Nba Players Health And Welfare Benefit Plan
- Assets
- $372.6m
- Revenue
- $51.5m
- Investments
- $240.1m
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 10/2005
- Data as of
- 06/2021
- EIN
- 20-1260597
Organization Overview
Nba Players Health And Welfare Benefit Plan is located in Richmond, VA. The organization was established in 2005. According to its NTEE Classification (N80) the organization is classified as: Professional Athletic Leagues, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nba Players Health And Welfare Benefit Plan 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, Nba Players Health And Welfare Benefit Plan generated $51.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 19.1% each year . All expenses for the organization totaled $41.4m during the year ending 06/2021. 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
THE PLAN PROVIDES CERTAIN HEALTH AND WELFARE BENEFITS TO ELIGIBLE (CONTINUED ON SCHEDULE O) (CONTINUATION OF LINE 1) CURRENT AND FORMER NATIONAL BASKETBALL ASSOCIATION ("NBA") PLAYERS AND THEIR SPOUSES AND ELIGIBLE DEPENDENTS PURSUANT TO THE ELIGIBILITY RULES FOR EACH BENEFIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEALTH REIMBURSEMENT ACCOUNTS (HRAS) FOR ELIGIBLE CURRENT AND FORMER NBA PLAYERS AND THEIR FAMILIES THAT COVER HEALTH-RELATED COSTS QUALIFIED UNDER IRS RULES.
MEDICAL AND PRESCRIPTION DRUG COVERAGE TO ELIGIBLE RETIRED NBA PLAYERS AND THEIR FAMILIES.
MEDICAL, PRESCRIPTION DRUG, DENTAL, VISION, LIFE/AD&D AND DISABILITY INSURANCE COVERAGE TO ELIGIBLE CURRENT NBA PLAYERS AND THEIR FAMILIES.
EX-PATRIATE MEDICAL, DENTAL, PRESCRIPTION DRUG AND VISION COVERAGE FOR ELIGIBLE CURRENT INTERNATIONAL NBA PLAYERS AND THEIR FAMILIES AND TUITION REIMBURSEMENT BENEFITS FOR ELIGIBLE CURRENT AND FORMER NBA PLAYERS.MEDICAL, PRESCRIPTION DRUG, DENTAL AND VISION COVERAGE TO ELIGIBLE RETIRED NBA PLAYERS AND THEIR FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Neil Aaron Trustee | OfficerTrustee | 1 | $0 |
Ronald Klempner Trustee | OfficerTrustee | 1 | $0 |
Gary Arrick Trustee | OfficerTrustee | 1 | $0 |
Daniel Rube Trustee | OfficerTrustee | 1 | $0 |
Oris Staurt Trustee As Of 8/15/2020 | OfficerTrustee | 1 | $0 |
Eric Hutcherson Trustee Until 8/15/2020 | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wellington Trust Company Na Investment Management | 6/29/19 | $588,352 |
Wells Fargo Bank Custodial | 6/29/19 | $165,987 |
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 | $39,900,212 |
| Investment income | $4,381,613 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,257,712 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $51,539,537 |
| 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 | $40,495,486 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $802,356 |
| Fees for services: Other | $12,811 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $41,380,039 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,424,957 |
| Savings and temporary cash investments | $5,158,967 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $122,292,386 |
| Investments—other securities | $240,075,453 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $640,809 |
| Total assets | $372,592,572 |
| Accounts payable and accrued expenses | $1,136,287 |
| 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 | $0 |
| Total liabilities | $1,136,287 |
| Net assets without donor restrictions | $371,456,285 |
| 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 | $372,592,572 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nba Players Health And Welfare Benefit Plan Richmond, VA | $372,592,572 | $51,539,537 |
Professional Athletes Foundation Washington, DC | $39,661,719 | $3,614,289 |
Professional Golfers Association Of America Carolinas Section Browns Summit, NC | $4,265,965 | $2,806,782 |
National Association Of Christian Athletes Dayton, TN | $516,382 | $1,611,461 |
Kentucky Section Of The Pga Of America Louisville, KY | $1,128,161 | $772,480 |
Kga - Pga Inc Louisville, KY | $618,752 | $1,017,256 |
Indoor Football League Midlothian, VA | $630,646 | $423,204 |
Nfl Players Association Voluntary Employee Benefit Plan Washington, DC | $0 | $337,403 |
Professional Soccer Referees Association Inc Alexandria, VA | $560,039 | $215,330 |
Dc Rollergirls Washington, DC | $64,511 | $6,430 |
Guilford County Sports Hall Of Fame Greensboro, NC | $44,857 | $0 |