Joint Powers Trust
- Assets
- $11.2m
- Revenue
- $40.7m
- Investments
- $0.0
- Employees
- 3
- Location
- Billings, MT
- Founding
- 03/1990
- Data as of
- 06/2021
- EIN
- 81-0457009
Organization Overview
Joint Powers Trust is located in Billings, MT. The organization was established in 1990. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. As of 06/2021, Joint Powers Trust employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Joint Powers Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 06/2021, Joint Powers Trust generated $40.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $41.9m during the year ending 06/2021. While expenses have increased by 5.1% per year over the past 6 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 EMPLOYEES OF MONTANA AND WYOMING PUBLIC SERVICE AGENCIES WITH COST-EFFECTIVE GROUP HEALTH BENEFIT PLANS, AND TO PROVIDE WELLNESS EDUCATION AND QUALITY BENEFIT PROGRAMS WHICH ARE DESIGNED TO MEET THE NEEDS OF OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PLANS WITHIN THE TRUST PROVIDE HEALTH BENEFITS (MEDICAL, HOSPITAL, SURGICAL, MAJOR MEDICAL AND DENTAL) FOR ALL ELIGIBLE EMPLOYEES OF THE EMPLOYERS WITH 20 TO 40 HOURS OF SERVICE PER WEEK, THEIR FAMILIES AND THEIR DEPENDENTS AS DEFINED WITH THE TRUST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shane Heigis Administrator | Officer | 40 | $151,540 |
Tobin Novasio Chair | OfficerTrustee | 1 | $0 |
Elliott Crump Secretary/treasurer | OfficerTrustee | 1 | $0 |
Stephanie Verhasselt Vice Chairman | OfficerTrustee | 1 | $0 |
Kody Farkell Trustee | Trustee | 1 | $0 |
Jeff Bennes Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Employee Benefit Management Services Administrative And Accounting Services | 6/29/21 | $747,523 |
Navitus Health Solutions Pharmacy Benefit Manager | 6/29/21 | $190,383 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $48,700 |
| 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 | $48,700 |
| Total Program Service Revenue | $40,385,561 |
| Investment income | $101,553 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $185,926 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,721,740 |
| 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 | $39,328,526 |
| Compensation of current officers, directors, key employees. | $194,934 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $142,135 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $35,697 |
| Payroll taxes | $22,285 |
| Fees for services: Management | $1,098,567 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $57,225 |
| Fees for services: Other | $828,722 |
| Advertising and promotion | $9,342 |
| Office expenses | $12,990 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $54,547 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,007 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,338 |
| Insurance | $59,171 |
| All other expenses | $5,199 |
| Total functional expenses | $41,939,759 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,552,652 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,796,697 |
| 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 | $243,384 |
| Net Land, buildings, and equipment | $110,775 |
| Investments—publicly traded securities | $6,488,129 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,191,637 |
| Accounts payable and accrued expenses | $49,324 |
| Grants payable | $0 |
| Deferred revenue | $476,507 |
| 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 | $8,252,695 |
| Total liabilities | $8,778,526 |
| Net assets without donor restrictions | $2,413,111 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $11,191,637 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mdu Resources Group Inc Bismarck, ND | $6,564,794 | $94,032,300 |
Dakotas & Western Minnesota Industry Health & Welfare Fund Fargo, ND | $77,871,417 | $50,890,330 |
Joint Powers Trust Billings, MT | $11,191,637 | $40,721,740 |
Idaho Power Company Voluntary Employees Beneficiary Association Boise, ID | $41,463,808 | $26,523,416 |
Noridian Mutual Insurance Company Retirees Veba Tr Fargo, ND | $45,397,738 | $16,529,456 |
Montana Health Network Health Insurance Plan & Trust Miles City, MT | $15,268,844 | $23,271,605 |
South Dakota Bankers Benefit Plan Trust Pierre, SD | $10,846,248 | $20,987,346 |
Idaho Agc Self-Funded Benefit Tr Boise, ID | $6,885,647 | $14,916,501 |
Montana Automobile Dealers Association Insurance Trust Fund Helena, MT | $782,366 | $6,867,313 |
Dick Anderson Construction Health And Welfare Benefits Tr Helena, MT | $1,064,570 | $5,780,819 |
Dakotas Areawide Ibew-Neca Vacation And Holiday Trust Fargo, ND | $4,917,933 | $6,471,191 |
Montana Credit Union League Group Benefits Tr Helena, MT | $4,089,358 | $5,824,958 |