City Of Wichita Falls Employee Benefit Trust
- Assets
- $14.6m
- Revenue
- $18.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Wichita Falls, TX
- Founding
- 04/1988
- Data as of
- 09/2023
- EIN
- 75-2068960
Organization Overview
City Of Wichita Falls Employee Benefit Trust is located in Wichita Falls, TX. The organization was established in 1988. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. City Of Wichita Falls Employee Benefit Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 09/2023, City Of Wichita Falls Employee Benefit Trust generated $18.3m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $15.5m during the year ending 09/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE BENEFITS UNDER THE HEALTH AND WELFARE PROGRAM, WHICH BENEFITS MAY INCLUDE LIFE, ACCIDENTAL DEATH AND DISMEMBERMENT, SHORT AND LONG TERM DISABILITY, BASIC AND MAJOR MEDICAL, DENTAL, VISION OR SICK OR ACCIDENT BENEFITS TO THE EMPLOYEES, RETIREES AND DEPENDENTS OF THE CITY OF WICHITA FALLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HEALTH, DENTAL, LIFE AND VISION INSURANCE, PRESCRIPTION COVERAGE, ON-SITE CLINIC SERVICES, 457 VOLUNTARY RETIREMENT PLANS, FLEXIBLE SPENDING ACCOUNTS, AND OTHER INSURANCE OPTIONS TO THE EMPLOYEES, RETIREES, AND DEPENDENTS OF THE CITY OF WICHITA FALLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kinley Hegglund Administrator | Trustee | 4 | $0 |
Darron Leiker Board Member | Trustee | 1 | $0 |
Christi Klyn Board Member | Trustee | 1 | $0 |
Stephen Calvert Board Member | Trustee | 1 | $0 |
Paul Menzies Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Health Care Service Corporation Dba Blue Cross Blue Shield Of Texas Health Ins Administration | 9/29/23 | $544,172 |
Express Scripts Holding Company Prescriptions Administration Fees | 9/29/23 | $256,129 |
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 | $16,986,501 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,986,501 |
| Total Program Service Revenue | $0 |
| Investment income | $1,312,285 |
| 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 | $18,298,786 |
| 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 | $13,433,236 |
| 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 | $51,267 |
| Pension plan accruals and contributions | $8,190 |
| Other employee benefits | $114 |
| Payroll taxes | $3,642 |
| 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 | $0 |
| Fees for services: Other | $1,686,729 |
| Advertising and promotion | $0 |
| Office expenses | $2,193 |
| 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 | $179,782 |
| All other expenses | $87,383 |
| Total functional expenses | $15,452,536 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$290,703 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,182 |
| 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 | $14,868,547 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,041 |
| Total assets | $14,613,067 |
| Accounts payable and accrued expenses | $1,520,059 |
| 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 | $62,630 |
| Total liabilities | $1,582,689 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $13,030,378 |
| 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 | $14,613,067 |