Civic Intelligence

Pacific Gas & Electric Long-Term Disability Trust for Union Empl

990 • Fiscal year 2016 • EIN 94-3226582

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 13, 2017

Organization ProfileN/A
C/O The Bnym PO Box 535007Pittsburgh, PA 15253-5007

(412) 236-7175

Siviq Scores

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

Liabilities / Assets

17th percentile

0.00x

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

2016 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2016

Liabilities / Revenue

17th percentile

0.00x

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

2016 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2016

Net Margin

76th percentile

14%

Higher net margin than 76% of similar nonprofits.

2016 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2016

Top Officer Pay

38th percentile

$4,852

Higher top officer pay than 38% of similar nonprofits.

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

2016 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2016

Asset Growth

60th percentile

7.0%

Faster asset growth than 60% of similar nonprofits.

2016 filings • 501(c)9 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Revenue Growth

25th percentile

-2.7%

Faster revenue growth than 25% of similar nonprofits.

2016 filings • 501(c)9 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$145,344,784

Up $9,457,613 (+7.0%) from 2015

Net Assets

Up

$145,344,784

Up $9,457,613 (+7.0%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin76th percentile

Revenue

Down

$40,412,827

Down $1,120,038 (-2.7%) from 2015

Expenses

Down

$34,765,578

Down $2,648,868 (-7.1%) from 2015

Net Income

Up

$5,647,249

Up $1,528,830 (+37%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth60th percentile

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

$150M$100M$50M$0Assets 2011: $149,587,255Liabilities 2011: $0Net Assets 2011: $149,587,2552011Assets 2012: $141,880,535Liabilities 2012: $0Net Assets 2012: $141,880,5352012Assets 2013: $127,446,267Liabilities 2013: $0Net Assets 2013: $127,446,2672013Assets 2014: $131,683,963Liabilities 2014: $0Net Assets 2014: $131,683,9632014Assets 2015: $135,887,171Liabilities 2015: $0Net Assets 2015: $135,887,1712015Assets 2016: $145,344,784Liabilities 2016: $0Net Assets 2016: $145,344,7842016Assets 2017: $144,721,246Liabilities 2017: $0Net Assets 2017: $144,721,2462017Assets 2018: $134,799,993Liabilities 2018: $0Net Assets 2018: $134,799,9932018Assets 2019: $140,863,728Liabilities 2019: $0Net Assets 2019: $140,863,7282019Assets 2020: $137,596,504Liabilities 2020: $0Net Assets 2020: $137,596,5042020Assets 2021: $104,999,954Liabilities 2021: $0Net Assets 2021: $104,999,9542021Assets 2022: $116,137,747Liabilities 2022: $0Net Assets 2022: $116,137,7472022Assets 2023: $141,626,589Liabilities 2023: $20,000,000Net Assets 2023: $121,626,5892023Assets 2024: $115,219,313Liabilities 2024: $330Net Assets 2024: $115,218,9832024

Highlighted filing

2016

Assets$145,344,784
Liabilities$0
Net Assets$145,344,784
Open 2016 Filing

Operations Trend

Revenue Growth25th percentile

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

$100M$50M$0-$50MRevenue 2011: $32,909,964Expenses 2011: $41,584,468Net Income 2011: -$8,674,5042011Expenses 2012: $38,271,1662012Revenue 2013: $25,829,930Expenses 2013: $39,214,967Net Income 2013: -$13,385,0372013Revenue 2014: $41,287,069Expenses 2014: $39,164,859Net Income 2014: $2,122,2102014Revenue 2015: $41,532,865Expenses 2015: $37,414,446Net Income 2015: $4,118,4192015Revenue 2016: $40,412,827Expenses 2016: $34,765,578Net Income 2016: $5,647,2492016Revenue 2017: $28,219,615Expenses 2017: $35,347,668Net Income 2017: -$7,128,0532017Revenue 2018: $28,301,381Expenses 2018: $35,688,042Net Income 2018: -$7,386,6612018Revenue 2019: $28,114,894Expenses 2019: $33,354,737Net Income 2019: -$5,239,8432019Revenue 2020: $23,658,412Expenses 2020: $34,012,694Net Income 2020: -$10,354,2822020Revenue 2021: $10,350,164Expenses 2021: $36,604,396Net Income 2021: -$26,254,2322021Revenue 2022: $64,426,525Expenses 2022: $34,817,215Net Income 2022: $29,609,3102022Revenue 2023: $29,596,444Expenses 2023: $30,203,890Net Income 2023: -$607,4462023Revenue 2024: $25,406,364Expenses 2024: $33,746,189Net Income 2024: -$8,339,8252024

Highlighted filing

2016

Revenue$40,412,827
Expenses$34,765,578
Net Income$5,647,249
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 13, 2017
Return Version
2016v3.1
Gross Receipts
$70,443,659
Mission and Program Overview

Mission

To provide long-term disability benefits to union employees.

Provision of welfare benefits to eligible members. Members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$135,887,171$145,344,784▲ $9,457,613
Investments in Publicly Traded Securities$129,879,654$138,864,793▲ $8,985,139
Savings and Temporary Cash Investments$6,006,364$6,479,989▲ $473,625
Accounts Receivable$1,151$0▼ $1,151
Cash and Non-Interest-Bearing Accounts$2$2→ $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
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$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$135,887,171$145,344,784▲ $9,457,613
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$135,887,171$145,344,784▲ $9,457,613
Total Liabilities and Net Assets / Fund Balance$135,887,171$145,344,784▲ $9,457,613
Compensation and Service Providers
Top Officer Pay38th percentile

Employees

NameTitleBaseTotal
The Bank of New York MellonTrustee (see Schedule O)$4,852$4,852

Highest Paid Contractors

ContractorServicesLocationCompensation
Anthem Blue CrossAdministration Fee120 Monument Circle, Indianapolis, IN 46204$249,116
MercerAdmin. & Consulting1166 Avenue of the Americas, New York, NY 10036$116,968
Kaiser Permanente Insurance CompanyAdministration Fee1 KAISER PLAZA, Oakland, CA 94612$107,953
Ltd Social Security AdvocacyAdmin. & Consulting-$106,850
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$39,421,564
Investment Income
$991,263
Other Revenue
$0
Change in Net Assets
$5,647,249
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,241,071
Salaries, Compensation, and Employee Benefits$4,852
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$33,519,655
Other Expenses---$948,560
Fees for Services Other---$192,495
Fees for Service Investment Mgmnt Fees---$84,266
Fees for Services Accounting---$15,750
Current Officers, Directors, Trustees, and Key Employees---$4,852
Total Functional Expenses$0$0$0$34,765,578
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 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 Lines 1A & B

“The bank of new york mellon serves as the sole directed trustee of this trust. The plan sponsor is pacific gas and electric (pg&e) corporation. The trust is administered by pg&e corporation in accordance with the terms of the trust agreement. As such the veba does not have a governing body that exercises discretion.”

Form 990 Part VI Sections A & B Lines 8, 12-15

“These questions are not applicable to the trust. Additionally, the trust does not have any employees, therefore, no processes related to employee compensation are in place.”

Form 990 Part VI Sections B Line 11B

“A complete electronic copy of the organization's form 990 was provided to the trustee for review prior to filing with the irs.”

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 bank of new york mellon provided administrative services such as acting as investment manager for pg&e long-term disability trust for union employees. These services required numerous individual bank employees' involvement in the activities of the organization and thus cannot be quantified on an hourly basis. Therefore, the trustee's fees are not based upon an hourly basis, but are calculated based upon factors such as the market value of the account and in accordance with the bank of new york mellon's agreement with pg&e corporation.”

Filing and Contact Details

Filer

Filer Name
Pacific Gas & Electric Long-Term Disability
EIN
94-3226582
In Care Of
% THE BANK OF NEW YORK MELLON
Phone
4122367175
Address
C/O THE BNYM PO BOX 535007, PITTSBURGH, PA 15253-5007

Signing Officer

Name
Brent Heintzelman
Title
VP, Bnym, as Trustee
Phone
4122367175
Signed
2017-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
The Bank of New York Mellon
Formed
1995
Legal Domicile
CA
Voting Board Members
1
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Ernst & Young US Llp
Address
2100 ONE PPG PLACE, PITTSBURGH, PA 15222
Preparer
Shawn Hoffmann
Phone
4126447800
Supplemental Narrative

Additional Explanations

Form 990 Part XII Line 1

“MODIFIED CASH BASIS”

Raw XML AppendixShowing 400 of 402 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BANK OF NEW YORK MELLON SERVES AS THE SOLE DIRECTED TRUSTEE OF THIS TRUST. THE PLAN SPONSOR IS PACIFIC GAS AND ELECTRIC (PG&E) CORPORATION. THE TRUST IS ADMINISTERED BY PG&E CORPORATION IN ACCORDANCE WITH THE TERMS OF THE TRUST AGREEMENT. AS SUCH THE VEBA DOES NOT HAVE A GOVERNING BODY THAT EXERCISES DISCRETION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THESE QUESTIONS ARE NOT APPLICABLE TO THE TRUST. ADDITIONALLY, THE TRUST DOES NOT HAVE ANY EMPLOYEES, THEREFORE, NO PROCESSES RELATED TO EMPLOYEE COMPENSATION ARE IN PLACE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COMPLETE ELECTRONIC COPY OF THE ORGANIZATION'S FORM 990 WAS PROVIDED TO THE TRUSTEE FOR REVIEW PRIOR TO FILING WITH THE IRS.
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 BANK OF NEW YORK MELLON PROVIDED ADMINISTRATIVE SERVICES SUCH AS ACTING AS INVESTMENT MANAGER FOR PG&E LONG-TERM DISABILITY TRUST FOR UNION EMPLOYEES. THESE SERVICES REQUIRED NUMEROUS INDIVIDUAL BANK EMPLOYEES' INVOLVEMENT IN THE ACTIVITIES OF THE ORGANIZATION AND THUS CANNOT BE QUANTIFIED ON AN HOURLY BASIS. THEREFORE, THE TRUSTEE'S FEES ARE NOT BASED UPON AN HOURLY BASIS, BUT ARE CALCULATED BASED UPON FACTORS SUCH AS THE MARKET VALUE OF THE ACCOUNT AND IN ACCORDANCE WITH THE BANK OF NEW YORK MELLON'S AGREEMENT WITH PG&E CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5MODIFIED CASH BASIS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 PART VI SECTION A LINES 1A & B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 PART VI SECTIONS A & B LINES 8, 12-15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990 PART VI SECTIONS 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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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct00.00000
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0Utility Services
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0PG&E CORPORATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfEOYAssetsAmt00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfTotalIncomeAmt00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0ONE MARKET SPEAR TOWER STE 2400
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0SAN FRANCISCO
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ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRENT HEINTZELMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VP, BNYM, AS TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum04122367175
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Pacific Gas & Electric Long-Term Disability
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0Trust For Union Empl
ReturnHeader/Filer/BusinessNameControlTxt0PACI
ReturnHeader/Filer/EIN0943226582
ReturnHeader/Filer/InCareOfNm0% THE BANK OF NEW YORK MELLON
ReturnHeader/Filer/PhoneNum04122367175
ReturnHeader/Filer/USAddress/AddressLine1Txt0C/O THE BNYM PO BOX 535007
ReturnHeader/Filer/USAddress/CityNm0PITTSBURGH
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ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId08CBFF85A9FEE20D4AA76175B08418E5C9805F127
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId025553720173195000002
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02017-11-15
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0164.57.159.254
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ERNST & YOUNG US LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02100 ONE PPG PLACE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PITTSBURGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd015222
ReturnHeader/PreparerPersonGrp/PhoneNum04126447800
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Shawn Hoffmann
ReturnHeader/ReturnTs02017-11-15T09:18:55-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01

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
$145,344,784
Liabilities
$0
Net assets
$145,344,784
Revenue
$40,412,827
Expenses
$34,765,578
Net income
$5,647,249
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$115$0.00$115$25.4$33.7$8.34
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$142$20.0$122$29.6$30.2$0.61
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$116$0.00$116$64.4$34.8$29.6
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$105$0.00$105$10.4$36.6$26.3
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$138$0.00$138$23.7$34.0$10.4
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$141$0.00$141$28.1$33.4$5.24
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$135$0.00$135$28.3$35.7$7.39
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$145$0.00$145$28.2$35.3$7.13
2016Detailed filing. Detailed filing data is available for this year.$145$0.00$145$40.4$34.8$5.65
2015Detailed filing. Detailed filing data is available for this year.$136$0.00$136$41.5$37.4$4.12
2014Detailed filing. Detailed filing data is available for this year.$132$0.00$132$41.3$39.2$2.12
2013Detailed filing. Detailed filing data is available for this year.$127$0.00$127$25.8$39.2$13.4
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$142$0.00$142$38.3
2011Summary only. Only limited summary data is available for this year.$150$0.00$150$32.9$41.6$8.67