University Of B C Staff Pension Plan
- Assets
- $2.4b
- Revenue
- $406.9m
- Investments
- $854.0m
- Employees
- 0
- Location
- Founding
- 00/0000
- Data as of
- 12/2021
- EIN
- 98-0058511
Organization Overview
University Of B C Staff Pension Plan is located in null. The organization was established in 0000. 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 Staff Pension Plan 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 12/2021, University Of B C Staff Pension Plan generated $406.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $69.8m during the year ending 12/2021. While expenses have increased by 5.0% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE UBC STAFF PENSION PLAN (SPP) IS A TARGET BENEFIT PLAN. IT PROVIDES MEMBER WITH PENSIONS AND OTHER PLAN OBLIGATIONS SUCH AS PRE-RETIREMENT, DEATH BENEFITS AND TERMINATION BENEFITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES: PAYMENTS OF BENEFITS FOR RETIREES AND TERMINATED MEMBERS. REVENUE: MEMBERS' CONTRIBUTIONS, UNIVERSITY'S CONTRIBUTIONS, TRANSFER FROM OTHER PLANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Orla Cousineau Executive Director, Pensions | Officer | 35 | $185,780 |
Barry Gros Independent Chair Of The Board | Trustee | 1 | $18,500 |
Lia Cosco Board Member | Trustee | 1 | $0 |
Shannon Dunn Board Member | Trustee | 1 | $0 |
Christie Stephenson Board Member | Trustee | 1 | $0 |
Kamila Giesbrecht Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Imant Investment Manager | 12/30/21 | $1,697,466 |
Russell Investment Investment Manager | 12/30/21 | $515,918 |
Phillips Hager And North Investment Manager | 12/30/21 | $741,855 |
Arrowstreet Investment Management Services | 12/30/21 | $2,919,241 |
Fiera Properties Investment Manager | 12/30/21 | $457,260 |
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 | $109,810,433 |
| Investment income | $68,072,565 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $228,969,886 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $406,852,884 |
| 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 | $56,198,966 |
| Compensation of current officers, directors, key employees. | $204,280 |
| Compensation of current officers, directors, key employees. | $204,280 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,035,851 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $220,349 |
| Fees for services: Legal | $16,944 |
| Fees for services: Accounting | $42,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,790,713 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $104,810 |
| Information technology | $30,584 |
| 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 | $16,587 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,000 |
| All other expenses | $0 |
| Total functional expenses | $69,832,917 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $912,508 |
| 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 | $1,565,435,504 |
| Investments—other securities | $854,024,535 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,420,372,547 |
| Accounts payable and accrued expenses | $3,850,484 |
| 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 | $3,850,484 |
| Net assets without donor restrictions | $2,416,522,063 |
| 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 | $2,420,372,547 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of B C Pension Plan For Members Of The Academic Staff | $3,025,719,215 | $359,674,505 |
Carleton University Retirement Plan S1s 5b6 | $1,123,255,112 | -$127,365,051 |
University Of B C Staff Pension Plan | $2,420,372,547 | $406,852,884 |
Mount Pleasant Group Of Cemeteries | $380,619,340 | $92,524,247 |
Veba Inc Veba Tr | $1,816,913 | $41,959,741 |