University Of B C Staff Pension Plan
- Assets
- $2.4b
- Revenue
- $220.4m
- Investments
- $1.1b
- Employees
- 0
- Location
- Founding
- 00/0000
- Data as of
- 12/2022
- 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 12/2022, University Of B C Staff Pension Plan generated $220.4m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $79.6m during the year ending 12/2022. While expenses have increased by 8.2% 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 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- Retired August 2022 Executive Director, Pensions | 35 | $113,802 | |
Derrick Johnstone-Hired July 2022 Executive Director, Pensions | 35 | $60,177 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Arrowstreet Investment Management Services | 12/30/22 | $3,550,060 |
Imant Investment Manager | 12/30/22 | $2,337,065 |
Phillips Hager And North Investment Manager | 12/30/22 | $716,212 |
Fiera Real Estate Investment Manager | 12/30/22 | $530,369 |
Cibc Investor Services Investment Manager | 12/30/22 | $297,904 |
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 | $119,606,485 |
| Investment income | $75,651,679 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $25,093,647 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $220,351,811 |
| 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 | $63,042,750 |
| Compensation of current officers, directors, key employees. | $173,979 |
| Compensation of current officers, directors, key employees. | $173,979 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,101,497 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $256,238 |
| Fees for services: Legal | $4,862 |
| Fees for services: Accounting | $47,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $14,543,003 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $85,936 |
| Information technology | $31,271 |
| 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 | $63,669 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,000 |
| All other expenses | $0 |
| Total functional expenses | $79,550,235 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $929,818 |
| 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 | $1,225,045,569 |
| Investments—other securities | $1,125,314,965 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,351,290,352 |
| Accounts payable and accrued expenses | $5,084,432 |
| 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 | $5,084,432 |
| Net assets without donor restrictions | $2,346,205,920 |
| 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 | $2,351,290,352 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|