Overview
What is University Of B C Staff Pension Plan?
The University of B C Staff Pension Plan is a Canadian nonprofit organization based in Vancouver, British Columbia, with the address 201-2389 Health Sciences Mall, V6T 1Z3. As a Target Benefit Plan, it's dedicated to delivering pensions and various plan obligations to its members, including pre-retirement and death benefits, and termination benefits. The Plan receives funding through retirees' and members' contributions, the University's contributions, and transfers from other plans. By focusing on retirement benefits, the UBC Staff Pension Plan ensures financial security for its members upon retirement.
Official website here: www.staff.pensions.ubc.ca/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Stars)
The University Of B C Staff Pension Plan has achieved a commendable Four-Star rating from Charity Navigator, reflecting strong performance in accountability and finance. With a score of 92%, the organization demonstrates effective management of its financial resources, underscored by a low liabilities to assets ratio and a high program expense ratio, suggesting that the majority of its funds are directed toward its mission.
One of the notable strengths of the pension plan is its fully independent board, with 100% of members meeting this criterion, which enhances governance and oversight. The organization has also provided comprehensive financial statements and has policies in place regarding document retention and conflict of interest. These elements contribute to a transparent and accountable operational structure.
However, the plan does have a notable limitation, as it currently lacks a whistleblower policy, which could enhance its accountability framework. Despite this shortcoming, the overall financial health and governance practices signify a well-managed organization committed to its fiduciary responsibilities.
This AI summary has been generated from information found on Charity Navigator.
Is University Of B C Staff Pension Plan legitimate?
University Of B C Staff Pension Plan is a legitimate nonprofit organization registered as a 501(c)(3) entity. University Of B C Staff Pension Plan submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $173,979
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,101,497
For more financial information, click here
Official website here: www.staff.pensions.ubc.ca/
What is the mission statement of University Of B C Staff Pension Plan?
The University of B C Staff Pension Plan functions as a Target Benefit Plan. Its primary objective is to ensure the provision of pensions and other related benefits for its members upon retirement, death, and termination. The plan caters to the pre-retirement and post-retirement needs of its members by offering death benefits and termination benefits. The expenses of the plan are primarily covered through the payment of benefits to retirees and terminated members, while the revenues are sourced from members' contributions and the university's contributions, in addition to transfers from other plans.
Official website here: www.staff.pensions.ubc.ca/
Who is the CEO of University Of B C Staff Pension Plan?
Derrick Johnstone is the Executive Director, Pensions of University Of B C Staff Pension Plan.
Official website here: www.staff.pensions.ubc.ca/
What is the revenue of University Of B C Staff Pension Plan?
University Of B C Staff Pension Plan's revenue in 2022 was $220,351,811.
Official website here: www.staff.pensions.ubc.ca/
Who are the executives of University Of B C Staff Pension Plan and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $113,802
- Related: $0
- Other: $0
- Compensation: $60,177
- Related: $0
- Other: $0
Official website here: www.staff.pensions.ubc.ca/
Where can I find the form 990 for University Of B C Staff Pension Plan?
University Of B C Staff Pension Plan's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.staff.pensions.ubc.ca/
Learn more at the official website: www.staff.pensions.ubc.ca/
Mission Statement of University Of B C Staff Pension Plan
The University of B C Staff Pension Plan, a Target Benefit Plan, is dedicated to ensuring its members receive pensions and other plan obligations. This nonprofit organization provides its members with retirement benefits, pre-retirement benefits, death benefits, and termination benefits. The UBC Staff Pension Plan aims to secure the financial future of its members, offering them peace of mind as they work and plan for their retirement. The organization manages expenses through payments of benefits to retirees and terminated members, while generating revenue from members' contributions and the University's contributions. Additionally, funds are transferred from other plans to support the pension plan's mission.
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Impact
October, 2024
The University of British Columbia Staff Pension Plan (UBC SPP) plays a critical role in supporting the financial security of its members. As a Target Benefit Plan, it is designed to provide reliable pensions and various benefits, including pre-retirement, death, and termination benefits, which are essential for safeguarding the welfare of staff members throughout different stages of their careers and beyond.
With its structured revenue sources, including contributions from both members and the university, the UBC SPP ensures a steady flow of resources to meet its obligations. This financial framework not only supports retirees but also strengthens the overall stability of the university community by fostering a sense of security among current and future staff members.
By fulfilling its mission to provide essential benefits, the UBC Staff Pension Plan enhances the quality of life for its members, promotes long-term financial planning, and contributes to the retention and satisfaction of employees within the university. Its impact extends beyond individual members, reinforcing the university's commitment to supporting its workforce and maintaining a robust educational environment.
This information is meant to be a general summary of University Of B C Staff Pension Plan. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $100,745,326
- Program Service Revenue: $119,606,485
- Gross Receipts: $220,351,811
Assets and Liabilities:
- Total Assets: $2,351,290,352
- Total Liabilities: $5,084,432
- Net Assets: $2,346,205,920
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Members' contributions
Revenue
$49,072,399
University's contributions
Revenue
$70,459,505
Transfer from Other Plans
Revenue
$74,581
Organization Details
Founding Year
1972
Phone
(604) 822-8986Principal Officer
Derrick Johnstone
Website
www.staff.pensions.ubc.ca/NTEE Category
Code: Y30 - Mutual benefit
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