Aramco US Welfare Benefit Plan Trust
- Assets
- $0.0
- Revenue
- $28.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 10/1995
- Data as of
- 12/2020
- EIN
- 13-3827659
Organization Overview
Aramco US Welfare Benefit Plan Trust is located in Houston, TX. The organization was established in 1995. 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. Aramco US Welfare Benefit Plan Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2020, Aramco US Welfare Benefit Plan Trust generated $28.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (4.1%) each year. All expenses for the organization totaled $28.2m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (4.1%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THIS TRUST IS INTENDED TO QUALIFY AS A VEBA UNDER SECTION 501C9 THE PURPOSE IS TO PROVIDE MEDICAL BENEFITS TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASBCO HAS ADOPTED A BENEFIT PROGRAM (THE PLAN) FOR THE PURPOSE OF PROVIDING MEDICAL BENEFITS TO EMPLOYEES AND THEIR ELIGIBLE DEPENDENTS (MEMBERS). A TRUST WAS FORMED ON JAN 1, 1994 FOR THE PURPOSE OF HOLDING ASSETS OF THE PLAN AND SERVING AS A FUNDING VEHICLE FOR BENEFIT PAYMENTS UNDER THE PLAN. THIS TRUST IS INTENDED TO QUALIFY AS A VOLUNTARY EMPLOYEE BENEFIT ASSOCIATION ("VEBA") UNDER SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE OF 1986. THIS VEBA SERVICES ACTIVE EMPLOYEES AND THEIR ELIGIBLE DEPENDENTS (MEMBERS).
ASBCO HAS ADOPTED A BENEFIT PROGRAM (THE PLAN) FOR THE PURPOSE OF PROVIDING MEDICAL BENEFITS TO EMPLOYEES AND THEIR ELIGIBLE DEPENDENTS (MEMBERS). A TRUST WAS FORMED ON JAN 1, 1994 FOR THE PURPOSE OF HOLDING ASSETS OF THE PLAN AND SERVING AS A FUNDING VEHICLE FOR BENEFIT PAYMENTS UNDER THE PLAN. THIS TRUST IS INTENDED TO QUALIFY AS A VOLUNTARY EMPLOYEE BENEFIT ASSOCIATION ("VEBA") UNDER SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE OF 1986. THIS VEBA SERVICES ACTIVE EMPLOYEES AND THEIR ELIGIBLE DEPENDENTS (MEMBERS).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Bardwell Treasurer | OfficerTrustee | 1 | $0 |
Richard Urban Managing Director | Officer | 1 | $0 |
Ronald Charles Assistant Treasurer | Officer | 1 | $0 |
Melissa Windt Associate Director | Officer | 1 | $0 |
Name Not Listed Directed Trustee | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aetna Administration Fee | 12/30/20 | $1,046,384 |
Express Scripts Administration Fee | 12/30/20 | $158,215 |
Express Scripts Administration Fee | 12/30/20 | $158,215 |
Aetna Administration Fee | 12/30/20 | $1,046,384 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $28,234,886 |
| 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 | $28,234,886 |
| Total Program Service Revenue | $0 |
| Investment income | $361 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,235,247 |
| 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 | $26,599,948 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,402 |
| Fees for services: Other | $1,204,603 |
| 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 | $438,689 |
| Total functional expenses | $28,245,642 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| 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 | $0 |
| 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 | $0 |
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