2025-05-07T10:01:26-05:00 2024-06-30 346565596 ERNST & YOUNG US LLP 2100 ONE PPG PLACE PITTSBURGH PA 15222 990 2023-07-01 161457001 CORNELL MEDICAL BENEFITS TRUST CORN 4127686324 500 FIRST AVE P7-PFSC-03-Z PITTSBURGH PA 15219 PNC BANK N A TAX MANAGER 4127686324 2025-05-02 true true JASON BELOT P00183464 3302555814 2025-05-02 2023 2025-03-06 01:10:19Z X CHRISTINA HRITZ PNC BANK 500 FIRST AVE P7-PFSC-03-Z PITTSBURGH PA 15219 47905111 false X N/A X 1994 NY AS REQUIRED BY ITS INSTRUMENT, THIS TRUST ASSISTS CORNELL UNIVERSITY IN PROVIDING MEDICAL BENEFITS TO CORNELL UNIVERSITY EMPLOYEES. 1 0 0 0 0 0 0 -37648300 13313991 0 -37648300 13313991 0 0 323212 503117 0 0 214499 421218 537711 924335 -38186011 12389656 376559315 389841624 0 0 376559315 389841624 X AS REQUIRED BY ITS INSTRUMENT, THIS TRUST ASSISTS CORNELL UNIVERSITY IN PROVIDING MEDICAL BENEFITS TO CORNELL UNIVERSITY EMPLOYEES. false false SEE SCHEDULE O-PART III-4A DESCRIPTION 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 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 false false false false false false false X 1 0 false false false false false true false true true false false true false false false false false false NY X PNC BANK NA 4127686324 500 FIRST AVE P7-PFSC-03-Z PITTSBURGH PA 15219 PNC BANK N A TRUSTEE 1.0 0.0 X 503117 0 0 503117 0 0 1 false false false 11848502 11848502 36056609 34591120 1465489 1465489 1465489 OTHER RECEIPTS 900099 13313991 13313991 503117 100623 402494 206064 206064 state filing fees 1500 1500 foreign taxes paid 213654 213654 924335 102123 822212 0 12004048 6668767 364555267 383172857 376559315 389841624 0 0 X 376559315 389841624 376559315 389841624 376559315 389841624 X 12389656 892653 X false false false X X 1 CORNELL UNIVERSITY 150532082 2 true 0 0 1 0 0 true false false false false false false false false false false false false false false true false 0 0 0 0 0 0 FORM 990, PART VI, SECTION B , LINE 12 THE TRUST DOES NOT HAVE A CONFLICT OF INTEREST POLICY; HOWEVER, THE GOVERNING INSTRUMENTS AND STATE LAW IMPOSE LIMITATIONS ON THE POWERS OF TRUSTEES THAT THE TRUSTEE STRICTLY FOLLOWS. ADDITIONALLY, CORNELL UNIVERSITY MAINTAINS CONTROL OVER THE TRUST AND HAS THE AUTHORITY TO REMOVE THE TRUSTEE. ACCORDINGLY, THE UNIVERSITY WILL ENSURE THAT ANY COMPENSATION IS REASONABLE USING THE STANDARDS IT CURRENTLY APPLIES FOR SETTING REASONABLE COMPENSATION FOR ITS OTHER ACTIVITIES. FORM 990 PART VI, SECTION C , LINE 19 THE TRUSTEE MAINTAINS A CLOSE AND CONTINUOUS WORKING RELATIONSHIP WITH THE OFFICERS OF THE SUPPORTING ORGANIZATION, CORNELL UNIVERSITY. THE GOVERNING DOCUMENTS ARE NOT AVAILABLE TO THE GENERAL PUBLIC, BUT HAVE BEEN GIVEN AND ARE AVAILABLE TO THE GENERAL PUBLIC BUT HAVE BEEN GIVEN AND ARE AVAILABLE TO ALL INTERESTED PARTIES SUCH AS BENEFICIARIES, TRUSTEES, ETC. FORM 990 PART VI, SECTION C -CONTINUED THE GOVERNING DOCUMENTS AND STATE LAW IMPOSE LIMITATIONS OF TRUSTEE POWERS THAT PNC BANK, N.A. DOES NOT HAVE A PUBLIC CONFLICT OF INTEREST POLICY. COPIES OF THE TAX RETURNS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART III-PROGRAM SERVICE -LINE 4A THE CORNELL MEDICAL BENEFITS TRUST PROVIDES MEDICAL BENEFITS TO ITS ELIGIBLE RETIRED ENDOWED EMPLOYEES AT THE ITHACA, CAMPUS, WHO DURING THEIR PERIOD OF ACTIVE SERVICE, WERE INSTRUMENTAL IN CARRYING OUT THE EDUCATIONAL AND RESEARCH MISSION OF THE UNIVERSITY. FORM 990 PART III-PROGRAM SERVICE -LINE 4 A CONTINUED THIS IS DONE IN PART THROUGH A SELF FUNDED MEDICAL REIMBURSEMENT PLAN. THE TRUST WAS ESTABLISHED BY THE CORNELL UNIVERSITY EXCLUSIVELY FOR THE SUPPORT AND BENEFIT OF THE UNIVERSITY TO ASSIST IN PROVIDING RETIREE MEDICAL BENEFITS UNDER THIS PLAN. FORM 990 PART III, PROGRAM SERVICE L 4A -CONTINUED THE TRUST CAN ONLY BE PAID TO OR ON BEHALF OF THE UNIVERSITY FOR PURPOSES OF REIMBURSING MEDICAL CLAIMS THAT THE UNIVERSITY WOULD OTHERWISE PAY DIRECTLY. DUE TO THE UNPREDICTABILITY ABOUT THE TIMING OF THE CLAIMS, THERE IS NO REQUIREMENT THAT INCOME EARNED IN A PARTICULAR YEAR MUST BE PAID IN THAT YEAR. EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 7a PER THE TRUST AGREEMENT, THE NUMBER OF TRUSTEES SHALL BE ONE, UNLESS AND UNTIL CORNELL UNIVERSITY, AS DONOR, APPOINTS ONE OR MORE ADDITIONAL OR SUBSTITUTE TRUSTEES BY WRITTEN INSTRUMENTS SIGNED AND ACKNOWLEDGED. ONLY THE DONOR THAS THE OWNER TO REMOVE THE TRUSTEE UNDER THE AGREEMENT UPON AT LEAST 60 DAYS NOTICE IN WRITING. AS OF JUNE 30, 2022 PNC BANK, N.A. SERVES AS SOLE TRUSTEE OF THE CORNELL MEDICAL BENEFITS TRUST. FORM 990, PAGE 6, PART VI, LINE 11-DESCRIPTION OF PROCESS FOR REVIEW PNC BANK, N.A. AS TRUSTEE, REVIEWS ALL UNDERLYING MONETARY AND FACTUAL INFORMATION BEFORE THE IRS FORM 990 IS FILED. FORM 990, PAGE 6, PART VI, LINE 19 THE TRUSTEE MAINTAINS A CLOSE AND CONTINUOUS WORKING RELATIONSHIP WITH THE OFFICERS OF THE SUPPORTING ORGANIZATION, CORNELL UNIVERSITY. THE GOVERNING DOCUMENTS ARE NOT AVAILABLE TO THE GENERAL PUBLIC, BUT HAVE BEEN GIVEN AND ARE AVAILABLE TO ALL INTERESTED PARTIES SUCH AS BENEFICIARIES, TRUSTEES, ETC. THE GOVERNING DOCUMENTS AND STATE LAW IMPOSE LIMITATIONS OF TRUSTEE POWERS THA PNC BANK, N.A. DOES NOT HAVE A PUBLIC CONFLICT OF INTEREST POLICY. COPIES OF THE TAX RETURNS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. EXPLANATION FOR FORM 990, PART XI, LINE 9 2022 transactions posted in 2023 equal to $46,718 less 2023 transactions posted in 2024 of $57,459 less an adjust to income of $648 less accrued interest paid of $7,698 less variation margin of $208,796 plus $1,120,536 of futures collateral. CORNELL UNIVERSITY 341 PINE TREE ROAD ITHACA NY 14850 150532082 HIGHER EDUCATION NY 501 (c) (3) 2 NA false false false false false false false false false false false false false false false false false false false false