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← FARM CREDIT FOUNDATIONS WELFARE BENEFITS TRUST

Form 990 for tax year 2022

Filed by FARM CREDIT FOUNDATIONS WELFARE BENEFITS TRUST.

Totals

Total revenue
$190,444,638
Total expenses
$197,996,193
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$189,888,328
Investment income
$556,310
Other revenue
$0
Total assets, end of year
$25,396,278
Total liabilities, end of year
$17,113,564
Net assets or fund balances, end of year
$8,282,714
Program services expenses (Part IX)
$197,996,193
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$197,996,193

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: EMPLOYEE/ER CONTRIBUTIONS

    total $180,933,474 · related or exempt $180,933,474

  • 2b · Program service revenue: EMPLOYER/EEINS PREMIUMS

    total $8,954,854 · related or exempt $8,954,854

  • 3 · Investment income

    total $556,310 · excluded $556,310

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $140,737,259 · program services $140,737,259

  • 9 · Other employee benefits

    total $45,923,951 · program services $45,923,951

  • 11b · Fees: legal

    total $15,176 · program services $15,176

  • 11c · Fees: accounting

    total $40,573 · program services $40,573

  • 12 · Advertising and promotion

    total $68,554 · program services $68,554

  • 19 · Conferences, conventions and meetings

    total $10,640 · program services $10,640

  • 24a · Other expenses: ADMINISTRATION

    total $8,454,665 · program services $8,454,665

  • 24b · Other expenses: PURCHASED SERVICES

    total $2,745,375 · program services $2,745,375

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $31,615,694 · end of year $24,504,732

  • 4 · Accounts receivable

    beginning of year $679,165 · end of year $891,546

  • 17 · Accounts payable and accrued expenses

    beginning of year $552,467 · end of year $798,490

  • 25 · Other liabilities

    beginning of year $15,908,123 · end of year $16,315,074

  • 29 · Capital stock, trust principal or current funds

    beginning of year $15,834,269 · end of year $8,282,714

  • 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 $0 · end of year $0

Mission and programs · 2022

Mission

TO PROVIDE EMPLOYEE BENEFITS

Activities or mission (Part I)

ORGANIZATION PROVIDES MEDICAL, DENTAL, AD & D AND LIFE, FLEX, VISION AND LONG-TERM DISABILITY BENEFITS TO ITS MEMBERS. COLLECTION OF CONTRIBUTIONS BY EMPLOYEES/ERS PROVIDES FUNDS FOR THESE BENEFITS

  • TO PROVIDE HEALTH, LIFE AND DISABILITY BENEFITS TO MEMBERS

    Expenses $197,996,193

As filed on the 2022 return.

Listed in Part VII

  • Steve Harrington

    VP & CEO

    Total calculated
    $0
    Hours/week
    0.01

  • Aaron Johnson

    PRESIDENT/CEO

    Total calculated
    $0
    Hours/week
    0.01

  • Craig Kinnison

    SR VP/ CFO

    Total calculated
    $0
    Hours/week
    0.01

  • Jeff Moore

    CFO

    Total calculated
    $0
    Hours/week
    0.01

  • John Phelan

    VP/CCO

    Total calculated
    $0
    Hours/week
    0.01

  • Jerry Rose

    EVP - CHIEF RISK OFFICER

    Total calculated
    $0
    Hours/week
    0.01

  • Kevin Swayne

    CEO

    Total calculated
    $0
    Hours/week
    0.01

  • Heather Vidourek

    SR VP HR

    Total calculated
    $0
    Hours/week
    0.01

  • Jase Wagner

    CFO

    Total calculated
    $0
    Hours/week
    0.01

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.

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.

  • FARM CREDIT FOUNDATIONS

    C · HR SERVICES · MN

Provenance

Return type
form_990
Tax year
2022
Filed
3 October 2023
IRS schema version
2022v5.0
Source object
202342769349301194

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