Nd Banks Benefit Tr
- Assets
- $8.2m
- Revenue
- $19.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Bismarck, ND
- Founding
- 10/2014
- Data as of
- 12/2021
- EIN
- 46-7521485
Organization Overview
Nd Banks Benefit Tr is located in Bismarck, ND. The organization was established in 2014. According to its NTEE Classification (Y44) the organization is classified as: Voluntary Employees Beneficiary Associations Government), 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. ND Banks Benefit Tr 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, ND Banks Benefit Tr generated $19.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.2% each year . All expenses for the organization totaled $18.1m during the year ending 12/2021. While expenses have increased by 19.8% 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
TO PROVIDE AND MAINTAIN THOSE BENEFITS WHICH THE BENEFIT PLAN TRUSTEES, IN ITS SOLE DISCRETION, DETERMINES FROM TIME-TO-TIME SHALL BE PROVIDED AND AS ARE SPECIFIED IN THE PLAN DOCUMENT AND FOR PAYMENT, IN ACCORDANCE WITH ERISA, OF REASONABLE EXPENSES INCURRED IN THE ADMINISTRATION OF THE PLAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS OF DECEMBER 31, 2021, THE ND BANKS BENEFIT TRUST (NDBBT) COVERED APPROXIMATELY 3,057 PERSONS FOR HEALTH INSURANCE. IN ADDITION, APPROXIMATELY 1,625 PERSONS WERE COVERED FOR DENTAL INSURANCE AND APPROXIMATELY 1,186 WERE COVERED FOR VISION INSURANCE AT THE END OF THE YEAR.THE NDBBT COMPLETED AND SENT OUT THE FORM 1095B'S TO THE EMPLOYEES OF THE PARTICIPATING BANKS WITH UNDER 50 EMPLOYEES - AND ELECTRONICALLY FILED THE CORRESPONDING FORM 1094C WITH THE IRS. THE TRUST ALSO PROVIDED GUIDANCE ON COMPLETION OF THE FORMS 1095C AND 1094C FOR THE PARTICIPATING BANKS WITH OVER 50 EMPLOYEES.THE NDBBT CONTINUES TO PROMOTE AND ENCOURAGE HEALTHY LIFESTYLES THROUGH MONTHLY ARTICLES PUBLISHED IN BOTH THE ICBND AND NDBA MONTHLY MAGAZINES AND PROMOTING PARTICIPATION IN BLUE CROSS BLUE SHIELD'S WELLNESS SUMMITS AND WELLNESS PROGRAM TRAININGS.THE NDBBT (WORKING THROUGH BROWN & BROWN) OFFERS ANCILLARY BENEFITS (LIFE, AD&D, LTD, STD, VOLUNTARY LIFE) TO NORTH DAKOTA BANKS.THE ND BANKS BENEFIT TRUST HAD 48 PARTICIPATING BANKS AND 2 BANKING ASSOCIATIONS IN THE YEAR FROM JANUARY 1, 2021 - DECEMBER 31, 2021.
NDBBT CONTRACTED WITH A NEW BROKER TO PROVIDE ACCESS TO MORE INNOVATIVE BENEFITS COMMUNICATION TOOLS SUCH AS ON-DEMAND BRAINSHARK TRAINING VIDEOS AND A MOBILE APP THAT ALLOWS EMPLOYEES TO LOAD BANK SPECIFIC BENEFITS INFORMATION ON THEIR PHONE AND OTHER DEVICES. BANK EMPLOYEES ALSO HAVE ACCESS TO MEDICARE SPECIALISTS THROUGH THE AEVO MEDICARE PROGRAM TO HELP THEM ENROLL AND EXPLORE THE MANY OPTIONS AVAILABLE TO THEM.
NDBBT OFFERS THE LEARN TO LIVE MENTAL HEALTH PROGRAM THROUGH BCBSND. THIS IS AN ON-LINE PROGRAM THAT IS PROVIDED TO BANK EMPLOYEES AND THEIR FAMILIES (13 AND OLDER) AT NO COST. LEARN TO LIVE OFFERS PROVEN ON-LINE PROGRAMS ADDRESSING STRESS, DEPRESSION, SOCIAL ANXIETY, INSOMNIA AND SUBSTANCE USE WHICH CAN BE ACCESSED ANYTIME ANYWHERE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ilene Baker Treasurer | OfficerTrustee | 0.1 | $0 |
Sarah Getzlaff Vice Chairman | OfficerTrustee | 0.1 | $0 |
Nancy Petersen Chairman | OfficerTrustee | 0.1 | $0 |
Todd Heilman Trustee | Trustee | 0.1 | $0 |
Rick Beall Jr Trustee | Trustee | 0.1 | $0 |
Carrie Zubke Trustee | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Middaugh And Associates Broker Fees (Jan-may) | 12/30/21 | $113,301 |
Brown & Brown (Fka Hays Companies) Broker Fees (Jun-dec) | 12/30/21 | $100,167 |
Ndba Services Administrative Fees | 12/30/21 | $101,757 |
Noridian Mutual Insurance Company Administrative Fees | 12/30/21 | $1,734,296 |
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 | $19,615,259 |
| Investment income | $7,014 |
| 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 | $19,622,273 |
| 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 | $13,948,719 |
| 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 | $1,836,053 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $205,276 |
| Advertising and promotion | $2,437 |
| Office expenses | $1,539 |
| 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 | $40 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $487 |
| All other expenses | $1,828 |
| Total functional expenses | $18,101,195 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,099,657 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,095,942 |
| 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 | $2,115 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,197,714 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| 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 | $8,197,714 |
| Total liabilities and net assets/fund balances | $8,197,714 |