TRUSTEES OF THE UNIV OF PENNA RETIREE MED & DEATH BENEFITS TRUST

EIN: 232769744 501(c)(3) Mutual Benefit

PHILADELPHIA, PA

Total Revenue
$42,231,162
Total Expenses
$25,077,255
Total Assets
$756,040,989
Net Assets
$755,929,798
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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
PA
Principal Officer
MARK DINGFIELD
Phone
2155032684
Tax Period
2022-07-01 to 2023-06-30

TRUSTEES OF THE UNIV OF PENNA RETIREE MED & DEATH BENEFITS TRUST, founded in 1994, is a mid-sized nonprofit in the Mutual Benefit sector that reported $42.2M in total revenue in fiscal year 2022. Revenue fell 39% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $17.2M, a strong 41% operating margin.

Mission

PAYMENT OF MEDICAL AND DEATH BENEFITS TO RETIREES

Program Service Accomplishments

Program 1
Expenses: $24,218,767 Revenue: $22,946,174

STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA RETIREE MEDICAL BENEFITS TRUST (THE "RETIREE MEDICAL BENEFITS TRUST") IS AN ORGANIZATION FORMED TO FOSTER...

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STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA RETIREE MEDICAL BENEFITS TRUST (THE "RETIREE MEDICAL BENEFITS TRUST") IS AN ORGANIZATION FORMED TO FOSTER AND SUPPORT THE ACTIVITIES OF THE UNIVERSITY OF PENNSYLVANIA (THE "UNIVERSITY"). THE UNIVERSITY IS ONE OF THE LEADING RESEARCH AND EDUCATIONAL INSTITUTIONS IN THE UNITED STATES AND IN THE WORLD. IT IS ALSO A NONPROFIT, TAX-EXEMPT ORGANIZATION, AND QUALIFIES AS AN EDUCATIONAL ORGANIZATION DESCRIBED IN SECTION 509(A)(1) OF THE INTERNAL REVENUE CODE. THE RETIREE MEDICAL BENEFITS TRUST FUNCTIONS AS AN INTEGRAL PART OF THE UNIVERSITY AND SERVES THE UNIVERSITY BY RECEIVING FUNDS FROM THE UNIVERSITY, ACCUMULATING THESE FUNDS, AND INVESTING THEM FOR THE BENEFIT OF THE UNIVERSITY. THE UNIVERSITY PROVIDES MEDICAL AND DEATH BENEFITS TO ITS ELIGIBLE RETIRED EMPLOYEES, AND THEIR ELIGIBLE DEPENDENTS, PRINCIPALLY THROUGH GROUP HEALTH AND LIFE INSURANCE BENEFIT PLANS. THE BENEFITS UNDER THE PLANS ARE AVAILABLE TO ALL RETIRED EMPLOYEES OF THE UNIVERSITY WHO MEET THE TIME-IN-SERVICE ELIGIBILITY CRITERIA ESTABLISHED BY THE UNIVERSITY. THE RETIREE MEDICAL BENEFITS TRUST WAS ESTABLISHED IN ORDER TO ENSURE THAT THERE ARE SUFFICIENT ASSETS AVAILABLE FOR THE PAYMENT OF MEDICAL AND DEATH BENEFITS TO ALL ELIGIBLE RETIRED EMPLOYEES OF THE UNIVERSITY AND THEIR DEPENDENTS AND BENEFICIARIES. ACCORDINGLY, THE RETIREE MEDICAL BENEFITS TRUST IS OPERATED AS AN INTEGRAL PART OF THE UNIVERSITY OF PENNSYLVANIA, AND ITS PURPOSES ARE TO: (1) SERVE AS A REPOSITORY OF THE FUNDS TRANSFERRED TO IT BY THE UNIVERSITY OF PENNSYLVANIA; (2) INVEST THESE FUNDS IN ORDER TO PRODUCE INCOME AND CAPITAL APPRECIATION SO THAT THE INCOME AND THE PRINCIPAL CAN BE USED TO FUND THE RETIREE MEDICAL AND DEATH BENEFIT OBLIGATIONS OF THE UNIVERSITY; (3) DISBURSE, ON BEHALF OF THE UNIVERSITY, THE MEDICAL REIMBURSEMENT CLAIMS MADE TO THE UNIVERSITY BY ITS RETIRED FORMER EMPLOYEES, AND WHICH HAVE BEEN APPROVED BY THE UNIVERSITY; AND (4) PAY PREMIUMS ON INSURANCE POLICIES, IF ANY, THAT THE UNIVERSITY ELECTS TO PROCURE TO PROVIDE RETIREE MEDICAL AND DEATH BENEFITS. ------------------------------

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Trantor Score

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

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $22,946,174
Investment Income $17,874,548
Other Revenue $1,410,440
TOTAL REVENUE $42,231,162

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $24,218,767
Other Expenses $1,179,174
TOTAL EXPENSES $25,077,255

Year-over-Year Comparison

2022 2021 Change
Revenue $42,231,162 $68,759,671 -0.4%
Expenses $25,077,255 $25,796,352 0.0%
Net Income $17,153,907 $42,963,319 -0.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
1
Independent Members
N/A
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
0
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
UNIVERSITY OF PENNSYLVANIA TRUSTEE 2.0
$0 $0 $0
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
2025 No data No data No data No data
2024 No data No data No data No data
2023 $42,231,162 $25,077,255 $756,040,989 $17,153,907
2022 $68,759,671 $25,796,352 $712,800,574 $42,963,319
2021 $64,649,009 $32,621,041 $717,825,607 $32,027,968
2020 $44,515,339 $29,520,484 $555,999,026 $14,994,855
2019 $44,882,801 $26,796,665 $523,014,031 $18,086,136
2018 $54,936,637 $26,166,911 $508,172,885 $28,769,726
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