Civic Intelligence

Utc Welfare Benefits Plan

EIN 81-6483011 • 501(c)9 • Farmington, CT

Profile

A voluntary employee benficiary association that provides benefits to eligible employees and their dependents.

4 Farm SpringsFarmington, CT 06032

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)9 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

21st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)9 • $25M-$50M nonprofits • Source year 2024

Net Margin

3rd percentile

-92%

Higher net margin than 3% of similar nonprofits.

501(c)9 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

52nd percentile

$10,007

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

501(c)9 • $25M-$50M nonprofits • Source year 2024

Asset Growth

5th percentile

-70%

Faster asset growth than 5% of similar nonprofits.

501(c)9 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

3rd percentile

-52%

Faster revenue growth than 3% of similar nonprofits.

501(c)9 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Down

$5,440,885

Down $12,575,769 (-70%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Down

$5,440,885

Down $12,575,769 (-70%) from 2023

Revenue

Down

$13,734,372

Down $14,726,591 (-52%) from 2023

Expenses

Up

$26,310,141

Up $1,405,505 (+5.6%) from 2023

Net Income

Down

-$12,575,769

Down $16,132,096 (-454%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0Assets 2016: $6,223,730Liabilities 2016: $0Net Assets 2016: $6,223,7302016Assets 2017: $5,963,667Liabilities 2017: $0Net Assets 2017: $5,963,6672017Assets 2018: $6,570,357Liabilities 2018: $0Net Assets 2018: $6,570,3572018Assets 2019: $7,187,071Liabilities 2019: $0Net Assets 2019: $7,187,0712019Assets 2020: $7,392,014Liabilities 2020: $0Net Assets 2020: $7,392,0142020Assets 2021: $7,729,642Liabilities 2021: $0Net Assets 2021: $7,729,6422021Assets 2022: $14,460,327Liabilities 2022: $0Net Assets 2022: $14,460,3272022Assets 2023: $18,016,654Liabilities 2023: $0Net Assets 2023: $18,016,6542023Assets 2024: $5,440,885Liabilities 2024: $0Net Assets 2024: $5,440,8852024

Highlighted filing

2024

Assets$5,440,885
Liabilities$0
Net Assets$5,440,885

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$40M$20M$0-$20MRevenue 2016: $6,910,732Expenses 2016: $6,202,677Net Income 2016: $708,0552016Revenue 2017: $9,961,632Expenses 2017: $10,221,114Net Income 2017: -$259,4822017Revenue 2018: $10,158,020Expenses 2018: $9,551,330Net Income 2018: $606,6902018Revenue 2019: $13,806,110Expenses 2019: $13,189,396Net Income 2019: $616,7142019Revenue 2020: $11,470,983Expenses 2020: $11,266,040Net Income 2020: $204,9432020Revenue 2021: $8,473,870Expenses 2021: $8,136,242Net Income 2021: $337,6282021Revenue 2022: $25,679,808Expenses 2022: $18,949,122Net Income 2022: $6,730,6862022Revenue 2023: $28,460,963Expenses 2023: $24,904,636Net Income 2023: $3,556,3272023Revenue 2024: $13,734,372Expenses 2024: $26,310,141Net Income 2024: -$12,575,7692024

Highlighted filing

2024

Revenue$13,734,372
Expenses$26,310,141
Net Income-$12,575,769

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$36,448,843
Mission and Program Overview

Mission

A voluntary employee benficiary association that provides benefits to eligible employees and their dependents.

A voluntary employee beneficiary association that provides benefits to eligible employees and their dependents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$18,016,654$5,440,885▼ $12,575,769
Rtn Earn Endowment Incm Other Fnds$18,016,654$5,440,885▼ $12,575,769
Cash and Non-Interest-Bearing Accounts$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$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$18,016,654$5,440,885▼ $12,575,769
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$18,016,654$5,440,885▼ $12,575,769
Total Liabilities and Net Assets / Fund Balance$18,016,654$5,440,885▼ $12,575,769
Compensation and Service Providers

Employees

NameTitleBaseTotal
United BankTrustee$10,007$10,007
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$12,953,624
Investment Income
$780,748
Other Revenue
$0
Change in Net Assets
$-12,575,769
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$324,846
Salaries, Compensation, and Employee Benefits$10,007
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$25,975,288
Other Expenses---$310,533
Fees for Services Accounting---$13,800
Current Officers, Directors, Trustees, and Key Employees---$10,007
Fees for Services Other---$513
Total Functional Expenses$0$0$0$26,310,141
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$0→ $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
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Lines 1A & B

The united bank serves as the sole directed trustee of utc welfare benefits plan. The plan sponsor is rtx corporation. The trust is administered by the plan sponsor in accordance with the terms of the trust agreement. As such, the paic is the governing body.

Form 990, Part VI, Section A, Line 9

The united bank, the institutional trustee, is located at 420 griffin street zebulon, ga 30295.

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

An independent accountant prepares the form 990. After completion and before filing the return, others at the sponsor who are responsible for the administration of the trust will review the form for any discrepancies.

Form 990, Part VI, Section C, Line 19

As a 501(c)(9) organization, the trust is not required to make the documents referenced in question 19 available to the general public.

Form 990, Part VII, Section A, Line 1A Column (B)

Average hours per week devoted to position: as trustee, the united bank provides administrative services such as acting as investment manager for utc welfare benefits plan. These services require numerous individual bank employees' involvement in the activities of the organization and thus cannot be quantified on an hourly basis. Therefore,the trustee fees are based upon factors such as the market value of the account and in accordance with united bank's agreement with utc welfare benefits plan.

Filing and Contact Details

Filer

Filer Name
UTC Welfare Benefits Plan
EIN
81-6483011
In Care Of
% KELLY B LAPPIN
Phone
7817906895
Address
4 FARM SPRINGS, FARMINGTON, CT 06032

Signing Officer

Name
Kelly B Lappin
Title
Executive Director
Phone
7817906895
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kelly B Lappin
Formed
1996
Legal Domicile
Ct
Voting Board Members
0
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Ernst & Young US Llp
Address
55 IVAN ALLEN JR BOULEVARD, ATLANTA, GA 30308
Preparer
Tanya G Gainsford
Phone
4048748300
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 1

Plan is included in the accrual based audited financial statements of the rtx employees health and welfare plan.

Raw XML Appendix361 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/GrantsToIndividualsInd0false
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IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt022714471
IRS990/GrossReceiptsAmt036448843
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IRS990/IndependentVotingMemberCnt00
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IRS990/IndoorTanningServicesInd0false
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE UNITED BANK SERVES AS THE SOLE DIRECTED TRUSTEE OF UTC WELFARE BENEFITS PLAN. THE PLAN SPONSOR IS RTX CORPORATION. THE TRUST IS ADMINISTERED BY THE PLAN SPONSOR IN ACCORDANCE WITH THE TERMS OF THE TRUST AGREEMENT. AS SUCH, THE PAIC IS THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE UNITED BANK, THE INSTITUTIONAL TRUSTEE, IS LOCATED AT 420 GRIFFIN STREET ZEBULON, GA 30295.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AN INDEPENDENT ACCOUNTANT PREPARES THE FORM 990. AFTER COMPLETION AND BEFORE FILING THE RETURN, OTHERS AT THE SPONSOR WHO ARE RESPONSIBLE FOR THE ADMINISTRATION OF THE TRUST WILL REVIEW THE FORM FOR ANY DISCREPANCIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AS A 501(C)(9) ORGANIZATION, THE TRUST IS NOT REQUIRED TO MAKE THE DOCUMENTS REFERENCED IN QUESTION 19 AVAILABLE TO THE GENERAL PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AVERAGE HOURS PER WEEK DEVOTED TO POSITION: AS TRUSTEE, THE UNITED BANK PROVIDES ADMINISTRATIVE SERVICES SUCH AS ACTING AS INVESTMENT MANAGER FOR UTC WELFARE BENEFITS PLAN. THESE SERVICES REQUIRE NUMEROUS INDIVIDUAL BANK EMPLOYEES' INVOLVEMENT IN THE ACTIVITIES OF THE ORGANIZATION AND THUS CANNOT BE QUANTIFIED ON AN HOURLY BASIS. THEREFORE,THE TRUSTEE FEES ARE BASED UPON FACTORS SUCH AS THE MARKET VALUE OF THE ACCOUNT AND IN ACCORDANCE WITH UNITED BANK'S AGREEMENT WITH UTC WELFARE BENEFITS PLAN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PLAN IS INCLUDED IN THE ACCRUAL BASED AUDITED FINANCIAL STATEMENTS OF THE RTX EMPLOYEES HEALTH AND WELFARE PLAN.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINES 1A & B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VII, SECTION A, LINE 1A COLUMN (B)
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 1
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/ReturnTs02025-11-17T17:34:10-06:00
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ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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