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Nonprofiteer
← GRANITE GROUP INSURANCE TRUST

Form 990 for tax year 2024

Filed by GRANITE GROUP INSURANCE TRUST.

Totals

Total revenue
$14,815,823
Total expenses
$15,394,374
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$14,779,471
Investment income
$36,352
Other revenue
$0
Total assets, end of year
$3,286,534
Total liabilities, end of year
$563,242
Net assets or fund balances, end of year
$2,723,292
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.

  • 2a · Program service revenue: MEDICAL, DENTAL, VISION PROGRAMS

    total $14,389,795 · related or exempt $14,389,795

  • 2b · Program service revenue: LIFE & DISABILITY PROGRAMS

    total $248,385 · related or exempt $248,385

  • 2c · Program service revenue: ADMINISTRATIVE REVENUE

    total $141,291 · related or exempt $141,291

  • 3 · Investment income

    total $13,905 · excluded $13,905

  • 7a · Gross sales of assets other than inventory

    securities $201,805

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

    securities $179,358

  • 7c · Gain or loss

    securities $22,447

  • 7d · Net gain or loss

    total $22,447 · excluded $22,447

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $15,087,794

  • 5 · Compensation of officers, directors and key employees

    total $88,357

  • 7 · Other salaries and wages

    total $65,445

  • 9 · Other employee benefits

    total $45,214

  • 10 · Payroll taxes

    total $12,200

  • 11b · Fees: legal

    total $3,466

  • 11c · Fees: accounting

    total $17,914

  • 11f · Fees: investment management

    total $16,872

  • 13 · Office expenses

    total $8,999

  • 14 · Information technology

    total $3,154

  • 16 · Occupancy

    total $29,874

  • 17 · Travel

    total $436

  • 23 · Insurance

    total $9,036

  • 24a · Other expenses: BUY OUT BENEFIT

    total $4,904

  • 24b · Other expenses: BANK FEES

    total $709

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,060,141 · end of year $1,095,210

  • 2 · Savings and temporary cash investments

    beginning of year $7,601 · end of year $3,301

  • 4 · Accounts receivable

    beginning of year $8,488 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $2,381,556 · end of year $2,030,088

  • 15 · Other assets

    beginning of year $0 · end of year $157,935

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,050 · end of year $5,669

  • 25 · Other liabilities

    beginning of year $351,963 · end of year $557,573

  • 27 · Net assets without donor restrictions

    beginning of year $3,097,773 · end of year $2,723,292

Mission and programs · 2024

Mission

PROVIDES MEDICAL, DENTAL, VISION, LIFE, AND DISABILITY INSURANCE COVERAGES FOR MEMBER EMPLOYERS AND EMPLOYEES. WE ARE SIGNATURE TO A COLLECTIVE BARGAINING AGREEMENT. THE TRUST ALSO PROVIDES MEDICARE SUPPLEMENT PLAN COVERAGES FOR RETIRED MEMBERS.

Activities or mission (Part I)

PROVIDES VARIOUS WELFARE BENEFIT INSURANCE COVERAGES FOR MEMBER EMPLOYERS AND EMPLOYEES.

  • THE GRANITE GROUP INSURANCE TRUST'S MEDICAL COVERAGES ARE THE PRIMARY SOURCE OF REVENUE AND EXPENSES. WE ADMINISTER A MULTI-EMPLOYER GROUP PLAN WHICH IS GOVERNED BY UNIONIZED LABOR CONTRACTS.

  • THE GRANITE GROUP INSURANCE TRUST'S LIFE INSURANCES, SHORT TERM AND LONG TERM DISABILITY BENEFITS ARE SECONDARY PROGRAMS OF OUR PROVIDED GROUP BENEFITS. THE MULTI-EMPLOYER GROUP IS GOVERNED BY UNIONIZED LABOR CONTRACTS.

As filed on the 2024 return.

Listed in Part VII

  • Matthew Peake

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Sarah Somerville

    CO-CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Raymond Bettis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rick Sauer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Brad Ellington

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Paige Lamthi

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Robert Pope

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John Boulanger

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Anne Houle

    TREASURER

    Total calculated
    $78,166
    From this org
    $78,166
    From related orgs
    $0
    Other
    $0
    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.

  • BARRE GRANITE ASSOCIATION

    VT

  • GRANITE CUTTERS ASSOCIATION

    VT

  • UNITED STEELWORKERS

    VT

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.

  • ADAMS GRANITE CO

    VT

  • ARTS CUSTOM CUTTING

    VT

  • B & B MONUMENTAL ENGRAVERS

    VT

  • BUTTURA & GHERARDI

    VT

  • CULTURE CRAFT SANDBLAST CO

    VT

  • DUKETTE SANDBLAST CO

    VT

  • GANDIN BROTHERS INC

    VT

  • GRANITE IMPORTERS INC

    VT

  • HARDROCK GRANITE CO

    VT

  • ILCO POLYCOR WEST

    VT

  • JOE'S CUSTOM MFG

    VT

  • KINFOLK MEMORIALS INC

    VT

  • LAPERLE & SONS GRANITE CO

    VT

  • M & W POLISHING INC

    VT

  • MEMORIAL SANDBLAST CO

    VT

  • P & E

    VT

  • P & G CUSTOM SAND BLAST INC

    VT

  • PEERLESS GRANITE CO

    VT

  • PEPIN GRANITE CO

    VT

  • GEORGIA ARCHITECTURAL STONE INC

    VT

  • RIVERTON MEMORIALS INC

    VT

  • ROCK OF AGES CORP

    VT

  • SPRUCE MOUNTAIN GRANITES

    VT

  • STONE FUTURE INC

    VT

  • SWENSON GRANITE CO

    VT

  • TABERNACK GRANITE FINISHING

    VT

  • POLYCOR GEORGIA GRANITE QUARRIES

    GA

  • POLYCOR VIRGINIA

    VA

Provenance

Return type
form_990
Tax year
2024
Filed
17 August 2026
IRS schema version
2024v5.5
Source object
202642309349302719

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