Lakeland Regional Health System Associate Benefit Program Trust
- Assets
- $18.5m
- Revenue
- $317.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Saint Joseph, MI
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 46-2332843
Organization Overview
Lakeland Regional Health System Associate Benefit Program Trust is located in Saint Joseph, MI. The organization was established in 2014. 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. Lakeland Regional Health System Associate Benefit Program Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, Lakeland Regional Health System Associate Benefit Program Trust generated $317.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $85.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.9%) per year over the past 7 years. 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 TRUST WAS ESTABLISHED TO FUND THE POSTRETIREMENT OBLIGATION OF LAKELAND REGIONAL HEALTH SYSTEM, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PAYMENT OF STIPEND TO ELIGIBLE RETIREES TOWARDS THE PURCHASE OF HEALTH INSURANCE OR TO PURCHASE THEIR OWN MEDICARE STOP LOSS INSURANCE COVERAGE.NUMBER OF ACTIVE MEMBERS IN THE PLAN IS 440. TOTAL EMPLOYEES THAT COULD BECOME ELIGIBLE TO RECEIVE FUTURE BENEFITS UPON RETIREMENT IS 547.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Norma Tirado-Kellenberger Trustee | Trustee | 1 | $0 |
Paul Konopacki Trustee | Trustee | 1 | $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 | $0 |
| Investment income | $304,162 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,177 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $317,339 |
| 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. | $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 | $39,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,761 |
| Fees for services: Other | $29,000 |
| 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 | $85,761 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,753,485 |
| 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 | $16,786,317 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,539,802 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 | $18,539,802 |
| Total liabilities and net assets/fund balances | $18,539,802 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
V J G Incorporated Employee Benefit Plan Indianapolis, IN | $188,039 | $9,770,843 |
Traylor Bros Inc Employee Benefits Plan Trust Evansville, IN | $0 | $8,264,652 |
American Mutual Share Insurance Corp & Subsidiaries Dublin, OH | $356,642,183 | $10,357,280 |
Builders Exchange Benefit Plan Trust Valley View, OH | $8,146,430 | $9,209,306 |
Marcus Corporation Employee Benefits Trust Milwaukee, WI | $0 | $8,029,877 |
Wisconsin Bankers Association Insurance Trust Fund Sun Prairie, WI | $545,730 | $8,671,517 |
Canton Electrical Welfare Fund Canfield, OH | $20,317,325 | $9,164,122 |
Cantex Employee Benefit Trust Dublin, OH | $5,000 | $8,010,752 |
Modern Drop Forge Company Employee Welfare Trust Merrillville, IN | $1,657,917 | $6,543,667 |
Michigan Property And Casualty Guaranty Association Novi, MI | $169,923,303 | $16,019,730 |
Kellogg Company Twenty-Five Year Employees Fund Inc Battle Creek, MI | $52,430,078 | $6,896,103 |
Michigan Glass & Glazing Industry Welfare Insurance Fund Troy, MI | $9,322,867 | $5,414,184 |