UNITED STATES STEEL CORPORATION RETIREE INSURANCE BENEFITS TRUST

EIN: 274344749 Mutual Benefit

PITTSBURGH, PA

Total Revenue
$124,755,516
Total Expenses
$111,688,928
Total Assets
$25,458,527
Net Assets
$23,659,840
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
PA
Phone
4124335070
Tax Period
2023-01-01 to 2023-12-31

UNITED STATES STEEL CORPORATION RETIREE INSURANCE BENEFITS TRUST, founded in 2010, is a major nonprofit in the Mutual Benefit sector that reported $124.8M in total revenue in fiscal year 2023. Revenue fell 25% from the prior year — a significant decline worth monitoring. Expenses of $111.7M left a modest 10% surplus.

Mission

THE UNITED STATES STEEL CORPORATION RETIREE INSURANCE BENEFITS TRUST (THE "TRUST") IS A TRUST ORGANIZED TO PAY LIFE AND HEALTH INSURANCE BENEFITS FOR RETIRED EMPLOYEES (AND THEIR BENEFICIARIES) OF THE UNITED STATES STEEL CORPORATION IN ACCORDANCE WITH UNITED STATES STEEL CORPORATION PLAN FOR RETIREE INSURANCE BENEFITS (THE "PLAN"), WHICH WAS ESTABLISHED ON DECEMBER 31, 2010.

Program Service Accomplishments

Program 1

THE UNITED STATES STEEL CORPORATION PLAN FOR RETIREE INSURANCE BENEFITS. AS OF DECEMBER 31, 2023, OF THE UNITED STATES STEEL CORPORATION IN ACCORDANCE WITH UNITED STATES STEEL CORPORATION PLAN...

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THE UNITED STATES STEEL CORPORATION PLAN FOR RETIREE INSURANCE BENEFITS. AS OF DECEMBER 31, 2023, OF THE UNITED STATES STEEL CORPORATION IN ACCORDANCE WITH UNITED STATES STEEL CORPORATION PLAN ORGANIZED TO PAY LIFE AND HEALTH INSURANCE BENEFITS FOR RETIRED EMPLOYEES (AND THEIR BENEFICIARIES) FOR RETIREE INSURANCE BENEFITS (THE "PLAN"), WHICH WAS ESTABLISHED ON DECEMBER 31, 2010. THERE WERE 23,774 PARTICIPANTS IN THE PLAN. THE TRUST PAID A TOTAL OF $111,592,808 IN LIFE AND HEALTH INSURANCE. THE UNITED STATES STEEL CORPORATION RETIREE INSURANCE BENEFITS TRUST (THE "TRUST") IS A TRUST PAYMENT OF INSURANCE BENEFITS FOR RETIRED EMPLOYEES (AND THEIR BENEFICIARIES) WHO PARTICIPATE IN INSURANCE BENEFITS TO PARTICIPANTS AND BENEFICIARIES IN THE 2023 CALENDAR YEAR.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $124,755,516
Investment Income $0
Other Revenue $0
TOTAL REVENUE $124,755,516

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $0
Other Expenses $96,120
TOTAL EXPENSES $111,688,928

Year-over-Year Comparison

2023 2022 Change
Revenue $124,755,516 $166,124,065 -0.2%
Expenses $111,688,928 $166,703,069 -0.3%
Net Income $13,066,588 $-579,004 -23.6%
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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
1
Independent Members
1
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
N/A institutional trustee 0.0
$96,120 $0 $96,120
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 $124,755,516 $111,688,928 $25,458,527 $13,066,588
2022 $166,124,065 $166,703,069 $12,911,832 $-579,004
2021 $174,400,567 $179,018,075 $16,193,523 $-4,617,508
2020 $210,342,749 $202,986,737 $17,425,348 $7,356,012
2019 $207,159,700 $205,133,330 $16,554,416 $2,026,370
2018 $247,156,145 $243,815,050 $12,391,676 $3,341,095
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