Blue Cross Blue Shield Association
- Assets
- $823.2m
- Revenue
- $780.0m
- Investments
- $171.0m
- Employees
- 1,348
- Location
- Chicago, IL
- Founding
- 02/1958
- Data as of
- 12/2021
- EIN
- 13-5656874
Organization Overview
Blue Cross Blue Shield Association is located in Chicago, IL. The organization was established in 1958. According to its NTEE Classification (E80) the organization is classified as: Health (General & Financing), under the broad grouping of Health Care and related organizations. As of 12/2021, Blue Cross Blue Shield Association employed 1,348 individuals. This organization is the central organization for a national or regional group of organizations. Blue Cross Blue Shield Association is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Blue Cross Blue Shield Association generated $780.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $705.4m during the year ending 12/2021. While expenses have increased by 4.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
SEE SCHEDULE O
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott P Serota President And CEO | OfficerTrustee | 40 | $19,779,370 |
Kim Keck President And CEO | OfficerTrustee | 40 | $2,607,641 |
Robert J Kolodgy Jr Executive Vice President | Officer | 40 | $2,492,436 |
Jennifer Vachon Executive Vice President | Officer | 40 | $2,465,987 |
William S Nehs Senior Vice President | Officer | 40 | $1,296,368 |
Justine Handelman Senior Vice President | Officer | 40 | $1,044,464 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Infosys Public Services Inc Business Consulting | 12/30/21 | $18,327,484 |
Tech Mahindra Technologies Inc Info Technology | 12/30/21 | $11,416,760 |
Ust Global Inc Info Technology | 12/30/21 | $27,590,156 |
Alegeus Technologies Llc Info Technology | 12/30/21 | $10,735,639 |
Kirkland Ellis Legal Services | 12/30/21 | $11,343,004 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $764,438,846 |
| Investment income | $4,441,064 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,186,347 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $779,983,196 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $46,836,838 |
| Compensation of current officers, directors, key employees. | $18,781,842 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $164,315,120 |
| Pension plan accruals and contributions | $15,244,737 |
| Other employee benefits | $7,029,971 |
| Payroll taxes | $13,377,715 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,470,045 |
| Fees for services: Accounting | $1,699,472 |
| Fees for services: Lobbying | $3,715,465 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $222,670,347 |
| Advertising and promotion | $80,631,347 |
| Office expenses | $7,536,390 |
| Information technology | $70,811,553 |
| Royalties | $0 |
| Occupancy | $13,114,370 |
| Travel | $392,981 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $308,715 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,970,892 |
| Insurance | $8,487,935 |
| All other expenses | $0 |
| Total functional expenses | $705,382,676 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,527,245 |
| Savings and temporary cash investments | $478,671,250 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $64,509,202 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $26,626,551 |
| Net Land, buildings, and equipment | $17,900,040 |
| Investments—publicly traded securities | -$34 |
| Investments—other securities | $171,005,302 |
| Investments—program-related | $0 |
| Intangible assets | $17,977,416 |
| Other assets | $45,032,227 |
| Total assets | $823,249,199 |
| Accounts payable and accrued expenses | $127,194,415 |
| Grants payable | $0 |
| Deferred revenue | $6,462,235 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $450,807,607 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $130,115,679 |
| Total liabilities | $714,579,936 |
| Net assets without donor restrictions | $108,669,263 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $823,249,199 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Blue Cross Blue Shield Association has recieved totaling $1,261,110.
| Awarding Organization | Amount |
|---|---|
Scripps Research Institute La Jolla, CA PURPOSE: GRANTS FOR SCIENTIFIC RESEARCH | $1,261,110 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Delta Dental Of Illinois Naperville, IL | $236,756,385 | $891,090,813 |
Blue Cross Blue Shield Association Chicago, IL | $823,249,199 | $779,983,196 |
Chorus Community Health Plans Inc Milwaukee, WI | $219,109,708 | $426,722,132 |
Delta Dental Of Iowa Johnston, IA | $171,274,321 | $210,642,742 |
Indiana University Health Plans Nfp Inc Indianapolis, IN | $55,412,016 | $150,612,935 |
Delta Dental Of Kentucky Inc Louisville, KY | $125,956,305 | $163,900,825 |
Union Health Service Inc Chicago, IL | $42,170,759 | $88,933,727 |
Samaritan Ministries International Peoria, IL | $57,762,652 | $49,461,493 |
Quartz Health Plan Mn Corporation Madison, WI | $12,772,052 | $31,014,352 |
Delta Dental Plans Association Oak Brook, IL | $18,113,714 | $30,001,197 |
Ahs Midwest Management Inc Bolingbrook, IL | $1,065,226 | $4,831,661 |
Oeu-965 Health Benefit Plan Springfield, IL | $22,470,499 | $12,801,499 |