IOWA BANKERS BENEFIT PLAN: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- IOWA BANKERS BENEFIT PLAN (EIN 42-1122086)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2013-08-05
- IRS object ID
- 201322179349301252
- Schema version
- 2012v2.1
- 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) |
|---|---|---|
| Timestamp | 2013-08-05T15:39:51-05:00 | Timestamp |
| Tax Period End Date | 2012-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 861065772 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Deloitte Tax LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 50 South Sixth Street Suite 2800 | AddressLine1 |
| City | Minneapolis | City |
| State | MN | State |
| ZIP Code | 55402 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 421122086 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Iowa Bankers Benefit Plan | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | IOWA | NameControl |
| Phone | 5152864300 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8800 NW 62nd Avenue PO Box 6210 | AddressLine1 |
| City | Johnston | City |
| State | IA | State |
| ZIP Code | 501316210 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Merritt D Krause | Name |
| Title | Chief Admin Officer | Title |
| Phone | 5152864300 | Phone |
| Date Signed | 2013-08-05 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Kristina Rasmussen | Name |
| PTIN | P00143920 | PTIN |
| Phone | 6123974000 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | Merritt D Krause | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8800 NW 62nd Avenue PO Box 6210 | AddressLine1 |
| City | Johnston | City |
| State | IA | State |
| ZIP Code | 501316210 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 109710421 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | N/A | WebSite |
| Type Of Organization Trust | X | TypeOfOrganizationTrust |
| Year Formation | 1978 | YearFormation |
| State Legal Domicile | IA | StateLegalDomicile |
| Activity Or Mission Description | Provide health & welfare benefits to employees of participating employers. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 8 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 8 | NbrIndependentVotingMembers |
| Total Nbr Employees | 0 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 104860041 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 108813270 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 294134 | InvestmentIncomePriorYear |
| Investment Income Current Year | 301456 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 908437 | OtherRevenuePriorYear |
| Other Revenue Current Year | 595695 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 106062612 | TotalRevenuePriorYear |
| Total Revenue Current Year | 109710421 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 96243419 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 110714766 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 0 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 0 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 4034360 | OtherExpensePriorYear |
| Other Expenses Current Year | 4140382 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 100277779 | TotalExpensesPriorYear |
| Total Expenses Current Year | 114855148 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 5784833 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -5144727 | RevenuesLessExpensesCY |
| Total Assets BOY | 28555403 | TotalAssetsBOY |
| Total Assets EOY | 25902945 | TotalAssetsEOY |
| Total Liabilities BOY | 11839388 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 14331657 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 16716015 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 11571288 | NetAssetsOrFundBalancesEOY |
| Mission Description | 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. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | Provision of health & welfare benefits for employees of participating employers. | Description |
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 0 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 1 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 0 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 0 | NumberOfEmployees |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 8 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 8 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 1 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 0 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | IA | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | Jeff Heuer | NamePerson |
| Telephone Number | 5152864300 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8800 NW 62nd Ave Box 6210 | AddressLine1 |
| City | Johnston | City |
| State | IA | State |
| ZIP Code | 50131 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (10 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Average Hours Per Week RelatedAverageHoursPerWeekRelated | OfficerOfficer |
|---|---|---|---|---|---|---|---|
| James R Brown | |||||||
| Trustee | 1.00 | X | 0 | 0 | 0 | ||
| Keith W Lazar | |||||||
| Trustee | 1.00 | X | 0 | 0 | 0 | ||
| Joe D Van Tol | |||||||
| Trustee | 1.00 | X | 0 | 0 | 0 | ||
| David A Coulter | |||||||
| Trustee | 1.00 | X | 0 | 0 | 0 | ||
| Thomas J Larson | |||||||
| Trustee | 1.00 | X | 0 | 0 | 0 | ||
| Gary S Kahn | |||||||
| Trustee | 1.00 | X | 0 | 0 | 0 | ||
| Alex J Oponski | |||||||
| Trustee | 1.00 | X | 0 | 0 | 0 | ||
| Martha Lagomarcino Gleason | |||||||
| Trustee | 1.00 | X | 0 | 0 | 0 | ||
| Merritt D Krause CPCU CIC | |||||||
| Chief Admin Officer | 1.00 | 0 | 236509 | 18069 | 40.00 | X | |
| John K Sorensen | |||||||
| President & CEO | 1.00 | 0 | 316790 | 18921 | 40.00 | X | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 0 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 553299 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 36990 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (2 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| Wellmark Blue Cross & Blue Shield of Iow | |||||
| PO Box 9232 | Des Moines | IA | 50306 | Claim Processing | 3759018 |
| Delta Dental | |||||
| PO Box 9000 | Johnston | IA | 50131 | Claim Processing | 335116 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 2 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | Premium Contributions | Description |
| Business Code | 900001 | BusinessCode |
| Total Revenue Column | 108813270 | TotalRevenueColumn |
| Related Or Exempt Function Income | 108813270 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 108813270 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 301456 | TotalRevenueColumn |
| Exclusion | $301,456 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | Pharmacy Rebate | Description |
| Business Code | 900001 | BusinessCode |
| Total Revenue Column | 595695 | TotalRevenueColumn |
| Related Or Exempt Function Income | 595695 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 595695 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 109710421 | TotalRevenueColumn |
| Related Or Exempt Function Income | 109408965 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $301,456 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | X | InfoInScheduleOPartIX |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 110714766 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 10788 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 35254 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4094134 | Total |
Other Expenses OtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | Miscellaneous | Description |
| Total | 206 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 114855148 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8598511 | BOY |
| EOY | 5729730 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 19787156 | BOY |
| EOY | 19897342 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 169736 | BOY |
| EOY | 275873 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 28555403 | BOY |
| EOY | 25902945 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1578162 | BOY |
| EOY | 2877362 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10261226 | BOY |
| EOY | 11454295 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 11839388 | BOY |
| EOY | 14331657 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 16716015 | BOY |
| EOY | 11571288 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 16716015 | BOY |
| EOY | 11571288 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 28555403 | BOY |
| EOY | 25902945 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expenses | -5144727 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 0 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Separate | X | FinancialStatementSeparate |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | 1 | AuditCommittee |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 0 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| Claim Reserves | $11,420,865 |
| IBNR Claim Reserve Liability | $33,430 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 11454295 | TotalOfAmounts |
| Footnote In Part XIII | X | FootnoteInPartXIII |
| Tot Revenue Etc Audited Fincl Stmt | 109710421 | TotRevenueEtcAuditedFinclStmt |
| Revenue Not Rptd F990 | 0 | RevenueNotRptdF990 |
| Revenue Subtotal | 109710421 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 109710421 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 114855148 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 114855148 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 114855148 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Description of Uncertain Tax Positions Under FIN 48: | Identifier |
| Return Reference | Part X, Line 2: | ReturnReference |
| Explanation | The Plan accounts for income taxes under the liability method as prescribed by Accounting Standards Codification (ASC) 740, Income Taxes. Under the liability method, deferred income taxes are derived on the differences between the book and tax basis of assets and liabilities. The Plan had book and tax differences on the carrying value of certain investments. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (2 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Merritt D Krause CPCU CIC | ||||||||||||||
| Chief Admin Officer | 0 | 204877 | 0 | 21299 | 0 | 10333 | 0 | 6785 | 0 | 11284 | 0 | 254578 | 0 | 0 |
| John K Sorensen | ||||||||||||||
| President & CEO | 0 | 276742 | 0 | 30955 | 0 | 9093 | 0 | 7500 | 0 | 11421 | 0 | 335711 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (2 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| Part I, Line 1a | Club dues were provided by "a related organization" to John Sorensen and Merritt D. Krause as taxable compensation. | |
| Part III | Part I, Line 3: The organization relies upon the methods used by the related organization to determine compensation. | Supplemental Information |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV
Name Of Interested Person NameOfInterestedPerson
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Delta Dental | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship | Common member | Relationship |
| Amount Of Transaction | 335116 | AmountOfTransaction |
| Description Of Transaction | Merritt D. Krause is a current board member of Delta Dental. | DescriptionOfTransaction |
| Sharing Of Revenues | 0 | SharingOfRevenues |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| Return ReferenceReturnReference | ExplanationExplanation |
|---|---|
| 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 11 | The finance committee reviews and approves the Audited Financial Statements which then are used to complete the Form 990. The Form 990 is reviewed by the finance committee prior to filing the form. This review includes an overview of the form and discussions related to key sections. |
| Form 990, Part VI, Section A, Line 9 | James R. Brown - Trustee P.O. Box 311 Eldora, IA 50627-0311 Keith W. Lazar - Trustee P.O. Box 311 Washington, IA 52353-0311 Joe D. Van Tol - Trustee P.O. Box 158 Rock Valley, IA 51247-0158 David A Coulter - Trustee P.O. Box 122 La Porte City, IA 50651-0122 Martha Lagomarcino Gleason - Trustee 1530 S. Duff, Suite 1 Ames, IA 50010 Thomas J. Larson - Trustee 5 E. Call Street Algona, Iowa 50511-2499 Gary S. Kahn - Trustee 100 N. 2nd Ave. W. Newton, IA 50208 Alex J. Oponski - Trustee P.O. Box 180 Arnolds Park, Iowa 51331 |
| 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. |
| Form 990, Part IX, Line 11g: | Other Fees of $4,094,134 represents Servicing Fees. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII (2 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Exempt Code SectionExemptCodeSection | Public Charity StatusPublicCharityStatus | Direct Controlling Entity NADirectControllingEntityNA | Controlled OrgControlledOrg |
|---|---|---|---|---|---|---|---|---|---|---|
| Iowa Bankers Association | ||||||||||
| 8800 NW 62nd Avenue PO Box 6210 | Johnston | IA | 501316210 | 420330040 | Promote Banks | IA | Section 501(C)(6) | N/A | N/A | 0 |
| B U I L D | ||||||||||
| 8800 NW 62nd Avenue PO Box 6210 | Johnston | IA | 501316210 | 421208575 | PAC | IA | Section 527 | N/A | N/A | 0 |
Form990 Schedule R Part IV Form990ScheduleRPartIV (4 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivityPrimaryActivity | Legal Domicile StateLegalDomicileState | Direct Controlling Entity NADirectControllingEntityNA | Type Of EntityTypeOfEntity | Controlled OrgControlledOrg |
|---|---|---|---|---|---|---|---|---|---|
| Iowa Bankers Insurance & Services Inc | |||||||||
| 8800 NW 62nd Avenue PO Box 6210 | Johnston | IA | 501316210 | 420984998 | Sales-Ins. & Mtg | IA | N/A | C | 0 |
| Mid America Bankers Insurance Services | |||||||||
| 8800 NW 62nd Avenue PO Box 6210 | Johnston | IA | 501316210 | 421167893 | Banking Services | IA | N/A | C | 0 |
| Iowa Bankers Mortgage Corporation | |||||||||
| 8800 NW 62nd Avenue PO Box 6210 | Johnston | IA | 501316210 | 421130287 | Mortgage Banking | IA | N/A | C | 0 |
| Iowa-Midwest Insurance Company | |||||||||
| 8800 NW 62nd Avenue PO Box 6210 | Johnston | IA | 501316210 | 860309358 | Insurance | IA | N/A | C | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Dividends Related Organization | 0 | DividendsRelatedOrganization |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 0 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 1 | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable (2 entries)
| Transaction TypeTransactionType | Amount InvolvedAmountInvolved | Method Of Amt DeterminationMethodOfAmtDetermination |
|---|---|---|
| Iowa Bankers Insurance & Services | ||
| S | 802098 | FMV |
| Iowa Bankers Mortgage Corp | ||
| S | 491861 | FMV |