Indiana Educators Veba Trust, Frankel Robert B Ttee in Indianapolis, Indiana (IN)

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Indiana Educators Veba Trust, Frankel Robert B Ttee
Employer Identification Number (EIN)383691211
Name of OrganizationIndiana Educators Veba Trust
Secondary NameFrankel Robert B Ttee
In Care of NameRobert B Frankel
Address150 W Market St Ste 900, Indianapolis, IN 46204-2814
SubsectionVoluntary Employees' Beneficiary Association (Non-Govt. Emps.)
Ruling Date07/2004
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2011
Assets$25,000 to $99,999
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$84,181
Amount of Income$47,971,500
Form 990 Revenue Amount$47,971,500
National Taxonomy of Exempt Entities (NTEE)Mutual/Membership Benefit Organizations, Other: Voluntary Employees Beneficiary Associations (Government)


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Amount of income in 2011: $47,971,500
This organization: 

 $47,971,500
Other organizations performing similar types of work: 

 $1,116,772

Assets in 2011: $84,181
This organization: 

 $84,181
Other organizations performing similar types of work: 

 $1,340,520

Expenses in 2007: $8,193,039
This organization: 

 $8,193,039
Other organizations performing similar types of work: 

 $4,349,692

Income to expenses ratio in 2007: 5.9
This organization: 

 5.9
Other organizations performing similar types of work: 

 1.2

Financial snapshot ($)

Revenue for 2007

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20032004200520062007
Total revenue$29,987,523$134,593,883$62,510,400$67,504,356$48,739,514
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0
Contributions to donor advised funds$0$0
Direct public support$0$0$0$0$0
Indirect public support$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0
Program service revenue including government fees and contracts$29,779,280$132,451,582$54,999,084$53,514,702$26,754,615
Membership dues and assessments$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$0$0
Dividends and interest from securities$208,243$2,142,301$7,511,316$13,989,654$21,984,899
Net rental income or (loss)$0$0$0$0$0
Gross rents$0$0$0$0$0
Less: rental expenses$0$0$0$0$0
Other investment income$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$0$0$0
Gross amount from sales of assets other than inventory$0$0$0$0$0
Less: cost or other basis and sales expenses$0$0$0$0$0
Net income or (loss) from special events and activities$0$0$0$0$0
Gross revenue$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0
Other revenue$0$0$0$0$0
Total expenses$61,055$849,911$2,894,400$5,322,643$8,193,039
Program services$0$0$0$0$0
Management and general$0$0$0$0$0
Fundraising$0$0$0$0$0
Payments to affiliates$0$0$0$0$0
Net assets or fund balances at end of year$30,729,942$167,736,980$235,884,987$319,992,913$319,678,810
Excess or (deficit) for the year$29,926,468$133,743,972$59,616,000$62,181,713$40,546,475
Net assets or fund balances at beginning of year$0$30,729,942$167,736,980$235,884,987$319,992,913
Other changes in net assets or fund balances$803,474$3,263,066$8,532,007$21,926,213$-40,860,578
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$8,193,039$0$0$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$8,193,039
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$0$0$0$0
Balance Sheets
20032004200520062007
Total assets$30,729,942$167,736,980$235,884,987$319,992,913$319,678,810
Cash - non-interest-bearing$0$0$0$0$0
Savings and temporary cash investments$0$0$0$0$0
Accounts receivable less allowance for doubtful accounts$0$0$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0
Grants receivable$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0
Investments - publicly-traded securities$319,992,913$319,678,810
Investments - other securities$30,729,942$167,736,980$235,884,987$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0
Investments - other$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0
Other assets, including program-related investments$0$0$0$0$0
Total liabilities$0$0$0$0$0
Accounts payable and accrued expenses$0$0$0$0$0
Grants payable$0$0$0$0$0
Deferred revenue$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0
Other liabilities$0$0$0$0$0
Total liabilities and net assets/fund balances$30,729,942$167,736,980$235,884,987$319,992,913$319,678,810
Total net assets or fund balances$30,729,942$167,736,980$235,884,987$319,992,913$319,678,810
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20032004200520062007
Total revenue$0$0$0$0$0
Total revenue, gains, and other support per audited financial statements$0$0$0$0$0
Other expenses$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0
Other$0$0$0$0$0
Other revenue$0$0$0$0$0
Investment expenses$0$0$0$0$0
Other$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20032004200520062007
Total expenses$0$0$0$0$0
Total expenses and losses per audited financial statements$0$0$0$0$0
Other revenue$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0
Prior year adjustments$0$0$0$0$0
Losses$0$0$0$0$0
Other$0$0$0$0$0
Other expenses$0$0$0$0$0
Investment expenses$0$0$0$0$0
Other$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?Yes
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$21,984,899$26,754,615
Program service revenue
Program service revenue 1000000$000$0$26,754,615
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$21,984,899$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
20022003200420052006
Total$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0
Membership fees received$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0
Other income$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$47,971,500
Contributions, Gifts, Grants and Other Similar Amounts$84,181
Program Service Revenue$10,880,984
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$37,006,335
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2011)
Total functional expenses$329,373,634
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$329,373,634
Balance Sheet (for 2011)
Total assets$84,181
Total liabilities$0
Total net assets or fund balances$84,181
Retained earnings, endowment, accumulated income, or other funds$84,181
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:Not provided
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1Voluntary Employees Beneficiary Assoc Tr For Pub Empl State Of Wa, Veba Service Group906 W 2nd Ave Ste 400, Spokane, WA 99201-4537WA1992-05$142,630,420
2Lucent Supp Healthcare Benefits Tr Fbo Formerly Rep Retirees, Gibbens Mark Ttee600 Mountain Ave Ste 2c-427, Murray Hill, NJ 07974-2008NJ2007-04$135,989,684
3Lansing Board Of Water & Light Retiree Benefit Plan & Trust AgreePO BOX 1307, Lansing, MI 48901MI2000-02$99,347,313
4Washington State Council Of Fire Fighters Employee Benefit TrPO BOX 6, Mukilteo, WA 98275-0006WA2001-04$76,695,644
5Uniformed Services Benefit Association, UsbaPO BOX 25956, Overland Park, KS 66225-5956KS2001-05$64,938,969
6Avaya Represented Employees Postretirement Health Benefits Tr211 Mount Airy Rd, Basking Ridge, NJ 07920-2311NJ2003-11$55,970,472
7Indiana Educators Veba Trust, Frankel Robert B Ttee150 W Market St Ste 900, Indianapolis, IN 46204-2814IN2004-07$47,971,500
8Prudential Retiree Health Benefits Tr751 Broad St 18th Floor, Newark, NJ 07102-3714NJ2004-06$46,025,212
9Porter County Schools Employees Ins Veba Tr750 Ransom Rd, Valparaiso, IN 46385-8973IN2000-05$18,904,525
10Metropolitan School District Of Wayne Township Veba Plan And Tr1220 S High School Rd, Indianapolis, IN 46241-3127IN2007-01$18,767,504
11Cummins Atlantic Employee Benefit TrustPO BOX 1787, Columbus, IN 47202-1787IN1983-03$2,891,817
12City Of Martinsville Employee Benefit Tr110 W Morgan St, Martinsville, IN 46151-1448IN1993-04$1,854,288
13Nagakura Engineering Works Employee Benefit Tr, Ito MasashiPO BOX 2369, Columbus, IN 47202-2369IN2004-02$959,378
14Retiree Health Reimbursement Plan And Tr For Fop Lodge 86, Leo Blackwell Ttee1525 Shelby St, Indianapolis, IN 46203-2760IN2008-05$834,858
15Printing Partners Inc Employee Health Veba Tr, Thorpe Sheryl L Ttee6330 E 75th St Ste 106, Indianapolis, IN 46250-2717IN2004-08$372,407
16Griffith Public Schools Veba Health Savings Trust600 N Raymond St, Griffith, IN 46319-2041IN2008-07$208,685
17Insulators Local 41 Retireeinsurance Fund3626 N Wells St, Fort Wayne, IN 46808-4005IN2007-05$197,642
18Plymouth Community Schools Corporation Administrators Veba He611 Berkley St, Plymouth, IN 46563-1817IN2006-07$59,984
19Masiongale Electrical Mechanical Inc Veba Trust, Masiongale Kenneth And Julia A Ttee1210 S Walnut St, Muncie, IN 47302-3259IN2006-04$56,078
20Barr-Reeve Communitey Schools Employee Benefit TrPO BOX 2369, Columbus, IN 47202-2369IN2001-03$0
Number of organizations performing similar types of work
Alaska2
Arizona2
California30
Colorado1
Connecticut2
District of Columbia2
Florida8
Georgia1
Hawaii1
Iowa1
Idaho2
Illinois11
Indiana23
Kansas3
Louisiana1
Massachusetts6
Maryland3
Maine1
Michigan18
Minnesota22
Missouri2
North Carolina4
North Dakota2
New Hampshire1
New Jersey10
Nevada3
New York24
Ohio18
Oklahoma4
Oregon2
Pennsylvania10
Rhode Island3
South Dakota1
Tennessee2
Texas6
Virginia5
Washington8
Wisconsin17
West Virginia1
Total263

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