Illinois Bankers Group Insurance Trust
- Assets
- $7.7m
- Revenue
- $22.1m
- Investments
- $0.0
- Employees
- 2
- Location
- Springfield, IL
- Founding
- 11/1968
- Data as of
- 03/2022
- EIN
- 37-6082547
Organization Overview
Illinois Bankers Group Insurance Trust is located in Springfield, IL. The organization was established in 1968. 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 03/2022, Illinois Bankers Group Insurance Trust employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois Bankers Group Insurance Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 03/2022, Illinois Bankers Group Insurance Trust generated $22.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $22.6m during the year ending 03/2022. While expenses have increased by 5.4% 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
TO PROVIDE LIFE, ACCIDENT, HEALTH, DENTAL, VISION, AND DISABILITY INSURANCE FOR ELIGIBLE EMPLOYEES AND RETIREES OF ILLINOIS BANKERS ASSOCIATION MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE LIFE, ACCIDENT, HEALTH, DENTAL, VISION, AND DISABILITY INSURANCE FOR ELIGIBLE EMPLOYEES AND RETIREES OF ILLINOIS BANKERS ASSOCIATION MEMBERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael M Mahorney Marketing Di | 40 | $123,520 | |
Tj Burge Trustee | Trustee | 2 | $0 |
Walter Chip Hasselbring Trustee | Trustee | 2 | $0 |
Dane Cleven Trustee | Trustee | 2 | $0 |
Kenneth Elmore Trustee | Trustee | 2 | $0 |
Justin Fentress Trustee | Trustee | 2 | $0 |
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 | $21,557,543 |
| Investment income | $191,733 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $398,723 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,147,999 |
| 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 | $21,794,607 |
| 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 | $183,062 |
| Pension plan accruals and contributions | $10,984 |
| Other employee benefits | $11,389 |
| Payroll taxes | $14,076 |
| Fees for services: Management | $154,149 |
| Fees for services: Legal | $22,821 |
| Fees for services: Accounting | $6,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,131 |
| Fees for services: Other | $234,426 |
| Advertising and promotion | $0 |
| Office expenses | $1,839 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $10,340 |
| 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 | $8,348 |
| All other expenses | $0 |
| Total functional expenses | $22,573,153 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,490,967 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,717 |
| 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 | $5,173,364 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,678,048 |
| Accounts payable and accrued expenses | $692,314 |
| Grants payable | $0 |
| Deferred revenue | $1,026,921 |
| 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 | $1,719,235 |
| 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 | $5,958,813 |
| Total liabilities and net assets/fund balances | $7,678,048 |