North Carolina Medical Society Employee Benefit Trust

Organization Overview

North Carolina Medical Society Employee Benefit Trust is located in Raleigh, NC. The organization was established in 2001. 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. North Carolina Medical Society Employee Benefit 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 Carolina Medical Society Employee Benefit Trust generated $53.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.6%) each year. All expenses for the organization totaled $52.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (9.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Since 2014, North Carolina Medical Society Employee Benefit Trust has awarded 23 individual grants totaling $299,200. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE TRUST IS A FUNDING MECHANISM FOR A MULTIPLE EMPLOYER WELFARE ARRANGEMENT. MEMBERS OF THE NORTH CAROLINA MEDICAL SOCIETY, THEIR EMPLOYEES, AND DEPEDENTS ARE ELIGIBLE TO ENROLL FOR THE HEALTH, DENTAL, AND LIFE BENEFITS OFFERED.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE TRUST PROVIDES HEALTH, DENTAL, AND LIFE INSURANCE BENEFITS TO ELIGIBLE MEMBERS OF THE NORTH CAROLINA MEDICAL SOCIETY AND THEIR EMPLOYEES.


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Board, Officers & Key Employees

Name (title)Compensation
Robert P Gossett MD
Chairman
$3,000
Kenneth A Holt MD
Trustee
$1,000

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Blue Cross Blue Shield Of Nc
Claims Adjudication & Administration
$2,351,619
Mmic Agency Llc
Plan Administration
$1,944,343
Medical Mutual Insurance Co Of Nc
Management & Administration
$1,042,500
Crum & Forsternorth River Insurance
Reinsurance Coverage
$1,058,689
Nc Medical Society
Plan Sponsorship & Administration
$432,076
View All Vendors

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$53,407,476
Investment income $530,128
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$15,845
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $53,921,759

Grants Awarded

Over the last fiscal year, North Carolina Medical Society Employee Benefit Trust has awarded $119,200 in support to 9 organizations.

Grant RecipientAmount

CHARLOTTE EYE EAR NOTE & THROAT ASSOCIATES

PURPOSE: WELLNESS INITIATIVES

$20,000

HOSPICE & PALLIATIVE CARE CHARLOTTE REGION

Org PageRecipient Profile

Charlotte, NC

PURPOSE: WELLNESS INITIATIVES

$20,000

PIEDMONTH HEALTH SERVICES INC

Org PageRecipient Profile

Chapel Hill, NC

PURPOSE: WELLNESS INITIATIVES

$20,000

ASHEVILLE EYE ASSOCIATES

PURPOSE: WELLNESS INITIATIVES

$16,600

CHARLOTTE GASTROENTEROLOGY & HEPATOLOGY

PURPOSE: WELLNESS INITIATIVES

$11,900

CANCER CARE OF WNC

PURPOSE: WELLNESS INITIATIVES

$9,500
View Grant Profile

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