South Dakota Bankers Benefit Plan Trust

Organization Overview

South Dakota Bankers Benefit Plan Trust is located in Pierre, SD. The organization was established in 2016. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Dakota Bankers Benefit Plan 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, South Dakota Bankers Benefit Plan Trust generated $21.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $19.2m during the year ending 12/2021. While expenses have increased by 9.4% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE PRIMARY PURPOSE OF THIS TAX-EXEMPT IRC SECTION 501(C)(9) VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION ("VEBA") IS TO PROVIDE FOR THE PAYMENT OF HEALTH BENEFITS TO ITS MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE SDBBP TRUST WAS ESTABLISHED TO PROVIDE GROUP HEALTH INSURANCE COVERAGE TO SUBSTANTIALLY ALL EMPLOYEES OF PARTICIPATING EMPLOYERS.


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Board, Officers & Key Employees

Name (title)Compensation
George Kenzy
Director
$0
Dean Dreessen
Co-Chairman
$0
Mark Law
Secretary
$0
Joseph Anglin
Director
$0
David King
Chairman
$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$20,116,721
Investment income $61,530
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 $20,987,346

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