2012-11-15T18:57:35-06:00 2011-12-31 ERNST & YOUNG US LLP 2100 ONE PPG PLACE PITTSBURGH PA 15222 990 2011-01-01 133914183 VEBA TRUST FOR UNION EMPLOYEES OF KEYSPAN CORPORATION % THE BANK OF NEW YORK MELLON VEBA 4122367175 C/O THE BNYM PO BOX 535007 PITTSBURGH PA 152535007 BRENT HEINTZELMAN 2012-11-15 true 4126447800 2011 2016-02-24 21:20:13Z X THE BANK OF NEW YORK MELLON PO BOX 535007 PITTSBURGH PA 152535007 69374939 false X N/A X 1994 NY TO PROVIDE BENEFITS TO ELIGIBLE MEMBERS 1 0 0 0 0 0 0 40856932 47838487 27956059 20949434 501160 587018 69314151 69374939 0 0 41253835 38644556 252265 146910 0 0 0 1584332 1061543 43090432 39853009 26223719 29521930 375199153 414599969 2379892 12258778 372819261 402341191 TO PROVIDE BENEFITS TO ELIGIBLE MEMBERS false false 0 0 0 TO PROVIDE BENEFITS TO ELIGIBLE MEMBERS 0 0 0 0 false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true false false false true 0 0 0 false false false false false false X 1 0 false false false false false false false false false false false false false false false false false false X THE BANK OF NEW YORK MELLON 4122367175 PO BOX 535007 PITTSBURGH PA 152535007 X THE BANK OF NEW YORK MELLON 0.0 X 146910 0 0 146910 0 0 1 false false false FRIESS ASSOCIATES INVESTMENT MGMT 122172 GMO INVESTMENT MGMT 139614 SOUTHEASTERN ASSET INVESTMENT MGMT 146710 3 0 EMPLOYER CONTRIBUTIONS 525100 45350000 45350000 EMPLOYEE CONTRIBUTIONS 525100 2488487 2488487 47838487 9473126 9473126 0 0 11476308 11476308 11476308 11476308 0 0 0 STOCK LOAN INCOME 900099 57651 57651 GAIN ON FX CONTRACTS 900099 28576 28576 REALIZED CURRENCY GAIN 900099 492787 492787 8004 8004 587018 69374939 47838487 21536452 0 0 0 38644556 146910 0 0 0 0 0 0 0 57367 0 0 909360 77522 0 0 0 0 0 0 0 0 0 0 0 0 ADMINISTRATION FEES 11558 COMMISSION ON FUTURES 4318 OTHER FEES 1418 39853009 0 0 0 48313 521 0 140693 0 0 2837435 12196226 0 0 0 0 0 0 0 0 0 0 0 0 0 372313405 402262529 0 0 0 0 0 0 375199153 414599969 2379892 12258778 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2379892 12258778 X 372819261 402341191 0 0 0 0 372819261 402341191 375199153 414599969 X 29521930 X X false false false CORPORATE STOCK - PREFERRED 47496 C CORPORATE STOCK - COMMON 73312985 C COMMON/COLLECTIVE TRUST 132542335 C 103-12 INVESTMENT ENTITIES 35008360 C REGISTERED INVESTMENT COMPANIE 66572770 C PARTNERSHIP/JOINT VENTURE INTE 24606022 C U.S. GOVERNMENT SECURITIES 67829411 C OTHER INVESTMENTS 2343150 C 402262529 FORM 990 PART VI SECTION A LINE 1A & B THE BANK OF NEW YORK MELLON SERVES AS DIRECTED TRUSTEE OF THIS TRUST. THE PLAN SPONSOR IS NATIONAL GRID USA SERVICE COMPANY. THE TRUST IS ADMINISTERED BY THE KEYSPAN CORPORATION BOARD OF DIRECTORS IN ACCORDANCE WITH THE TERMS OF THE TRUST AGREEMENT. AS SUCH THE TRUST DOES NOT HAVE A GOVERNING BODY THAT EXERCISES DISCRETION. FORM 990 PART VI SECTION B LINE 11A NO REVIEW WAS OR WILL BE CONDUCTED. FORM 990 PART VI SECTION B LINES 8, 12-15 THESE QUESTIONS ARE NOT APPLICABLE TO THE TRUST. ADDITIONALLY, THE TRUST DOES NOT HAVE ANY EMPLOYEES, THEREFORE, NO PROCESSES RELATED TO EMPLOYEE COMPENSATION ARE IN PLACE. FORM 990 PART VI SECTION C LINE 19 AS A 501(C)(9) ORGANIZATION THE TRUST IS NOT REQUIRED TO MAKE THE DOCUMENTS REFERENCED IN QUESTION 19 AVAILABLE TO THE GENERAL PUBLIC. FORM 990 PART VII SECTION A LINE 1A COLUMN (B) AVERAGE HOURS PER WEEK DEVOTED TO POSITION: AS TRUSTEE, THE BANK OF NEW YORK MELLON PROVIDES ADMINISTRATIVE SERVICES SUCH AS ACTING AS INVESTMENT MANAGER FOR VEBA TRUST FOR UNION EMPLOYEES OF KEYSPAN CORPORATION. THE SERVICES REQUIRE NUMEROUS INDIVIDUAL BANK EMPLOYEES' INVOLVEMENT IN THE ACTIVITIES OF THE ORGANIZATION AND THUS CANNOT BE QUANTIFIED ON AN HOURLY BASIS. THEREFORE, THE TRUSTEE FEES ARE NOT BASED UPON AN HOURLY BASIS, BUT ARE CALCULATED BASED UPON FACTORS SUCH AS THE MARKET VALUE OF THE ACCOUNT AND IN ACCORDANCE WITH THE BANK OF NEW YORK MELLON'S AGREEMENT WITH NATIONAL GRID USA SERVICE COMPANY. FORM 990 PART XI LINE 5 THE AMOUNT ON LINE 5 IS A FUND BALANCE ADJUSTMENT. FORM 990 PART XII, LINE 1 VEBA TRUST FOR UNION EMPLOYEES OF KEYSPAN CORPORATION HAS NOTED THAT ITS BOOKS AND RECORDS ARE REPORTED ON THE "MODIFIED CASH" BASIS WHICH IS A MORE ACCURATE DESCRIPTION OF THE ACCOUNTING METHOD USED BY VEBA TRUST FOR UNION EMPLOYEES OF KEYSPAN CORPORATION AND IS IN COMPLIANCE WITH REG. 1.446-1(C)(IV). THOUGH THIS DESCRIPTION IS DIFFERENT FROM THE PRIOR YEAR, THERE HAS BEEN NO CHANGE IN THE ACCOUNTING METHOD AND IT IS IN CONFORMITY WITH THE METHOD USED FOR ITS BOOKS. VEBA TRUST FOR UNION EMPLOYEES OF KEYSPAN CORPORATION BELIEVES THAT THE METHOD CLEARLY REFLECTS INCOME AND IS CONSISTENTLY USED. NATIONAL GRID USA SERVICE COMPANY 40 SYLVAN ROAD WALTHAM MA 02451 041663150 ENERGY MA C CORP 0 0 0.00000 false false false false false false false false false false false false false false false false false true