Prudential Voluntary Life Ins Tr FY2020 filing

Not tax-deductible

Newark, NJMutual-benefit / member-servingMutual/Membership EIN 81-6701557Revenue $29K in FY2020

On file with the IRS751 Broad Street 21st Floor, 07102-3754 · Newark, NJTax-exempt since Apr 2017

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The Prudential Voluntary Life Insurance Trust is intended to fund life insurance benefits payable to participants and their dependents in the Prudential Welfare Benefits Plan.

Mission: Form 990 Part I, line 1

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FY2020 · 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
2 of 5
filings with a surplus
Average deficit $1.5M a year · 25604% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
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 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$29K
Spent
$7.3M
Net assets
$87K
By yearFY2020–FY2024
Revenue
$29K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$29K
FY2021$13
FY2022$2
FY2023$4
FY2024$3
Expenses
$7.3M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$7.3M
FY2021$87K
FY2022$0
FY2023$0
FY2024$105
Net assets
$87K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$87K
FY2021$96
FY2022$98
FY2023$102
FY2024$0

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2017.

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

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
Member of the Investment Oversight Committee
$0Pt VII · Sec A
Member of the Investment Oversight Committee
$0Pt VII · Sec A
Member of the Investment Oversight Committee
$0Pt VII · Sec A
$0Pt VII · Sec A
See Prudential Voluntary Life Ins Tr executive salaries →

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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 life insurance benefits for participants and their dependents.

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1 program · in their own filed words · FY2020
01

Payments to insurance carriers for life insurance benefits payable for the benefit of participants and their dependents in the Prudential Retiree Welfare Benefits Plan.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$29K
Ln 12
Investment incomeLn 3$29K
Money outPt IX
$7.3M
Ln 25
Owns and owesPt X
$87K
net assets · Ln 32
Total assetsLn 16$87K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$29K
Total revenueLn 12$29K
Assets in detailPt X, end of year
InvestmentsLn 11–13$87K
Total assetsLn 16$87K
LiabilitiesLn 26$0
Net assetsLn 32$87K
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
InvestmentsLn 11–13$7.3M$87K
Total assetsLn 16$7.3M$87K
LiabilitiesLn 26$0$0
Net assetsLn 32$7.3M$87K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$7.3M
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
All other expensesLn 24e$0
Total functional expensesLn 25$7.3M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3$105−$102$0 990 PDF
FY2023 $4$0$4$102 990 PDF
FY2022 $2$0$2$98 990 PDF
FY2021 $13$87K−$87K$96 990 PDF
FY2020 Viewing $29K$7.3M−$7.3M$87K 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 FY2020 990 (6 parts)
Part I · Summary $28,643 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $154,092$28,643
I-11 Other revenue$0
I-12 Total revenuePrior year $154,092$28,643
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to membersPrior year $68,750$7,280,947
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$0
I-18 Total expensesPrior year $68,750$7,280,947
I-19 Revenue less expensesPrior year $85,342−$7,252,304
Part VI · Governance 0 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $28,643 across 2 lines filed
VIII-3 Investment incomeRelated to mission $28,643$28,643
VIII-12 Total revenueRelated to mission $28,643$28,643
Part IX · Statement of functional expenses $7,280,947 across 29 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$7,280,947
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24e All other expenses$0
IX-25 Total functional expenses$7,280,947
Part X · Balance sheet $87,084 assets, 5 lines filed
X-11 Publicly traded securitiesStart of year $7,339,388$87,084
X-16 Total assetsStart of year $7,339,388$87,084
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $7,339,388$87,084
X-33 Total liabilities and net assetsStart of year $7,339,388$87,084
Part XI · Reconciliation of net assets $87,084 net assets at year end
XI-1 Total revenue$28,643
XI-2 Total expenses$7,280,947
XI-3 Revenue less expenses−$7,252,304
XI-4 Net assets at start of year$7,339,388
XI-10 Net assets at end of year$87,084

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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