Factory Mutual Insurance Company Postretirement Welfare Program

Organization Overview

Factory Mutual Insurance Company Postretirement Welfare Program is located in Johnston, RI. The organization was established in 1991. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Factory Mutual Insurance Company Postretirement Welfare Program is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.

For the year ending 12/2022, Factory Mutual Insurance Company Postretirement Welfare Program generated $12.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $14.4m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (6.6%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE CERTAIN LIFE HEALTH AND OTHER WELFARE BENEFITS TO ELIGIBLE RETIREES AND THEIR DEPENDENTS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO PROVIDE CERTAIN LIFE HEALTH AND OTHER WELFARE BENEFITS TO ELIGIBLE RETIREES AND THEIR DEPENDENTS.


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Board, Officers & Key Employees

Name (title)Compensation
Sanjay Chawla
Chief Investment Officer Investments
$0
Deanna Fidler
Executive Vice President
$0
Jonathan I Mishara
Senior Vice President Governmental Affairs
$0
Carl Slater
Senior Vice President Human Resources
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$2,171,571
Investment income $2,766,657
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $7,931,569
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $12,869,797

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Ibt Local 191 Health Services & Insurance Plan
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$33,010,107
Transportation Health Services And Insurance Plan 443
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$26,025,755
Citibank Na Employees Association
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$3,297,702
Teamsters Local 1150 Prescription Drug Benefit Fund
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$22,365,330
Pinnacle West Capital Corporation Union Health Benefits Master Trust
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$51,792,627
Pinnacle West Capital Corporation Life Insurance Benefits Trust
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$462,515,260
Amica Retiree Medical Tr
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$29,879,454
Utc Welfare Benefits Plan
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$25,679,808
Transit Employees Health And Welfare Fund
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$24,320,744

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