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← MONTANA NONPROFIT ASSOCIATION GROUP BENEFITS TRUST

Form 990 for tax year 2022

Filed by MONTANA NONPROFIT ASSOCIATION GROUP BENEFITS TRUST.

Totals

Total revenue
$45,181
Total expenses
-$245,942
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$2,052
Other revenue
$43,129
Total assets, end of year
$343,286
Total liabilities, end of year
$436,894
Net assets or fund balances, end of year
-$93,608
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.

  • 3 · Investment income

    total $2,052 · excluded $2,052

  • 11a · Other revenue: REVERSAL OF OVER ACRRU

    total $43,129 · excluded $43,129

  • 11e · Other revenue, total

    $43,129

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $9,830

  • 11g · Fees: other

    total $24,893

  • 13 · Office expenses

    total $2,042

  • 16 · Occupancy

    total $751

  • 24a · Other expenses: MISCELLANEOUS

    total $1,182

  • 24b · Other expenses: CHANGE IN RESERVES

    total -$284,640

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $375,243 · end of year $343,286

  • 17 · Accounts payable and accrued expenses

    beginning of year $57,931 · end of year $19,491

  • 25 · Other liabilities

    beginning of year $702,043 · end of year $417,403

  • 27 · Net assets without donor restrictions

    beginning of year -$384,731 · end of year -$93,608

Mission and programs · 2022

Mission

GROUP INSURANCE BENEFITS TRUST FOR MONTANA NONPROFIT ORGANIZATIONS.

  • THE MONTANA NONPROFIT ASSOCIATION GROUP BENEFIT TRUST (MNAGBT) TRUSTEES MADE THE DECISION TO DISSOLVE THE TRUST, EFFECTIVE MAY 1, 2020 DUE TO THE IMPACT OF AN UNUSUAL NUMBER OF EXCEPTIONALLY HIGH DOLLAR CLAIMS.THE COMMISSIONER OF SECURITIES AND INSURANCE (CSI) CONSIDERED MNAGBT TO BE IN HAZARDOUS FINANCIAL CONDITION AND ORDERED ON JUNE 24, 2020, THAT MNAGBT BE PLACED UNDER SUPERVISION OF THE CSI PURSUANT TO ARM 6.6.5701 AND MONT. CODE ANN. 33-2-1321.THE MONTANA FIRST JUDICIAL DISTRICT COURT, LEWIS AND CLARK COUNTY ISSUED AN ORDER IN CIVIL ACTION NO. BDV-2020-1853 ON NOVEMBER 5, 2020 AUTHORIZING THE LIQUIDATION OF MNAGBT AND DIRECTING THE CSI, OFFICE OF THE MONTANA STATE AUDITOR, AS LIQUIDATOR, TO LIQUIDATE THE ASSETS OF THE MNAGBT. THE DISTRICT COURT ISSUED A NOTICE OF APPOINTMENT OF SPECIAL DEPUTY LIQUIDATOR UNDER CASE NO. BDV-2020-1853 ON NOVEMBER 10, 2020 WHEREBY MICHAEL J. FITZGIBBONS WAS APPOINTED AS SPECIAL DEPUTY LIQUIDATOR.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Michael J Fitzgibbons

    SPECIAL DEPUTY LIQUIDATOR

    Total calculated
    $0
    Hours/week
    1

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
13 September 2023
IRS schema version
2022v5.0
Source object
202312589349300136

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