Solutia Retiree Welfare Tr 98-K079-00-6

Organization Overview

Solutia Retiree Welfare Tr 98-K079-00-6, operating under the name Solutia Retiree Welfare Trust, is located in Kingsport, TN. The organization was established in 2008. 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. Solutia Retiree Welfare Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.

For the year ending 12/2022, Solutia Retiree Welfare Trust generated $3.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (12.9%) each year. All expenses for the organization totaled $6.8m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (11.9%) per year over the past 8 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 WELFARE BENEFITS TO RETIREES OF SOLUTIA, INC. AND ANY SUCCESSORS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PURSUANT TO THE FIRST AMENDED AND RESTATED RETIREE SETTLEMENT AGREEMENT DATED JULY 10, 2007, THE SOLUTIA RETIREE WELFARE TRUST WAS ESTABLISHED TO PROVIDE RETIREE MEDICAL, RETIREE LIFE INSURANCE AND DISABILITY BENEFITS ("OTHER POST-EMPLOYMENT BENEFITS OR "OPEB") FOR CERTAIN EMPLOYEES OF SOLUTIA, INC.


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Board, Officers & Key Employees

Name (title)Compensation
William T Mclain From 3120
SVP And CFO
$0
Perry Stuckey
Svp, Chief Hr Officer
$0
Curtis Espeland Until 22820
Evp And CFO
$0
Clark A Jordan Until 41220
Vp, Legal & Corporate Security
$0
Kellye Walker From 41320
Evp & Chief Legal Officer
$0
Name Not Listed
Trustee
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Blue Cross Blue Shield Of Tennessee
Administration
$251,059
Northern Trust Company
Investment
$157,051
Cundy
Healthcare Administration
$115,222
View All Vendors

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$1,349,926
Investment income $3,254,050
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$1,131,028
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $3,472,948

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