2025-12-19T10:27:07-06:00 2025-04-30 351476702 BRADY WARE & SCHOENFELD INC 2206 CHESTER BLVD RICHMOND IN 47374 990 2024-05-01 356259970 IBA GROUP INSURANCE TRUST IBAG 8005586206 8425 WOODFIELD CROSSING BLVD 155E INDIANAPOLIS IN 462407231 ROBERT BLUME PRESIDENT 8005586206 2025-11-24 1 1 BENJAMIN S FITZGERALD CPA P02487771 7659660531 2025-11-24 2024 2025-03-06 01:10:19Z ROBERT BLUME 8425 WOODFIELD CROSSING BLVD 155E INDIANAPOLIS IN 462407231 49787110 0 X INDIANA.BANK/IBA-GROUP-INSURANCE-TRUST X 1957 IN TO PROVIDE LIFE, ACCIDENT, AND SICKNESS BENEFITS TO ELIGIBLE PARTICIPANTS. 7 7 0 7 0 0 0 0 46177754 48658408 485779 612207 0 2061 46663533 49272676 0 0 36793448 39466707 0 0 0 0 0 9590633 9646758 46384081 49113465 279452 159211 11223597 11548317 3909559 4010709 7314038 7537608 TO PROVIDE LIFE, ACCIDENT, AND SICKNESS BENEFITS TO ELIGIBLE PARTICIPANTS. 0 0 TO PROVIDE LIFE, ACCIDENT, AND SICKNESS BENEFITS TO ELIGIBLE PARTICIPANTS. 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 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 17 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 1 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 IN X TAFT LAW 3177133500 ONE INDIANA SQUARE SUITE 3500 INDIANAPOLIS IN 46204 X DAVID FINDLAY TRUSTEE 0.50 X 0 0 0 AMBER VAN TIL SECRETARY/TREASURER 0.50 X X 0 0 0 ROBERT BLUME PRESIDENT 0.50 X X 0 0 0 SHANE PILARSKI VICE PRESIDENT 0.50 X X 0 0 0 LISA ARNOLD TRUSTEE 0.50 X 0 0 0 MATT HOWREY TRUSTEE 0.50 X 0 0 0 MIKE ZAHN TRUSTEE 0.50 X 0 0 0 0 0 0 0 0 0 0 NFP PROPERTY AND CASUALTY SERVICES INC 415 CROSSLAKE DR STE A EVANSVILLE IN 46240 TRUST ADMINISTRATION 640000 ERTEL & COMPANY 10945 CORK PL INDIANAPOLIS IN 46236 WELLNESS SERVICES 297693 EXPRESS SCRIPTS 1 EXPRESS WAY SAINT LOUIS MO 63121 PBM 141995 IMPAX RX 604 BANYAN TRAIL 812606 BOCA RATON FL 33481 SPECIALTY MEDICATIONS COST SAVINGS PROGR 109311 WELLNESS IQ 6450 ROCKSIDE WOODS BLVD S STE 220 INDEPENDENCE OH 44131 WELLNESS SERVICES 103933 5 INSURANCE PREMIUMS 900099 48658408 48658408 48658408 450451 450451 676190 514434 161756 161756 161756 MISCELLANEOUS 900099 2061 2061 2061 49272676 48660469 0 612207 39466707 1570363 75000 110724 23612 1310555 6556343 OTHER DEDUCTIONS 161 49113465 780999 781000 4959058 4931600 1437723 1448674 3059 1295 4042758 4385748 11223597 11548317 49971 45646 19381 0 3840207 3965063 3909559 4010709 X 0 0 0 0 7314038 7537608 7314038 7537608 11223597 11548317 159211 64359 0 X 0 1 X 0 0 0 CLAIMS PAYABLE 307368 IBNR 3657695 3965063 X 49313423 64359 64359 49249064 23612 23612 49272676 49089853 0 49089853 23612 23612 49113465 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 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. 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0