2020-10-19T11:56:07-05:00 2020-06-30 ERNST & YOUNG US LLP 155 N Wacker Drive Chicago IL 60606 990 2019-07-01 161457001 Cornell Medical Benefits Trust % JPMORGAN CHASE BANK NA CORN 8668885157 277 PARK AVENUE 8TH FLOOR NEW YORK NY 10172 SUSAN M BUSIEL VICE PRESIDENT 8668885157 2020-10-15 true JACOB J ZEHNDER P01564049 3128792000 99.46.67.29 36964520202935000020 2020-10-19 P 8A81220519F44EAA60C593B1B6249F692FAF1B2A 01BAD6EA115B3605BA35E275C310E82CC2CC369C 2019 2021-01-29 14:40:06Z JPMORGAN CHASE BANK NA 277 PARK AVENUE 8TH FLOOR NEW YORK NY 10172 44658888 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 5000000 5000000 0 0 26175959 26016401 0 0 31175959 31016401 0 0 0 0 0 0 0 0 0 0 0 0 0 31175959 31016401 265686157 296702558 0 0 265686157 296702558 X AS REQUIRED BY ITS INSTRUMENT, THIS TRUST ASSISTS CORNELL UNIVERSITY IN PROVIDING MEDICAL BENEFITS TO CORNELL UNIVERSITY EMPLOYEES. false false 0 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. THIS IS DONE IN PART THROUGH A SELF-FUNDED MEDICAL REIMBURSEMENT PLAN. THE TRUST WAS ESTABLISHED BY CORNELL UNIVERSITY EXCLUSIVELY FOR THE SUPPORT AND BENEFIT OF THE UNIVERSITY TO ASSIST IN PROVIDING RETIREE MEDICAL BENEFITS UNDER THIS PLAN. 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. 0 true 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 true false false false true 0 0 0 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 JPMORGAN CHASE BANK NA 8668885157 277 PARK AVENUE 8TH FLOOR New York NY 10172 X JPMorgan Chase Bank N Trustee 1.0 0.0 X 0 0 0 0 0 0 0 false false false 0 5000000 5000000 0 25047183 0 0 25047183 0 0 0 0 0 0 0 0 0 0 0 0 0 0 14611705 13642487 969218 969218 0 0 969218 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 31016401 0 0 26016401 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -708039 -336959 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 266394196 297039517 0 0 0 0 0 0 0 0 265686157 296702558 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 265686157 296702558 0 0 0 0 265686157 296702558 265686157 296702558 31016401 X false false false X X 1 CORNELL UNIVERSITY 150532082 2 true 0 0 1 true false false false false false false false false false false false false false false true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED FORM 990, PART VI, SECTION A, 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 HAS THE POWER TO REMOVE THE TRUSTEE UNDER THE AGREEMENT UPON AT LEAST 60 DAYS NOTICE IN WRITING. AS OF JUNE 30, 2020 JPMORGAN CHASE BANK, N.A. SERVES AS THE SOLE TRUSTEE OF THE CORNELL MEDICAL BENEFITS TRUST. Form 990, Part VI, Section B, Line 11 J.P. MORGAN CHASE BANK, N.A., AS TRUSTEE, reviews all underlying monetary and factual information before the IRS Form 990 is filed. FORM 990, PART VI, SECTION B, LINE 12 THE TRUST DOES NOT HAVE A CONFLICT OF INTEREST POLICY; HOWEVER, THE GOVERNING DOCUMENTS 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 supported 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 that J.P. Morgan Chase Bank, N.A. strictly follows. J.P. Morgan Chase Bank, N.A. does not have a public conflict of interest policy. Copies of the tax returns are available to the public upon request. Cornell University 341 Pine Tree Road Ithaca NY 14850 150532082 Higher Edu NY 501(c)(3) 2 NA false false false true false false false false false false false false false false false false false false false Cornell University C 5000000 FMV