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← VIRGINIA PRIVATE COLLEGES BENEFITS CONSORTIUM INC

Form 990 for tax year 2024

Filed by VIRGINIA PRIVATE COLLEGES BENEFITS CONSORTIUM INC.

Totals

Total revenue
$44,966,307
Total expenses
$44,308,733
Contributions and grants received
$500
Grants paid
$0
Program service revenue
$43,947,033
Investment income
$1,018,774
Other revenue
$0
Total assets, end of year
$21,324,457
Total liabilities, end of year
$3,814,904
Net assets or fund balances, end of year
$17,509,553
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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.

  • 1f · All other contributions, gifts and grants

    $500

  • 2a · Program service revenue: HEALTH AND WELFARE PLAN CONTRIBUT

    total $30,166,819 · related or exempt $30,166,819

  • 2b · Program service revenue: HEALTH AND WELFARE PLAN CONTRIBUT

    total $13,780,214 · related or exempt $13,780,214

  • 3 · Investment income

    total $1,018,774 · excluded $1,018,774

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $39,114,186

  • 11a · Fees: management

    total $418,282

  • 11b · Fees: legal

    total $43,283

  • 11c · Fees: accounting

    total $27,065

  • 11g · Fees: other

    total $596,602

  • 13 · Office expenses

    total $11,082

  • 16 · Occupancy

    total $24,033

  • 17 · Travel

    total $7,935

  • 19 · Conferences, conventions and meetings

    total $4,173

  • 22 · Depreciation, depletion and amortization

    total $2,612

  • 23 · Insurance

    total $64,944

  • 24a · Other expenses: RETENTION

    total $3,498,404

  • 24b · Other expenses: CHANGE IN CLAIMS PAYABL

    total $360,000

  • 24c · Other expenses: MEDICAL CLINICAL REVIEW

    total $89,613

  • 24d · Other expenses: ADVOCACY PROGRAM

    total $41,312

  • 24e · All other expenses

    total $5,207

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $20,456,241 · end of year $19,148,018

  • 4 · Accounts receivable

    beginning of year $518,234 · end of year $2,066,143

  • 9 · Prepaid expenses and deferred charges

    beginning of year $40,826 · end of year $34,990

  • 10a · Land, buildings and equipment: cost or other basis

    $26,072

  • 10b · Land, buildings and equipment: accumulated depreciation

    $19,102

  • 10c · Land, buildings and equipment, net

    beginning of year $8,217 · end of year $6,970

  • 15 · Other assets

    beginning of year $85,395 · end of year $68,336

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,410,213 · end of year $613,957

  • 25 · Other liabilities

    beginning of year $2,857,349 · end of year $3,200,947

  • 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 $16,841,351 · end of year $17,509,553

Mission and programs · 2024

Mission

VIRGINIA PRIVATE COLLEGES BENEFITS CONSORTIUM, INC. WAS ORGANIZED TO ESTABLISH AND MAINTAIN ONE OR MORE HEALTH AND WELFARE PLANS FOR THE PAYMENT OF LIFE, SICK, ACCIDENT AND OTHER SIMILAR BENEFITS WHICH CONSTITUTE 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 THE EMPLOYEES OF VARIOUS COLLEGE AND UNIVERSITY MEMBERS OF VIRGINIA PRIVATE COLLEGES BENEFITS CONSORTIUM, INC. AND THE SPONSORING ASSOCIATION.

Activities or mission (Part I)

PROVIDING MEDICAL & PRESCRIPTION DRUG BENEFITS TO THE FACULTY & STAFF OF 17 PRIVATE VA COLLEGES & THE SPONSORING ASSOCIATION.

  • MEDICAL,PRESCRIPTION DRUG, WELLNESS, DENTAL AND VISION BENEFITS ARE PROVIDED TO 3,200 FACULTY AND STAFF AT 17 PRIVATE VIRGINIA COLLEGES AND THE SPONSORING ASSOCIATION.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Ken Copeland

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Tracy Peery

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Holli Harman

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Kim Harper

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Rob Young

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kerry Edmonds

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Judy Pedneau

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kathie Tune

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Melissa Wright

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Peter Bryan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Mowen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Christopher Peace

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Shelly Irvine

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jina Sauls

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Holly Giordano

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tyson Cooper

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kristie White

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Regina Barletta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tim Klopfenstein

    EXECUTIVE DIRECTOR

    Total calculated
    $1,730
    From this org
    $0
    From related orgs
    $0
    Other
    $1,730
    Hours/week
    40

  • Wanda Gardner

    ASSISTANT SECRETARY

    Total calculated
    $1,931
    From this org
    $0
    From related orgs
    $0
    Other
    $1,931
    Hours/week
    40

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
2024
Filed
21 April 2025
IRS schema version
2024v5.1
Source object
202501199349302085

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