STRATEGY STUDIO / PUBLIC DATA EXPLORER

CLEVELAND-CLIFFS STEEL LLC VEBA TRUST: Form 990, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
CLEVELAND-CLIFFS STEEL LLC VEBA TRUST (EIN 20-0689362)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-11-10
IRS object ID
202143149349300609
Schema version
2020v4.1
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2021-11-10T04:15:02-06:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt
Return Type990ReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN200689362EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1ARCELORMITTAL USA LLC VEBA MASTER TRUSTBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlARCEBusinessNameControlTxt
Phone3128993400PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11 SOUTH DEARBORN MC 6-019AddressLine1Txt
CityCHICAGOCityNm
State AbbreviationILStateAbbreviationCd
ZIP60603ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonCHRISTINE FLEPSPersonNm
Person TitleDIRECTOR OF PENSIONS & INVESTMENTSPersonTitleTxt
Phone3128993400PhoneNum
Signature2021-11-09SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstCHRISTINEPersonFirstNm
Person LastFLEPSPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer0TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Name ChangeYes (X)NameChangeInd
Principal OfficerCHRISTINE FLEPSPrincipalOfficerNm
Gross Receipts$174,898,708GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Type Of Organization TrustYes (X)TypeOfOrganizationTrustInd
Legal Domicile StateNYLegalDomicileStateCd
Activity Or MissionTHE TRUST IS THE FUNDING VEHICLE FOR THE VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION FOR THE ARCELORMITTAL EMPLOYEES (FORMERLY USWA EMPLOYEES OF BETHLEHEM STEEL AND LTV STEEL)ActivityOrMissionDesc
Voting Members Governing Body1VotingMembersGoverningBodyCnt
Voting Members Independent1VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$21,541,222PYProgramServiceRevenueAmt
CY Program Service Revenue$10,385,000CYProgramServiceRevenueAmt
PY Investment Income$16,661,819PYInvestmentIncomeAmt
CY Investment Income$23,519,097CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$38,203,041PYTotalRevenueAmt
CY Total Revenue$33,904,097CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$70,205,767PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$65,415,807CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$25,030PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$18,814CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$1,834,417PYOtherExpensesAmt
CY Other Expenses$1,744,248CYOtherExpensesAmt
PY Total Expenses$72,065,214PYTotalExpensesAmt
CY Total Expenses$67,178,869CYTotalExpensesAmt
PY Revenues Less Expenses-$33,862,173PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$33,274,772CYRevenuesLessExpensesAmt
Total Assets BOY$453,449,265TotalAssetsBOYAmt
Total Assets EOY$429,478,123TotalAssetsEOYAmt
Total Liabilities BOY$2,557,715TotalLiabilitiesBOYAmt
Total Liabilities EOY$2,576,351TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$450,891,550NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$426,901,772NetAssetsOrFundBalancesEOYAmt
MissionNONEMissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$65,415,807ExpenseAmt
DescTHE TRUST IS THE FUNDING VEHICLE FOR THE VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION FOR THE ARCELORMITTAL EMPLOYEES (FORMERLY USWA EMPLOYEES OF BETHLEHEM STEEL AND LTV STEEL)Desc
Total Program Service Expenses$65,415,807TotalProgramServiceExpensesAmt
Described In Section501c30DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment0ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members1GoverningBodyVotingMembersCnt
Independent Voting Member1IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy0ConflictOfInterestPolicyInd
Whistleblower Policy0WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1CLEVELAND-CLIFFS STEEL LLC (FKA ARCELORMITTAL USA LLC)BusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone3128993400PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11 SOUTH DEARBORN MC 6-019AddressLine1Txt
CityCHICAGOCityNm
State AbbreviationILStateAbbreviationCd
ZIP60603ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (2 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtInstitutional TrusteeInstitutionalTrusteeIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
THE BANK OF NEW YORK MELLON
INST TRUSTEE5.00Yes (X)$12,500$0$0
JPMORGAN CHASE BANK NA
INST TRUSTEE5.00Yes (X)$6,314$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$18,814TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
Info In Schedule O Part VIIIYes (X)InfoInScheduleOPartVIIIInd

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescEMPLOYEE CONTRIBUTIONDesc
Business900099BusinessCd
Total Revenue Column$10,385,000TotalRevenueColumnAmt
Related Or Exempt Func Income$10,385,000RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$10,385,000TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$8,780,161TotalRevenueColumnAmt
Exclusion$8,780,161ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$155,733,547SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$140,994,611SecuritiesAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$14,738,936SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$14,738,936TotalRevenueColumnAmt
Exclusion$14,738,936ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$33,904,097TotalRevenueColumnAmt
Related Or Exempt Func Income$10,385,000RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$23,519,097ExclusionAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Benefits To Members BenefitsToMembersGrp

FieldValueIRS element (for citing)
Total$65,415,807TotalAmt
Program Services$65,415,807ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$18,814TotalAmt
Management And General$18,814ManagementAndGeneralAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$371,304TotalAmt
Management And General$371,304ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (2 entries)

DescDescTotalTotalAmtManagement And GeneralManagementAndGeneralAmt
PLAN ADMINISTRATOR FEE$1,327,627$1,327,627
FEES FOR SERVICES RENDE$45,317$45,317

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$67,178,869TotalAmt
Program Services$65,415,807ProgramServicesAmt
Management And General$1,763,062ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
EOY$15EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$1,115,014BOYAmt
EOY$1,572,162EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$452,334,251BOYAmt
EOY$427,905,946EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$453,449,265BOYAmt
EOY$429,478,123EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$2,557,715BOYAmt
EOY$2,576,351EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$2,557,715BOYAmt
EOY$2,576,351EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$450,891,550BOYAmt
EOY$426,901,772EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$450,891,550BOYAmt
EOY$426,901,772EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$453,449,265BOYAmt
EOY$429,478,123EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$33,274,772ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$9,284,994OtherChangesInNetAssetsAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS Audited0FSAuditedInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11BA FIDUCIARY DUTY IS OWED TO THE VEBA TRUST. DUTIES INCLUDE COMPLYING WITH THE TERMS AND CONDITIONS OF THE TRUST INSTRUMENT, IN CONJUNCTION WITH THE INTERNAL POLICIES AND PROCEDURES OF THE TRUSTEE. THE PLAN SPONSOR HAS REVIEWED THE FORM 990.
FORM 990, PART VI, SECTION C, LINE 19THE TRUST MAKES AVAILABLE UPON REQUEST DOCUMENTS SUBMITTED WITH FORM 1024.
PART VIII - INVESTMENT INCOMEINTEREST $6,263,353 DIVIDEND 2,516,808 TOTAL 8,780,161
PART IX, BENEFITS PAID TO OR FOR MEMBERSBENEFIT PAYMENTS $43,935,825 INSURANCE PREMIUM PD 21,479,982 TOTAL 65,415,807

Schedule R IRS990ScheduleR

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (2 entries)

Primary ActivitiesPrimaryActivitiesTxtEntity TypeEntityTypeTxtShare Of Total IncomeShareOfTotalIncomeAmtControlled OrganizationControlledOrganizationIndShare Of EOY AssetsShareOfEOYAssetsAmt
ARCELORMITTAL
SPONSORING EMPLOYERC$1000
CLEVELAND-CLIFFS STEEL LLC
SPONSORING EMPLOYERC0$100
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org0GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd