Special Agents Mutual Benefit
- Assets
- $227.4m
- Revenue
- $248.3m
- Investments
- $0.0
- Employees
- 63
- Location
- Rockville, MD
- Founding
- 01/1950
- Data as of
- 12/2023
- EIN
- 52-1074154
Organization Overview
Special Agents Mutual Benefit is located in Rockville, MD. The organization was established in 1950. 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. As of 12/2023, Special Agents Mutual Benefit employed 63 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Special Agents Mutual Benefit is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2023, Special Agents Mutual Benefit generated $248.3m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $265.7m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.9%) per year over the past 8 years. 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 SPONSOR AND ADMINISTER THE SAMBA BENEFIT PLAN FOR ITS MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPONSORED HEALTH, GROUP TERM LIFE, DISABILITY, ACCIDENT, DENTAL AND VISION BENEFITS FOR APPROXIMATELY 113,760 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Walter E Wilson Executive Director Emeritus | Officer | 40 | $537,174 |
Pamela Cummings Acting Executive Director | Officer | 40 | $374,324 |
Pamela Lynch Deputy Executive Director | Officer | 40 | $286,506 |
Laurence Gross Senior Program Administrator | 40 | $261,629 | |
Jerry Brown Manager, It | 40 | $218,743 | |
William Martin Manager, It | 40 | $228,929 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Express Scripts Hld Co Pharmacy Benefit Mgr | 12/30/23 | $1,654,131 |
Cigna Healthcare Health Network Admin | 12/30/23 | $4,349,465 |
Mainline Information Systems Inc Software/equip Maint | 12/30/23 | $910,086 |
Ram Technologies Inc Software Maintenance | 12/30/23 | $551,210 |
Change Healthcare Printing & Mailing | 12/30/23 | $765,651 |
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 | $244,429,028 |
| Investment income | $4,608,031 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$735,021 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $248,302,038 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $243,668,109 |
| Compensation of current officers, directors, key employees. | $1,396,263 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,427,445 |
| Pension plan accruals and contributions | $988,525 |
| Other employee benefits | $1,022,012 |
| Payroll taxes | $458,880 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $198,722 |
| Fees for services: Accounting | $227,320 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $478,193 |
| Fees for services: Other | $7,226,855 |
| Advertising and promotion | $23,093 |
| Office expenses | $1,257,818 |
| Information technology | $1,931,997 |
| Royalties | $0 |
| Occupancy | $280,231 |
| Travel | $66,381 |
| 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 | $460,667 |
| Insurance | $163,131 |
| All other expenses | $0 |
| Total functional expenses | $265,727,397 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $525 |
| Savings and temporary cash investments | $51,481,571 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,405,927 |
| 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 | $987,083 |
| Net Land, buildings, and equipment | $2,165,686 |
| Investments—publicly traded securities | $143,722,634 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,656,722 |
| Total assets | $227,420,148 |
| Accounts payable and accrued expenses | $3,218,762 |
| 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 | $49,823,852 |
| Total liabilities | $53,042,614 |
| 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 | $174,377,534 |
| Total liabilities and net assets/fund balances | $227,420,148 |