North Dakota Grain Dealers Association Benefit Plan And Trust
- Assets
- $5.9m
- Revenue
- $17.6m
- Investments
- $1.8m
- Employees
- 0
- Location
- Fargo, ND
- Founding
- 05/1995
- Data as of
- 12/2021
- EIN
- 45-0433738
Organization Overview
North Dakota Grain Dealers Association Benefit Plan And Trust is located in Fargo, ND. The organization was established in 1995. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Dakota Grain Dealers Association Benefit Plan And Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, North Dakota Grain Dealers Association Benefit Plan And Trust generated $17.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $18.1m during the year ending 12/2021. While expenses have increased by 7.9% 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
TO PROVIDE WELFARE BENEFITS TO EMPLOYEES AND THEIR DEPENDENTS WHOSE EMPLOYERS ARE MEMBERS OF THE NORTH DAKOTA GRAIN DEALERS ASSOCIATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING PAYMENTS FOR BENEFITS OF MEMBERS INCLUDING HEALTH, VISION AND DENTAL BENEFITS. THE PLAN SERVICED 1,161 CONTRACTS AT THE BEGINNING OF THE YEAR AND 1,130 AT THE END OF THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith Brandt Chairman | OfficerTrustee | 1 | $0 |
Stuart Letcher Secretary | OfficerTrustee | 2 | $0 |
Rick Talbott Committeeman | Trustee | 0.5 | $0 |
Scott Ostlie Committeeman | Trustee | 0.5 | $0 |
Kevin Moore Committeeman | Trustee | 0.5 | $0 |
Jared Myers Committeeman | Trustee | 0.5 | $0 |
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 | $17,441,283 |
| Investment income | $137,533 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,578,816 |
| 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 | $13,790,674 |
| 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 | $0 |
| Fees for services: Accounting | $14,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $61,108 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $10,297 |
| All other expenses | $2,469 |
| Total functional expenses | $18,061,865 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $6,352 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,918,703 |
| Investments—other securities | $1,824,321 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $191,288 |
| Total assets | $5,940,664 |
| Accounts payable and accrued expenses | $1,532,634 |
| 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 | $1,532,634 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $4,408,030 |
| 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 | $5,940,664 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Billings Clinic Employee Benefit Trust Billings, MT | $23,119,381 | $46,458,176 |
North Dakota Grain Dealers Association Benefit Plan And Trust Fargo, ND | $5,940,664 | $17,578,816 |
Nd Rec Benefit Trust Mandan, ND | $7,495,679 | $17,736,079 |
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Twin City Sprinkler Fitters Health Care Plan Minneapolis, MN | $17,391,884 | $12,071,213 |
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Regency Managed Properties Benefit Trust Sioux Falls, SD | $41,424 | $8,200,839 |
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Greater Metropolitan Hotel Employer Employees Health & Welfare Plan Bloomington, MN | $11,816,218 | $3,285,554 |
Associated Health Assurance Ltd Robbinsdale, MN | $14,037,744 | $4,252,648 |
Minnesota Automobile Assigned Claims Bureau Osseo, MN | $7,805,733 | $2,067,513 |