Blue Cross Blue Shield Association
- Assets
- $1.0b
- Revenue
- $755.8m
- Investments
- $170.3m
- Employees
- 1,383
- Location
- Chicago, IL
- Founding
- 02/1958
- Data as of
- 12/2022
- EIN
- 13-5656874
Organization Overview
Blue Cross Blue Shield Association is located in Chicago, IL. The organization was established in 1958. According to its NTEE Classification (E80) the organization is classified as: Health (General & Financing), under the broad grouping of Health Care and related organizations. As of 12/2022, Blue Cross Blue Shield Association employed 1,383 individuals. This organization is the central organization for a national or regional group of organizations. Blue Cross Blue Shield Association is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Blue Cross Blue Shield Association generated $755.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $697.9m during the year ending 12/2022. While expenses have increased by 3.9% per year over the past 7 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
SEE SCHEDULE O
SEE SCHEDULE O
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kim Keck President And CEO | OfficerTrustee | 40 | $3,939,088 |
Maureen E Sullivan Senior Vice President | Officer | 40 | $2,967,729 |
Jennifer Vachon Executive Vice President | Officer | 40 | $2,826,960 |
Justine Handelman Senior Vice President | Officer | 40 | $1,386,156 |
Sean Robbins Executive Vice President | Officer | 40 | $1,107,540 |
Kari J Hedges Senior Vice President | Officer | 40 | $1,030,559 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cravath Swaine Moore Llp Legal Services | 12/30/22 | $18,119,378 |
Ust Global Inc Info Technology | 12/30/22 | $40,102,816 |
Infosys Public Services Inc Business Consulting | 12/30/22 | $17,551,838 |
Tech Mahindra Technologies Inc Info Technology | 12/30/22 | $11,954,917 |
Worldwide Insurance Services Llc Interl Med Insurance | 12/30/22 | $9,074,438 |
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 | $749,218,628 |
| Investment income | $5,276,895 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,607 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $755,791,525 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $29,195,753 |
| Compensation of current officers, directors, key employees. | $8,450,265 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $176,632,075 |
| Pension plan accruals and contributions | $11,163,351 |
| Other employee benefits | $21,911,317 |
| Payroll taxes | $13,305,611 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,794,178 |
| Fees for services: Accounting | $2,340,291 |
| Fees for services: Lobbying | $3,577,811 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $254,871,179 |
| Advertising and promotion | $14,716,604 |
| Office expenses | $7,101,422 |
| Information technology | $76,507,959 |
| Royalties | $0 |
| Occupancy | $13,678,836 |
| Travel | $3,140,940 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,410,532 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,090,658 |
| Insurance | $9,187,720 |
| All other expenses | $0 |
| Total functional expenses | $697,934,609 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,672,849 |
| Savings and temporary cash investments | $643,531,678 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $64,221,228 |
| 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 | $29,826,043 |
| Net Land, buildings, and equipment | $18,945,756 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $170,339,939 |
| Investments—program-related | $0 |
| Intangible assets | $30,756,157 |
| Other assets | $68,539,343 |
| Total assets | $1,027,832,993 |
| Accounts payable and accrued expenses | $136,129,684 |
| Grants payable | $0 |
| Deferred revenue | $4,338,418 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $589,188,537 |
| 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 | $17,787,459 |
| Total liabilities | $747,444,098 |
| Net assets without donor restrictions | $280,388,895 |
| 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 | $1,027,832,993 |