Cuad Health Benefits Trust
- Assets
- $4.4m
- Revenue
- $14.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Bismarck, ND
- Founding
- 07/2018
- Data as of
- 12/2022
- EIN
- 82-3520467
Organization Overview
Cuad Health Benefits Trust is located in Bismarck, ND. The organization was established in 2018. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, 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. Cuad Health Benefits Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2022, Cuad Health Benefits Trust generated $14.6m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 21.6% each year . All expenses for the organization totaled $13.7m during the year ending 12/2022. While expenses have increased by 21.3% per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH, DENTAL, AND VISION BENEFITS TO EMPLOYEES OF PARTICIPATING EMPLOYERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022 THE TRUST PROVIDED HEALTH, DENTAL, AND/OR VISION BENEFITS TO A TOTAL OF 967 ACTIVE PARTICIPANTS, AND 12 RETIRED OR SEPARATED PARTICIPANTS FOR THE 34 PARTICIPATING EMPLOYERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Olson Chairperson | OfficerTrustee | 0.1 | $0 |
Sean Rinkenberger Vice Chairperson (see Sch O Explanation) | OfficerTrustee | 0.1 | $0 |
Mindee Kohlman Secretary (see Sch O Explanation) | OfficerTrustee | 0.1 | $0 |
Bob Herrington Alternate (see Sch O Explanation) | Trustee | 0.1 | $0 |
Justin Maddison Trustee | Trustee | 0.1 | $0 |
Harold Hagen Trustee (see Sch O Explanation) | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Noridian Mutual Insurance Company Administrative Fees | 12/30/22 | $640,936 |
Wellmark Administrative Fees | 12/30/22 | $351,199 |
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 | $14,595,282 |
| Investment income | $14,697 |
| 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 | $14,609,979 |
| 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 | $9,488,504 |
| 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 | $32,100 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $36,294 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,170,206 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $32,540 |
| All other expenses | $231,419 |
| Total functional expenses | $13,671,954 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,941,604 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,451,846 |
| 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 | $11,676 |
| 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 | $4,405,126 |
| 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 | $142,984 |
| Total liabilities | $142,984 |
| 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 | $4,262,142 |
| Total liabilities and net assets/fund balances | $4,405,126 |