University Of B C Pension Plan For Members Of The Academic Staff
- Assets
- $2.8b
- Revenue
- $272.1m
- Investments
- $460.2m
- Employees
- 0
- Location
- Founding
- 02/1980
- Data as of
- 12/2022
- EIN
- 98-0040652
Organization Overview
University Of B C Pension Plan For Members Of The Academic Staff is located in null. The organization was established in 1980. According to its NTEE Classification (Y30) the organization is classified as: Pension & Retirement Funds, 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. University Of B C Pension Plan For Members Of The Academic Staff 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 12/2022, University Of B C Pension Plan For Members Of The Academic Staff generated $272.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $148.1m during the year ending 12/2022. While expenses have increased by 6.7% per year over the past 5 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FACULTY PENSION PLAN (FPP) SERVES ACADEMICS AND ADMINISTRATIVE EXECUTIVES OF THE UNIVERSITY. IT PROVIDES RETIREMENT, TERMINATION AND DEATH BENEFITS TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES: PAYMENT OF BENEFITS FOR RETIREES OR TERMINATED MEMBERS REVENUES: MEMBERS; CONTRIBUTIONS, UNIVERSITY CONTRIBUTIONS, MEMBERS' ADDITIONAL VOLUNTARY CONTRIBUTIONS AND TRANSFER FROM OTHER PLANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kamila Giesbrecht Executive Director, Investments | 35 | $210,020 | |
Orla Cousineau Executive Director, Pensions (retired Aug 2022) | 35 | $113,802 | |
Derrick Johnstone Executive Director, Pensions (hired July 2022) | 35 | $60,177 | |
Kenneth Carty Chair, Board Of Trustees | Trustee | 1 | $0 |
Robert Heinkel Vice Chair, Board Of Trustees | Trustee | 1 | $0 |
Pam Ratner Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Arrowstreet Investment Manager | 12/30/22 | $1,986,207 |
Mfs Investment Management Investment Manager | 12/30/22 | $1,115,122 |
Pimco Investment Manager | 12/30/22 | $969,358 |
Leith Wheeler Investment Manager | 12/30/22 | $704,489 |
Connor Clark And Lunn Investment Manager | 12/30/22 | $555,253 |
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 | $85,629,881 |
| Investment income | $183,092,015 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,404,907 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $272,126,803 |
| 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 | $137,709,348 |
| Compensation of current officers, directors, key employees. | $383,999 |
| Compensation of current officers, directors, key employees. | $383,999 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $891,477 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,410,073 |
| Fees for services: Legal | $87,240 |
| Fees for services: Accounting | $40,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,275,577 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $112,752 |
| Information technology | $24,244 |
| 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 | $46,934 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,000 |
| All other expenses | $130,952 |
| Total functional expenses | $148,125,296 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,046,762 |
| 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 | $2,317,724,379 |
| Investments—other securities | $460,249,556 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,785,020,697 |
| Accounts payable and accrued expenses | $4,991,914 |
| 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 | $4,991,914 |
| Net assets without donor restrictions | $2,780,028,783 |
| 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 | $2,785,020,697 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|