CITY OF RALEIGH NORTH CAROLINA MEDICAL BENEFITS TRUST: Form 990, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
CITY OF RALEIGH NORTH CAROLINA MEDICAL BENEFITS TRUST (EIN 58-1515861)
Tax period
2021-08-01 to 2022-07-31
Filed
2022-11-13
IRS object ID
202233179349301853
Schema version
2021v4.1
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2022-11-13T13:00:31-06:00ReturnTs
Tax Period End2022-07-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN134008324PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1PRICEWATERHOUSECOOPERS LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1301 GRANT STREET 45TH FLOORAddressLine1Txt
CityPITTSBURGHCityNm
State AbbreviationPAStateAbbreviationCd
ZIP15219ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2021-08-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN581515861EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1CITY OF RALEIGH NC MEDICAL AND DENTAL BENFITBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlRALEBusinessNameControlTxt
Phone6025620883PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 10316AddressLine1Txt
CityDES MOINESCityNm
State AbbreviationIAStateAbbreviationCd
ZIP50306ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonPRINCIPAL BANK - PCS TAXPersonNm
Person TitleTRUSTEEPersonTitleTxt
Phone6025620883PhoneNum
Signature2022-10-21SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonLAURA B STROBELPreparerPersonNm
PTINP01271955PTIN
Phone4123556000PhoneNum
Preparation2022-10-21PreparationDt
Self EmployedYes (X)SelfEmployedInd

Additional Filer Information AdditionalFilerInformation

FieldValueIRS element (for citing)
Trusted CustomerTrustedCustomerGrp
FieldValueIRS element (for citing)
Tax2021TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerPRINCIPAL FINANCIAL GROUPPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 10316AddressLine1Txt
CityDES MOINESCityNm
State AbbreviationIAStateAbbreviationCd
ZIP50306ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$102,403,813GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Website AddressN/AWebsiteAddressTxt
Type Of Organization TrustYes (X)TypeOfOrganizationTrustInd
Formation2008FormationYr
Legal Domicile StateNCLegalDomicileStateCd
Activity Or MissionVOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATIONActivityOrMissionDesc
Voting Members Governing Body1VotingMembersGoverningBodyCnt
Voting Members Independent0VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$72,121,577PYProgramServiceRevenueAmt
CY Program Service Revenue$58,183,409CYProgramServiceRevenueAmt
PY Investment Income$8,844,475PYInvestmentIncomeAmt
CY Investment Income$4,142,933CYInvestmentIncomeAmt
PY Other Revenue$18,095PYOtherRevenueAmt
CY Other Revenue$14,583,583CYOtherRevenueAmt
PY Total Revenue$80,984,147PYTotalRevenueAmt
CY Total Revenue$76,909,925CYTotalRevenueAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$67,217,740PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$70,808,269CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$105,014PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$41,845CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$41,738PYOtherExpensesAmt
CY Other Expenses$21,715CYOtherExpensesAmt
PY Total Expenses$67,364,492PYTotalExpensesAmt
CY Total Expenses$70,871,829CYTotalExpensesAmt
PY Revenues Less Expenses$13,619,655PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$6,038,096CYRevenuesLessExpensesAmt
Total Assets BOY$79,319,627TotalAssetsBOYAmt
Total Assets EOY$85,320,655TotalAssetsEOYAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$79,319,627NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$85,320,655NetAssetsOrFundBalancesEOYAmt
MissionVOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATIONMissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
DescNot required to complete for 501(c)(9) organizations.Desc
Described In Section501c3falseDescribedInSection501c3Ind
Schedule B RequiredfalseScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Donor Rstr Or Quasi EndowmentsfalseDonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentfalseReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesfalseReportOtherLiabilitiesInd
Include FIN48 FootnotefalseIncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntfalseBusinessRlnWith35CtrlEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityYes (true)RelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Quid Pro Quo ContributionsfalseQuidProQuoContributionsInd
Form8282 Property Disposed OffalseForm8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst IncfalseSubjectToExcsTaxNetInvstIncInd
Excs Tax Sect4951 Or4952 Or4953falseExcsTaxSect4951Or4952Or4953Ind
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members1GoverningBodyVotingMembersCnt
Independent Voting Member0IndependentVotingMemberCnt
Family Or Business RlnfalseFamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyfalseForm990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyfalseConflictOfInterestPolicyInd
Whistleblower PolicyfalseWhistleblowerPolicyInd
Document Retention PolicyfalseDocumentRetentionPolicyInd
Compensation Process CEOfalseCompensationProcessCEOInd
Compensation Process OtherfalseCompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
Other WebsiteYes (X)OtherWebsiteInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1PRINCIPAL BANK - PCS TAXBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone6025620883PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 10316AddressLine1Txt
CityDES MOINESCityNm
State AbbreviationIAStateAbbreviationCd
ZIP50306ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1PRINCIPAL FINANCIAL GROUPBusinessNameLine1Txt
FieldValueIRS element (for citing)
TitleTRUSTEETitleTxt
Average Hours Per Week1.0AverageHoursPerWeekRt
Institutional TrusteeYes (X)InstitutionalTrusteeInd
Reportable Comp From Org$41,845ReportableCompFromOrgAmt
Reportable Comp From Rltd Org$0ReportableCompFromRltdOrgAmt
Other Compensation$0OtherCompensationAmt
FieldValueIRS element (for citing)
Total Reportable Comp From Org$41,845TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescER EE CONTRIBUTIONSDesc
Business900001BusinessCd
Total Revenue Column$58,183,409TotalRevenueColumnAmt
Related Or Exempt Func Income$58,183,409RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$58,183,409TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$1,605,342TotalRevenueColumnAmt
Exclusion$1,605,342ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$28,031,479SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$25,493,888SecuritiesAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$2,537,591SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$2,537,591TotalRevenueColumnAmt
Exclusion$2,537,591ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescOTHER INCOMEDesc
Business900001BusinessCd
Total Revenue Column$14,583,583TotalRevenueColumnAmt
Exclusion$14,583,583ExclusionAmt
FieldValueIRS element (for citing)
Other Revenue Total$14,583,583OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$76,909,925TotalRevenueColumnAmt
Related Or Exempt Func Income$58,183,409RelatedOrExemptFuncIncomeAmt
Exclusion$18,726,516ExclusionAmt

Benefits To Members BenefitsToMembersGrp

FieldValueIRS element (for citing)
Total$70,808,269TotalAmt
Program Services$70,808,269ProgramServicesAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$41,845TotalAmt
Program Services$41,845ProgramServicesAmt

Other Expenses OtherExpensesGrp

FieldValueIRS element (for citing)
DescFOREIGN TAX WITHHELDDesc

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$21,715TotalAmt
Program Services$21,715ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$70,871,829TotalAmt
Program Services$70,871,829ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$22,059,089BOYAmt
EOY$25,083,563EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$57,260,538BOYAmt
EOY$60,237,092EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$79,319,627BOYAmt
EOY$85,320,655EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$79,319,627BOYAmt
EOY$85,320,655EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$79,319,627BOYAmt
EOY$85,320,655EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$79,319,627BOYAmt
EOY$85,320,655EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss$6,038,096ReconcilationRevenueExpnssAmt
Other Changes In Net Assets-$37,068OtherChangesInNetAssetsAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
Acct Compile Or Review BasisAcctCompileOrReviewBasisGrp
FS AuditedfalseFSAuditedInd
FS Audited BasisFSAuditedBasisGrp
Federal Grant Audit RequiredfalseFederalGrantAuditRequiredInd

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PAGE 6, PART VI, LINE 11-DESCRIPTION OF PROCESS FOR REVIEWTHE ORGANIZATION AS A VEBA TRUST IS MANAGED BY ANINSTITUTIONAL TRUSTEE. THE TRUST OFFICER REVIEWS AND SIGNS THE FORM 990
FORM 990, PAGE 6, PART VI, LINE 19THE ORGANIZATION AS A VEBA TRUST WILL PROVIDE A COPY OFTHE FORM 990 TO THE PUBLIC UPON REQUEST, THE FORMS 5500 AND AUDITED FINANCIAL STATEMENTS OF THE UNDERLYING PLANS (THOSE EMPLOYEE BENEFIT PLANS WHOSE ASSETS ARE HELD IN THE TRUST) ARE APPROVED TO PLAN PARTICIPANTS UPON REQUEST
EXPLANATION FOR FORM 990, PART XI, LINE 9WASH SALE ADJUSTMENT: -39,582, COST BASIS ADJUSTMENT: 2,514

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1CITY OF RALEIGHBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1222 W HARGETTAddressLine1Txt
CityRALEIGHCityNm
State AbbreviationNCStateAbbreviationCd
ZIP27601ZIPCd
FieldValueIRS element (for citing)
EIN581515861EIN
Primary ActivitiesGOVERNMENTPrimaryActivitiesTxt
Exempt Code Section501(C)(9)ExemptCodeSectionTxt
Public Charity StatusN/APublicCharityStatusTxt

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1NABusinessNameLine1Txt
FieldValueIRS element (for citing)
Controlled OrganizationfalseControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts RyltsfalseReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth OrgfalseGiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth OrgfalseGiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other OrgfalseLoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth OrgfalseLoansOrGuaranteesFromOthOrgInd
Div Related OrganizationfalseDivRelatedOrganizationInd
Asset Sale To Other OrgfalseAssetSaleToOtherOrgInd
Asset Purchase From Other OrgfalseAssetPurchaseFromOtherOrgInd
Asset ExchangefalseAssetExchangeInd
Rental Of Facilities To Oth OrgfalseRentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth OrgfalseRentalOfFcltsFromOthOrgInd
Perform Of Services For Oth OrgfalsePerformOfServicesForOthOrgInd
Perform Of Services By Other OrgfalsePerformOfServicesByOtherOrgInd
Sharing Of FacilitiesfalseSharingOfFacilitiesInd
Paid Employees SharingfalsePaidEmployeesSharingInd
Reimbursement Paid To Other OrgfalseReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other OrgfalseReimbursementPaidByOtherOrgInd
Transfer To Other OrgfalseTransferToOtherOrgInd
Transfer From Other OrgYes (true)TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp

Other Organization Name OtherOrganizationName

FieldValueIRS element (for citing)
Business Name Line1CITY OF RALEIGHBusinessNameLine1Txt
FieldValueIRS element (for citing)
Transaction TypesTransactionTypeTxt
Involved$70,808,669InvolvedAmt
Method Of Amount DeterminationCASHMethodOfAmountDeterminationTxt

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