2011-11-09T14:42:51-06:00 2011-06-30 WIPFLI LLP PO BOX 8700 MADISON WI 537088700 990 2010-07-01 320086947 WAICU BENEFITS CONSORTIUM INC WAIC 6082567761 122 W WASHINGTON AVENUE NO 700 MADISON WI 53703 ROLF WEGENKE 6082567761 2011-11-04 1 HEIDI KONKEL 6082741980 2011-11-04 2010 2016-03-07 17:11:31Z ROLF WEGENKE 122 W WASHINGTON AVENUE NO 700 MADISON WI 53703 25969861 0 X N/A X 2003 WI WAICU BENEFITS CONSORTIUM INC. WAS ORGANIZED TO ESTABLISH AND MAINTAIN A HEALTH AND WELFARE PLAN FOR THE PAYMENT OF LIFE, SICK, ACCIDENT, AND SIMILAR BENEFITS CONSTITUTING AN "EMPLOYEE WELFARE BENEFIT PLAN" WITHIN THE MEANING OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974. THE PLAN IS MAINTAINED FOR THE BENEFIT OF EMPLOYEES OF VARIOUS COLLEGE AND UNIVERSITY MEMBERS OF WAICU. 9 9 0 0 0 0 0 0 23587446 25734453 135939 235408 3247158 0 26970543 25969861 0 0 24377488 23870469 0 0 0 0 0 1727528 1711336 26105016 25581805 865527 388056 10236077 10856242 84249 34500 10151828 10821742 X WAICU BENEFITS CONSORTIUM INC. WAS ORGANIZED TO ESTABLISH AND MAINTAIN A HEALTH AND WELFARE PLAN FOR THE PAYMENT OF LIFE, SICK, ACCIDENT, AND SIMILAR BENEFITS CONSTITUTING AN "EMPLOYEE WELFARE BENEFIT PLAN" WITHIN THE MEANING OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974. THE PLAN IS MAINTAINED FOR THE BENEFIT OF EMPLOYEES OF VARIOUS COLLEGE AND UNIVERSITY MEMBERS OF WAICU. 0 0 WAICU BENEFITS CONSORTIUM, INC. WAS ORGANIZED TO ESTABLISH AND MAINTAIN A HEALTH AND WELFARE PLAN FOR THE PAYMENT OF LIFE, SICK, ACCIDENT, AND OTHER SIMILAR BENEFITS CONSTITUTING AN "EMPLOYEE WELFARE PLAN" WITHIN THE MEANING OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974. THE PLAN IS MAINTAINED FOR THE BENEFIT OF EMPLOYEES OF VARIOUS COLLEGE AND UNIVERSITY MEMBERS OF WAICU. 0 0 0 0 0 0 0 0 0 1 0 0 0 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 0 0 0 0 1 4 0 1 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X ROD OPSAL 6082567761 122 W WASHINGTON AVENUE NO 700 MADISON WI 53703 X ROBERT JACKSON 1.00 X 0 0 0 REYES GONZALEZ 1.00 X 0 0 0 MARY M DEREGNIER 1.00 X 0 0 0 KEVIN MORIN 1.00 X 0 0 0 JAMES OPPERMANN 1.00 X 0 0 0 JACK SCHOEMER 1.00 X 0 0 0 THOMAS VANHIMBERGEN 1.00 X 0 0 0 CATHY FLOOD 1.00 X 0 0 0 BRENDA JONES 1.00 X 0 0 0 BRAD ANDERSON 1.00 X 0 0 0 ROLF WEGENKE 2.00 X 0 0 0 RODNEY L OPSAL 12.00 X 0 0 0 0 0 0 0 0 0 0 CAREMARK 445 GREAT CIRCLE ROAD NASHVILLE TN 37228 PRESCRIPTION BENEFIT MANAGER 2969822 UMR 115 W WAUSAU AVENUE WAUSAU WI 54401 THIRD PARTY ADMINISTRATOR 1975653 QUANTUM HEALTH 7450 HUNTINGTON PARK DRIVE SUITE 1 COLUMBUS OH 43235 THIRD PARTY ADMINISTRATOR 399300 WAICU 122 W WASHINGTON AVENUE SUITE 700 MADISON WI 53703 ADMINISTRATION 349493 HSI 5975 CASTLE CREEK PARKWAY SUITE 10 INDIANAPOLIS IN 46250 THIRD PARTY ADMINISTRATOR 129806 5 PLAN CONTRIBUTIONS 525100 23838083 23838083 STOP LOSS REIMBURSEMEN 525100 1896370 1896370 25734453 235408 235408 25969861 25734453 0 235408 23870469 346864 17187 12500 30604 84000 THIRD PARTY ADMINISTRAT 451468 QUANTUM TPA EXPENSE 415000 PPO NETWORK FEES 351595 BANK FEE 2108 LICENSE & FEES 10 25581805 450022 718650 3219679 1852708 196506 182659 6369870 8102225 10236077 10856242 84249 34500 84249 34500 X 10151828 10821742 10151828 10821742 10236077 10856242 X 388056 281858 X 0 1 1 X 0 0 MUTUAL FUNDS 1646946 F GOVERNMENT BONDS 3617688 F CORPORATE BONDS 2837591 F 8102225 25969861 25581805 388056 281858 281858 669914 26251719 281858 281858 25969861 0 25969861 25581805 0 25581805 0 25581805 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE TRUST FUNDING THE PLAN HAS RECEIVED AN EXEMPTION LETTER FROM THE INTERNAL REVENUE SERVICE DATED NOVEMBER 12, 2004, STATING THAT THE TRUST IS TAX-EXEMPT UNDER THE PROVISIONS OF SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE (IRC) AS A VOLUNTARY EMPLOYEE BENEFICIARY ASSOCIATION. THE PLAN AND TRUST ARE REQUIRED TO OPERATE IN CONFORMITY WITH THE IRC TO MAINTAIN THE TAX-EXEMPT STATUS OF THE TRUST. THE PLAN HAS BEEN AMENDED SUBSEQUENT TO THE DATE OF THE TRUST'S EXCEPTION LETTER; HOWEVER, THE PLAN ADMINISTRATOR BELIEVES THAT THE PLAN IS BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC AND, THEREFORE, BELIEVES THE RELATED TRUST IS TAX-EXEMPT. AS SUCH, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE PLAN'S FINANCIAL STATEMENT. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS AND THERE ARE CURRENTLY NO AUDITS IN PROGRESS. THE PLAN IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2007. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER HAS THE RIGHT TO HAVE ONE REPRESENTATIVE ON THE BOARD OF DIRECTORS. EACH MEMBER CAN CAST ONE VOTE (EITHER BY BOARD MEMBER OR PROXY) ON CONSORTIUM MATTERS TAKEN UP AT MEETINGS. FORM 990, PART VI, SECTION B, LINE 11 THE DRAFT OF THE 990 IS EMAILED TO THE AUDIT/FINANCE COMMITTEE A MINIMUM OF TWO WEEKS PRIOR TO THE FILING DATE. A CONFERENCE CALL IS SCHEDULED FOR THE FOLLOWING WEEK DURING WHICH THE COMMITTEE MEMBERS OFFER INPUT ON AND DISCUSS CHANGES, IF ANY. WHEN THE COMMITTEE MEMBERS AGREE THAT THE REPORT IS SATISFACTORY, THE ACCOUNTING FIRM IS NOTIFIED AND REQUESTED TO PROVIDE FINAL COPIES FOR EITHER PAPER OR ELECTRONIC FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS AND ALL ESSENTIAL WAICU BENEFITS CONSORTIUM, INC. PERSONNEL ARE REQUIRED TO COMPLETE ANNUAL CONFLICT OF INTEREST FORMS. PERSONAL OR FINANCIAL RELATIONSHIPS WITH VENDORS OR POTENTIAL VENDORS WILL BE DISCLOSED TO THE BOARD AND PRESIDENT. THE PRESIDENT AND THE BOARD WILL TAKE PROMPT AFFIRMATIVE STEPS TO ELIMINATE ANY CONFLICT. OFFICERS AND DIRECTORS OF THE CORPORATION MAY NOT ACCEPT PERSONAL FINANCIAL OR OTHER BENEFITS FROM VENDORS OR POTENTIAL VENDORS BEYOND THOSE COMMON IN ORDINARY BUSINESS RELATIONSHIPS. NO CONFLICTS OF INTEREST HAVE OCCURRED IN THE PAST. FORM 990, PART VI, SECTION B, LINE 15 NO DIRECTORS OR OFFICERS ARE COMPENSATED BY THE WAICU BENEFITS CONSORTIUM, INC. THE EXECUTIVE DIRECTOR AND OFFICERS OF WAICU BENEFITS CONSORTIUM, INC. ARE COMPENSATED BY THE UNRELATED BUT AFFILIATED ORGANIZATION, WISCONSIN ASSOCIATED OF INDEPENDENT COLLEGES AND UNIVERSITIES ("WAICU"). WAICU HAS PROCESSES FOR DETERMINING THE COMPENSATION OF THESE PERSONS THAT INCLUDE REVIEW AND APPROVAL BY INDEPENDENT PERSONS, REFERENCE TO COMPARABILITY DATA, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 281,858.