Special Agents Mutual Benefit
- Assets
- $232.8m
- Revenue
- $241.8m
- Investments
- $0.0
- Employees
- 56
- Location
- Rockville, MD
- Founding
- 01/1950
- Data as of
- 12/2021
- 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 12/2021, Special Agents Mutual Benefit employed 56 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 12/2021, Special Agents Mutual Benefit generated $241.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $240.1m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.4%) per year over the past 7 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
2021
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 110,468 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Walter E Wilson Executive Director | Officer | 40 | $575,711 |
Pamela Cummings Deputy Executive Director | Officer | 40 | $312,346 |
Laurence Gross Senior Program Administrator | 40 | $222,529 | |
Pamela Lynch Controller | Officer | 40 | $215,504 |
William Martin Manager, It | 40 | $189,319 | |
John R Martucci Controller(thru 7/2021) | Officer | 40 | $182,241 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cigna Healthcare Health Network Admin | 12/30/21 | $4,265,579 |
Express Scripts Hld Co Pharmacy Benefit Mgr | 12/30/21 | $1,908,530 |
Change Healthcare Printing & Mailing | 12/30/21 | $608,111 |
Ram Technologies Inc Software Maintenance | 12/30/21 | $513,445 |
Counterpoint Software Inc Software Support | 12/30/21 | $474,468 |
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 | $238,313,662 |
| Investment income | $2,798,305 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $708,516 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $241,820,483 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $220 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $219,887,342 |
| Compensation of current officers, directors, key employees. | $1,456,150 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,406,001 |
| Pension plan accruals and contributions | $968,446 |
| Other employee benefits | $786,786 |
| Payroll taxes | $393,843 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $57,808 |
| Fees for services: Accounting | $201,494 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $385,177 |
| Fees for services: Other | $7,719,220 |
| Advertising and promotion | $0 |
| Office expenses | $1,104,404 |
| Information technology | $1,618,152 |
| Royalties | $0 |
| Occupancy | $170,657 |
| Travel | $17,132 |
| 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 | $368,495 |
| Insurance | $144,198 |
| All other expenses | $0 |
| Total functional expenses | $240,083,270 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $525 |
| Savings and temporary cash investments | $65,012,973 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,244,959 |
| 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 | $667,240 |
| Net Land, buildings, and equipment | $1,752,887 |
| Investments—publicly traded securities | $143,837,323 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,315,804 |
| Total assets | $232,831,711 |
| Accounts payable and accrued expenses | $2,663,099 |
| 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 | $67,094,029 |
| Total liabilities | $69,757,128 |
| 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 | $163,074,583 |
| Total liabilities and net assets/fund balances | $232,831,711 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Board Of Education Of Montgomery County Employee Benefit Trust Fund Rockville, MD | $76,472,586 | $526,148,010 |
Allegheny County Schools Health Insurance Consortium Pittsburgh, PA | $120,102,704 | $344,452,160 |
Special Agents Mutual Benefit Rockville, MD | $232,831,711 | $241,820,483 |
Compass Rose Benefits Group Reston, VA | $127,142,865 | $233,746,948 |
Armed Forces Benefit Association Alexandria, VA | $212,566,568 | $157,888,211 |
Transit Employees Health And Welfare Plan Forestville, MD | $79,100,100 | $161,587,014 |
Nea Members Insurance Trust Gaithersburg, MD | $192,678,262 | $114,296,496 |
Local 22 Phila Firefighters Health Fund Philadelphia, PA | $25,332,447 | $68,164,682 |
Central Susquehanna Region School Employees Health And Welfare Trust Milton, PA | $32,412,331 | $60,881,164 |
Worldwide Assurance For Employees Of Public Agencies Inc Falls Church, VA | $165,780,632 | $47,586,387 |
Military Benefit Association Chantilly, VA | $29,815,084 | $33,634,241 |
National Hockey League Players Health And Benefits Fund Pittsburgh, PA | $40,888,316 | $44,770,762 |