Oeu-965 Health Benefit Plan
- Assets
- $22.5m
- Revenue
- $12.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Springfield, IL
- Founding
- 07/1966
- Data as of
- 10/2020
- 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 10/2020, Oeu-965 Health Benefit Plan generated $12.8m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $13.1m during the year ending 10/2020. 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
2020
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bret Scaggs Chairman | OfficerTrustee | 1 | $132,162 |
Jason Rhoades Trustee | Trustee | 1 | $124,613 |
Michael Mcquay Trustee | Trustee | 1 | $124,613 |
Steve Halverson Secretary/treasurer | OfficerTrustee | 2 | $0 |
Truman Flatt Trustee | Trustee | 1 | $0 |
Robert Bruner Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Benefits Management Group Inc Manage The Books For The Health Benefit | 10/30/20 | $208,400 |
Blue Cross Blue Shield Of Illinois Process Claims | 10/30/20 | $221,706 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $529,009 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $81,497 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,801,499 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $12,546,884 |
| 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 | $25,347 |
| Fees for services: Accounting | $9,898 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $108,781 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $24,732 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,065 |
| 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 | $5,445 |
| All other expenses | $0 |
| Total functional expenses | $13,121,104 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,332,841 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,273,190 |
| 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 |
| Investments—publicly traded securities | $18,805,234 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $56,184 |
| Total assets | $22,470,499 |
| Accounts payable and accrued expenses | $1,010,617 |
| 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 | $1,010,617 |
| 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 |
| Total liabilities and net assets/fund balances | $21,459,882 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Indiana Comprehensive Health Insurance Assoc Indianapolis, IN | $0 | $0 |
Iowa Life And Health Insurance Guaranty Association Des Moines, IA | $11,629,327 | $10,389,227 |
Union Sponsored Health Benefits Tr Milwaukee, WI | $0 | $311 |
Iowa Prescription Drug Corporation Grimes, IA | $1,322,646 | $8,932,847 |
Truman Medical Center Professional And General Liability Self-Ins Tr Kansas City, MO | $25,601,158 | $4,849,990 |
Missouri Health Connection Columbia, MO | $3,938,153 | $4,470,811 |
Wisconsin Statewide Health Information Network Inc Madison, WI | $3,172,138 | $5,065,926 |
Hoffer Plastics Corporation Health Benefit Plan Trust South Elgin, IL | -$29,195 | $3,942,624 |