Yale University Retiree Health Benefits Coverage Tr
- Assets
- $804.4m
- Revenue
- $96.9m
- Investments
- $608.5m
- Employees
- 0
- Location
- New Haven, CT
- Founding
- 07/1997
- Data as of
- 06/2021
- EIN
- 06-6414276
Organization Overview
Yale University Retiree Health Benefits Coverage Tr is located in New Haven, CT. The organization was established in 1997. 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. Yale University Retiree Health Benefits Coverage Tr is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Yale University Retiree Health Benefits Coverage Tr generated $96.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 31.2% each year . All expenses for the organization totaled $38.0m during the year ending 06/2021. While expenses have increased by 3.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND SUPPORT THE OBJECTIVES, PHILOSOPHIES AND BEST INTERESTS OF YALE UNIVERSITY. YALE UNIVERSITY IS A TAX EXEMPT ENTITY UNDER IRC SECTION 501(C)(3).
Describe the Organization's Program Activity:
THE EXPENSES REPRESENT THE HEALTH BENEFITS (HOSPITALIZATION, PHYSICIAN SERVICES, PRESCRIPTION COVERAGE, AND MAJOR MEDICAL IN EXCESS OF MEDICARE COVERAGE, AND/OR ALL OR A PORTION OF MEDICARE PART B PREMIUMS) PROVIDED TO RETIRED EMPLOYEES. THE MAJORITY OF REVENUE REPRESENTS THE CONTRIBUTIONS FROM YALE UNIVERSITY, TRUSTEE OF THE TRUST, WHICH WILL BE USED TO FUND POSTRETIREMENT HEALTH BENEFITS FOR RETIRED EMPLOYEES AND DEPENDENTS OF YALE UNIVERSITY PURSUANT TO THE PLAN DOCUMENT. THE NUMBER OF ACTIVE, RETIRED OR SEPARATED PARTICIPANTS RECEIVING BENEFITS OR ENTITLED TO FUTURE BENEFITS AS OF 6/30/21 IS 20,208.
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Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aon Consulting Actuarial Services | 6/29/21 | $235,243 |
Northern Trust Custody Service | 6/29/21 | $205,958 |
Trigran Investments Inc Investment Management | 6/29/21 | $152,313 |
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 | $68,023,324 |
| Investment income | $1,510,150 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $27,096,144 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $96,943,913 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $126,013 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,354,213 |
| Fees for services: Other | $85,185 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $38,023,841 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $195,885,220 |
| Investments—other securities | $608,473,700 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $804,358,920 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $804,358,920 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $804,358,920 |