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← IOWA ASSOCIATION OF ELECTRIC COOPERATIVE HEALTH CARE TRUST

Form 990 for tax year 2022

Filed by IOWA ASSOCIATION OF ELECTRIC COOPERATIVE HEALTH CARE TRUST.

Totals

Total revenue
$22,398,450
Total expenses
$21,848,420
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$21,482,927
Investment income
$915,523
Other revenue
$0
Total assets, end of year
$8,717,543
Total liabilities, end of year
$2,535,987
Net assets or fund balances, end of year
$6,181,556
Program services expenses (Part IX)
$21,848,420
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$21,848,420

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: MEMBER INS PREMIUMS

    total $21,482,927 · related or exempt $21,482,927

  • 3 · Investment income

    total $177,864 · excluded $177,864

  • 7a · Gross sales of assets other than inventory

    securities $4,946,390

  • 7b · Less cost or other basis and sales expenses

    securities $4,208,731

  • 7c · Gain or loss

    securities $737,659

  • 7d · Net gain or loss

    total $737,659 · related or exempt $737,659

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $19,979,645 · program services $19,979,645

  • 11b · Fees: legal

    total $62,086 · program services $62,086

  • 11c · Fees: accounting

    total $13,200 · program services $13,200

  • 11f · Fees: investment management

    total $48,282 · program services $48,282

  • 11g · Fees: other

    total $37,557 · program services $37,557

  • 24a · Other expenses: CLAIMS PROCESSING FEES

    total $1,381,749 · program services $1,381,749

  • 24b · Other expenses: STOP LOSS EXPENSE

    total $325,038 · program services $325,038

  • 24c · Other expenses: BANK SERVICE CHARGES

    total $863 · program services $863

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $525,217 · end of year $247,956

  • 2 · Savings and temporary cash investments

    beginning of year $4,313,180 · end of year $3,842,613

  • 3 · Pledges and grants receivable

    beginning of year $646,966 · end of year $865,412

  • 11 · Investments: publicly traded securities

    beginning of year $4,777,450 · end of year $3,761,562

  • 17 · Accounts payable and accrued expenses

    beginning of year $25,991 · end of year $20,827

  • 19 · Deferred revenue

    beginning of year $59,646 · end of year $0

  • 25 · Other liabilities

    beginning of year $2,789,564 · end of year $2,515,160

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $7,387,612 · end of year $6,181,556

Mission and programs · 2022

Mission

PROVIDE GROUP HEALTH MAINTENANCE FOR MEMBERS OF THE IOWA ASSOCIATION OF ELECTRIC COOPERATIVES

Activities or mission (Part I)

PROVIDER OF GROUP HEALTH MAINTENANCE FOR MEMBERS OF THE IOWA ASSOCIATION OF ELECTRIC COOPERATIVES

  • PROVIDER OF GROUP HEALTH MAINTENANCE FOR MEMBERS OF THE IOWA ASSOCIATION OF ELECTRIC COOPERATIVES

    Expenses $21,848,420 · Revenue $22,220,586

As filed on the 2022 return.

Listed in Part VII

  • Roger Solomonson

    CHAIRMAN

    Total calculated
    $1,807
    From this org
    $0
    From related orgs
    $1,807
    Other
    $0
    Hours/week
    0.5

  • Ronald O'Neil

    TRUSTEE

    Total calculated
    $1,520
    From this org
    $0
    From related orgs
    $1,520
    Other
    $0
    Hours/week
    0.5

  • David Opie

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Steve Inskeep

    TRUSTEE

    Total calculated
    $1,627
    From this org
    $0
    From related orgs
    $1,627
    Other
    $0
    Hours/week
    0.5

  • Bill Cherrier

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Kevin Wheeler

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Teresa Floyd

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Cozy Nelsen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Matt Washburn

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Mark Earhart

    TRUSTEE

    Total calculated
    $1,594
    From this org
    $0
    From related orgs
    $1,594
    Other
    $0
    Hours/week
    0.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
1 November 2023
IRS schema version
2022v5.0
Source object
202323109349303057

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