Ati-Usw Veba Trust

Not tax-deductible

Pittsburgh, PAMutual-benefit / member-servingSince 2010Mutual/MembershipEIN 27-1404121Revenue $41.3M in FY2024

On file with the IRS60 Blvd of the Allies 5th FL, 15222-1209 · Pittsburgh, PATax-exempt since Feb 2014

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Provision of retiree health and other welfare benefits to plan participants.

$42K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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
5 of 5
filings with a surplus
Average surplus $10.9M a year · 26% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$42K
to officers and key staff · 0.2% of spending
Top officer’s pay lower than 72% of similar orgs
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
16 mo
of spending, in cash
Looks good: 15.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$161K
0.1% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$41.3M
+5% vs prior year
Spent
$22.6M
Net assets
$112.4M
By yearFY2020–FY2024
Revenue
$41.3M
FY2024▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$44.0M
FY2021$41.0M
FY2022$42.1M
FY2023$39.3M
FY2024$41.3M
Expenses
$22.6M
FY2024▼ -15%
Tap a bar for its year
Expenses by fiscal year
FY2020$34.2M
FY2021$30.7M
FY2022$39.2M
FY2023$26.5M
FY2024$22.6M
Net assets
$112.4M
FY2024▲ +24%
Tap a bar for its year
Net assets by fiscal year
FY2020$64.5M
FY2021$78.6M
FY2022$72.4M
FY2023$90.7M
FY2024$112.4M

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

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2014.

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

Who runs it and what they're paid

5 people listed on the 990; $42K paid to officers and key staff.

Part VII, Section A · reportable compensation
$29,739Pt VII · Sec A
Chair, Veba Committee
$12,000Pt VII · Sec A
Veba Committee
$0Pt VII · Sec A
Veba Committee
$0Pt VII · Sec A
Veba Committee
$0Pt VII · Sec A

PNC Bank National Association’s $30K as Trustee is at the 28th percentile of top reported officer pay among 163 $10–100M mutual/membership nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
PNC Bank National Association$29,739$23,006$27,086$9,591$15,257
Jeanette Stump$12,000$12,000$12,000$12,000$12,000

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 health and welfare benefits to retired plan participants.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

Provision of retiree health and other welfare benefits to eligible participants.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$41.3M
Ln 12
Fees for servicesLn 2g$36.0M
Investment incomeLn 3$5.3M
Other incomeLn 4–11$3K
Money outPt IX
$22.6M
Ln 25
Owns and owesPt X
$112.4M
net assets · Ln 32
Cash and savingsLn 1–2$29.7M
Total assetsLn 16$112.6M
LiabilitiesLn 26$161K
PeoplePt VI, VII
5
listed · VII A
PaidVII A2
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$36.0M
Investment incomeLn 3$5.3M
Other incomeLn 4–11$3K
Gains on assetsLn 7$994K
Total revenueLn 12$41.3M
Assets in detailPt X, end of year
CashLn 1$3.9M
SavingsLn 2$25.8M
Cash and savings togetherLn 1–2$29.7M
InvestmentsLn 11–13$78.7M
Total assetsLn 16$112.6M
LiabilitiesLn 26$161K
Net assetsLn 32$112.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$27.7M$29.7M
InvestmentsLn 11–13$61.4M$78.7M
Total assetsLn 16$92.2M$112.6M
LiabilitiesLn 26$1.5M$161K
Net assetsLn 32$90.7M$112.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$22.0M
Pay of current officers, directors and key staffLn 5$42K
Management feesLn 11a$175K
Legal feesLn 11b$8K
Accounting feesLn 11c$97K
Investment management feesLn 11f$176K
Other fees for servicesLn 11g$53K
Office expensesLn 13$26K
Conferences, conventions and meetingsLn 19$886
Other expenses (24a–d)Ln 24$24K
Total functional expensesLn 25$22.6M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $41.3M$22.6M$18.7M$112.4M 990 PDF
FY2023 $39.3M$26.5M$12.9M$90.7M 990 PDF
FY2022 $42.1M$39.2M$2.8M$72.4M 990 PDF
FY2021 $41.0M$30.7M$10.3M$78.6M 990 PDF
FY2020 $44.0M$34.2M$9.8M$64.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $41,280,644 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $36,397,332$35,964,070
I-10 Investment incomePrior year $2,937,504$5,313,164
I-11 Other revenuePrior year $0$3,410
I-12 Total revenuePrior year $39,334,836$41,280,644
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $25,904,075$21,966,055
I-15 Salaries and benefitsPrior year $35,006$41,739
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $527,419$560,630
I-18 Total expensesPrior year $26,466,500$22,568,424
I-19 Revenue less expensesPrior year $12,868,336$18,712,220
Part VI · Governance 4 of 4 board members independent, 3 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $41,280,644 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $35,964,070$35,964,070
VIII-3 Investment incomeExcluded from tax $4,318,719$4,318,719
VIII-7 Net gain or loss on sales of assetsExcluded from tax $994,445$994,445
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,410$3,410
VIII-12 Total revenueRelated to mission $35,967,480 · Unrelated business $0 · Excluded from tax $5,313,164$41,280,644
Part IX · Statement of functional expenses $22,568,424 across 10 lines filed
IX-4 Benefits paid to or for members$21,966,055
IX-5 Pay of current officers, directors and key staff$41,739
IX-11a Management fees$175,157
IX-11b Legal fees$8,339
IX-11c Accounting fees$96,705
IX-11f Investment management fees$175,802
IX-11g Other fees for services$53,383
IX-13 Office expenses$26,358
IX-19 Conferences, conventions and meetings$886
IX-24 Other expenses (24a–d)$24,000
IX-25 Total functional expenses$22,568,424
Part X · Balance sheet $112,602,704 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $4,975,786$3,943,772
X-2 Savings and temporary cash investmentsStart of year $22,732,379$25,804,232
X-4 Accounts receivableStart of year $3,114,094$4,176,909
X-9 Prepaid expenses and deferred chargesStart of year $9,309$11,537
X-11 Publicly traded securitiesStart of year $61,413,957$78,666,254
X-16 Total assetsStart of year $92,245,525$112,602,704
X-17 Accounts payable and accrued expensesStart of year $1,543,662$160,640
X-26 Total liabilitiesStart of year $1,543,662$160,640
X-32 Total net assets or fund balancesStart of year $90,701,863$112,442,064
X-33 Total liabilities and net assetsStart of year $92,245,525$112,602,704
Part XI · Reconciliation of net assets $112,442,064 net assets at year end
XI-1 Total revenue$41,280,644
XI-2 Total expenses$22,568,424
XI-3 Revenue less expenses$18,712,220
XI-4 Net assets at start of year$90,701,863
XI-5 Net unrealized gains (losses) on investments$2,693,863
XI-8 Prior period adjustments$334,118
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$112,442,064

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

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