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← MISSISSIPPI BANKERS VOLUNTARY EMPLOYEES BENEFICARY ASSN TRUST

Form 990 for tax year 2024

Filed by MISSISSIPPI BANKERS VOLUNTARY EMPLOYEES BENEFICARY ASSN TRUST.

Totals

Total revenue
$27,903,624
Total expenses
$31,299,842
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$27,417,654
Investment income
$485,970
Other revenue
$0
Total assets, end of year
$14,734,123
Total liabilities, end of year
$7,649,403
Net assets or fund balances, end of year
$7,084,720
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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: PREMIUMS COLLECTED

    total $27,417,654 · related or exempt $27,417,654

  • 3 · Investment income

    total $485,970 · unrelated business $485,970

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $27,184,590

  • 11a · Fees: management

    total $204,700

  • 11c · Fees: accounting

    total $46,390

  • 11g · Fees: other

    total $3,661,083

  • 13 · Office expenses

    total $5,048

  • 14 · Information technology

    total $36,000

  • 24a · Other expenses: UNRELATED BUSINESS INCOME

    total $143,345

  • 24b · Other expenses: LETTER OF CREDIT

    total $18,686

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,639,253 · end of year $1,252,644

  • 2 · Savings and temporary cash investments

    beginning of year $12,154 · end of year $5,517

  • 9 · Prepaid expenses and deferred charges

    beginning of year $31,907 · end of year $48,662

  • 11 · Investments: publicly traded securities

    beginning of year $12,896,900 · end of year $13,318,969

  • 15 · Other assets

    beginning of year $68,483 · end of year $108,331

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,569 · end of year $13,884

  • 25 · Other liabilities

    beginning of year $4,136,017 · end of year $7,635,519

  • 31 · Retained earnings, endowment or other funds

    beginning of year $10,506,111 · end of year $7,084,720

Mission and programs · 2024

Mission

VOLUNTARY EMPLOYEE BENEFICIARY ASSOCIATION OPERATING UNDER IRC SECTION 501(C)(9).

  • THE PREMIUMS RECEIVED FROM VARIOUS MEMBER BANKS ARE USED TO PAY FOR MEDICAL AND LIFE INSURANCE FOR THE EMPLOYEES OF THE MEMBER BANKS.

As filed on the 2024 return.

Listed in Part VII

  • Ben Aldridge

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • John Barrett

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Jeff Lacey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Clayton Legear

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Sam McClatchy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Jeff McCoy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Jennifer Wallace

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Danny Whalen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Gordon Fellows

    PLAN SECRETA

    Total calculated
    $0
    Hours/week
    7.4 + 32.6 related

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • AMORY FEDERAL SAVINGS & LOAN

  • BANK OF ANGUILLA

  • BANK OF BROOKHAVEN

  • BANK OF FOREST

  • BANK OF FRANKLIN

  • BANK OF HOLLY SPRINGS

  • BANK OF KILMICHAEL

  • BANK OF OKOLONA

  • BANK OF WIGGINS

  • BANK OF WINONA

  • BANK OF YAZOO CITY

  • BNA BANK

  • CENTURY BANK

  • THE CITIZENS BANK OF COLUMBIA

  • THE CITIZENS BANK OF PHILADELPHIA

  • CITIZENS BANK AND TRUST OF MARKS

  • CLEVELAND STATE BANK

  • COMMERCE NATIONAL BANK

  • COVINGTON COUNTY BANK

  • FIRST BANK

  • FIRST CHOICE BANK

  • FIRST COMMERCIAL BANK

  • FIRST NATIONAL BANK CLARKSDALE

  • FIRST NATIONAL BANK OXFORD

  • FIRST NATIONAL BANK PICAYUNE

  • FIRST NATIONAL BANKERS BANK

  • FIRST SECURITY BANK

  • FIRST STATE BANK WAYNESBORO

  • GENESIS BANK

  • GREAT SOUTHERN NATIONAL BANK

  • HOLMES COUNTY BANK & TRUST

  • MERCHANT & MARINE BANK

  • MERCHANTS & PLANTERS BANK

  • MS ASSN OF FIN INSTIT OF DEPOSIT

  • OXFORD UNIVERSITY BANK

  • PIKE NATIONAL BANK

  • PRIORITY ONE BANK

  • RICHTON BANK & TRUST

  • RIVERHILLS BANK

  • THE PEOPLES BANK RIPLEY

  • UNITED MISSISSIPPI BANK

  • UNITY BANK OF MISSISSIPPI

Provenance

Return type
form_990
Tax year
2024
Filed
15 November 2025
IRS schema version
2024v5.0
Source object
202523159349304622

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