presently includes the company's standards of business conduct, an ombudsman responsible for receiving and investigating complaints, and a 24-hour global toll-free hotline. Directors may not serve on the board of directors of any other company without obtaining prior approval from the corporate governance and nomination committee of applied's board of directors. If a director becomes involved in activities that conflict or appear to conflict with the interests of the company and these activities result in an actual or potential conflict of interest, the director is required to disclose such conflict promptly to the board. The board will determine an appropriate resolution on a case-by-case basis. All directors will recuse themselves from any discussion or decision affecting their personal, business, or professional interests. The board will resolve any conflict of interest question involving the ceo, and the ceo will resolve any conflict of interest issue involving any other officer of the company.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Applied Materials Short-term
EIN
77-0529495
Phone
4087275555
Address
PO BOX 58039, SANTA CLARA, CA 95054

Signing Officer

Name
Cynthia Radovich
Title
Managing Director, Global Benefits
Phone
4087275555
Signed
2024-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cynthia Radovich
Formed
2001
Legal Domicile
CA
Voting Board Members
1
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Moss Adams Llp
Address
2882 PROSPECT PARK DR STE 300, RANCHO CORDOVA, CA 95670
Preparer
Tracy S Paglia
Phone
9165038100
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“In accordance with guidance on accounting for uncertainty in income taxes, the plan administrator has evaluated the plan's tax positions and does not believe the plan has any uncertain tax positions that require disclosure or adjustment to 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 Appendix297 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/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt02572596
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IN ACCORDANCE WITH GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, THE PLAN ADMINISTRATOR HAS EVALUATED THE PLAN'S TAX POSITIONS AND DOES NOT BELIEVE THE PLAN HAS ANY UNCERTAIN TAX POSITIONS THAT REQUIRE DISCLOSURE OR ADJUSTMENT TO 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 DELEGATES ADMINISTRATION AND OVERSIGHT OF THE DISABILITY PLAN TO THE HUMAN RESOURCES AND COMPENSATION COMMITTEE OF APPLIED MATERIALS, INC., WHICH REPORTS TO THE TRUSTEE PERIODICALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PREPARED BY A THIRD PARTY ACCOUNTANT AND REVIEWED BY THE BENEFITS DEPARTMENT WITH THE ASSISTANCE OF THE LEGAL DEPARTMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2APPLIED MATERIALS, INC. IS COMMITTED TO UPHOLDING THE HIGHEST LEGAL AND ETHICAL CONDUCT IN FULFILLING ITS RESPONSIBILITIES. THE BOARD EXPECTS APPLIED'S DIRECTORS, OFFICERS, AND ALL OTHER MEMBERS OF ITS WORKFORCE TO ACT ETHICALLY AT ALL TIMES AND TO CERTIFY ANNUALLY THEIR COMMITMENT TO THE POLICIES AND REQUIREMENTS SET FORTH IN APPLIED'S STANDARDS OF BUSINESS CONDUCT. THE BOARD, WITH THE ASSISTANCE OF THE AUDIT COMMITTEE, OVERSEES THE COMPANY'S ETHICS PROGRAM, WHICH PRESENTLY INCLUDES THE COMPANY'S STANDARDS OF BUSINESS CONDUCT, AN OMBUDSMAN RESPONSIBLE FOR RECEIVING AND INVESTIGATING COMPLAINTS, AND A 24-HOUR GLOBAL TOLL-FREE HOTLINE. DIRECTORS MAY NOT SERVE ON THE BOARD OF DIRECTORS OF ANY OTHER COMPANY WITHOUT OBTAINING PRIOR APPROVAL FROM THE CORPORATE GOVERNANCE AND NOMINATION COMMITTEE OF APPLIED'S BOARD OF DIRECTORS. IF A DIRECTOR BECOMES INVOLVED IN ACTIVITIES THAT CONFLICT OR APPEAR TO CONFLICT WITH THE INTERESTS OF THE COMPANY AND THESE ACTIVITIES RESULT IN AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST, THE DIRECTOR IS REQUIRED TO DISCLOSE SUCH CONFLICT PROMPTLY TO THE BOARD. THE BOARD WILL DETERMINE AN APPROPRIATE RESOLUTION ON A CASE-BY-CASE BASIS. ALL DIRECTORS WILL RECUSE THEMSELVES FROM ANY DISCUSSION OR DECISION AFFECTING THEIR PERSONAL, BUSINESS, OR PROFESSIONAL INTERESTS. THE BOARD WILL RESOLVE ANY CONFLICT OF INTEREST QUESTION INVOLVING THE CEO, AND THE CEO WILL RESOLVE ANY CONFLICT OF INTEREST ISSUE INVOLVING ANY OTHER OFFICER OF THE COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
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
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ReturnHeader/ReturnTs02024-11-12T15:52:11-06:00
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ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$680,410
Liabilities
$59,890
Net assets
$620,520
Revenue
$2,572,596
Expenses
$2,984,755
Net income
-$412,159
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.42$0.02$1.40$3.95$3.17$0.78
2023Detailed filing. Detailed filing data is available for this year.$0.68$0.06$0.62$2.57$2.98$0.41
2023Summary only. Only limited summary data is available for this year.$0.68$0.06$0.62$2.57$2.98$0.41
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.04$0.63$0.41$1.70$2.06$0.36
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.39$0.42$0.97$1.23$1.68$0.45
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.88$0.44$1.44$1.33$1.25$0.08
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.81$0.48$1.33$1.21$1.30$0.09
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.90$0.43$1.46$1.26$1.18$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.81$0.38$1.43$1.17$1.01$0.16
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.63$0.56$1.06$1.07$1.17$0.09
2015Detailed filing. Detailed filing data is available for this year.$1.73$0.32$1.41$1.42$1.10$0.31
2014Detailed filing. Detailed filing data is available for this year.$1.40$0.27$1.13$1.47$0.74$0.73
2013Detailed filing. Detailed filing data is available for this year.$0.86$0.30$0.56$1.21$1.03$0.18
2012Summary only. Only limited summary data is available for this year.$0.64$0.26$0.37$0.80$0.83$0.02
2011Summary only. Only limited summary data is available for this year.$1.27$0.91$0.36$0.82$0.81$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.68$0.27$0.40$0.73