Colgate Palmolive Post Retirement Veba Tr

Not tax-deductible

New York, NYMutual-benefit / member-servingSince 1993Mutual / membership EIN 13-6972051Revenue $6.3M in FY2024

On file with the IRS300 Park Avenue, 10022-7402 · New York, NYTax-exempt since May 1993

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The primary exempt purpose of the Colgate-Veba trust is to provide Post Retirement benefits to eligible participants.

99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average deficit $1.1M a year · 16% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 1 voting members
Concern: none of 1 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.3M
-10% vs prior year
Spent
$5.8M
To programs
99%
Net assets
$1.5M
By yearFY2020–FY2024
Revenue
$6.3M
FY2024▼ -10%
Tap a bar for its year
Revenue by fiscal year
FY2020$7.2M
FY2021$6.6M
FY2022$7.0M
FY2023$7.0M
FY2024$6.3M
Expenses
$5.8M
FY2024▼ -55%
Tap a bar for its year
Expenses by fiscal year
FY2020$268K
FY2021$18.6M
FY2022$2.2M
FY2023$12.8M
FY2024$5.8M
Net assets
$1.5M
FY2024▲ +47%
Tap a bar for its year
Net assets by fiscal year
FY2020$14.0M
FY2021$2.0M
FY2022$6.8M
FY2023$1.0M
FY2024$1.5M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1993.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $5.7M Management & general 1% · $62K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2023FY2022FY2021FY2020
Jpmorgan Chase Bank NA$5,000$1,250$5,000$7,500

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides retirement benefits to eligible former employees.

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Provided by the organization

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1 program · $5.7M · in their own filed words · FY2024
01

Payment of post-retirement benefits to eligible members.

$5.7Mprogram expense

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$6.3M
Ln 12
Fees for servicesLn 2g$6.1M
Investment incomeLn 3$175K
Money outPt IX
$5.8M
Ln 25
Programscol B$5.7M
Managementcol C$62K
Owns and owesPt X
$1.5M
net assets · Ln 32
Total assetsLn 16$1.5M
LiabilitiesLn 26$0
PeoplePt VI, VII
1
listed · VII A
PaidVII A0
Voting boardVI 1a1
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$6.1M
Investment incomeLn 3$175K
Total revenueLn 12$6.3M
Assets in detailPt X, end of year
InvestmentsLn 11–13$1.5M
Total assetsLn 16$1.5M
LiabilitiesLn 26$0
Net assetsLn 32$1.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
InvestmentsLn 11–13$1.0M$1.5M
Total assetsLn 16$1.0M$1.5M
LiabilitiesLn 26$0$0
Net assetsLn 32$1.0M$1.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$5.7M$5.7M
Investment management feesLn 11f$3K$3K
Other expenses (24a–d)Ln 24$59K$59K
Total functional expensesLn 25$5.8M$5.7M$62K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $6.3M$5.8M$490K$1.5M 990 PDF
FY2023 $7.0M$12.8M−$5.8M$1.0M 990 PDF
FY2022 $7.0M$2.2M$4.8M$6.8M 990 PDF
FY2021 $6.6M$18.6M−$12.0M$2.0M 990 PDF
FY2020 $7.2M$268K$6.9M$14.0M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $6,295,053 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $6,726,202$6,119,670
I-10 Investment incomePrior year $300,940$175,383
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $7,027,142$6,295,053
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $12,758,052$5,743,016
I-15 Salaries and benefitsPrior year $5,000$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $28,300$62,018
I-18 Total expensesPrior year $12,791,352$5,805,034
I-19 Revenue less expensesPrior year −$5,764,210$490,019
Part VI · Governance 0 of 1 board members independent, 4 to look at
VI-1a Voting members of the governing body1
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $6,295,053 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,119,670$6,119,670
VIII-3 Investment incomeExcluded from tax $175,383$175,383
VIII-12 Total revenueRelated to mission $6,119,670 · Unrelated business $0 · Excluded from tax $175,383$6,295,053
Part IX · Statement of functional expenses $5,805,034 across 3 lines filed
IX-4 Benefits paid to or for membersPrograms $5,743,016$5,743,016
IX-11f Investment management feesManagement $3,129$3,129
IX-24 Other expenses (24a–d)Management $58,889$58,889
IX-25 Total functional expensesPrograms $5,743,016 · Management $62,018 · Fundraising $0$5,805,034
Part X · Balance sheet $1,525,333 assets, 6 lines filed
X-4 Accounts receivableStart of year $3,956$5,245
X-12 Other securitiesStart of year $1,031,358$1,520,088
X-16 Total assetsStart of year $1,035,314$1,525,333
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $1,035,314$1,525,333
X-33 Total liabilities and net assetsStart of year $1,035,314$1,525,333
Part XI · Reconciliation of net assets $1,525,333 net assets at year end
XI-1 Total revenue$6,295,053
XI-2 Total expenses$5,805,034
XI-3 Revenue less expenses$490,019
XI-4 Net assets at start of year$1,035,314
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,525,333

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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