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Nonprofiteer
← SAN DIEGO CITY EMPLOYEES RETIREE MEDICAL TRUST

Form 990 for tax year 2023

Filed by SAN DIEGO CITY EMPLOYEES RETIREE MEDICAL TRUST.

Totals

Total revenue
$26,610,228
Total expenses
$12,890,166
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$15,799,833
Investment income
$10,810,395
Other revenue
$0
Total assets, end of year
$272,233,327
Total liabilities, end of year
$23,561
Net assets or fund balances, end of year
$272,209,766
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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.

  • 2a · Program service revenue: EMPLOYER CONTRIBUTIONS

    total $15,799,833 · related or exempt $15,799,833

  • 3 · Investment income

    total $9,222,846 · excluded $9,222,846

  • 7a · Gross sales of assets other than inventory

    securities $99,185,034

  • 7b · Less cost or other basis and sales expenses

    securities $97,597,485

  • 7c · Gain or loss

    securities $1,587,549

  • 7d · Net gain or loss

    total $1,587,549 · excluded $1,587,549

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $12,419,888

  • 11a · Fees: management

    total $275,214

  • 11b · Fees: legal

    total $48,000

  • 11c · Fees: accounting

    total $31,273

  • 11f · Fees: investment management

    total $75,000

  • 11g · Fees: other

    total $1,223

  • 13 · Office expenses

    total $4,025

  • 19 · Conferences, conventions and meetings

    total $8,787

  • 23 · Insurance

    total $22,847

  • 24a · Other expenses: TAXES, FILING FEES, AND

    total $3,909

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $221,531 · end of year $342,554

  • 2 · Savings and temporary cash investments

    beginning of year $23,992,974 · end of year $23,396,883

  • 4 · Accounts receivable

    beginning of year $1,611,685 · end of year $982,885

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,050 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $214,594,547 · end of year $247,511,005

  • 17 · Accounts payable and accrued expenses

    beginning of year $22,197 · end of year $23,561

  • 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 $240,400,590 · end of year $272,209,766

Mission and programs · 2023

Mission

THE TRUST PROVIDES A VEHICLE TO WHICH CONTRIBUTIONS FROM THE CITY AND PARTICIPATING EMPLOYEES ARE PAID AND THROUGH WHICH THE TRUSTEES CAN CREATE AND ADMINISTER ONE OR MORE EMPLOYEE WELFARE BENEFIT PLANS FOR THE PARTICIPANTS AND THEIR BENEFICIARIES.

Activities or mission (Part I)

TO PROVIDE EMPLOYEE WELFARE BENEFITS FOR PARTICIPANTS AND THEIR COVERED DEPENDENTS.

  • ADMINISTERED A WELFARE BENEFIT PLAN FOR THE PARTICIPANTS AND THEIR BENEFICIARIES (2,751 PARTICIPANTS AT 3/31/24).

As filed on the 2023 return.

Listed in Part VII

  • Michael Zucchet

    SECRETARY

    Total calculated
    $342,085
    From this org
    $0
    From related orgs
    $307,883
    Other
    $34,202
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $307,883 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $34,202 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $342,085 related

  • Joel Tien

    TRUSTEE

    Total calculated
    $219,062
    From this org
    $0
    From related orgs
    $194,442
    Other
    $24,620
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $194,442 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $24,620 related
    Filer's total
    $0 + $219,062 related

  • Mike Carr

    TRUSTEE

    Total calculated
    $125,442
    From this org
    $0
    From related orgs
    $109,761
    Other
    $15,681
    Hours/week
    1 + 40 related

  • Andres Alva-Cardenes

    TRUSTEE

    Total calculated
    $96,383
    From this org
    $0
    From related orgs
    $96,383
    Other
    $0
    Hours/week
    1 + 40 related

  • Debra Bevier

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 40 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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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.

  • AFSCME LOCAL 127

    501(C)(5) · LABOR ORGANIZATION · CA

  • CALIFORNIA TEAMSTERS LOCAL 911

    501(C)(5) · LABOR ORGANIZATION · CA

  • DEPUTY CITY ATTORNEYS ASSOCIATION

    501(C)(5) · LABOR ORGANIZATION · CA

  • SAN DIEGO MUNICIPAL EMPLOYEES ASSOCIATION

    501(C)(5) · LABOR ORGANIZATION · CA

  • SAN DIEGO POLICE OFFICERS ASSOCIATION

    501(C)(5) · LABOR ORGANIZATION · CA

  • CITY OF SAN DIEGO

Provenance

Return type
form_990
Tax year
2023
Filed
12 December 2024
IRS schema version
2023v5.1
Source object
202413489349300926

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