Oeu-965 Health Benefit Plan
- Assets
- $24.2m
- Revenue
- $15.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Springfield, IL
- Founding
- 07/1966
- Data as of
- 10/2023
- EIN
- 36-6121856
Organization Overview
Oeu-965 Health Benefit Plan is located in Springfield, IL. The organization was established in 1966. According to its NTEE Classification (E80) the organization is classified as: Health (General & Financing), under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oeu-965 Health Benefit Plan is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 10/2023, Oeu-965 Health Benefit Plan generated $15.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $13.1m during the year ending 10/2023. While expenses have increased by 1.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH AND TEMPORARY DISABILITY BENEFITS TO QUALIFIED PARTICIPANTS FOR WHOM REQUIRED CONTRIBUTIONS HAVE BEEN MADE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HEALTH AND TEMPORARY DISABILITY BENEFITS TO ELIGIBLE MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Rhoades Chairman | OfficerTrustee | 1 | $0 |
Robert Bruner Trustee | Trustee | 1 | $0 |
Michael Mcquay Trustee | Trustee | 1 | $0 |
Arnold Chris Trustee | Trustee | 1 | $0 |
Truman Flatt Trustee | Trustee | 1 | $0 |
Steve Halverson Secretary/treasurer | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Blue Shield Of Illinois Process Claims | 10/30/23 | $257,390 |
Benefits Management Group Inc Manage The Books For The Health Benefit | 10/30/23 | $239,200 |
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 | $14,866,398 |
| Investment income | $580,941 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $293,505 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,740,844 |
| 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 | $11,337,397 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,041 |
| Fees for services: Accounting | $53,545 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $116,998 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $17,186 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,195 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,170 |
| All other expenses | $23,619 |
| Total functional expenses | $13,129,226 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,593,137 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,528,861 |
| 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 | $3,050 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $20,024,218 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $54,274 |
| Total assets | $24,203,540 |
| Accounts payable and accrued expenses | $100,996 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $0 |
| Total liabilities | $100,996 |
| Net assets without donor restrictions | $0 |
| 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 | $24,102,544 |
| Total liabilities and net assets/fund balances | $24,203,540 |