2023-10-26T02:26:32-05:00 2022-12-31 861065772 Deloitte Tax LLP 50 South Sixth Street Suite 2800 Minneapolis MN 55402 990 2022-01-01 421122086 Iowa Bankers Benefit Plan IOWA 5152864300 8901 Northpark Drive PO Box 6200 Johnston IA 501316200 Chad J Ellsworth Chief Admin Officer (IBIS) 5152864300 2023-10-19 1 Chad Ellsworth 999009999 0 Anna Kolakaluri P01275237 6123974000 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Chad J Ellsworth 8901 Northpark Drive PO Box 6200 Johnston IA 501316200 184162841 0 X N/A X 1978 IA Provide health & welfare benefits to employees of participating employers. 9 9 0 0 0 1090601 0 0 173069250 170101782 1233050 1215886 8415222 0 182717522 171317668 0 0 164731567 137777243 0 0 0 0 0 6540889 7514032 171272456 145291275 11445066 26026393 64300979 80558458 31451796 25702455 32849183 54856003 The IBBP Trust was established to provide group health insurance, group life insurance, and long-term and short-term disability insurance coverage to substantially all employees of participating employers. 0 0 Provision of health & welfare benefits for employees of participating employers. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 IA X Mitch Van Kley 5152864269 8901 Northpark Drive PO Box 6200 Johnston IA 501316200 X Alex Oponski Chairman 1.00 0.00 X 0 0 0 David Coulter Trustee 1.00 0.00 X 0 0 0 Gregory Turner End 0922 Trustee 1.00 0.00 X 0 0 0 James Kennedy Jr Trustee 1.00 0.00 X 0 0 0 Joshua Guttau Trustee 1.00 0.00 X 0 0 0 Marques Doppler Trustee 1.00 0.00 X 0 0 0 Michael Underwood Start 0322 Trustee 1.00 0.00 X 0 0 0 Paul Waltz Start 0622 Trustee 1.00 0.00 X 0 0 0 Sean Noonan Trustee 1.00 0.00 X 0 0 0 Chad Ellsworth Chief Admin Officer (IBIS) 5.00 40.00 X 0 355794 85584 0 355794 85584 1 0 1 0 Wellmark Blue Cross & Blue Sheild PO Box 9232 Des Moines IA 50306 Claim Processing 5860294 Delta Dental PO Box 9000 Johnston IA 50131 Claim Processing 452377 2 Premium Contributions 900001 170101782 170101782 170101782 1220524 1220524 12840535 12845173 -4638 -4638 -4638 171317668 170101782 0 1215886 137777243 19611 115924 6477374 FEDERAL INCOME TAX 725000 STATE INCOME TAX 175000 MISCELLANEOUS EXPENSE 1123 145291275 219897 1577452 35391423 35804755 5921891 28689659 37254360 64300979 80558458 5863643 4796721 25588153 20905734 31451796 25702455 X 0 0 0 0 32849183 54856003 32849183 54856003 64300979 80558458 26026393 -4019573 0 X 0 1 X 1 0 0 IBNR Claim Reserve Liability 13109000 Premiums Collected in Advance 7796734 20905734 X 167298095 -4019573 -4019573 171317668 0 171317668 145291275 0 145291275 0 145291275 Part X, Line 2: Under IRC Section 512 and related regulations, the trust is required to pay federal income taxes on any unrelated business taxable income. For 501(c)(9) organizations, federal income taxes are required to be paid on the lesser of investment income or the excess of actual reserves over the IRC Section 419(a) reserve limit. A similar Iowa statute exists with respect to state income taxes. During the year ending December 31, 2022, the Plan incurred and paid $900,000 of tax expenses generated by unrelated business taxable income. As of December 31, 2022 and 2021, the Plan has no significant obligations associated with unrelated business taxable income. GAAP requires Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the applicable authorities. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Plan administrator believes it is no longer subject to income tax examination for years prior to 2019. 0 0 0 Chad Ellsworth Chief Admin Officer (IBIS) 0 307239 0 42564 0 5991 0 59689 0 25895 0 441378 0 0 Part I, Line 3: The organization relies upon the method used by the related organization to determine compensation. Form 990, Part VI, Section A, line 6 The Board of Directors of Iowa Bankers Insurance and Services, Inc. or a majority of the participating employers may remove and elect any or all of the trustees from their office. All actions and decisions of the trustees shall be determined by a majority vote of the trustees at any regular or special meeting of the trustees. Form 990, Part VI, Section A, line 7a See explanation in Part VI, Section A, Line 6. Form 990, Part VI, Section B, line 11b The Board of Trustees reviews and approves the Audited Financial Statements which are used to complete the Form 990. The Form 990 is provided to each trustee for their review, comments and approval prior to the filing of the form. Form 990, Part VI, Section B, line 12c The Iowa Bankers Benefit Plan requires annual disclosure of a conflict of interest by a trustee, director, officer, key employee to the Chairman of the Board of Trustees and Chief Administrative Officer who are responsible for the oversight and enforcement of the policy. All disclosures are reviewed and any concerns are addressed. If conflicts are identified, the Chairman and Chief Administrative Officer work to ensure that the trustees, directors, officers, or key employees do not participate in discussions or vote on the affected matter. Form 990, Part VI, Section B, line 15 Iowa Bankers Association Executive Committee, which is made up of bankers from each of our Boards, determines the compensation of top management officials and officers using comparable data. Form 990, Part VI, Section C, line 19 Governing documents, conflicts of interest policy and financial statements are available to the public upon request. BUILD - Federal Fund 8901 Northpark Drive PO Box 6200 Johnston IA 50131 421208575 PAC IA 527 N/A 0 BUILD - State Fund 8901 Northpark Drive PO Box 6200 Johnston IA 50131 421208577 QSLPO IA 527 N/A 0 Iowa Leaders in Education and Advocacy Inc 8901 Northpark Drive PO Box 6200 Johnston IA 50131 465523330 Social Welfare IA 501(c)(4) Iowa Bankers Association 0 Iowa Bankers Association 8901 Northpark Drive PO Box 6200 Johnston IA 50131 420330040 Promote Banks IA 501(c)(6) N/A 0 Iowa Bankers Insurance & Services Inc 8901 Northpark Drive Johnston IA 50131 420984998 Sales-Insurance & Marketing IA N/A C 0 Mid America Bankers Insurance Services 8901 Northpark Drive Johnston IA 50131 421167893 Insurance IA N/A C 0 Iowa Bankers Mortgage Corporation 8901 Northpark Drive Johnston IA 50131 421130287 Mortgage Banking IA N/A C 0 Iowa-Midwest Insurance Company 8901 Northpark Drive Johnston IA 50131 860309358 Insurance IA N/A C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 Iowa Bankers Insurance & Services Inc S 1818319 FMV Iowa Bankers Mortgage Corporation S 1761919 FMV