IBA GROUP INSURANCE TRUST: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- IBA GROUP INSURANCE TRUST (EIN 35-6259970)
- Tax period
- 2024-05-01 to 2025-04-30
- Filed
- 2025-12-19
- IRS object ID
- 202503539349300515
- Schema version
- 2024v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-12-19T10:27:07-06:00 | ReturnTs |
| Tax Period End | 2025-04-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 351476702 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BRADY WARE & SCHOENFELD INC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2206 CHESTER BLVD | AddressLine1Txt |
| City | RICHMOND | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 47374 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-05-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 356259970 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | IBA GROUP INSURANCE TRUST | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | IBAG | BusinessNameControlTxt |
| Phone | 8005586206 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8425 WOODFIELD CROSSING BLVD 155E | AddressLine1Txt |
| City | INDIANAPOLIS | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 462407231 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ROBERT BLUME | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 8005586206 | PhoneNum |
| Signature | 2025-11-24 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | BENJAMIN S FITZGERALD CPA | PreparerPersonNm |
| PTIN | P02487771 | PTIN |
| Phone | 7659660531 | PhoneNum |
| Preparation | 2025-11-24 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ROBERT BLUME | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8425 WOODFIELD CROSSING BLVD 155E | AddressLine1Txt |
| City | INDIANAPOLIS | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 462407231 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $49,787,110 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | INDIANA.BANK/IBA-GROUP-INSURANCE-TRUST | WebsiteAddressTxt |
| Type Of Organization Trust | Yes (X) | TypeOfOrganizationTrustInd |
| Formation | 1957 | FormationYr |
| Legal Domicile State | IN | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE LIFE, ACCIDENT, AND SICKNESS BENEFITS TO ELIGIBLE PARTICIPANTS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 7 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $46,177,754 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $48,658,408 | CYProgramServiceRevenueAmt |
| PY Investment Income | $485,779 | PYInvestmentIncomeAmt |
| CY Investment Income | $612,207 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $2,061 | CYOtherRevenueAmt |
| PY Total Revenue | $46,663,533 | PYTotalRevenueAmt |
| CY Total Revenue | $49,272,676 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $36,793,448 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $39,466,707 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $9,590,633 | PYOtherExpensesAmt |
| CY Other Expenses | $9,646,758 | CYOtherExpensesAmt |
| PY Total Expenses | $46,384,081 | PYTotalExpensesAmt |
| CY Total Expenses | $49,113,465 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $279,452 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $159,211 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $11,223,597 | TotalAssetsBOYAmt |
| Total Assets EOY | $11,548,317 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $3,909,559 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $4,010,709 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $7,314,038 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $7,537,608 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO PROVIDE LIFE, ACCIDENT, AND SICKNESS BENEFITS TO ELIGIBLE PARTICIPANTS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | TO PROVIDE LIFE, ACCIDENT, AND SICKNESS BENEFITS TO ELIGIBLE PARTICIPANTS. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 17 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (1) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | 0 | ConflictOfInterestPolicyInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | IN | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TAFT LAW | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3177133500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE INDIANA SQUARE SUITE 3500 | AddressLine1Txt |
| City | INDIANAPOLIS | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46204 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (7 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd |
|---|---|---|---|---|---|---|
| DAVID FINDLAY | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| AMBER VAN TIL | ||||||
| SECRETARY/TREASURER | 0.50 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| ROBERT BLUME | ||||||
| PRESIDENT | 0.50 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| SHANE PILARSKI | ||||||
| VICE PRESIDENT | 0.50 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| LISA ARNOLD | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| MATT HOWREY | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| MIKE ZAHN | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| NFP PROPERTY AND CASUALTY SERVICES INC | |||||
| 415 CROSSLAKE DR STE A | EVANSVILLE | IN | 46240 | TRUST ADMINISTRATION | $640,000 |
| ERTEL & COMPANY | |||||
| 10945 CORK PL | INDIANAPOLIS | IN | 46236 | WELLNESS SERVICES | $297,693 |
| EXPRESS SCRIPTS | |||||
| 1 EXPRESS WAY | SAINT LOUIS | MO | 63121 | PBM | $141,995 |
| IMPAX RX | |||||
| 604 BANYAN TRAIL 812606 | BOCA RATON | FL | 33481 | SPECIALTY MEDICATIONS COST SAVINGS PROGR | $109,311 |
| WELLNESS IQ | |||||
| 6450 ROCKSIDE WOODS BLVD S STE 220 | INDEPENDENCE | OH | 44131 | WELLNESS SERVICES | $103,933 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INSURANCE PREMIUMS | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $48,658,408 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $48,658,408 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $48,658,408 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $450,451 | TotalRevenueColumnAmt |
| Exclusion | $450,451 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $676,190 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $514,434 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $161,756 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $161,756 | TotalRevenueColumnAmt |
| Exclusion | $161,756 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANEOUS | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $2,061 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,061 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $2,061 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $49,272,676 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $48,660,469 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $612,207 | ExclusionAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $39,466,707 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,570,363 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $75,000 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $110,724 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $23,612 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,310,555 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,556,343 | TotalAmt |
Other Expenses OtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER DEDUCTIONS | Desc |
| Total | $161 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $49,113,465 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $780,999 | BOYAmt |
| EOY | $781,000 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,959,058 | BOYAmt |
| EOY | $4,931,600 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,437,723 | BOYAmt |
| EOY | $1,448,674 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,059 | BOYAmt |
| EOY | $1,295 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,042,758 | BOYAmt |
| EOY | $4,385,748 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,223,597 | BOYAmt |
| EOY | $11,548,317 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $49,971 | BOYAmt |
| EOY | $45,646 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,381 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,840,207 | BOYAmt |
| EOY | $3,965,063 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,909,559 | BOYAmt |
| EOY | $4,010,709 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,314,038 | BOYAmt |
| EOY | $7,537,608 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,314,038 | BOYAmt |
| EOY | $7,537,608 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,223,597 | BOYAmt |
| EOY | $11,548,317 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $159,211 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $64,359 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | 0 | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| CLAIMS PAYABLE | $307,368 |
| IBNR | $3,657,695 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $3,965,063 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $49,313,423 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $64,359 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $64,359 | RevenueNotReportedAmt |
| Revenue Subtotal | $49,249,064 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $23,612 | InvestmentExpensesNotIncldAmt |
| Revenue Not Reported Fincl Stmt | $23,612 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $49,272,676 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $49,089,853 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $49,089,853 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $23,612 | InvestmentExpensesNotIncld2Amt |
| Expenses Not Rpt Fincl Stmt | $23,612 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $49,113,465 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE VEBA TRUST FUNDING BENEFITS OF THE TRUST RECEIVED AN EXEMPTION LETTER FROM THE INTERNAL REVENUE SERVICE (IRS) DATED MAY 20, 1974, STATING THAT THE TRUST IS TAX-EXEMPT UNDER THE PROVISIONS OF SECTION 501(C)9 OF THE INTERNAL REVENUE CODE (IRC). HOWEVER, AS A RESULT OF THE TRUST'S FUNDING LEVEL, FROM TIME TO TIME THE TRUST MAY BE SUBJECT TO INCOME TAXES. FOR THE YEARS ENDED APRIL 30, 2025 AND 2024, THE TRUST WAS NOT SUBJECT TO FEDERAL OR STATE INCOME TAXES FOR UNRELATED BUSINESS TAXABLE INCOME (UBTI). UBTI IS GENERATED AS A RESULT OF VEBA TRUST ASSETS WHICH EXCEED THE AMOUNT REASONABLY NECESSARY TO COVER UNPAID ACCRUED CLAIMS AND PREMIUMS TO INSURANCE CARRIERS, RESULTING IN THE EXCESS ACCUMULATIONS BEING SUBJECT TO UBTI. THE TAX IS ASSESSED ON THE LESSER OF THE VEBA'S INCOME OR EXCESS ASSETS IN THE QUALIFIED ASSET ACCOUNT. FOR UBTI PURPOSES, THE VEBA'S INCOME IS EQUAL TO INVESTMENT EARNINGS, LESS INVESTMENT MANAGEMENT FEES ASSOCIATED WITH THOSE EARNINGS. IN ADDITION, THE TRUST AND THE VEBA TRUST ARE REQUIRED TO OPERATE IN CONFORMITY WITH THE IRC TO MAINTAIN THE TAX-EXEMPT STATUS OF THE TRUST. THE TRUST ADMINISTRATOR BELIEVES THAT THE TRUST IS BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC AND, THEREFORE, BELIEVES THAT THE RELATED VEBA TRUST IS TAX-EXEMPT. U.S. GAAP REQUIRES TRUST MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE TRUST AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE TRUST HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD BE SUSTAINED UPON EXAMINATION BY THE IRS. THE TRUST IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS. HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE TRUST REQUESTED A PRIVATE LETTER RULING FROM THE IRS ON FEBRUARY 16, 2018, REGARDING THE METHOD FOR DETERMINING THE QUALIFIED ASSET ACCOUNT LIMIT. ON JULY 16, 2018, THE TRUST RECEIVED A RESPONSE FROM THE IRS INDICATING THAT THE TRUST MAY CONSIDER INSURANCE PREMIUMS PAID AS QUALIFIED DIRECT COSTS FOR PURPOSES OF DETERMINING THE QUALIFIED ASSET ACCOUNT LIMIT. AS SUCH, THE TRUST HAS FILED AMENDED TAX FILINGS FOR THE YEARS ENDED APRIL 30, 2017 AND 2016, IN ORDER TO RECOUP THE FULL AMOUNT OF INCOME TAXES PAID TO FEDERAL AND STATE TAXING AUTHORITIES. THE TRUST WAS NOTIFIED BY THE IRS THAT THE PENDING CLAIM WAS DENIED. THE REVERERSAL OF THE APRIL 30, 2023 INCOME TAX REFUNDS RECEIVABLE WAS RECORDED AS ADMINISTRATIVE EXPENSES IN THE YEAR ENDED APRIL 30, 2024. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | ADDITIONAL CHANGE IN IBNR ADDITIONAL CHANGE IN CLAIMS PAYABLE ROUNDING |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 3 | IBA INSURANCE TRUST DELEGATES ACCOUNTING SERVICES TO TAFT LAW. |
| FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 IS REVIEWED ANNUALLY BY THE CHAIRMAN OF THE TRUSTEES AND IS AVAILABLE TO EACH TRUSTEE PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE FUND DOES NOT MAKE ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THE TRUST FUND AND THE BOARD OF TRUSTEES CONFORM WITH ERISA RULES AND REGULATIONS RELATING TO THIS MATTER. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (53 entries)
| ALLIANCE BANK |
| AMERICAN COMMUNITY BANK |
| BANK OF WOLCOTT |
| BATH STATE BANK |
| COMMUNITY STATE BANK AVILLA |
| COMMUNITY FIRST BANK OF INDIANA |
| COMMUNITY STATE BANK BROOKE |
| COMMUNITY STATE BANK ROYAL CENTER |
| CITIZENS BANK |
| DEMOTTE STATE BANK |
| FAIRMOUNT STATE BANK |
| FARMERS & MECHANICS S & L ASSN |
| THE FARMERS BANK |
| FCN BANK |
| FRIENDSHIP STATE BANK |
| FIRST BANK RICHMOND |
| FIRST FARMERS BANK AND TRUST |
| FIRST FEDERAL SAVINGS BANK ANGOLA |
| FIRST FEDERAL SAVINGS BANK HUNTINGTON |
| FIRST FEDERAL SAVINGS BANK ROCHESTER |
| FIRST STATE BANK OF PORTER |
| FOUNTAIN TRUST COMPANY |
| GARRETT STATE BANK |
| GRANT CO STATE BANK |
| HARBOUR TRUST & INVESTMENT MGMT CO |
| HENDRICKS CO BANK AND TRUST COMPANY |
| HOME BANK SB |
| HOOSIER HEARTLAND STATE BANK |
| INDIANA BANKERS ASSOCIATION |
| INDIANA TRUST COMPANY |
| KENTLAND BANK |
| LAKE CITY BANK |
| LNB COMMUNITY BANK |
| MID SOUTHERN BANK |
| NAPOLEON STATE BANK |
| LOGANSPORT SAVINGS BANK FSB |
| NORTH SALEM STATE BANK |
| PEOPLES BANK FSB MUNSTER |
| PEOPLES COMMUNITY BANK SB OF MONTICELLO |
| PEOPLES TRUST & SAVINGS BANK |
| RIDDELL NATIONAL BANK |
| SCOTTSBURG BUILDING & LOAN ASSN |
| SECURITY FEDERAL SAVINGS |
| SPENCER COUNTY BANK |
| THE HOMETOWN SAVINGS BANK FORMERLY KNOW AS TERRE HAUTE SAVINGS BANK |
| THE FIRST NATIONAL BANK OF MONTEREY |
| TRI COUNTY BANK AND TRUST COMPANY |
| UNITED FIDELITY BANK |
| THE PEOPLE'S STATE BANK |
| CROSSROADS BANK |
| FIRST FEDERAL SAVINGS & LOAN ASSN WASHINGTON |
| GREENFIELD BANKING |
| MID SOUTHERN SAVINGS BANK FSB |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |