Form 990 for tax year 2022
Filed by UNITED PARCEL SERVICE VEBA UPS HEALTH AND WELFARE PLAN.
Totals
- Total revenue
- $1,023,673,940
- Total expenses
- $1,032,871,708
- Contributions and grants received
- $148,183,472
- Grants paid
- $0
- Program service revenue
- $875,444,787
- Investment income
- $45,681
- Other revenue
- $0
- Total assets, end of year
- $4,289,932
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $4,289,932
- Program services expenses (Part IX)
- $952,548,945
- Management and general expenses
- $80,322,763
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
Program services were 92.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1b · Membership dues
$148,183,472
-
2a · Program service revenue: UNITED PARCEL SERVICE, INC.
total $875,444,787 · related or exempt $875,444,787 · unrelated business $0
-
3 · Investment income
total $43,974 · related or exempt $43,974
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $1,707
-
7c · Gain or loss
securities $1,707
-
7d · Net gain or loss
total $1,707 · related or exempt $1,707
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $952,548,945 · program services $952,548,945
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $0
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $0
-
24a · Other expenses: MISCELLANEOUS EXPENSE
total $0 · management and general $0
-
24b · Other expenses: CONSULTING
total $14,383,986 · management and general $14,383,986
-
24c · Other expenses: CONTRACT ADMINISTRATION
total $65,938,777 · management and general $65,938,777
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $0 · end of year $0
-
2 · Savings and temporary cash investments
beginning of year $4,408,597 · end of year $4,289,932
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $0 · end of year $0
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $0 · end of year $0
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $0 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $0 · end of year $0
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $0
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $156,760 · end of year $0
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $4,251,837 · end of year $4,289,932
Mission and programs · 2022
Mission
THE VEBA TRUST IS THE FUNDING VEHICLE FOR THE UPS FLEXIBLE BENEFIT PLAN, THE UPS HEALTH CARE PLAN, AND THE UPS RETIRED EMPLOYEES HEALTH CARE PLAN. THE PLANS PROVIDE BENEFITS TO COVERED ACTIVE AND FORMER EMPLOYEES OF UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES INCLUDING THEIR DEPENDENTS.
Activities or mission (Part I)
The VEBA trust holds the assets and controls the payment functions for the UPS Flexible Benefit Plan, UPS Health Care Plan, and UPS Retired Employee Health Care Plan.
-
NONE
As filed on the 2022 return.
Listed in Part VII
-
Joseph Doole
Fmr Admin Committee Member
- Total calculated
- $998,851
- From this org
- $0
- From related orgs
- $977,590
- Other
- $21,261
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- not reported + $101,886 related
- Bonus
- not reported + $874,811 related
- Other
- not reported + $893 related
- Deferred
- not reported
- Nontaxable benefits
- not reported + $21,261 related
- Filer's total
- not reported + $998,851 related
-
Malika Terry
Admin Committee Member
- Total calculated
- $777,025
- From this org
- $0
- From related orgs
- $757,998
- Other
- $19,027
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported + $757,660 related
- Other
- not reported + $338 related
- Deferred
- not reported
- Nontaxable benefits
- not reported + $19,027 related
- Filer's total
- not reported + $777,025 related
-
Barbara Dorfman
Admin Committee Member
- Total calculated
- $474,553
- From this org
- $0
- From related orgs
- $448,737
- Other
- $25,816
- Hours/week
- 0 + 0.1 related
Schedule J breakdown matched by us
- Base
- not reported + $279,050 related
- Bonus
- not reported + $169,403 related
- Other
- not reported + $284 related
- Deferred
- not reported
- Nontaxable benefits
- not reported + $25,816 related
- Filer's total
- not reported + $474,553 related
-
William Lyons
Admin Committee Member
- Total calculated
- $376,130
- From this org
- $0
- From related orgs
- $349,412
- Other
- $26,718
- Hours/week
- 0 + 0.1 related
Schedule J breakdown matched by us
- Base
- not reported + $235,470 related
- Bonus
- not reported + $113,713 related
- Other
- not reported + $229 related
- Deferred
- not reported
- Nontaxable benefits
- not reported + $26,718 related
- Filer's total
- not reported + $376,130 related
-
David Kim
Admin Committee Member
- Total calculated
- $372,338
- From this org
- $0
- From related orgs
- $354,577
- Other
- $17,761
- Hours/week
- 0 + 0.1 related
Schedule J breakdown matched by us
- Base
- not reported + $207,615 related
- Bonus
- not reported + $146,644 related
- Other
- not reported + $318 related
- Deferred
- not reported
- Nontaxable benefits
- not reported + $17,761 related
- Filer's total
- not reported + $372,338 related
-
Kenneth Brown
Fmr Admin Committee Member
- Total calculated
- $14,946
- From this org
- $0
- From related orgs
- $14,946
- Other
- $0
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported + $14,946 related
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported + $14,946 related
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
Answered no
- 4a · Severance or change-of-control payment
The filer's explanations (Part III)
- Page 7, Line 1a and Schedule J, Part II
- Each individual is an employee of United Parcel Service, Inc. (EIN:58-2480149) or one of its subsidiary corporations and receives all compensation from such employer for work primarily performed for the respective corporation. These individuals perform minimal tasks in facilitating the running of VEBA (estimate of less than 5 hours per year.) Persons listed in Part II may be covered by a SERP and participate in the long-term incentive compensation plan, which has an equity component.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
UPS Health and Welfare Plan Trust Collec
501(c)(9) · VEBA Union · GA
Directly controlled by NA
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
UPS Inc and Subsidiary Corporations
C Corp · Transportatio · DE · share of income $0 · share of assets $0
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 9 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202333139349305378
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