BAE SYSTEMS FUNDED RETIREE BENEFIT… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1992

Legal Domicile

Principal Officer

JODI COULTER

Phone

5714616000

Tax Period

2023-01-01 to 2023-12-31

BAE SYSTEMS FUNDED RETIREE BENEFIT TRUST, founded in 1992, is a community nonprofit in the Mutual Benefit sector that reported $6.2M in total revenue in fiscal year 2023. Expenses of $12.1M exceeded revenue, resulting in a 95% operating deficit.

Mission

TO FUND WELFARE BENEFITS FOR RETIREES PURSUANT TO IRC SECTION 501(C)(9).

Program Service Accomplishments

Program 1

Expenses: $10,105,441 Revenue: $752,542

THE TRUST PREFUNDS WELFARE BENEFITS FOR RETIREES OF THE SPONSOR OF THE TRUST AND VARIOUS AFFILIATED ENTITIES. THE EXPENSES WERE INCURRED TO PAY BENEFITS TO THE RETIREES PURSUANT TO THE UNDERLYING...

THE TRUST PREFUNDS WELFARE BENEFITS FOR RETIREES OF THE SPONSOR OF THE TRUST AND VARIOUS AFFILIATED ENTITIES. THE EXPENSES WERE INCURRED TO PAY BENEFITS TO THE RETIREES PURSUANT TO THE UNDERLYING BENEFIT PLAN, AND TO PAY ADMINISTRATIVE EXPENSES AND TAXES OWED. THE REVENUE AMOUNT RELATES TO PARTICIPANT AND EMPLOYER CONTRIBUTIONS TO FUND THE BENEFITS, INVESTMENT INCOME, MEDICARE REIMBURSEMENTS, AND UNRELATED BUSINESS INCOME TAX REFUNDS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $752,542

Investment Income $5,446,972

Other Revenue $0

TOTAL REVENUE $6,199,514

Expense Breakdown

Grants Paid $0

Salaries & Benefits $89,300

Fundraising Expenses $0

Program Expenses $10,105,441

Other Expenses $1,903,073

TOTAL EXPENSES $12,097,814

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,199,514	$-11,839,555	-1.5%
Expenses	$12,097,814	$13,522,181	-0.1%
Net Income	$-5,898,300	$-25,361,736	-0.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JP MORGAN CHASE BANK NA	TRUSTEE	5.0		$89,300	$0	$89,300

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$6,199,514	$12,097,814	$161,850,365	$-5,898,300
2022	$-11,839,555	$13,522,181	$164,571,811	$-25,361,736
2021	$16,917,143	$14,559,462	$206,400,104	$2,357,681
2020	$11,535,118	$11,634,987	$210,846,397	$-99,869
2019	$15,371,928	$11,973,626	$214,162,514	$3,398,302
2018	$15,928,230	$16,956,124	$183,096,585	$-1,027,894

BAE SYSTEMS FUNDED RETIREE BENEFIT TRUST